![]() Instead they take the average from all their collected data over a 24 hour period, reflecting the fact that the foreign exchange market never really ‘closes’ on a global basis. Oanda trading platform do not take market closing prices as the ‘average’ price. The data is filtered and stored in a proprietary data repository. The exchange rates provided in Oanda’s Currency Converter and other tools are averages for the global foreign exchange market gathered from frequently updated sources, including OANDA fx Trade currency platform, leading market data vendors, and contributing financial institutions. Oanda’s Currency Converter have over 30+ years if historical data for over 38,000 forex rates from over 200 and more currencies, commodities, and previous metals. They also have direct access to real time FOREX rates, so you can be assured that the data they provide is always accurate and reliable. They collect these rates from data suppliers, filter them to remove false prices and validate the data, and use the filtered data to compute inter bank market rates. For major currency pairs, their rates are based on tens of thousands of different price points, collected every few seconds, 24 hours a day, 365 days a year. Oanda’s rates are really trusted and used by major corporations, tax authorities, auditing firms and individuals globally. You can also have access to currency exchange rates dating back to 1960.Īnother set of people looking at currency converters to use, there is every reason why you should go for Oanda Currency Converter, as i will be stating the different reasons why you should use Oanda’s Currency Converter Reasons You Should Use Oanda Currency Converter 1. You can also convert world currencies, precious metals, or obsolete currencies. Now most people don’t even know how Oanda’s Currency Converter can be used, for you to able to use Oanda’s free currency converter, type into the relevant field currency names, 3 letter ISO currency symbols, or country names to select the right currency. You should also know that Oanda’s rates are foreign exchange rates compiled from leading market data contributors. Oanda’s Currency Converter simply allows you to check the latest foreign exchange average bid rates and convert all major world currencies. 2 Reasons You Should Use Oanda Currency Converter.Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Opinions are the authors not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. It is not investment advice or a solution to buy or sell securities. ![]() This article is for general information purposes only. There is resistance at 1.0935 and 1.0776.GBP/USD faces resistance at 1.1085 and 1.1214.Unless inflation surprises sharply to the downside, the release will not cause the Fed to rethink its hawkish policy. Headline inflation is expected to fall to 8.1% in September, down from 8.3% in August, but core CPI is expected to rise to 6.5%, up from 6.3%. In the US, inflation will be in focus this week, with PPI data on Wednesday and CPI a day later. On Wednesday, the UK releases GDP for August, which is expected at 0% MoM, down from 0.2% in July. There are concerns that if the BoE does not renew its bond-buying, the result could be another exodus from UK government bonds. The BoE was forced to intervene on an emergency basis after the mini-budget almost caused a bond market crash, and investors have circled October 14th, which is the expiry date of the BoE’s gilt-buying intervention. The strong job market bolsters the likelihood of the Bank of England will deliver some tough medicine at its November meeting, perhaps a super-size rate hike of 1.0%. These rosy numbers are dampened by an inflation rate of 9.9%, which has badly hurt real UK incomes. Unemployment in the three months to August dipped to 3.5%, down from 3.6%, while average earnings jumped to 6.0%, up from 5.5% and ahead of the consensus of 5.9%. The UK labour market is one of the few bright spots in the economy, and today’s employment report reaffirmed that the job market remains tight. GBP/USD dropped below the symbolic 1.10 line earlier today, and a break below 1.10 will likely increase talk of the pound following the euro and dropping to parity with the dollar. The pound has not posted a winning day since October 12th and has lost 400 points during that time. In the North European session, GBP/USD is trading at 1.1035, down 0.18%. GBP/USD is trading quietly for a second straight day.
0 Comments
Leave a Reply. |