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They are trying to pull off a soft landing, hiking interest rates to slow inflation without tipping their economies into recession. It's a near impossible task, according to former US Treasury Secretary Larry Summers, who found that since 1955 in the US, there has never been a quarter with price inflation above 4% and unemployment below 5% that was not followed by a US recession within the next two years.1 To get more news about DBG Markets盾博, you can visit wikifx.com official website.
Six months ago, commentators were calling on US Federal Reserve Chairman Jerome Powell to stave off surging inflation with interest rate rises. Back then, he, and other central bank policymakers, asserted that inflation was a transitory phenomenon caused by COVID-19 lockdowns, and a release of pent up consumer demand. But inflation readings remained stubborn and with other factors like the war in Ukraine driving up food and fuel prices, central banks have had to jack up interest rates hard and fast to prevent prices from spiralling out of control.2
The 1.5% rise in US interest rates so far this year seems to be biting much harder than many had predicted, with the Atlanta branch of the US Federal Reserve forecasting a 2.1% drop in GDP for the second quarter. That would be on top of the 1.6% contraction in the first three months of 2022.
That's a forecast, rather than official data, but if accurate it would meet one criteria for calling a recession - two consecutive quarters of negative growth.
As seen in 2008, if the US does start to tip into a recession, it is likely that other countries may follow and effectively managing currency risk in this environment would be increasingly important.
In June, the World Bank issued its 176 page economic analysis - Global Economic Prospects. It made for ugly reading. The bank slashed its forecast for global growth from 5.7% in 2021 to 2.9% this year, the sharpest deceleration in a post-recession recovery in 80 years. And there wasn't any sugar coating about the future in the report's second paragraph;
"Amid the war in Ukraine, surging inflation, and rising interest rates, global economic growth is expected to slump in 2022. Several years of above-average inflation and below-average growth are now likely, with potentially destabilizing consequences for low- and middle-income economies. It's a phenomenon-stagflation-that the world has not seen since the 1970s."With the three major drivers of the global economy all showing signs of slowing, the global outlook is becoming more uncertain. In a switch to risk-off sentiment, financial markets are on high alert. US equities, sold off in times of economic shock and uncertainty, had their worst start to a year since 1962 with the Dow Jones down by 21%, S&P 500 down 20.6% by June end. The Nasdaq's fall of 29% year to date is its worst ever.
US government bond yields are another sign of a spooked market. Bond yields move in inverse relation to prices. The benchmark US 10-year Treasury yield dropped to its lowest level since May as investors sought the safety of US government bonds, driving up bond prices.12
The US dollar has already been rallying thanks to the more hawkish (aggressive) tone set by the US Federal Reserve on interest rates. Now global slowdown fears are adding momentum to the dollar's upward trajectory as investors look to the US dollar as a safe haven currency in the event of a slowdown. So far the dollar has had its best start to the year since 2010 according to the Wall Street Journal's Dollar Index, increasing 8.7% against a basket of 16 currencies.13
Other currencies, like the euro, are struggling. The war in Ukraine has meant the prospects for the eurozone are less certain. Interest rate hikes, while coming, have not yet eventuated, muting demand for the currency as investors look to higher-yielding currencies for better returns. The euro is down 7.5% against the dollar so far this year.
The Japanese yen is another safe haven currency in times of stress but here particularly the ultra-accommodative monetary policy is having a strong impact. While the Fed has been steadily raising rates, the Bank of Japan has been opting to wait and see. The width of that interest rate differential has helped the US dollar soar 18% against the yen this year.
Slow or backward global growth is bad news for commodity currencies such as the Australian dollar and New Zealand dollar, which are closely linked to demand for key exports. These currencies are already being sold off based on the fear of global recession, both hitting 2-year lows in July.
The recent weakness of the US dollar, the decline of commodity prices and the recovery of equity indices is a relief for global investors. But does this indicate the market has turned a corner or is it just a short-term rally within a bear market?To get more news about TMGM外汇, you can visit wikifx.com official website.
US stock indexes have outperformed European and Asian recently. The benchmark US S&P 500 is down circa 13% year-to-date having been as much as 23% lower in mid-June. Yesterday, stocks were volatile after US manufacturing data from ISM topped expectations in a signal that price pressures on companies in the world's largest economy could be easing. Although central banks continue to tighten monetary policy, there has been a notable loosening in financial conditions. Expected policy rates have been trimmed back markedly and the expected peak of interest rates in multiple regions has also dropped. US rate cuts are now being priced in for 2023. However, this is mainly because recession risks are rising, which the bond market is warning with the inversion of the 10 year/2-year curve and the more significant 10 year/3-month curve on the brink.
Demand for safe haven assets has dragged GBP/USD back from a 5-week high recorded yesterday. Market jitters are largely related to China's warning about military action if US House of Representatives Speaker Nancy Pelosi visits Taiwan as planned.
Chinese fighter jets are flying close to Taiwan ahead of Ms Pelosi's visit as the US and Taiwan brace for a potential violent reaction. Although the visit isn't in the official itinerary, there is speculation Ms Pelosi will meet Taiwan's president tomorrow, which Beijing views as provocative. This could trigger a response from the US Air Force and Navy and this uncertainty alone is driving safe-haven flows into the Japanese yen, whilst hurting risk-friendly assets like stocks and currencies like the British pound.
The Reserve Bank of Australia (RBA) raised interest rates by 50 basis points to 1.85% - the highest level since April 2016 and in line with expectations. The Australian dollar has weakened though as the RBA announced that future hikes will not follow a pre-set path and instead be guided by data.
GBP/AUD has jumped nearly 1% higher already this morning stretching further north of the near 3.5-year low clocked just two weeks ago. Since April this year, GBP/AUD has oscillated within 6-cent range between A$1.72 and A$1.78. Today's price action again highlights that rate hikes will not always result in a strong positive currency reaction.
Film faced plywood, also known as film formwork plywood, is as a specialized type of plywood in construction. In recent years, it has been more and more favored by many because it helps to reduce construction time, the number of workers and the cost of materials. Although found out after other formworks such as aluminum, steel and plastic formwork, film faced plywood still has a high rank in the market thanks to its strength.To get more news about commercial plywood, you can visit boosterplywood.com official website.
First of all, the raw material (wood log) will be selected and stored at our factory/workshop. The raw material standards can differ between types of wood, but normally we choose the logs of maximum 1.3m in length and minimum 10cm in diameter.
Then, we use a veneer lathe to peel the logs, in which way the wood is compressed with a nose bar while the veneer knife cuts the blocks into veneers that are typically 1.7mm thick. The first bit of the veneer which includes lumber bark shall be cut off. The veneer pieces are then clipped to a usable width, typically 640m or as request, for shrinkage and trim.
The veneers are then dried to a certain moisture content of below 12%. Thanks to the gifted tropical weather, our veneers are normally dried naturally under the sun for 1 or 2 days until their moisture reaches the right level. However, during the rain season, we use driers/kilns to dry our veneers quicker (1.5 days) and guarantee the right moisture content for our final goods.
When the veneers have been dried, checked and divided into different quality types, they will go through a glue spreading machine so a specific kind glue can be covered all over the veneers' surface.
Our workers now will check the plywood core to see if veneers are properly glued and surface is perfectly flat, they will handle the defects before putting the core into the hot press machine.
The laid-up assembly of veneers then is sent to a hot press in which it is consolidated under heat and pressure. Hot pressing has two main objectives: (1) to press the glue into a thin layer over each sheet of veneer; and (2) to activate the thermosetting resins. The time and temperature vary depending on the wood, resin types and customers' requests.
After the hot pressing is completed, the workers will handle the surface of the board, cut the edges of the boards, handle the edges of the boards, sanding the surface of the boards 2 to 3 times.
The problem with mass production is that you cannot check every single product manufactured or sold. However, the problem will be solved if you can control the producing process.
As you may recognize above, our company has deep knowledge of both our products and the production process. However, it is only the tip of the iceberg. We have the ability to control our product quality through good and durable machinery, standardized process, well-trained workers and dedicated quality control teams.
We are also very proud to have been able to consult for some of our suppliers and business partners about more effective techniques as well as management experience, helping them partly reduce their production and management costs.
Global Film Faced Plywood Market Size 2022
"Film Faced Plywood Market" Insights 2022 By Types (Birch Film Faced Plywood, Poplar Film Faced Plywood, Combi Film Faced Plywood, Hardwood Film Faced Plywood), Applications (Wall Panels, Flooring, Roofs, Shuttering Formwork Plywood), Regions and Forecast to 2028. The global Film Faced Plywood market size is projected to reach multi million by 2028, in comparison to 2022, with unexpected CAGR during the forecast period, the Film Faced Plywood Market Report Contains124pages Including Full TOC, Tables and Figures, and Chart with In-depth Analysis Pre and Post COVID-19 Market Outbreak Impact Analysis and Situation by Region.To get more news about film faced plywood, you can visit boosterplywood.com official website.
This report focuses on global and United States Film Faced Plywood market, also covers the segmentation data of other regions in regional level and county level.
Due to the COVID-19 pandemic, the global Film Faced Plywood market size is estimated to be worth USD million in 2022 and is forecast to a readjusted size of USD million by 2028 with a CAGR of % during the review period. Fully considering the economic change by this health crisis, by Type, Birch Film Faced Plywood accounting for % of the Film Faced Plywood global market in 2021, is projected to value USD million by 2028, growing at a revised % CAGR in the post-COVID-19 period. While by Application, Wall Panels was the leading segment, accounting for over percent market share in 2021, and altered to an % CAGR throughout this forecast period.
Film Faced Plywood market is segmented by region (country), players, by Type and by Application. Players, stakeholders, and other participants in the global Film Faced Plywood market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by region (country), by Type and by Application for the period 2017-2028.
For United States market, this report focuses on the Film Faced Plywood market size by players, by Type and by Application, for the period 2017-2028. The key players include the global and local players, which play important roles in United States.Film Faced Plywood Market Report identifies various key players in the market and sheds light on their strategies and collaborations to combat competition. The comprehensive report provides a two-dimensional picture of the market. By knowing the global revenue of manufacturers, the global price of manufacturers, and the production by manufacturers during the forecast period of 2022 to 2028, the reader can identify the footprints of manufacturers in the Film Faced Plywood industry.
As well as providing an overview of successful marketing strategies, market contributions, and recent developments of leading companies, the report also offers a dashboard overview of leading companies' past and present performance. Several methodologies and analyses are used in the research report to provide in-depth and accurate information about the Film Faced Plywood Market.
The current market dossier provides market growth potential, opportunities, drivers, industry-specific challenges and risks market share along with the growth rate of the global Film Faced Plywood market. The report also covers monetary and exchange fluctuations, import-export trade, and global market
status in a smooth-tongued pattern. The SWOT analysis, compiled by industry experts, Industry Concentration Ratio and the latest developments for the global Film Faced Plywood market share are covered in a statistical way in the form of tables and figures including graphs and charts for easy understanding.
Rouble trouble, a unique opportunity for India
In a year which saw a storm in all currency markets, Russia’s rouble has come full circle.To get more news about Exness外汇, you can visit wikifx.com official website.
On March 10, the rouble hit a low of 150 against the US dollar from a stable level near 70 for the past two years.But on June 26, doing a volte face, rouble reached almost 50 against the US dollar, its strongest level in seven years. What is happening with the rouble and how does it impact India?
The West imposed draconian sanctions on Russia in response to the Ukraine invasion. The immediate impact was the collapse of rouble. Russia took many measures to arrest the fall. The Russian central bank mandated that 80 per cent of foreign earnings of Russian firms had to be converted to rouble. It increased interest rates to 20 per cent from 9.5 per cent in one go.
Russia decreed that hostile country buyers had to pay in rouble for buying natural gas. This resulted in increased demand for roubles and its appreciation. This was aided by a historical rise in the prices of oil and gas and continued demand for Russian energy products. An appreciating rouble gave Russians a sense of pride which overshadowed the mounting losses in Ukraine.
But the s,tory here is also somewhat deeper. There has been a complete collapse of imports as they fell to multi-decade lows due to the sanctions. Russia was also removed from the global payment system SWIFT. Hence, there is no need or possibility for them to sell roubles to buy foreign exchange. So ruble is currently like an illiquid unlisted firm with no way to determine its fair price. If a currency is not traded in the market and the demand for the foreign currency evaporates, what is its true equilibrium price?
In the short term, the immediate benefit to India is to buy cheaper crude oil from Russia. In the medium term, Western countries vacating the Russian business space can provide uncontested market access to Indian products. In the long run, diversification of energy sources away from West Asia is a critical aspect of energy security and consequently national security.
With the current restrictions expected to continue, it would be extremely difficult to use reserve currencies for trade with Russia. As per reports, the solutions being discussed are a ‘rupee-rouble’ mechanism and a new BRICS currency based on a basket of member currencies.
In international trade, profitability is dependent on the price of products and exchange rate between the currencies. Since the value of rouble is indeterminable, it cannot be blindly used in settling trade. Else all gains may turn out to be merely paper profits.
Since convertible currencies like USD are unusable, the best solution for India is to insist on a rupee payment mechanism. The imports by India and Russia would be both settled in INR. This would be a concrete step towards internationalisation of the rupee.
Indian firm UltraTech recently used Chinese yuan to buy Russian coal. This strengthens the internationalisation process of Yuan and given our competitive interests in the region, is not the best way out.
Internationalisation of rupee will be beneficial for India as it lowers transaction costs of trade and investment operations by mitigating exchange rate risk. By decreasing demand for foreign exchange, it supports the value of rupee. It will help our companies with lower hedging and borrowing costs and provides our financial companies scope for global expansion. It will also give India political leverage and increased soft power. These will go a long way in establishing a leadership position for India in the world in general and in the Asia Pacific region in particular.
Russia may have reservations on this due to the limited use of the excess rupee balances arising out of the bilateral trade deficit. But in the long term with Indian companies displacing West in exports to Russia, the trade deficit is expected to narrow. The process has already started. Confederation of All India Traders (CAIT) said that trade organisations from Russia are seeking assistance to connect with Indian manufacturers, traders and exporters.
The RBI noted in its report that internationalisation of rupee is inevitable, but it did point out some risks involved. This makes the simultaneous pursuit of exchange rate stability and a domestically oriented monetary policy more challenging. It can potentially limit the ability of the central bank to control domestic money supply and influence interest rates. However no worthy goal comes without some risks and we should embrace the challenges to claim our rightful place in the world. The RBI by recently allowing the trade to be denominated and invoiced in the Indian rupee has taken the first step.
India can use this opportunity to strengthen its ties with Russia. Holistically, this situation can provide a unique opportunity to strengthen our economic, energy and national security.
Anti-slip Film Faced Plywood veneer seam problems and production methods
In daily life, we often come into contact with Anti-slip Film Faced Plywood. Many people do not know about plywood. What is plywood? According to the introduction of plywood manufacturers, plywood is cut into veneer from wood segments or by planed wood. It is a three-layer or multi-layer plate-like material that is cut into thin wood and glued with adhesive. Generally, odd-numbered veneers are used, and the fiber directions of adjacent layers of veneers are glued perpendicular to each other.To get more news about commercial plywood, you can visit boosterplywood.com official website.
Anti-slip Film Faced Plywood is one of the commonly used materials for furniture. It is one of the three major panels of wood-based panels. It can also be used for aircraft, ships, trains, cars, buildings and packaging boxes. A group of veneers are generally divided into adjacent layers The wood grain directions are perpendicular to each other and the blanks are glued together. Generally, the surface board and the inner layer board are symmetrically arranged on the two ends of the center layer or the board core. Constrained under the condition of heating or non-heating, the number of layers is generally odd, a few are even, and the physical and mechanical properties of the vertical and horizontal directions are relatively small.
The commonly used types of Anti-slip Film Faced Plywood are three plywood, five plywood, etc. Plywood can improve the efficiency of wood and plywood, which is an important way to save wood.
Today's furniture boards, due to the different sizes of logs, sometimes need to be spliced. Today, let Anti-slip Film Faced Plywood manufacturers introduce to us the problems and solutions when splicing plywood.
One is that it is found to be too tight or too loose after sewing. This problem is mainly caused by improper adjustment of the feeding and tightening roller of the sewing machine. In such a situation, we only need to adjust the work surface of the sewing machine. The next pair of tapered squeeze rollers to fit.
The second kind that often occurs is that the ends of the veneer that are spelled out are uneven. This situation is mainly caused by the improper operation of the seam. When feeding on the machine with glue in the longitudinal direction, the ends of the two veneers are not aligned or single. If the board is not formed into a rectangle when the edges are aligned, it is necessary to know that there should be a datum when the veneer is aligned, and the veneer cannot be cut into a parallelogram.
The third situation is that the adhesive tape is not firmly attached after the Anti-slip Film Faced Plywood is spliced, resulting in not being strong. This happens because the adhesive tape is not sufficiently wet, and the temperature of the heating roller of the plywood manufacturer's seaming machine is too high or too low. The pressure of the upper roll is not enough. The treatment method is simple, and the tape can be fully wetted with water, check the heating roll, and increase the pressing force of the upper roll.
Who Will Bend the Knee in RaaS Game of Thrones in 2022?
For several years, ransomware attacks have dominated the headlines as arguably the most impactful cyber threats. The Ransomware-as-a-Service (RaaS) model at the time opened the cybercrime career path to lesser skilled criminals which eventually led to more breaches and higher criminal profits.To get more news about RaaS, you can visit glprobotics.com official website.
For a long time, RaaS admins and developers were prioritized as the top targets, often neglecting the affiliates since they were perceived as less skilled. This, combined with the lack of disruptions in the RaaS ecosystem, created an atmosphere where those lesser-skilled affiliates could thrive and grow into very competent cybercriminals, eventually with a mind of their own.
In a response to the Colonial Pipeline attack, the popular cybercrime forums have banned ransomware actors from advertising. Now, the RaaS groups no longer have a third-party platform on which to actively recruit, show their seniority, offer escrow, have their binaries tested by moderators, or settle disputes. The lack of visibility has made it harder for RaaS groups to establish or maintain credibility and will make it harder for RaaS developers to maintain their current top tier position in the underground.
These events have undermined their trusted position. Ransomware has generated billions of dollars in recent years and it’s only a matter of time before more individuals who believe they aren’t getting their fair share become unhappy.
The first signs of this happening are already visible as described in our blog on the Groove Gang, a cyber-criminal gang that branched off from classic RaaS to specialize in computer network exploitation (CNE), exfiltrate sensitive data and, if lucrative, partner with a ransomware team to encrypt the organization’s network. McAfee Enterprise ATR believes, with high confidence, that the Groove gang is associated with the Babuk gang, either as a former affiliate or subgroup. These cybercriminals are happy to put aside previous Ransomware-as-a-Service hierarchies to focus on the ill-gotten gains to be made from controlling victim’s networks, rather than the previous approach which prioritized control of the ransomware itself.
Trust in a few things remains important even among cybercriminals underground, such as keeping your word and paying people what they deserve. Cybercriminals aren’t immune from feeling like employees whose contributions aren’t being adequately rewarded. When this happens, these bad actors cause problems within the organization. Ransomware has been generating billions of dollars in recent years and with revenue like that, it was inevitable that some individuals who believe they aren’t getting their fair share become unhappy and let the cybercrime world know it.
Recently, a former Conti affiliate was unhappy with their financial portion and decided to disclose the complete Conti attack playbook and their Cobalt Strike infrastructure online. In the past, McAfee ATR has been approached by individuals affiliated with certain RaaS groups expressing grudges with other RaaS members and admins, claiming they haven’t been paid in time or that their share wasn’t proportionate to the amount of work they put in.
In 2022, expect more self-reliant cybercrime groups to rise and shift the balance of power within the RaaS eco-climate from those who control the ransomware to those who control the victim’s networks.
Best IoT door locks available to buy right now
Like much of almost everything else around us, the humble lock on our front doors too has gone for a smart makeover. The benefits to that are many, the first being that you will be saved from carrying a physical key all along. How many of us have had the experience of losing that key and having had a hard time getting into our own homes? But you can always call Locksmith Aurora for help.To get more news about fingerprint smart door lock, you can visit securamsys.com official website.
None of that with smart locks which allows for keyless operations, while there is the additional advantage of getting access to the smart locks just about from anywhere. Things though aren’t as simple when it comes to implementing the same on your home, more so when it has a direct bearing on the safety and security of your home. You got to know the nuances in the specifications of each before zeroing in on one that you think will suit your requirements.Here, we aim to provide you with an outline of some of the best IoT smart locks currently available so that you can make an informed purchase, or at least have an idea of what it is all about. Read On.
August Wi-Fi Smart Lock
The August Wi-Fi Smart Lock is one of the best you can have for complete all-round security. It also comes with integrated Wi-Fi which will save you from having to buy an additional Connect module that could set you back another $80. The smart lock otherwise comes with a retrofit August lock as well as a DoorSense open-close sensor. It is also almost half the size of its predecessor as well.
Among the other benefits of the smart lock is its compatibility with Siri, Google Assistant, and Alexa, besides both the Android and iOS platforms. The smart lock also provides unlimited user access and code while there will also be a log maintained, detailing all that has happened on the front door. It is easy to install too, thereby making it one of the best IoT smart locks with an all-round performance.
August Smart Lock and Connect
The third-generation smart lock from August is still good enough to make it to number two on this list. It comes integrated with a Connect Wi-Fi module as well as a DoorSense open-close sensor. Installation is easy too, for which you won’t have to get rid of your deadbolt lock as well. The smart lock can well supplement the deadbolt lock you might already have installed.
The smart lock also comes with a relatively cheaper price tag though that also entails making a few compromises. For instance, there is no Apple HomeKit compatibility while Z-Wave smarts too are out of bounds. Both of these would have allowed you to connect to a smart hub. The lock, otherwise, is compatible with Google Assistant and Alexa.
Schlage Encode Smart Lock
This too comes across as a basic no-frills smart lock. It comes with integrated Wi-Fi and is compatible with Amazon Alexa and Google Assistant. What that means is it can be operated simply using voice commands. It offers up to a max of 100 temporary or permanent keys by pairing with the Schlage Home app or Amazon Key. The keys can be entered via the capacitive touchpad it comes with.
Then there is an integrated alarm as well which will go off if there is a leak suspected. Installation is easy too and can be fitted onto any standard door as well. The smart lock integrates with Ring devices as well and offers multiple scheduling options.
Yale Conexis Smart Door Lock
The Yale Conexis smart door lock is another great choice, especially if you have a PVC or a composite door. In fact, the smart lock can easily fit onto any door that offers a five-point locking mechanism. Also, the Yale smart lock is unique in that it offers Bluetooth connectivity instead of Wi-Fi. The associated smartphone app allows for keyless operations and will allow entry to the keyholder as well as five other designated by you. There also is the RFID tag as well which serves as the backup. All of this makes the Conexis a really smart choice for a basic smart lock.
Ultraloq U-Bolt Smart Lock
The Ultraloq U-Bolt Smart Lock is one of the best around when it comes to providing complete all-round protection. For this, the U-Bolt offers five different levels of security mechanism, which includes the ability to lock or unlock via the smartphone. Then there is the shake-to-open feature as well, as is the anti-peek keypad and auto-unlock feature. Plus, there is the physical key as well should you need it.
The U-Bolt also offers a bridge too, which serves as a means to connect to Google Assistant and Amazon Alexa. The same also allows for remote control operations. What’s more, the smart lock can also be programmed to allow entrance during specific dates and duration of time on a temporary basis. This will be handy when say, you have an event at home and there would be guests coming in.
Shanghai eases into gradually reopening from its COVID-19 lockdown
Shanghai authorities say they will take some major steps Wednesday toward reopening China's largest city after a two-month COVID-19 lockdown that has throttled the national economy and largely bottled up millions of people in their homes.To get more news about shanghai covid cases, you can visit shine news official website.
Full bus and subway service will be restored as will basic rail connections with the rest of China, Vice Mayor Zong Ming said Tuesday at a daily news conference on the city's outbreak.
Schools will partially reopen on a voluntary basis for students and shopping malls, supermarkets, convenience stores and drug stores will continue to reopen gradually with no more than 75% of their total capacity. Cinemas and gyms will remain closed.Officials, who set June 1 as the target date for reopening earlier in May, appear ready to accelerate what has been a gradual easing in recent days. A few malls and markets have reopened, and some residents have been given passes allowing them out for a few hours at a time. In at least some chat groups, cynicism about the slow pace and stop-and-go nature of opening up gave way Tuesday to excitement about the prospect of being able to move about freely in the city for the first time since the end of March.
Shanghai recorded 29 new cases on Monday, continuing a steady decline from more than 20,000 a day in April. Li Qiang, the top official from China's ruling Communist Party in Shanghai, at a meeting Monday was quoted as saying that the city had made major achievements in fighting the outbreak through continuous struggle.
The success came at a price. Authorities imposed a suffocating citywide lockdown under China's "zero-COVID" strategy that aims to snuff out any outbreak with mass testing and isolation at centralized facilities of anyone who is infected.
Schools will reopen for the final two years of high school and the third year of middle school, but students can decide whether to attend in person. Other grades and kindergarten remain closed.
Beijing, the nation's capital, further eased restrictions Tuesday in some districts. The city imposed limited lockdowns, but nothing near a citywide level, in a much smaller outbreak that appears to be on the wane. Beijing recorded 18 new cases on Monday.
Forex Trading: A Beginner’s Guide
Forex (FX) is a portmanteau of foreign currency and exchange. Foreign exchange is the process of changing one currency into another for a variety of reasons, usually for commerce, trading, or tourism. According to a 2019 triennial report from the Bank for International Settlements (a global bank for national central banks), the daily trading volume for forex reached $6.6 trillion in 2019.To get more news about 嘉盛外汇, you can visit wikifx.com official website.
Trading currencies can be risky and complex. Because there are such large trade flows within the system, it is difficult for rogue traders to influence the price of a currency. This system helps create transparency in the market for investors with access to interbank dealing.
Retail investors should spend time learning about the forex market and then researching which forex broker to sign up with, and find out whether it is regulated in the United States or the United Kingdom (U.S. and U.K. dealers have more oversight) or in a country with more lax rules and oversight. It is also a good idea to find out what kind of account protections are available in case of a market crisis, or if a dealer becomes insolvent.
Read on to learn about the forex markets, what it's used for, and how you can get started trading.
What Is the Forex Market?
The foreign exchange market is where currencies are traded. Currencies are important because they allow us to purchase goods and services locally and across borders. International currencies need to be exchanged to conduct foreign trade and business.
If you are living in the United States and want to buy cheese from France, then either you or the company from which you buy the cheese has to pay the French for the cheese in euros (EUR). This means that the U.S. importer would have to exchange the equivalent value of U.S. dollars (USD) for euros.
The same goes for traveling. A French tourist in Egypt can’t pay in euros to see the pyramids because it’s not the locally accepted currency. The tourist has to exchange the euros for the local currency, in this case the Egyptian pound, at the current exchange rate.
One unique aspect of this international market is that there is no central marketplace for foreign exchange. Rather, currency trading is conducted electronically over the counter (OTC), which means that all transactions occur via computer networks among traders around the world, rather than on one centralized exchange. The market is open 24 hours a day, five and a half days a week, and currencies are traded worldwide in the major financial centers of Frankfurt, Hong Kong, London, New York, Paris, Singapore, Sydney, Tokyo, and Zurich—across almost every time zone. This means that when the U.S. trading day ends, the forex market begins anew in Tokyo and Hong Kong. As such, the forex market can be extremely active anytime, with price quotes changing constantly.
A Brief History of Forex
In its most basic sense, the forex market has been around for centuries. People have always exchanged or bartered goods and currencies to purchase goods and services. However, the forex market, as we understand it today, is a relatively modern invention.
After the Bretton Woods accord began to collapse in 1971, more currencies were allowed to float freely against one another. The values of individual currencies vary based on demand and circulation and are monitored by foreign exchange trading services.
Commercial and investment banks conduct most of the trading in forex markets on behalf of their clients, but there are also speculative opportunities for trading one currency against another for professional and individual investors.An investor can profit from the difference between two interest rates in two different economies by buying the currency with the higher interest rate and shorting the currency with the lower interest rate. Prior to the 2008 financial crisis, it was very common to short the Japanese yen (JPY) and buy British pounds (GBP) because the interest rate differential was very large. This strategy is sometimes referred to as a carry trade.
An Overview of Forex Markets
The FX market is where currencies are traded. It is the only truly continuous and nonstop trading market in the world. In the past, the forex market was dominated by institutional firms and large banks, which acted on behalf of clients. But it has become more retail-oriented in recent years, and traders and investors of many holding sizes have begun participating in it.
An interesting aspect of world forex markets is that there are no physical buildings that function as trading venues for the markets. Instead, it is a series of connections made through trading terminals and computer networks. Participants in this market are institutions, investment banks, commercial banks, and retail investors.
The foreign exchange market is considered more opaque than other financial markets. Currencies are traded in OTC markets, where disclosures are not mandatory. Large liquidity pools from institutional firms are a prevalent feature of the market. One would presume that a country’s economic parameters should be the most important criterion to determine its price. But that’s not the case. A 2019 survey found that the motives of large financial institutions played the most important role in determining currency prices.
Forex is traded primarily via three venues: spot markets, forwards markets, and futures markets. The spot market is the largest of all three markets because it is the “underlying” asset on which forwards and futures markets are based. When people refer to the forex market, they are thus usually referring to the spot market. The forwards and futures markets tend to be more popular with companies or financial firms that need to hedge their foreign exchange risks out to a specific date in the future.