Foreign Exchange Resource: Free Currency Exchange Rates ...

Forex & Currency Update #26 (November 06, 2020): Forex Reserves in SBP - $12.74 Billion (+4.58%); USD/PKR - 158.11 (-0.652%)

I don't even know how often I should update.
The percentage changes in the title are compared to the figures seven days ago.

Size of the Forex Reserves of Pakistan since October 02

Date Foreign Exchange Reserves in the SBP Week-on-Week Percentage Change (In SBP) Month-on-Month Percentage Change(In SBP)** Total Foreign Exchange Reserves Week-on-Week Percentage Change (Total) Month-on-Month Percentage Change (Total)**
October 02, 2020 $12.1547 Billion -1.66% -5.10% $19.3510 Billion -0.94% -3.06%
October 09, 2020 $11.7984 Billion -2.93% +7.97% $19.0155 Billion -1.73% -4.73%
October 16, 2020 $12.0666 Billion +2.27% -5.00% $19.3016 Billion +1.50% -3.03%
October 23, 2020 $12.1215 Billion +0.45% -1.93% $19.2965 Billion -0.03% -1.22%
October 29, 2020* $12.1826 Billion +0.50% +0.23% $19.3536 Billion +0.30% +0.01%
November 06, 2020 $12.7405 Billion +4.58% +7.98% $19.9069 Billion +2.86% +4.69%
*October 30, 2020 was a public holiday
**A month refers to four weeks, as the data is released on a weekly basis.

USD/PKR Mid-Market Daily Average Exchange Rate since October 02

Date USD to PKR Exchange Rate Week-on-Week Percentage Change Month-on-Month Percentage Change**
October 02, 2020 164.62595 -1.0503% -0.7520%
October 09, 2020 163.78035 -0.5136% -1.3190%
October 16, 2020 162.69505 -0.6627% -1.8605%
October 23, 2020 161.54865 -0.7046% -2.4914%
October 29, 2020* 160.37880 -0.7241% -2.5799%
November 06, 2020 159.15100 -0.7656% -2.8266%
November 13, 2020 158.11275 -0.6524% -2.8165%
*October 30, 2020 was a public holiday
**A month refers to four weeks to keep consistent with the last chart
Foreign Exchange Reserve Size Source
Forex Data archived on November 14, 2020
USD/PKR Exchange Rate Source
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Your Pre Market Brief for 07/16/2020

Pre Market Brief for Thursday July 16th 2020

You can subscribe to the daily 4:00 AM Pre Market Brief on The Twitter Link Here . Alerts in the tweets will direct you to the daily 4:00 AM Pre Market Brief in this sub.
Updated as of 4:45 AM EST
-----------------------------------------------
Stock Futures:
Wednesday 07/15/2020 News and Markets Recap:
Thursday July 16th 2020 Economic Calendar (All times are in EST)
(JOBLESS CLAIMS TODAY)
News Heading into Thursday July 16th 2020:
NOTE: I USUALLY (TRY TO) POST MANY OF THE MOST PROMISING, DRAMATIC, OR BAD NEWS OVERNIGHT STORIES THAT ARE LIKELY IMPORTANT TO THE MEMBERS OF THIS SUB AT THE TOP OF THIS LIST. PLEASE DO NOT YOLO THE VARIOUS TICKERS WITHOUT DOING RESEARCH! THE TIME STAMPS ON THESE MAY BE LATER THAN OTHERS ON THE WEB.
Upcoming Earnings:
Commodities:
COVID-19 Stats and News:
Macro Considerations:
Most Recent SEC Filings
Other
-----------------------------------------------
Morning Research and Trading Prep Tool Kit
Other Useful Resources:
The Ultimate Quick Resource For the Amateur Trader.
Subscribe to This Brief and the daily 4:00 AM Pre Market Brief on The Twitter Link Here . Alerts in the tweets will direct you to the daily brief in this sub
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Forex Trading Strategies Reddit: What you need to know to start Forex trading.

Forex Trading Strategies Reddit: What you need to know to start Forex trading.

FOREX Strategies

What are FOREX Strategies?
https://preview.redd.it/ihmphstzguv51.jpg?width=960&format=pjpg&auto=webp&s=81f6b73c367d8695605514f8d32aaf3e2aeabc6e
You may have noticed that most of people confuse the terminology and refer to FOREX Strategies in the wrong way. There are methodologies, systems, strategies, and techniques. The most effective methodology is Price Language (Trend Tracking). Combined with a correct reading of mass psychology presented by the charts.
We know that in the Stock Markets there are thousands of strategies. FOREX, like the rest of the markets, presents you with the opportunity to apply similar strategies to win consistently. Taking advantage of repetitive psychological patterns.
First, the Price Language methodology has created great fortunes in FOREX, and the next fortune may be yours. But this methodology must be implemented within a framework of advanced concepts of Markets. Without forgetting the basics. And working hard day by day.
Second, a strategy is a set of parameters and techniques that together give you the advantage to act in any situation. Thus for example in war, generals have attack strategies and counterattack strategies.
FOREX strategies alike are entry strategies and exit strategies. All beginners should know these FOREX strategies for beginners. That way you will get a general idea of ​​the game and understand that trading is a war against the Market and its Specialists. Only applying FOREX strategies revealed by the same Specialists and using their own techniques,
... you can survive in this war.
Do not fall into the trap of the many "systems" and "methods" that are offered on the internet about operating in the FOREX Market. They just don't work in the long run. They are strategies based on indicators for the most part. Using rigid parameters. That if they can work and give profitability during a certain period of time, they will always reach a breaking point when the market changes its dynamics.
Instead, take advantage of your precious time and learn the Language of Price or Price Action.
The Language methodology will allow you to adapt to each new phase of the Market. If you combine this knowledge with the appropriate psychological concepts, you can live comfortably from speculation in FOREX.

Forex Trading Strategies Reddit - Basic FOREX Strategies

You have two basic FOREX strategies, one entry, and one exit. Both follow a general strategy that helps you capitalize on the collective behaviors of the Market. That is, of the total of participating speculators.
This behavior causes the formation of cycles that repeat over and over again. Driven by the basic emotions (uncertainty, greed, and panic) of the speculators involved that can be taken advantage of with the aforementioned FOREX strategies. Specialists identify these emotions in the order flow and capitalize on these events every hour, every day, and every month.
Basic FOREX Strategies - The Price Cycle
These repetitive cycles consist of 4 phases:
  1. Accumulation
  2. Upward trend
  3. Distribution
  4. Downward trend
https://preview.redd.it/6dvk2w0pduv51.png?width=300&format=png&auto=webp&s=a3ab65ca4eab6d20174b3327b862d8b59dcc13b7
The two trends can be easily identified by their notorious breakdown. And the two areas of uncertainty (accumulation and distribution), due to their notorious range trajectories.
This general behavior determines the core of our FOREX strategies.
You buy when the price of a pair has broken and has come out of one of its congestion formations (accumulation or distribution). You implement one of the Forex strategies, in this case, the entry one.
The multi-time technique will help you find the point of least risk when entering your initial buy or sell order. In the same way and using the same strategy but this time to close your position, the multiple timing technique will also show you how to close your operation obtaining the highest possible profit.
The most consistent way to extract profits in the market is by trading the start of trends within a cycle . Once confirmed by their respective breaks from the areas of uncertainty. This is the mother of all FOREX strategies . And in a market that operates 24 hours, we have more frequent cycles and therefore more opportunities.

Forex Trading Strategies Reddit - Advanced Forex Strategies

There are many advanced FOREX strategies that are generally used by professional speculators working for large financial firms.
Among these firms are banks, Investment Fund managers and Hedge Fund managers. The latter is an investment modality similar to Investment Funds, with the difference that Hedge Funds use more complex investment strategies. Its operations are more oriented to aggressive speculations in the short and medium-term.
Among the most common strategies is hedging (hedging), carry trade, automated systems based on quantum mathematics. And a large number of combinations between the different option strategies.

The Carry Trade

The central idea of ​​Carry Trade is to buy a pair in which the base currency has a considerably higher interest rate than the quoted currency. To earn the difference in rates regardless of whether the price of the pair rises or falls.
Suppose we buy a $ 100,000 lot of AUDJPY, which according to the rates on the chart would turn out to be the ideal instrument in this example to use the Forex carry trade strategy.
As our capital is in US dollars we have to assume for our example, the following quotes necessary to perform the place calculations:
AUD / JPY = 80.00 USD / JPY = 85.00
What happens internally in your broker is this.
  1. By placing as collateral $ 1,000 of your $ 50,000 of capital (assumed for this example), deposited in your account, you have access to $ 100,000 virtual (this is what is known as leverage); that is, you put in $ 1,000 and your broker lends you 99,000.
  2. With those $ 100,000 virtual dollars, your broker borrows on your behalf ¥ 8,500,000 Japanese yen (85 × 100,000) at 0.1% annual interest from a Japanese bank.
  3. With those ¥ 8,500,000 Japanese yen, your broker buys A $ 106,250 Australian dollars (8,500,000 / 80) and deposits it in an Australian bank where it receives 4.5% annual interest on your behalf.
  4. One year later (and regardless of the profit or loss generated by the pair's movement), your profit will be the difference between the AUD rate and the JPY rate, that is:
Profit = (AUD rate) - (JPY rate) - (costs of the 2 currency exchanges) Profit = (4.5%) - (0.1%) - (0.1% to 1%)
The great advantage of carry trade FOREX strategies is that this percentage profit is applied to the $ 100,000 of the standard lot; the broker transfers all of the profit to you, even if you only contributed $ 1,000. On the other hand, if you carry out the inverse of this operation, this benefit of the Forex carry trade becomes a cost (swap), and you assume it completely.
Remember that FOREX carry trade strategies are recommended for pairs with considerable interest rate differences, such as the one we have just seen in our example.
These FOREX strategies should also not be used in isolation. The idea is that through technical analysis you identify when would be the ideal time to enter the market using your carry trade Forex strategy and multiply your profits considerably.

What FOREX Strategies Do Hedge Funds Use?

The FOREX strategies used by large fund managers do not constitute an advantage in terms of percentage results for them, nor do they constitute a competitive disadvantage for you.
The vast majority of them fail because of their big egos. In fact, there was a firm made up of great financial geniuses, including 2 winners of the Nobel Prize in Economics, who developed a strategy based on quantum mathematical calculations.
With an initial base capital of about 3 billion dollars, and after 3 successful years obtaining annual returns of over 40%, the firm Long-Term Capital Management, begins its fourth year with losses. To counteract these losses the geniuses decide to multiply the initial capital several times, while the losses continued.
The year closed with the bankruptcy of the fund, and with a total accumulated loss of 1 trillion dollars, due to the great leverage used. And all for not admitting that the FOREX Strategies of Long Term Capital Management were not in line with the dynamics of the Market.
There are an overwhelming number of opportunities in the stock markets to make money interpreting the Language of Price.
You don't need to use complex "advanced" strategies that have been created to handle hundreds or billions of dollars.
The reasons for using these FOREX strategies are very different from what a "retail trader" pursues with his small speculation business.
As you can see, you should not worry about wanting to integrate any of these advanced strategies into your arsenal. They are only beneficial for managing hundreds or billions of dollars, where the return parameters are very different when you handle small amounts of capital.
Do not worry about collecting hundreds of free FOREX strategies that circulate on the internet, that great accumulation of mediocre information will only serve to confuse you and waste your valuable time.
Spend that time learning Price Action,
… And you will always be one step behind the Specialists, identifying each new Market condition, and anticipating the vast majority of reversals of all prices.
Ironically, the most successful fund managers indicate that their most profitable trades are those based on the basic trend-following strategies of the Price Language. The same ones that you will learn in this Free Course.
Dedicate yourself to perfecting them and believe me you won't need anything else. As long as you have good risk management, taking into consideration the following points ...

Styles of Investments in FOREX

The Investment FOREX long term is not recommended for small investors like you and me. If we take into account the term investing literally as large investors do who buy a financial product today to sell it years later.
We both have a better niche in the short and medium-term.
You may have noticed that the big multi-year trends in the Forex Market do exist. But minor swings within a big trend are usually very wide.
These minor movements allow us to easily double and triple the annual return of the big general trend, motivating most traders to speculate in the short and medium-term.
These minor oscillations or trends that occur within the large multi-year trends owe their occurrence mainly to two reasons.
First, the FOREX Market presents 3 sessions a day each in different cities of the world with different time zones (Asia, Europe, and America). This causes more frequent trend changes than in the rest of the stock markets.
Second, the purpose for which it was created also plays a role. The modern Foreign Exchange Market, since its inception in 1972, was conceived by the global financial system as a tool for speculation. To obtain benefits in the short and medium-term (from several days to 1 year).
These two points are basically the reasons why we observe the immense speed with which the FOREX market changes trends.
For example, for those who live in America, in the early morning (Europe) the EURUSD pair may be on the rise, in the morning or afternoon (America) it may be down, and then finally at night (Asia) it may return to the rise.

Define your Own Style for your FOREX Investments

One of the first decisions you will have to make is to choose your style as a trader or investor.
There are 4 types of well-defined styles.
Most professional traders tend to have multiple styles, although they always identify with one primary style for their FOREX investments. Study the characteristics of the 4 main styles to make your investments in FOREX :
1. Long Term: recommended for anyone who is going to enter the market for the first time and who can dedicate a minimum of one hour per month to their investments in Forex. The period of an open position ranges from 1 year to 5 years.
2. Medium Term: recommended for anyone who is going to enter the market for the first time and who can dedicate a minimum of one hour per week to their investments in Forex. The period of an open position ranges from 1 month to 1 year.
3. Short Term: recommended for anyone who is going to enter the market for the first time, or who already has a certain time operating in the long and medium-term, showing constant profits, and who can dedicate a minimum of one hour per day to your investments in FOREX. The period of an open position ranges from 1 day to 1 month.
4. Intraday : recommended only for people with a fairly solid earnings record in the short term, and with a capital greater than $ 50,000. As we have noted, this option constitutes a full-time job.
People who start investing in FOREX , should start executing short-term (weeks) and medium-term (months) transactions only, and not pay attention to intraday oscillations (day trading).
If you are interested in being an intraday speculator, I recommend that you first exhaust at least a year doing operations in the short and medium-term to assimilate the correct strategies and to develop the necessary mentality to carry out this work.
The second option would be to participate in some kind of intensive training.
I remind you that self-educating is almost impossible in speculation. You are likely to accumulate a lot of knowledge by reading books and attending courses. But you will probably never learn to make money with all the incomplete "systems" circulating on the internet.

Mistakes to Avoid When Looking for Your Style

Many people who are new to FOREX investments make the mistake of combining these styles, which is a key to failure.
I recommend that if you are not getting the results you expected by adopting one of these styles, do not try to change it. The problem sure is not in the style, but in your strategies or in your psychology.
A successful investor is able to make a profit in any longer trading time than he is used to. I explain. If you are already a profitable operator in the short term, it is very likely that you will also be profitable in the medium and long term,
… As long as you can interpret the Language of Price or Price Action.
In the opposite case, the same would not happen. If you were a medium-term trader, you would need time to adjust to the intraday. The reality is that long, medium and short term traders have very similar personalities. The intraday trader is completely different.

The Myth of the Intraday in Investments in FOREX

If you are already successful in the short, medium and long term, you will notice that the sacrifice and the hours necessary in front of the computer to operate intraday is much greater. The intraday style will be useful to increase your account if it is less than USD $ 100,000 in a very short time in exchange for 8 to 12 hours a day of hard work but ...
You must first develop the necessary skills to operate the intraday.
The ideal is to combine all the styles to get more out of the Market and carry out more effective transactions and have a diversification in your investments in FOREX.
There are intraday traders that are very successful, but the reality is that there are very few in the world that make a profit year after year. If you want to become an intraday, you just have to prepare yourself properly through intensive training.
Otherwise, I recommend that you don't even think about educating yourself to adopt the intraday style. It is not necessary to go against a probability of failure greater than 99%. Unless
... your ego is greater than your common sense.
The main reason why this style of investments in FOREX is not recommended for the vast majority of us "retail investors" (the official term "retail traders"), is the high operational cost.
The real commissions in this market range between $ 2.0 and $ 2.50 for each lot of 100,000 virtual units. This means that a complete operation (opening and closing) is approximately $ 5.00, for each standard lot traded ($ 100,000 virtual).
Another fundamental reason is the advent of robotic traders (HFT = High-Frequency Trading), which tend to manipulate the market in the shorter intraday swings. Please do not confuse HFTs with automated systems that we find daily on the internet, and that can be purchased for a few hundred dollars and often for free on FOREX forums / groups.
These HFTs to which I refer, they are effective. They cost millions of dollars and have been developed by the large Wall Street financial firms to manage their investments in FOREX.
The reality of the intraday trader is that you execute orders for large lots at the same time, to profit from the smallest movements in the market. It is an activity based on reflexes. The slightest oversight or distraction can turn into a catastrophe for your FOREX investments.
I recommend that you start investing in FOREX using slow time periods such as H4 or Daily. For some reason, all Goldman Sachs intraday FOREX investments are made with algorithms.

Finally…

To choose your style as a trader and manage your investments in FOREX, first determine what your degree of experience is, analyze the points mentioned below and the rest you will discover when you execute your first operations.
The points that will affect your decision are:
  • Capital
  • Time available each day
  • Level of Experience
  • Personality
Discovering your style is a search process. For some it will be a long way to find the right time frame that matches their personality. Don't be put off by the falls. After all, those who continue the path despite the falls are the ones who reach the destination.
And I hope you are one of those who get up over and over again. The next lesson will boost your confidence when you discover the main reason that moves currencies ...

Fundamental Analysis in Forex Trading Reddit

The fundamental analysis in Forex is used mostly by long-term investors. Players as we saw in the styles of operators, start a negotiation today, to close it years later.
I always emphasize the importance that the mass media give to this type of analysis to distract the great mass of participants.
It is all part of a great mass psychological manipulation. For centuries the ignorance of the masses has been organized before the great movements begin.
The important news are the macroeconomic reports published by the Central Banks and other government agencies destined for this work. All reports are made up. 99% of them are corrected months later.
These events are tools to justify fundamental analysis and price cleaning movements. Any silly headline does the job. With this, it is possible to absorb most of the existing liquidity, before the new trend phase is projected.

Reaction!

Except in rare situations, the result of an economic report of the fundamental analysis is generally already assimilated in the graph. In most cases, there are financial institutions that already have access to this information and are organizing and carrying out their operations in advance.
The phrase buy the rumor and sell the news is a very old adage on Wall Street. And its meaning contains what we have just explained. For the investor who can interpret the Language of Price, fundamental analysis is of little importance. Well, in general, their disclosure does not indicate that you have to take any action in your open trades , as long as your entry strategy provides you with a good support cushion.
This reality of fundamental analysis causes a lot of confusion for investors who lack in-depth knowledge of the forex market.

Macroeconomic Data

The data published in these events is irrelevant. Both for speculators and for the people in general. They are false. They lack reliability.
The price can go up or down with the same result of the data. The main ones are:
- Interest Rates - GDP (gross domestic product) - CPI (inflation) - ISM (manufacturing index) - NFP (payroll) - Double Deficits (deficit = fiscal + balance of payments)
If you are initiated, I recommend you avoid operating near these events. It is only a matter of having the time pending. Use the economic calendar for Fundamental Analysis of Forex Factory.
There is a probabilistic advantage in operating these fundamental analysis events. But it takes preparation, experience, and practice. They represent a way of diversifying in the general operation of a speculator.

The Uncertainty of Fundamental Analysis

On many occasions after the disclosure of an economic report, the price movement of the currency pair that is going to be affected tends to move in the opposite direction to the logic of the report.
I show you an example of a fundamental analysis report. Imagine that the EUR / USD pair is trading at 1.2500, and the FED (US Federal Reserve) issues a statement announcing that it has just raised inter-bank interest rates from 0.25 points to 0.75 points. Very positive news for the US dollar that logically implies an appreciation of the currency and consequently an instantaneous collapse of the EUR / USD pair (up the dollar and down the euro)
However, minutes after the release of said fundamental analysis report, the pair after effectively collapsing to 1.2400, returns and returns to its levels prior to the report (1.2500). This situation is very common , but it is not so easy to identify it when it is occurring, but after the damage is done.
Traps like these devour the accounts of beginners who approach the market with little experience, with weak strategies, and especially with very little experience.
That is why I reiterate that you forget the fundamental analysis for now. Just keep in mind when operating, that there is no publication scheduled nearby. Just check the economic calendar for the day and forget about the numbers. Let the economists mess around with the data.

FOREX Market Correlation

The Forex market correlation exists between pairs with similar "base" currencies and not always under the same circumstances. The correlation in the Forex market that is most followed and that has the greatest impact on fundamental analysis is that of the US dollar (USD).
The USD is the most traded monetary unit with a volume greater than 80% with respect to the rest of the currencies. This fact determines why their correlation is the most important, the most followed, and perhaps the only one worth following in the fundamental macro analysis.
The 7 major pairs are usually in sync . These 7 pairs all include the USD and present a fundamental analysis correlation almost 75% of the time. Influencing the rest of the currency pairs.

Advantages of the FOREX Market Correlation

In the fundamental analysis the most basic FOREX correlation is the following. When the USD appreciates, the USD / CAD, USD / CHF, and USD / JPY pairs tend to go up in price. This indicates that the Canadian dollar (CAD), the Swiss franc (CHF), and the Japanese yen (JPY) are losing value against the USD.
We must bear in mind that this correlation does not occur 100% of the time. In fact, the JPY generally tends to move in the opposite direction , since in recent decades this currency has been used as a source of financing to invest in other financial instruments.
On the other side is the FOREX market correlation that generates a movement almost in unison in the other 4 major pairs EUR / USD, GBP / USD, AUD / USD, and NZD / USD. These tend to fall in price, homologous the appreciation of the USD. But not always.
In this case the fundamental analysis correlation works most of the time, between 65 and 85% of the time. Small differences are noted in the extent that each of these pairs experiences.
There is also a correlation in the secondary FOREX market, where the pairs of all currencies that do not include the USD participate, but I recommend you not to waste time on them for now. There are more important things about the Language of Price to know first.

FOREX Commodity Correlation

In this part I will explain to you in a basic way the Correlation Commodities - FOREX of the fundamental analysis.
There are three currencies that have a direct correlation with commodities. They are usually called: "COMDOLLS" which is short for "Commodities Dollars" (Commodities Dollars), since all three obey the dollar denomination. These are:
- The New Zealand Dollar (NZD) - The Australian Dollar (AUD) - The Canadian Dollar (CAD)
These three currencies make up the group of the 8 largest together with the euro, the pound, the yen, the franc and the US dollar. Together, they merge to produce the major pairs traded in the FOREX Foreign Exchange Market.
The FOREX Commodity Correlation has an affinity in most cases greater than 75%. And each of them has its different raw material of correlation. You will notice that the NZD and the AUD are two currencies that act practically in unison. Both present minimal discrepancies in their fluctuations in the short, medium and long term.
This is mainly because their economies are very similar and their economic and fiscal policies are too. Their main production items also show great similarities, despite the fact that the Australian economy is much larger than the New Zealand economy.
The raw materials that follow the movement of the AUD are mainly gold and copper. If you put the history of these three quotes during the last decade of the year 2,000 together on the same chart, you will notice a very similar upward movement between the three quotes. Pure correlation of fundamental analysis.
This strong correlation with commodities in the metals area for the AUD has provided Australia with an economic advantage enviable over the other major powers that have seen their currencies devalue sharply against the AUD. At the same time, they experience a constant decrease in the purchasing power of their citizens.
The NZD maintains a correlation with raw materials related to agriculture and livestock, mainly including milk and its derivatives. It is one of the countries that dominates the world export of these economic items, and also has important exports of metals , although in smaller quantities than Australia.
Finally, you have a correlation with raw materials in the energy area. For historical reasons the CAD, which is not the largest oil producer in the world, but an important supplier to the largest consumer that is the US, has seen its currency oscillate in line with oil prices.
To make long-term investments in the Foreign Exchange Market, it is necessary to take into consideration at least one Commodity Correlation - FOREX in your fundamental analysis.

Forex Technical Analysis Reddit

The technical analysis is the methodology that interprets the movements of the price. Specialists look for liquidity to fund their business. The repetition of the strategies used by the specialists in their work generate repetitive patterns.
If you were an analyst, you would develop the visual ability to identify such patterns on a graph. If you were a programmer you would quantify them mathematically using complex formulas.
And if you could learn to interpret the Language of Price, you would have the ability to anticipate 90% of all movements that occur on a chart. And in this business, anticipating is what will make you money.
Market prices are reflected and framed on a horizontal time axis and a vertical price axis. Prices go up or down according to the aggressiveness of the participating operators. In an efficient or balanced market these oscillations should be imperceptible.
But in reality this is not the case, since the Market works thanks to the digital printing of hundreds of billions of units of paper money systematically distributed by the Central Banks through the banking system. These resources serve as a tool to manipulate 100% of the movements that occur in the FOREX Market.
Are you looking for Technical Indicators? All technical indicators were created from the 70's. How do you think that for more than 200 years the speculators of the past accumulated great wealth?
With the Language of Price. The best timing is given by the price itself. Indicator-generated entry signals usually occur at the wrong time.
The basis of technical analysis is human psychology. Unfortunately, human beings are not perfect and are loaded with emotions that dominate their behavior in similar situations, creating repetitive and highly predictable behavior when it occurs in masses.
The study of technical analysis through indicators and subjective training, originates and shapes the collective thinking on which all the traps that specialists execute every day to maintain their business are designed. If the majority won, the Market would cease to exist.
Although you already know that the patterns are not generated by the masses , but the repetitive behavior of the Specialists in the face of the action response of the masses. It is very easy for speculaists, because they can see everyone's orders in their books.
And they also exert a great influence on the decisions of the masses through the mass media. It is what I call the war between the Egg and the Stone , if you hit me you win and if I hit you also you win.

The Deception of Modern Technical Analysis

Through the centuries thousands of people have been able to extract great benefits from the financial markets by applying the basic strategies of technical analysis and the psychology of the Price Language.
More than 200 years ago when the markets began to operate officially, fundamental analysis predominated, which was only used by large financial institutions. As this analysis tool began to become popular, these institutions began to apply the strategies of technical analysis.
In recent decades and with the massification of internet technology, technical analysis has begun to be handled by anyone who has a computer with internet access. The same financial institutions, which have been present for more than a century and as a result of this overcrowding , establish a strategy to confuse and misinform about the true strategies of technical analysis.
This has been accomplished in the following manner. Currently there are hundreds, if not thousands of technical indicators that have been developed by so-called "gurus" of technical analysis and that sell their magic indicators packed in a "system" or "method" that usually cost thousands of dollars, or simply with the publication of a book with which they generate large profits. Double benefit.
The aim is to confuse the initiates in speculation and create the collective mentality that will originate the same behaviors over and over again. About 95% of these new entrants completely lose all the capital they invest in their early stages as investors.
Leaving them with a negative experience and creating the idea and the image that financial markets are an exclusive area for geniuses with high academic levels and that only they can produce returns in the markets year after year.
The initiate, having lost all his original capital, turns to these “gurus” for help and teachings. You spend more capital on the products they offer you and the cycle repeats itself . Obviously, the vast majority do not relapse and completely forget to re-engage in the stock markets.
I hope you have not been a victim of this drama.
Now I will show you the simplicity of a FOREX technical analysis , without the need to resort to any indicator as a tool to determine an effective entry or exit strategy when planning your operations.

The Price Cycle

Previously you studied in the FOREX strategies lesson, that the typical price cycle when it is reflected in a graph, presents four very specific phases and very easy to identify if you perform a technical analysis with common sense . These are:
  • Accumulation
  • Bullish trend
  • Distribution
  • Bearish trend
Remember also that the most effective way to constantly extract profits in the markets is by taking advantage of phases 2 and 4 (the trends). Combined with a correct reading of the collective behavior of the masses of speculators interpreting the Language of Price.
You will be surprised by the simplicity with which thousands of people around the world and over the centuries have accumulated large sums of money by drawing a few simple lines and applying responsible risk management with their capital.

How to Identify Trends?

Being able to determine the trend phases within the price cycle is the essence of technical analysis since it is these two phases that provide you with the probabilistic advantage you need to operate in the markets and obtain constant returns.
In the most plain and simple language, in the world of technical analysis, there are only two types of formations: trends and ranges.
The trends, in turn, can be bullish if they go up, or bearish if they go down. The ranges, on the other hand, can be accumulation if they are at the beginning of the cycle, or distribution if they are in the high part of the cycle. As I had indicated in the topic of FOREX strategies when describing the price cycle.
This sounds more like a play on words, but I will show you the practical definition to simplify your life and then you will apply these definitions on the graph so that everything makes more sense to you.
  • Bullish trend: a succession of major highs and major lows
  • Bearish trend: a succession of minor highs and minor lows
  • Floor Range: equal highs and varied lows
  • Ceiling Range: equal minimums and varied maximums
https://preview.redd.it/vvmsshf0guv51.png?width=600&format=png&auto=webp&s=c321679a7dcc03f7184778be86379ef442fddf91
Some key points from the graph:
  • The start of this big uptrend was detected when the last high (thick green line) of the previous downtrend was broken to the upside, ending the succession of lower highs, while exiting the lateral floor formation.
  • The succession of major lows in the uptrend (thin blue lines)
  • The succession of major highs in the uptrend (thin green lines)
  • The end of the uptrend was detected when the last low (thick blue line) of the uptrend was broken to the downside, ending the succession of higher lows, while exiting the lateral ceiling formation.
A tool that will help you sharpen your technical eye and identify trends on the chart is the Currency Scanner. This application is very effective and will provide you with a much-needed boost in your operations to identify reliable trends. At first, we are not sure how reliable a trend is. You will receive great help to find opportunities with the Currency Scanner .

The Common Sense, The Less Common of Senses

The central idea of ​​technical analysis consists in determining the price situation of a market, that is, in which phase of the pattern of its cycle it is currently conjugated with the collective thinking of the masses and the possible traps that the market would have prepared to remove. the capital at stake by the public.
To carry out a precise technical analysis, you will use the support and resistance lines, which can be static (horizontal) or dynamic (projecting an angle with respect to the horizontal axis).
Your common sense prevails here.
If you show a 10-year-old a chart, they will be able to tell you if the price is going up or down. You will most likely have no idea how to draw the lines, but you will be able to establish the general trend. Simply using your common sense.
By introducing indicators and other gadgets , the simplicity and effectiveness of the technical analysis created by your common sense evaporates.
The following graph conceptually shows you all the possible situations in which you could draw these lines to carry out your technical analysis of the place. You can clearly observe a downtrend delimited by its dynamic trend line and an uptrend on the right side with its respective dynamic delimitation.
https://preview.redd.it/5iehg0r6guv51.png?width=500&format=png&auto=webp&s=84c265a5d35da7ea970792c4bf40fe20b33bd8bd

Forex Charts Analysis

I want to remind you that the formations or patterns that develop on the charts (triangles, wedges, pennants, boxes, etc.) only work to execute trades that have initially been confirmed by the static support and resistance lines and to read the collective thinking of the masses.
Chart formations work, but you must know the Language of Price to determine when the Specialists will exploit a chartist figure, or when they will allow it to run. In fact, you will learn with the Language that you can operate a chart figure in any direction.
Much of the "mentalization" that the masses receive is to believe that the figures are made to be respected. Which is an inefficient way of working. Simply because you could wait days or months for a perfect chart figure to occur in order to perform a reliable trade. When in fact there are dozens every day.

Japanese Candles

Of all the tools you have to carry out technical analysis, perhaps the best known and most popular is the Japanese technique of candles (candlesticks).
Candles are mainly used to identify reversal points on the chart without resorting to confirmation of horizontal trend lines and only using a previous bar or candle breaks.
Its correct use is subject to a multi-time analysis (multiple temporalities) and a general evaluation of the context proposed by the market in general at the time of each scenario.
Later I will show you all the important details to take into account so that you use Japanese candles in a simple and very effective way.
Do not forget ... Trading in your beginnings based on formations (chartism) and candlestick patterns conjugated with hundreds of tools and technical indicators, constitutes the perfect path to your failure. Before using any strategy or technique I recommend you focus on learning the Price Language, which includes 3 basic things:
  • The Price: structure and dynamics
  • Market sentiment: relative strength, external shocks, etc.
  • Psychology: flexible mindset and risk acceptance
After you acquire this solid foundation, I guarantee that you will be able to trade any trading system that exists, any strategy, technique or chart figure in a profitable and consistent manner.
Specialists make money every day at the expense of the collective behavior caused by the use of these strategies and techniques. With which you will only manage to lose your capital and your time by putting the cart in front of the horse.
People who do the opposite, at best become,
... Philosophers of Speculation, or indocile Robot Assistants or Expert Advisors.
To make money in any market condition, range or trend, you must use the technical analysis based on the Price Language and combine it with a correct psychological reading of the price. This knowledge can only be acquired through proper education and lots of supervised practice. Like any other career in life.
I hope you've found this guide helpful!
submitted by kayakero to makemoneyforexreddit [link] [comments]

Biweekly Forex & Currency Update #25 (September 25, 2020): Forex Reserves in SBP - $12.36 Billion (-3.59%); USD/PKR - 164.63 (-0.696%)

Alright, now these updates have become bi-weekly. I like it better like this.
The percentage changes in the title are compared to the figures fourteen days ago.

Size of the Forex Reserves of Pakistan since August 28

Date Foreign Exchange Reserves in the SBP Week-on-Week Percentage Change (In SBP) Month-on-Month Percentage Change(In SBP)** Total Foreign Exchange Reserves Week-on-Week Percentage Change (Total) Month-on-Month Percentage Change (Total)**
August 28, 2020 $12.7127 Billion +0.57% +1.36% $19.8428 Billion +0.61% +1.43%
September 04, 2020 $12.8078 Billion +0.75% +2.71% $19.9613 Billion +0.60% +2.27%
September 11, 2020 $12.8204 Billion +0.10% +1.54% $19.9590 Billion -0.01% +1.54%
September 18, 2020 $12.7016 Billion -0.93% +0.48% $19.9037 Billion -0.28% +0.92%
September 25, 2020 $12.3597 Billion -2.69% -2.78% $19.5348 Billion -1.85% -1.55%
**A month refers to four weeks, as the data is released on a weekly basis.

USD/PKR Mid-Market Daily Average Exchange Rate since August 27

Date USD to PKR Exchange Rate Week-on-Week Percentage Change Month-on-Month Percentage Change**
August 27, 2020* 167.35600 -0.5105% -0.1291%
September 04, 2020 165.87335 -0.8859% -1.2060%
September 11, 2020 165.96950 +0.0459% -0.0173%
September 18, 2020 165.77935 -0.1146% -1.4478%
September 25, 2020 165.67625 -0.0622% -1.0037%
October 02, 2020 164.62595 -1.0503% -0.7520%
*Data for August 28, 2020 is not available.
**A month refers to four weeks to keep consistent with the last chart
Foreign Exchange Reserve Size Source
Forex Data archived on October 02, 2020
USD/PKR Exchange Rate Source
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submitted by AAAbbasi786 to pakistan [link] [comments]

Weekly Forex & Currency Update #23 (August 28, 2020): Forex Reserves in SBP - $12.71 Billion (+0.57%); USD/PKR - 165.87 (-0.886%)

I missed a week there, sorry about that.
The percentage changes in the title are compared to the previous week.

Size of the Forex Reserves of Pakistan since July 30

Date Foreign Exchange Reserves in the SBP Week-on-Week Percentage Change (In SBP) Month-on-Month Percentage Change(In SBP)** Total Foreign Exchange Reserves Week-on-Week Percentage Change (Total) Month-on-Month Percentage Change (Total)**
July 30*, 2020 $12.5422 Billion +4.73% +4.16% $19.5629 Billion +3.44% +4.11%
August 07, 2020 $12.4693 Billion -0.58% +3.44% $19.5183 Billion -0.23% +2.98%
August 13*, 2020 $12.6084 Billion +1.12% +4.02% $19.6555 Billion +0.70% +3.19%
August 21, 2020 $12.6408 Billion +0.26% +5.55% $19.7224 Billion +0.34% +4.28%
August 28, 2020 $12.7127 Billion +0.57% +1.36% $19.8428 Billion +0.61% +1.43%
*July 31, 2020 and August 14, 2020 were public holidays.
**A month refers to four weeks, as the data is released on a weekly basis.

USD/PKR Mid-Market Daily Average Exchange Rate since July 30

Date USD to PKR Exchange Rate Week-on-Week Percentage Change Month-on-Month Percentage Change**
July 30, 2020* 167.57230 +0.0888% +0.4328%
August 07, 2020 167.89815 +0.1945% +0.9398%
August 13, 2020* 167.99815 +0.0596% +0.4358%
August 21, 2020 168.21480 +0.1290% +0.4726%
August 27, 2020* 167.35600 -0.5105% -0.1291%
September 04, 2020 165.87335 -0.8859% -1.2060%
*July 31, 2020 and August 14, 2020 were public holidays. Data for August 28, 2020 is not available.
**A month refers to four weeks to keep consistent with the last chart
Foreign Exchange Reserve Size Source
Forex Data archived on September 06, 2020
USD/PKR Exchange Rate Source
Update #1
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submitted by AAAbbasi786 to pakistan [link] [comments]

Weekly Forex & Currency Update #24 (September 11, 2020): Forex Reserves in SBP - $12.82 Billion (+0.10%); USD/PKR - 165.78 (-0.115%)

I missed a week again. If it happens again I'll put Biweekly in the title.
The percentage changes in the title are compared to the previous week.

Size of the Forex Reserves of Pakistan since August 13

Date Foreign Exchange Reserves in the SBP Week-on-Week Percentage Change (In SBP) Month-on-Month Percentage Change(In SBP)** Total Foreign Exchange Reserves Week-on-Week Percentage Change (Total) Month-on-Month Percentage Change (Total)**
August 13*, 2020 $12.6084 Billion +1.12% +4.02% $19.6555 Billion +0.70% +3.19%
August 21, 2020 $12.6408 Billion +0.26% +5.55% $19.7224 Billion +0.34% +4.28%
August 28, 2020 $12.7127 Billion +0.57% +1.36% $19.8428 Billion +0.61% +1.43%
September 04, 2020 $12.8078 Billion +0.75% +2.71% $19.9613 Billion +0.60% +2.27%
September 11, 2020 $12.8204 Billion +0.10% +1.54% $19.9590 Billion -0.01% +1.54%
*August 14, 2020 was a public holiday.
**A month refers to four weeks, as the data is released on a weekly basis.

USD/PKR Mid-Market Daily Average Exchange Rate since August 13

Date USD to PKR Exchange Rate Week-on-Week Percentage Change Month-on-Month Percentage Change**
August 13, 2020* 167.99815 +0.0596% +0.4358%
August 21, 2020 168.21480 +0.1290% +0.4726%
August 27, 2020* 167.35600 -0.5105% -0.1291%
September 04, 2020 165.87335 -0.8859% -1.2060%
September 11, 2020 165.96950 +0.0459% -0.0173%
September 18, 2020 165.77935 -0.1146% -1.4478%
*August 14, 2020 was a public holiday. Data for August 28, 2020 is not available.
**A month refers to four weeks to keep consistent with the last chart
Foreign Exchange Reserve Size Source
Forex Data archived on September 18, 2020
USD/PKR Exchange Rate Source
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submitted by AAAbbasi786 to pakistan [link] [comments]

Weekly Forex & Currency Update #18 (July 17, 2020): Forex Reserves in SBP - $12.12 Billion (+0.55%); USD/PKR - 167.42 (+0.092%)

The percentage changes in the title are compared to last week.

Size of the Forex Reserves of Pakistan since June 19

Date Foreign Exchange Reserves in the SBP Week-on-Week Percentage Change (In SBP) Month-on-Month Percentage Change(In SBP)** Total Foreign Exchange Reserves Week-on-Week Percentage Change (Total) Month-on-Month Percentage Change (Total)**
June 19, 2020 $9.9612 Billion -1.44% -17.50% $16.7301 Billion -0.27% -10.04%
June 26, 2020 $11.2310 Billion +12.75% +8.39% $17.9710 Billion +7.42% +6.07%
July 03, 2020 $12.0416 Billion +7.22% +19.27% $18.7901 Billion +4.56% +12.48%
July 10, 2020 $12.0549 Billion +0.11% +19.27% $18.9526 Billion +0.86% +12.98%
July 17, 2020 $12.1216 Billion +0.55% +21.69% $19.0473 Billion +0.50% +13.85%
**A month refers to four weeks, as the data is released on a weekly basis.

USD/PKR Mid-Market Daily Average Exchange Rate since June 19

Date* USD to PKR Exchange Rate Week-on-Week Percentage Change Month-on-Month Percentage Change**
June 19, 2020 166.85800 +1.3985% +3.8389%
June 26, 2020 167.49310 +0.3806% +2.5611%
July 03, 2020 166.85015 -0.3839% +2.1757%
July 10, 2020 166.33500 -0.3088% +1.0806%
July 17, 2020 167.26925 +0.5617% +0.2465%
July 24, 2020 167.42360 +0.0923% -0.0415%
**A month refers to four weeks to keep consistent with the last chart
Foreign Exchange Reserve Size Source
Forex Data archived on July 24, 2020
USD/PKR Exchange Rate Source
Update #1
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Update #17
submitted by AAAbbasi786 to pakistan [link] [comments]

The Next Crypto Wave: The Rise of Stablecoins and its Entry to the U.S. Dollar Market

The Next Crypto Wave: The Rise of Stablecoins and its Entry to the U.S. Dollar Market

Author: Christian Hsieh, CEO of Tokenomy
This paper examines some explanations for the continual global market demand for the U.S. dollar, the rise of stablecoins, and the utility and opportunities that crypto dollars can offer to both the cryptocurrency and traditional markets.
The U.S. dollar, dominant in world trade since the establishment of the 1944 Bretton Woods System, is unequivocally the world’s most demanded reserve currency. Today, more than 61% of foreign bank reserves and nearly 40% of the entire world’s debt is denominated in U.S. dollars1.
However, there is a massive supply and demand imbalance in the U.S. dollar market. On the supply side, central banks throughout the world have implemented more than a decade-long accommodative monetary policy since the 2008 global financial crisis. The COVID-19 pandemic further exacerbated the need for central banks to provide necessary liquidity and keep staggering economies moving. While the Federal Reserve leads the effort of “money printing” and stimulus programs, the current money supply still cannot meet the constant high demand for the U.S. dollar2. Let us review some of the reasons for this constant dollar demand from a few economic fundamentals.

Demand for U.S. Dollars

Firstly, most of the world’s trade is denominated in U.S. dollars. Chief Economist of the IMF, Gita Gopinath, has compiled data reflecting that the U.S. dollar’s share of invoicing was 4.7 times larger than America’s share of the value of imports, and 3.1 times its share of world exports3. The U.S. dollar is the dominant “invoicing currency” in most developing countries4.

https://preview.redd.it/d4xalwdyz8p51.png?width=535&format=png&auto=webp&s=9f0556c6aa6b29016c9b135f3279e8337dfee2a6

https://preview.redd.it/wucg40kzz8p51.png?width=653&format=png&auto=webp&s=71257fec29b43e0fc0df1bf04363717e3b52478f
This U.S. dollar preference also directly impacts the world’s debt. According to the Bank of International Settlements, there is over $67 trillion in U.S. dollar denominated debt globally, and borrowing outside of the U.S. accounted for $12.5 trillion in Q1 20205. There is an immense demand for U.S. dollars every year just to service these dollar debts. The annual U.S. dollar buying demand is easily over $1 trillion assuming the borrowing cost is at 1.5% (1 year LIBOR + 1%) per year, a conservative estimate.

https://preview.redd.it/6956j6f109p51.png?width=487&format=png&auto=webp&s=ccea257a4e9524c11df25737cac961308b542b69
Secondly, since the U.S. has a much stronger economy compared to its global peers, a higher return on investments draws U.S. dollar demand from everywhere in the world, to invest in companies both in the public and private markets. The U.S. hosts the largest stock markets in the world with more than $33 trillion in public market capitalization (combined both NYSE and NASDAQ)6. For the private market, North America’s total share is well over 60% of the $6.5 trillion global assets under management across private equity, real assets, and private debt investments7. The demand for higher quality investments extends to the fixed income market as well. As countries like Japan and Switzerland currently have negative-yielding interest rates8, fixed income investors’ quest for yield in the developed economies leads them back to the U.S. debt market. As of July 2020, there are $15 trillion worth of negative-yielding debt securities globally (see chart). In comparison, the positive, low-yielding U.S. debt remains a sound fixed income strategy for conservative investors in uncertain market conditions.

Source: Bloomberg
Last, but not least, there are many developing economies experiencing failing monetary policies, where hyperinflation has become a real national disaster. A classic example is Venezuela, where the currency Bolivar became practically worthless as the inflation rate skyrocketed to 10,000,000% in 20199. The recent Beirut port explosion in Lebanon caused a sudden economic meltdown and compounded its already troubled financial market, where inflation has soared to over 112% year on year10. For citizens living in unstable regions such as these, the only reliable store of value is the U.S. dollar. According to the Chainalysis 2020 Geography of Cryptocurrency Report, Venezuela has become one of the most active cryptocurrency trading countries11. The demand for cryptocurrency surges as a flight to safety mentality drives Venezuelans to acquire U.S. dollars to preserve savings that they might otherwise lose. The growth for cryptocurrency activities in those regions is fueled by these desperate citizens using cryptocurrencies as rails to access the U.S. dollar, on top of acquiring actual Bitcoin or other underlying crypto assets.

The Rise of Crypto Dollars

Due to the highly volatile nature of cryptocurrencies, USD stablecoin, a crypto-powered blockchain token that pegs its value to the U.S. dollar, was introduced to provide stable dollar exposure in the crypto trading sphere. Tether is the first of its kind. Issued in 2014 on the bitcoin blockchain (Omni layer protocol), under the token symbol USDT, it attempts to provide crypto traders with a stable settlement currency while they trade in and out of various crypto assets. The reason behind the stablecoin creation was to address the inefficient and burdensome aspects of having to move fiat U.S. dollars between the legacy banking system and crypto exchanges. Because one USDT is theoretically backed by one U.S. dollar, traders can use USDT to trade and settle to fiat dollars. It was not until 2017 that the majority of traders seemed to realize Tether’s intended utility and started using it widely. As of April 2019, USDT trading volume started exceeding the trading volume of bitcoina12, and it now dominates the crypto trading sphere with over $50 billion average daily trading volume13.

https://preview.redd.it/3vq7v1jg09p51.png?width=700&format=png&auto=webp&s=46f11b5f5245a8c335ccc60432873e9bad2eb1e1
An interesting aspect of USDT is that although the claimed 1:1 backing with U.S. dollar collateral is in question, and the Tether company is in reality running fractional reserves through a loose offshore corporate structure, Tether’s trading volume and adoption continues to grow rapidly14. Perhaps in comparison to fiat U.S. dollars, which is not really backed by anything, Tether still has cash equivalents in reserves and crypto traders favor its liquidity and convenience over its lack of legitimacy. For those who are concerned about Tether’s solvency, they can now purchase credit default swaps for downside protection15. On the other hand, USDC, the more compliant contender, takes a distant second spot with total coin circulation of $1.8 billion, versus USDT at $14.5 billion (at the time of publication). It is still too early to tell who is the ultimate leader in the stablecoin arena, as more and more stablecoins are launching to offer various functions and supporting mechanisms. There are three main categories of stablecoin: fiat-backed, crypto-collateralized, and non-collateralized algorithm based stablecoins. Most of these are still at an experimental phase, and readers can learn more about them here. With the continuous innovation of stablecoin development, the utility stablecoins provide in the overall crypto market will become more apparent.

Institutional Developments

In addition to trade settlement, stablecoins can be applied in many other areas. Cross-border payments and remittances is an inefficient market that desperately needs innovation. In 2020, the average cost of sending money across the world is around 7%16, and it takes days to settle. The World Bank aims to reduce remittance fees to 3% by 2030. With the implementation of blockchain technology, this cost could be further reduced close to zero.
J.P. Morgan, the largest bank in the U.S., has created an Interbank Information Network (IIN) with 416 global Institutions to transform the speed of payment flows through its own JPM Coin, another type of crypto dollar17. Although people argue that JPM Coin is not considered a cryptocurrency as it cannot trade openly on a public blockchain, it is by far the largest scale experiment with all the institutional participants trading within the “permissioned” blockchain. It might be more accurate to refer to it as the use of distributed ledger technology (DLT) instead of “blockchain” in this context. Nevertheless, we should keep in mind that as J.P. Morgan currently moves $6 trillion U.S. dollars per day18, the scale of this experiment would create a considerable impact in the international payment and remittance market if it were successful. Potentially the day will come when regulated crypto exchanges become participants of IIN, and the link between public and private crypto assets can be instantly connected, unlocking greater possibilities in blockchain applications.
Many central banks are also in talks about developing their own central bank digital currency (CBDC). Although this idea was not new, the discussion was brought to the forefront due to Facebook’s aggressive Libra project announcement in June 2019 and the public attention that followed. As of July 2020, at least 36 central banks have published some sort of CBDC framework. While each nation has a slightly different motivation behind its currency digitization initiative, ranging from payment safety, transaction efficiency, easy monetary implementation, or financial inclusion, these central banks are committed to deploying a new digital payment infrastructure. When it comes to the technical architectures, research from BIS indicates that most of the current proofs-of-concept tend to be based upon distributed ledger technology (permissioned blockchain)19.

https://preview.redd.it/lgb1f2rw19p51.png?width=700&format=png&auto=webp&s=040bb0deed0499df6bf08a072fd7c4a442a826a0
These institutional experiments are laying an essential foundation for an improved global payment infrastructure, where instant and frictionless cross-border settlements can take place with minimal costs. Of course, the interoperability of private DLT tokens and public blockchain stablecoins has yet to be explored, but the innovation with both public and private blockchain efforts could eventually merge. This was highlighted recently by the Governor of the Bank of England who stated that “stablecoins and CBDC could sit alongside each other20”. One thing for certain is that crypto dollars (or other fiat-linked digital currencies) are going to play a significant role in our future economy.

Future Opportunities

There is never a dull moment in the crypto sector. The industry narratives constantly shift as innovation continues to evolve. Twelve years since its inception, Bitcoin has evolved from an abstract subject to a familiar concept. Its role as a secured, scarce, decentralized digital store of value has continued to gain acceptance, and it is well on its way to becoming an investable asset class as a portfolio hedge against asset price inflation and fiat currency depreciation. Stablecoins have proven to be useful as proxy dollars in the crypto world, similar to how dollars are essential in the traditional world. It is only a matter of time before stablecoins or private digital tokens dominate the cross-border payments and global remittances industry.
There are no shortages of hypes and experiments that draw new participants into the crypto space, such as smart contracts, new blockchains, ICOs, tokenization of things, or the most recent trends on DeFi tokens. These projects highlight the possibilities for a much more robust digital future, but the market also needs time to test and adopt. A reliable digital payment infrastructure must be built first in order to allow these experiments to flourish.
In this paper we examined the historical background and economic reasons for the U.S. dollar’s dominance in the world, and the probable conclusion is that the demand for U.S. dollars will likely continue, especially in the middle of a global pandemic, accompanied by a worldwide economic slowdown. The current monetary system is far from perfect, but there are no better alternatives for replacement at least in the near term. Incremental improvements are being made in both the public and private sectors, and stablecoins have a definite role to play in both the traditional and the new crypto world.
Thank you.

Reference:
[1] How the US dollar became the world’s reserve currency, Investopedia
[2] The dollar is in high demand, prone to dangerous appreciation, The Economist
[3] Dollar dominance in trade and finance, Gita Gopinath
[4] Global trades dependence on dollars, The Economist & IMF working papers
[5] Total credit to non-bank borrowers by currency of denomination, BIS
[6] Biggest stock exchanges in the world, Business Insider
[7] McKinsey Global Private Market Review 2020, McKinsey & Company
[8] Central banks current interest rates, Global Rates
[9] Venezuela hyperinflation hits 10 million percent, CNBC
[10] Lebanon inflation crisis, Reuters
[11] Venezuela cryptocurrency market, Chainalysis
[12] The most used cryptocurrency isn’t Bitcoin, Bloomberg
[13] Trading volume of all crypto assets, coinmarketcap.com
[14] Tether US dollar peg is no longer credible, Forbes
[15] New crypto derivatives let you bet on (or against) Tether’s solvency, Coindesk
[16] Remittance Price Worldwide, The World Bank
[17] Interbank Information Network, J.P. Morgan
[18] Jamie Dimon interview, CBS News
[19] Rise of the central bank digital currency, BIS
[20] Speech by Andrew Bailey, 3 September 2020, Bank of England
submitted by Tokenomy to tokenomyofficial [link] [comments]

Weekly Forex & Currency Update #22 (August 13, 2020): Forex Reserves in SBP - $12.61 Billion (+1.12%); USD/PKR - 168.21 (+0.129%)

The percentage changes in the title are compared to the previous week.

Size of the Forex Reserves of Pakistan since July 17

Date Foreign Exchange Reserves in the SBP Week-on-Week Percentage Change (In SBP) Month-on-Month Percentage Change(In SBP)** Total Foreign Exchange Reserves Week-on-Week Percentage Change (Total) Month-on-Month Percentage Change (Total)**
July 17, 2020 $12.1216 Billion +0.55% +21.69% $19.0473 Billion +0.50% +13.85%
July 24, 2020 $11.9756 Billion -1.20% +6.63% $18.9122 Billion -0.71% +5.24%
July 30*, 2020 $12.5422 Billion +4.73% +4.16% $19.5629 Billion +3.44% +4.11%
August 07, 2020 $12.4693 Billion -0.58% +3.44% $19.5183 Billion -0.23% +2.98%
August 13*, 2020 $12.6084 Billion +1.12% +4.02% $19.6555 Billion +0.70% +3.19%
*July 31, 2020 and August 14, 2020 were public holidays.
**A month refers to four weeks, as the data is released on a weekly basis.

USD/PKR Mid-Market Daily Average Exchange Rate since July 17

Date USD to PKR Exchange Rate Week-on-Week Percentage Change Month-on-Month Percentage Change**
July 17, 2020 167.26925 +0.5617% +0.2465%
July 24, 2020 167.42360 +0.0923% -0.0415%
July 30, 2020* 167.57230 +0.0888% +0.4328%
August 07, 2020 167.89815 +0.1945% +0.9398%
August 13, 2020* 167.99815 +0.0596% +0.4358%
August 21, 2020 168.21480 +0.1290% +0.4726%
*July 31, 2020 and August 14, 2020 were public holidays.
**A month refers to four weeks to keep consistent with the last chart
Foreign Exchange Reserve Size Source
Forex Data archived on August 22, 2020
USD/PKR Exchange Rate Source
Update #1
Update #2
Update #3
Update #4
Update #5
Update #6
Update #7
Update #8
Update #9
Update #10
Update #11
Update #12
Update #13
Update #14
Update #15
Update #16
Update #17
Update #18
Update #19
Update #20
Update #21
submitted by AAAbbasi786 to pakistan [link] [comments]

Seems sketchy, hits me as a type of MLM

I assumed this was a scam or pyramid scheme of some sort. I received it on Instagram while also getting added by someone with the same mo on linkedin, offering thousand dollar sessions with him for learning. I know nothing about this kind of thing. Maybe someone could enlighten? Thanks
B) Heya
A) Hello? Please don't try get me into a pyramid scheme or something.
B) Have you ever heard of forex trading?
A) Never, not once
B) Really, well Retail foreign exchange trading is a small segment of the larger foreign exchange market where individuals speculate on the exchange rate between different currencies. With a daily trading volume of 5 billion.
B) It's a very profitable process x
A) Ah okay, so it's foreign exchange trading? Using what, speculative algorithms or just guessing?
B) Would you be interested in joining my forex team and start gaining some extra cash today?
A) What I want if to have it explained.
B) We trade on various different currencies , and we invest in whether the price of the currency will go up or down (This is also known as BUY/SELL or LONG/SHORT). We have 3 analysts 4, who use financial charts and financial news to determine what the markets are likely to do. Collectively, we have been trading for six years! Once we analyse the markets we will then send these trades to you so that you can place them, the trades are usually sent via telegram
B) We do all the hard work so you don't have to, we just tell you what trades to place and you'll then click a few buttons on your phone/laptop to place the trades and that's it.Simple!
B) We will set you up with a regulated broker, which we will provide you with a link with to sign up. You will use "MetaTrader 4" as the trading platform to place the trades. We then add you to our Telegram group and will send these trades daily'''. .
B) So for instance say you start with €100+ today you would earn approximately €1870+ at the moment based on how the market is looking
B) How do you feel about this x ?
A) I assume there's a starting fee of some sort?
B) Yeah you have to invest in order to make profit
A) Okay, in your own system?
B) Yeah x
A) Okay, I'll make this easy, just read my first text again. Thank you.
submitted by finnin1999 to antiMLM [link] [comments]

Weekly Forex & Currency Update #21 (August 07, 2020): Forex Reserves in SBP - $12.47 Billion (-0.58%); USD/PKR - 168.00 (+0.0596%)

The percentage changes in the title are compared to last week.

Size of the Forex Reserves of Pakistan since July 10

Date Foreign Exchange Reserves in the SBP Week-on-Week Percentage Change (In SBP) Month-on-Month Percentage Change(In SBP)** Total Foreign Exchange Reserves Week-on-Week Percentage Change (Total) Month-on-Month Percentage Change (Total)**
July 10, 2020 $12.0549 Billion +0.11% +19.27% $18.9526 Billion +0.86% +12.98%
July 17, 2020 $12.1216 Billion +0.55% +21.69% $19.0473 Billion +0.50% +13.85%
July 24, 2020 $11.9756 Billion -1.20% +6.63% $18.9122 Billion -0.71% +5.24%
July 30*, 2020 $12.5422 Billion +4.73% +4.16% $19.5629 Billion +3.44% +4.11%
August 07, 2020 $12.4693 Billion -0.58% +3.44% $19.5183 Billion -0.23% +2.98%
*July 31, 2020 was Eid ul-Adha, a public holiday.
**A month refers to four weeks, as the data is released on a weekly basis.

USD/PKR Mid-Market Daily Average Exchange Rate since July 10

Date USD to PKR Exchange Rate Week-on-Week Percentage Change Month-on-Month Percentage Change**
July 10, 2020 166.33500 -0.3088% +1.0806%
July 17, 2020 167.26925 +0.5617% +0.2465%
July 24, 2020 167.42360 +0.0923% -0.0415%
July 30, 2020* 167.57230 +0.0888% +0.4328%
August 07, 2020 167.89815 +0.1945% +0.9398%
August 13, 2020* 167.99815 +0.0596% +0.4358%
*July 31, 2020 and August 14, 2020 were public holidays.
**A month refers to four weeks to keep consistent with the last chart
Foreign Exchange Reserve Size Source
Forex Data archived on August 16, 2020
USD/PKR Exchange Rate Source
Update #1
Update #2
Update #3
Update #4
Update #5
Update #6
Update #7
Update #8
Update #9
Update #10
Update #11
Update #12
Update #13
Update #14
Update #15
Update #16
Update #17
Update #18
Update #19
Update #20
submitted by AAAbbasi786 to pakistan [link] [comments]

Weekly Forex & Currency Update #19 (July 24, 2020): Forex Reserves in SBP - $11.98 Billion (-1.20%); USD/PKR - 167.57 (-0.089%)

The percentage changes in the title are compared to last week.

Size of the Forex Reserves of Pakistan since June 26

Date Foreign Exchange Reserves in the SBP Week-on-Week Percentage Change (In SBP) Month-on-Month Percentage Change(In SBP)** Total Foreign Exchange Reserves Week-on-Week Percentage Change (Total) Month-on-Month Percentage Change (Total)**
June 26, 2020 $11.2310 Billion +12.75% +8.39% $17.9710 Billion +7.42% +6.07%
July 03, 2020 $12.0416 Billion +7.22% +19.27% $18.7901 Billion +4.56% +12.48%
July 10, 2020 $12.0549 Billion +0.11% +19.27% $18.9526 Billion +0.86% +12.98%
July 17, 2020 $12.1216 Billion +0.55% +21.69% $19.0473 Billion +0.50% +13.85%
July 24, 2020 $11.9756 Billion -1.20% +6.63% $18.9122 Billion -0.71% +5.24%
**A month refers to four weeks, as the data is released on a weekly basis.

USD/PKR Mid-Market Daily Average Exchange Rate since June 26

Date USD to PKR Exchange Rate Week-on-Week Percentage Change Month-on-Month Percentage Change**
June 26, 2020 167.49310 +0.3806% +2.5611%
July 03, 2020 166.85015 -0.3839% +2.1757%
July 10, 2020 166.33500 -0.3088% +1.0806%
July 17, 2020 167.26925 +0.5617% +0.2465%
July 24, 2020 167.42360 +0.0923% -0.0415%
July 30, 2020* 167.57230 +0.0888% +0.4328%
*July 31, 2020 was Eid ul-Adha, a public holiday.
**A month refers to four weeks to keep consistent with the last chart
Foreign Exchange Reserve Size Source
Forex Data archived on July 30, 2020
USD/PKR Exchange Rate Source
Update #1
Update #2
Update #3
Update #4
Update #5
Update #6
Update #7
Update #8
Update #9
Update #10
Update #11
Update #12
Update #13
Update #14
Update #15
Update #16
Update #17
Update #18
submitted by AAAbbasi786 to pakistan [link] [comments]

Weekly Forex & Currency Update #20 (July 30, 2020): Forex Reserves in SBP - $12.54 Billion (+4.73%); USD/PKR - 167.90 (+0.194%)

The percentage changes in the title are compared to last week.

Size of the Forex Reserves of Pakistan since July 03

Date Foreign Exchange Reserves in the SBP Week-on-Week Percentage Change (In SBP) Month-on-Month Percentage Change(In SBP)** Total Foreign Exchange Reserves Week-on-Week Percentage Change (Total) Month-on-Month Percentage Change (Total)**
July 03, 2020 $12.0416 Billion +7.22% +19.27% $18.7901 Billion +4.56% +12.48%
July 10, 2020 $12.0549 Billion +0.11% +19.27% $18.9526 Billion +0.86% +12.98%
July 17, 2020 $12.1216 Billion +0.55% +21.69% $19.0473 Billion +0.50% +13.85%
July 24, 2020 $11.9756 Billion -1.20% +6.63% $18.9122 Billion -0.71% +5.24%
July 30*, 2020 $12.5422 Billion +4.73% +4.16% $19.5629 Billion +3.44% +4.11%
*July 31, 2020 was Eid ul-Adha, a public holiday.
**A month refers to four weeks, as the data is released on a weekly basis.

USD/PKR Mid-Market Daily Average Exchange Rate since July 03

Date USD to PKR Exchange Rate Week-on-Week Percentage Change Month-on-Month Percentage Change**
July 03, 2020 166.85015 -0.3839% +2.1757%
July 10, 2020 166.33500 -0.3088% +1.0806%
July 17, 2020 167.26925 +0.5617% +0.2465%
July 24, 2020 167.42360 +0.0923% -0.0415%
July 30, 2020* 167.57230 +0.0888% +0.4328%
August 07, 2020 167.89815 +0.1945% +0.9398%
*July 31, 2020 was Eid ul-Adha, a public holiday.
**A month refers to four weeks to keep consistent with the last chart
Foreign Exchange Reserve Size Source
Forex Data archived on August 07, 2020
USD/PKR Exchange Rate Source
Update #1
Update #2
Update #3
Update #4
Update #5
Update #6
Update #7
Update #8
Update #9
Update #10
Update #11
Update #12
Update #13
Update #14
Update #15
Update #16
Update #17
Update #18
Update #19
submitted by AAAbbasi786 to pakistan [link] [comments]

Weekly Forex & Currency Update #14 (May 08, 2020): Forex Reserves in SBP - $12.27 Billion (-0.48%); USD/PKR - 159.94 (+0.021%)

The percentage changes in the title are compared to last week.

Size of the Forex Reserves of Pakistan since April 10

Date Foreign Exchange Reserves in the SBP Week-on-Week Percentage Change (In SBP) Month-on-Month Percentage Change(In SBP)** Total Foreign Exchange Reserves Week-on-Week Percentage Change (Total) Month-on-Month Percentage Change (Total)**
April 10, 2020 $10.9746 Billion +2.35% -13.45% $17.2955 Billion +1.81% -7.72%
April 17, 2020 $10.8892 Billion -0.78% -9.17% $17.3003 Billion +0.03% -4.45%
April 24, 2020 $12.0703 Billion +10.85% +7.91% $18.4630 Billion +6.72% +6.19%
April 30, 2020* $12.3294 Billion +2.15% +14.99% $18.7551 Billion +1.58% +10.40%
May 08, 2020 $12.2707 Billion -0.48% +11.81% $18.7445 Billion -0.06% +8.38%
* May 1 was a public holiday.
**A month refers to four weeks, as the data is released on a weekly basis.

USD/PKR Mid-Market Daily Average Exchange Rate since April 10

Date* USD to PKR Exchange Rate Week-on-Week Percentage Change Month-on-Month Percentage Change**
April 10, 2020 166.81945 -0.0067% +4.8392%
April 17, 2020 166.67915 -0.0841% +2.9480%
April 24, 2020 160.87180 -3.4841% -3.3206%
April 30, 2020* 160.58945 -0.1755% -3.7282%
May 08, 2020 159.90335 -0.4272% -4.1459%
May 15, 2020 159.93695 +0.0210% -0.5811%
* May 1 was a public holiday.
**A month refers to four weeks to keep consistent with the last chart
Foreign Exchange Reserve Size Source
Forex Data archived on May 15, 2020
USD/PKR Exchange Rate Source
Update #1
Update #2
Update #3
Update #4
Update #5
Update #6
Update #7
Update #8
Update #9
Update #10
Update #11
Update #12
Update #13
submitted by AAAbbasi786 to pakistan [link] [comments]

Weekly Forex & Currency Update #17 (July 10, 2020): Forex Reserves in SBP - $12.05 Billion (+0.11%); USD/PKR - 167.27 (+0.562%)

The percentage changes in the title are compared to last week.

Size of the Forex Reserves of Pakistan since June 12

Date Foreign Exchange Reserves in the SBP Week-on-Week Percentage Change (In SBP) Month-on-Month Percentage Change(In SBP)** Total Foreign Exchange Reserves Week-on-Week Percentage Change (Total) Month-on-Month Percentage Change (Total)**
June 12, 2020 $10.1071 Billion +0.11% -16.67% $16.7753 Billion +0.42% -9.90%
June 19, 2020 $9.9612 Billion -1.44% -17.50% $16.7301 Billion -0.27% -10.04%
June 26, 2020 $11.2310 Billion +12.75% +8.39% $17.9710 Billion +7.42% +6.07%
July 03, 2020 $12.0416 Billion +7.22% +19.27% $18.7901 Billion +4.56% +12.48%
July 10, 2020 $12.0549 Billion +0.11% +19.27% $18.9526 Billion +0.86% +12.98%
**A month refers to four weeks, as the data is released on a weekly basis.

USD/PKR Mid-Market Daily Average Exchange Rate since June 12

Date* USD to PKR Exchange Rate Week-on-Week Percentage Change Month-on-Month Percentage Change**
June 12, 2020 164.55675 +0.7735% +2.8885%
June 19, 2020 166.85800 +1.3985% +3.8389%
June 26, 2020 167.49310 +0.3806% +2.5611%
July 03, 2020 166.85015 -0.3839% +2.1757%
July 10, 2020 166.33500 -0.3088% +1.0806%
July 17, 2020 167.26925 +0.5617% +0.2465%
**A month refers to four weeks to keep consistent with the last chart
Foreign Exchange Reserve Size Source
Forex Data archived on July 17, 2020
USD/PKR Exchange Rate Source
Update #1
Update #2
Update #3
Update #4
Update #5
Update #6
Update #7
Update #8
Update #9
Update #10
Update #11
Update #12
Update #13
Update #14
Update #15
Update #16
submitted by AAAbbasi786 to pakistan [link] [comments]

Weekly Forex & Currency Update #16 (July 03, 2020): Forex Reserves in SBP - $12.04 Billion (+7.22%); USD/PKR - 166.34 (-0.309%)

The percentage changes in the title are compared to last week.

Size of the Forex Reserves of Pakistan since June 05

Date Foreign Exchange Reserves in the SBP Week-on-Week Percentage Change (In SBP) Month-on-Month Percentage Change(In SBP)** Total Foreign Exchange Reserves Week-on-Week Percentage Change (Total) Month-on-Month Percentage Change (Total)**
June 05, 2020 $10.0958 Billion -2.57% -17.72% $16.7053 Billion -1.40% -10.88%
June 12, 2020 $10.1071 Billion +0.11% -16.67% $16.7753 Billion +0.42% -9.90%
June 19, 2020 $9.9612 Billion -1.44% -17.50% $16.7301 Billion -0.27% -10.04%
June 26, 2020 $11.2310 Billion +12.75% +8.39% $17.9710 Billion +7.42% +6.07%
July 03, 2020 $12.0416 Billion +7.22% +19.27% $18.7901 Billion +4.56% +12.48%
**A month refers to four weeks, as the data is released on a weekly basis.

USD/PKR Mid-Market Daily Average Exchange Rate since June 05

Date* USD to PKR Exchange Rate Week-on-Week Percentage Change Month-on-Month Percentage Change**
June 05, 2020 163.29735 -0.0081% +2.1225%
June 12, 2020 164.55675 +0.7735% +2.8885%
June 19, 2020 166.85800 +1.3985% +3.8389%
June 26, 2020 167.49310 +0.3806% +2.5611%
July 03, 2020 166.85015 -0.3839% +2.1757%
July 10, 2020 166.33500 -0.3088% +1.0806%
**A month refers to four weeks to keep consistent with the last chart
Foreign Exchange Reserve Size Source
Forex Data archived on July 10, 2020
USD/PKR Exchange Rate Source
Update #1
Update #2
Update #3
Update #4
Update #5
Update #6
Update #7
Update #8
Update #9
Update #10
Update #11
Update #12
Update #13
Update #14
Update #15
submitted by AAAbbasi786 to pakistan [link] [comments]

Seems very sketchy but I'm no expert.

I assumed this was a scam or pyramid scheme of some sort. I received it on Instagram while also getting added by someone with the same mo on linkedin, offering thousand dollar sessions with him for learning. I know nothing about this kind of thing. Maybe someone could enlighten? Thanks
B) Heya
A) Hello? Please don't try get me into a pyramid scheme or something.
B) Have you ever heard of forex trading?
A) Never, not once
B) Really, well Retail foreign exchange trading is a small segment of the larger foreign exchange market where individuals speculate on the exchange rate between different currencies. With a daily trading volume of 5 billion.
B) It's a very profitable process x
A) Ah okay, so it's foreign exchange trading? Using what, speculative algorithms or just guessing?
B) Would you be interested in joining my forex team and start gaining some extra cash today?
A) What I want if to have it explained.
B) We trade on various different currencies , and we invest in whether the price of the currency will go up or down (This is also known as BUY/SELL or LONG/SHORT). We have 3 analysts 4, who use financial charts and financial news to determine what the markets are likely to do. Collectively, we have been trading for six years! Once we analyse the markets we will then send these trades to you so that you can place them, the trades are usually sent via telegram
B) We do all the hard work so you don't have to, we just tell you what trades to place and you'll then click a few buttons on your phone/laptop to place the trades and that's it.Simple!
B) We will set you up with a regulated broker, which we will provide you with a link with to sign up. You will use "MetaTrader 4" as the trading platform to place the trades. We then add you to our Telegram group and will send these trades daily'''. .
B) So for instance say you start with €100+ today you would earn approximately €1870+ at the moment based on how the market is looking
B) How do you feel about this x ?
A) I assume there's a starting fee of some sort?
B) Yeah you have to invest in order to make profit
A) Okay, in your own system?
B) Yeah x
A) Okay, I'll make this easy, just read my first text again. Thank you.
submitted by finnin1999 to Scams [link] [comments]

Weekly Forex & Currency Update #13 (April 30, 2020): Forex Reserves in SBP - $12.33 Billion (+2.15%); USD/PKR - 159.90 (-0.43%)

The percentage changes in the title are compared to last week.
Today I changed my source for exchange rates from the XE's one-time rate to the SBP's daily averages.

Size of the Forex Reserves of Pakistan since April 03

Date Foreign Exchange Reserves in the SBP Week-on-Week Percentage Change (In SBP) Month-on-Month Percentage Change(In SBP)** Total Foreign Exchange Reserves Week-on-Week Percentage Change (Total) Month-on-Month Percentage Change (Total)**
April 03, 2020 $10.7225 Billion -4.14% -16.16% $16.9882 Billion -2.30% -10.14%
April 10, 2020 $10.9746 Billion +2.35% -13.45% $17.2955 Billion +1.81% -7.72%
April 17, 2020 $10.8892 Billion -0.78% -9.17% $17.3003 Billion +0.03% -4.45%
April 24, 2020 $12.0703 Billion +10.85% +7.91% $18.4630 Billion +6.72% +6.19%
April 30, 2020* $12.3294 Billion +2.15% +14.99% $18.7551 Billion +1.58% +10.40%
* May 1 was a public holiday.
**A month refers to four weeks, as the data is released on a weekly basis.

USD/PKR Mid-Market Daily Average Exchange Rate since April 03

Date* USD to PKR Exchange Rate Week-on-Week Percentage Change Month-on-Month Percentage Change**
April 03, 2020 166.80835 +0.9780% +8.3626%
April 10, 2020 166.81945 -0.0067% +4.8392%
April 17, 2020 166.67915 -0.0841% +2.9480%
April 24, 2020 160.87180 -3.4841% -3.3206%
April 30, 2020* 160.58945 -0.1755% -3.7282%
May 08, 2020 159.90335 -0.4272% -4.1459%
* May 1 was a public holiday.
**A month refers to four weeks to keep consistent with the last chart
Foreign Exchange Reserve Size Source
Forex Data archived on May 11, 2020
USD/PKR Exchange Rate Source
Update #1
Update #2
Update #3
Update #4
Update #5
Update #6
Update #7
Update #8
Update #9
Update #10
Update #11
Update #12
submitted by AAAbbasi786 to pakistan [link] [comments]

Weekly Forex & Currency Update #15 (May 21, 2020): Forex Reserves in SBP - $12.07 Billion (-0.46%); USD/PKR - 163.31 (+1.63%)

Sorry for the one week delay. I took a little break. Thank you for your patience.
The percentage changes in the title are compared to last week.

Size of the Forex Reserves of Pakistan since April 24

Date Foreign Exchange Reserves in the SBP Week-on-Week Percentage Change (In SBP) Month-on-Month Percentage Change(In SBP)** Total Foreign Exchange Reserves Week-on-Week Percentage Change (Total) Month-on-Month Percentage Change (Total)**
April 24, 2020 $12.0703 Billion +10.85% +7.91% $18.4630 Billion +6.72% +6.19%
April 30, 2020* $12.3294 Billion +2.15% +14.99% $18.7551 Billion +1.58% +10.40%
May 08, 2020 $12.2707 Billion -0.48% +11.81% $18.7445 Billion -0.06% +8.38%
May 15, 2020 $12.1293 Billion -1.15% +11.39% $18.6183 Billion -0.67% +7.62%
May 21, 2020* $12.0739 Billion -0.46% +0.03% $18.5979 Billion -0.11% +0.73%
* May 1 and May 22 were public holidays.
**A month refers to four weeks, as the data is released on a weekly basis.

USD/PKR Mid-Market Daily Average Exchange Rate since April 24

Date* USD to PKR Exchange Rate Week-on-Week Percentage Change Month-on-Month Percentage Change**
April 24, 2020 160.87180 -3.4841% -3.3206%
April 30, 2020* 160.58945 -0.1755% -3.7282%
May 08, 2020 159.90335 -0.4272% -4.1459%
May 15, 2020 159.93695 +0.0210% -0.5811%
May 21, 2020* 160.68930 +0.4704% -0.1134%
May 29, 2020 163.31050 +1.6312% +1.6944%
* May 1 and May 22 were public holidays.
**A month refers to four weeks to keep consistent with the last chart
Foreign Exchange Reserve Size Source
Forex Data archived on May 30, 2020
USD/PKR Exchange Rate Source
Update #1
Update #2
Update #3
Update #4
Update #5
Update #6
Update #7
Update #8
Update #9
Update #10
Update #11
Update #12
Update #13
Update #14
submitted by AAAbbasi786 to pakistan [link] [comments]

The truth about Bitfinex and Tether...

EDIT: I realize this is long, but I feel it's important to have this info out there. Maybe save it for later when you see this narrative being pushed around so you can come back and get the other side.
EDIT 2: TL:DR - Most negative analysis on this sub lately of Tether are likely from a single biased source that stretches a lot to make his points, and there is simply not enough Tether in the market nor is it concentrated enough to create a catastrophic problem or significant inflation for any USDT currency pair.
Like many of you, I have heard the stories and posts about the fraudulent tether, I trade in this space on many exchanges and the growing concern is worrying, so I did my due diligence, and I would like to share it with the community.
First and most importantly IMO, all this controversy stems from just one account/person. A person on twitter going by the handle @Bitfinexed - https://twitter.com/Bitfinexed
Here you can see this person's writings - https://medium.com/@bitfinexed/latest
Spoofy, Tethers and institutional investors are what they contend to be the lies and fraud, AND that this entire rally in 2017 is based on fraudulent Tethers and spoofing, and that this will implode the markets.
I feel this is also important… Turns out this person sold at $1000, maybe the real reason he is on this mission??… https://twitter.com/whalepool/status/896460700461277185
Now for some troubling info, the majority of this narrative (FUD??) here on Reddit in the last month come from just three accounts.
https://www.reddit.com/useAtlasRand1/submitted/
https://www.reddit.com/usecetusfund/submitted/
https://www.reddit.com/useAnythingForSuccess
As you can see these accounts entire mission is to post constantly about this. They all show up on the other’s post to comment regularly.
Btw, some people on the pro-finex side think this is a smear campaign from other exchanges. I don’t believe this to be the case. This person(s) only talk about TetheFinex, yet Tether is used and traded by the $millions daily on 3 of the top 5 exchanges, Finex, Bittrex, Polo, yet never a word about those other exchanges. (Check the USDT volume on other exchanges) https://coinmarketcap.com/assets/tethe#markets
Therefore, if it is an exchange, it isn’t Trex/Polo because this would affect them as well. If it was an exchange other than Trex/Polo they would have plenty of fire power against 3 of the top 5 exchanges with Tether fraud.
This leads me to believe it is most likely a sad person(s) with an ax to grind. They might have lost their $ on Finex to what they believe are spoofers/fraud and or they were part of the finex hack and sold there BFX too early.
Btw I see contention that Bitfinex did NOT pay back the $ from the hack. They did, but some people are mad because they sold BFX early and didn’t recoup full $ amount from haircuts, but that was their decision.
~ POINTS OF CONTENTION
SPOOFING This is what set my alarm bells off about these articles I read from Bitfinexed. Specifically spoofing… https://hackernoon.com/meet-spoofy-how-a-single-entity-dominates-the-price-of-bitcoin-39c711d28eb4
and this nugget…“And who the hell is going to go margin long so dramatically after a huge crash?” from this article… https://medium.com/@bitfinexed/are-fraudulent-tethers-being-used-for-margin-lending-on-bitfinex-5de9dd80f330
Claiming spoofing shows this person has limited markets/trading knowledge. Clearly they haven’t watched an order book of any exchange in crypto, equities, or Forex.
This is called scalping or scare walls. Again this is done in every market around the globe.
Here is a professional FOREX trader talking about scalping, how it works, who/why they do it. https://www.youtube.com/watch?v=EYMIPmgRb_M&list=WL&index=94
TL;DW - they do this to get the price where they want it because they know people are watching the order book (the video is quite enlightening), and the key point that keeps this from being an illegal activity (on regulated exchanges) is THAT THEY DO MAKE TRADES FOR THOSE SIZES eventually. This doesn’t always work and they get stuck in these positions. Risk/reward.
The ironic part about this spoofing idea is Finex is one of the few, if not only exchanges, that offer hidden orders. So people trying to scalp always have to worry if there is a monster hidden order lurking.
Go to the UPDATE: AUGUST 7TH of this story and watch the video he claims proves spoofing and Phil Potter admitting it in the voice over. https://hackernoon.com/meet-spoofy-how-a-single-entity-dominates-the-price-of-bitcoin-39c711d28eb4
I see nothing wrong with what Phil says and no proof of anything in the video. Again this is true on every exchange trading anything of volume in the world. People with large amounts of money move markets, oh the horror. I “technically” do this when I place an order and pull it for whatever reason (scared, mistake, etc.) just not in large sums, but I would if I had large sums.
“And who the hell is going to go margin long so dramatically after a huge crash?” The crash they are referring to is from the early June ATH to the mid-July correction. A 45-day crash? Well, I am one of those people that went margin long. And many many others who read charts, resistance, support, retracement info. Again, this smacks of someone who doesn’t know what they are talking about.
REASON FOR PRICE RISE/BTC GOES UP WHEN TETHERS ARE CREATED
This is absurd. This completely negates everything else, the Japanese currency ruling and them entering the market, Koreans coming into the market in a huge way (they now have the largest exchange by far with close to a Billion traded DAILY, oh and they don’t use Tether at all), the successful hard fork, or the more (positive!) interest from the media and people than ever before in BTC history.
Instead, we are supposed to think that $395 million dollars of tethers are the reason for this rise in a $160+ Billion market cap. 
C’mon people! Look at that volume for the last 30 days. https://imgur.com/a/vKJ5g Also, the overwhelming majority of trade does not exist in Tether but KRW, CNY, USD, JPY.
Tethers are usually created when extra liquidity is needed, be it a crash or a spike. Because more people are trading.
They try to prove Tether boosts the market with this picture in their article. https://imgur.com/a/274SE
The problem is 2 of the last 3 tether dumps coincide with a downturn. In fact, there is nothing in this graph that proves this theory. Also, the last tether dump/price rise coincides perfectly with the news of the majority of miners signaling segwit2x for the first time (search bitcoin or btc around that date).
So do you think the market traded billions of $ at that time because of a $50 million Tether dump or because for the first time in YEARS a solution and path forward became visible??
THEY DON’T HAVE BANKING//NO INSTITUTIONAL INVESTORS/FAKE TETHERS-TERMS OF SERVICE
In regards to banking, clearly they have some kind of banking and a way for large amounts of fiat to get in and out. The banking is not for you and me but for regional bitcoin exchanges and other large customers.
You know how I know this? If they didn’t the internet would be flooded with Finex withdrawal issues, there would be a price premium on Bitfinex compared to other exchanges, just like Mt. Gox had for so long and also Bitfinex earlier in the year when the banking issues started.
This article explains it very clearly (seriously read this article), it has nothing to do with this controversy, just the banking issue in April.
https://medium.com/@Austerity_Sucks/why-bitfinex-went-from-a-premium-in-its-crypto-usd-pairs-to-now-a-significant-discount-e7be193d7cb0
TL;DR - All of the imbalances discussed (Finex premium) have been a result of USD frictions into Bitfinex. It has been a chain reaction resulting from the initial freeze to the various gradual withdrawal options. As soon as Bitfinex conclusively addresses the USD flow issues, the crypto pair prices will normalize (which they did) with other exchanges that don’t have banking frictions and USDT price will return to par (which it did).
The premiums on Finex and Tether are what would prove something is wrong, yet they are not here. Surprisingly Finex has been at a discount to GDAX and GEMINI recently. Meaning people are willing to take a loss on prices to be able to lend on Finex. This too will normalize as people/bots arb.
Aug 9th… From “arguably” bank fraud https://twitter.com/Bitfinexed/status/895339675120013313
Aug 22nd…. To “admitting” bank fraud https://twitter.com/Bitfinexed/status/900230917196836864
Listen to that audio in the second link, listen carefully. His explanation is perfectly reasonable. Banks don’t work well, consistently, or at all with crypto related companies (marijuana companies too for that matter) especially in jurisdictions that are outside US/Europe. Surprise surprise, this is nothing new. When they find out customers, deposits/wire are cryptos related they pull the plug (a reason why Trex/Polo don’t mess with USD).
Also, they gave their customers a haircut, probably a lot of complaints about the hack to Wells Fargo and other banks. These are the correspondent's banks, not Finex’s, they have banking. This is how they can receive large institutional deposits and withdrawals. Which I bet make up the majority of the fiat deposits and withdrawals.
Classic 80/20 business rule, 20% of your clients are providing 80% of the liquidity plus you are having banking issues (which is expected in crypto-land), so you cut this service to the 80% saving time/resources/headaches for the 20% loss in a single service to them (no fiat withdrawal/deposits- but crypto flows in and out with ease).
Again if they weren’t able to get money in and out there would be a premium, there would be a long line of complaints online. I have no reason (or proof) to believe that money is NOT coming into/out of the exchange.
It makes total sense too, they are the best lending platform, have one of the most liquid exchanges, and have by far the most reliable and best software/servers/UI/order options. You cannot deny this fact, they are constantly a top 3 exchange in volume, even after a hack.
I use Finex (as well as others) because of all those things. Also, they have already been hacked, a second hack seems less likely (IMO, they have more to lose with another hack). They have many big events on the horizon (Ethfinex). Would a company be putting resources into these things if this is all fraud or an exit scam? I find that unlikely. Is this 100% full proof? Of course not, nothing is, especially in crypto, just my reasons for trading there.
Institutional Investors - https://medium.com/@bitfinexed/are-legitimate-institutional-investors-really-coming-onto-bitfinex-s-platform-i-don-t-think-so-cb4ed5175092 Here is what this person doesn’t comprehend, what if these institutional investors are… you ready… here it comes… other exchanges that use Tether, as well as other crypto related businesses. It is only $395 million Tethers. These exchanges (Trex, Finex, Polo) are printing money.
This isn’t “someone” with 100’s of millions of dollars as the article suggests, it’s many people with millions/thousands of dollars. Again this all ignores the fact that many more people have entered the ecosystem this year. This is proven by Coinbase growth, transaction growth, and exchange growth (both in volume and # of exchanges), and growth in crypto-related sub-Reddits.
Yet Bitfinexed is shocked that lending hits ATH’s, but it is perfectly explainable and reasonable based on the evidence and data of gthe ecosystem. Let us not forget BTC is a finite amount, more people are going to increase demand/price, if you think this is a bubble... you haven’t seen anything yet.
The TOS are sketchy and a point of concern but there are two things to keep in mind- It was necessary to word it that way, and the market clearly doesn’t care.
If they had worded it that they will redeem no matter what, they would have money launderers flocking to the service (bogging down resources), plus law enforcement knocking.
Tethers weren’t created to get $ in/out of crypto but to provide a safe haven and liquidity on exchanges that don’t use USD. And I would say they are working perfectly. Very few are withdrawing USDT for USD.
I think it is precisely because of what the co-founder of tether refers to here (and below)… “If you want to convert USD₮ into fiat currency (or vice-versa) at tether.to, you must go through the whole “aggressive” KYC/AML process and get verified. I’ve heard from many who tried and were unable to provide sufficient documentation. Tether’s KYC/AML policies were written by experienced compliance officers and it’s critical that it be done properly and with diligence. It really is about “knowing your customer” and making sure that their uses are legitimate.” This is a perfectly reasonable explanation why people are not lining up to cash out of Tether, and also why large/reputable institutions can (exchanges, investors, etc.).
TETHERS REPLY TO ALL THIS, PLUS UPCOMING AUDIT https://tether.to/tether-update/
Now ask yourself this, would a company that is operating fraudulently have a roadmap of all these new features that no one will ever use if they don’t provide these promised audits as they say they will by the end of the year?
So as of now they have enough runway until the end of the year. I say we give TetheFinex the benefit of the doubt.
While Tether could be operating fractionally (so to could any exchange in crypto btw), there is no proof or evidence of it today. It trades at normalized rates. You can’t just create 100’s of million of dollars without the marketing realizing somewhere.
Sure, you can say this is a confidence game, but so is crypto, so is the USD, so is the concept of money. I see no reason to be more concerned with this risk than the already risky environment we trade in with exchanges.
WHAT IF I”M WRONG? CRYPTO WILL IMPLODE!
No it won’t. Sure there will be a dip maybe even a correction, but there are only 395 million Tethers. People will get out of Tether even at massive discounts (until $0) into crypto because they can’t get USD, but not more than the 395 million tethers circulating (at this time).
At a certain discount people will understand what is going on and stop trading for Tether. BTC + ETH is worth over $100 billion, how many time does the entire amount of USDT have to turn over to cause a massive crash?
What will get hit the hardest are the people left holding tether (if/when they implode) and Trex/Polo/Finex.
To think Polo/Trex would rely so much on USDT that they didn’t fully vet it is absurd as well. Whats more likely, Polo/Trex’s due diligence or this @Bitfinexed person based on conjecture?
I’ve already seen a Forbes contributor try and get ahold of Bitfinexed on twitter. https://twitter.com/laurashin/status/894437272241569792
Could I be wrong about all of this??? Of course, but, I feel I have provided more evidence than the other side. You are the Judge :)
USEFUL INFO
Some from u/udecker - Tether co-founder
Tether.to is who has the backing for the token, not Bitfinex. Bitfinex is a customer of Tether. If Bitfinex wants more Tether, they make a request to Tether, just like all other Tether customers. Tether waits for USD to show up, and when it does, creates the necessary tethers and credits Bitfinex. They both have Tawainese banking so money can flow back and forth easily. (The banking industry in the country of Taiwan are under scrutiny lately because of larger legal issues not involving crypto, but clearly affecting crypto companies)
https://wallet.tether.to/transparency
Tether wasn’t designed to be a profit machine. It was designed to be a utility for the crypto community to provide a stable token (with all the benefits of this). Tether’s business model is this: 1. Generate fees from wire deposits and withdrawals and conversions. 2. Interest income on the reserve.
Bitfinex’s parent company owns a 20% stake in Tether.
People say Tether isn’t being burned. But they are being recycled which is/was always an option.
I hope we can have a productive conversation around this without the usual Gox 2.0, sell it all, Bitfinex is the anti-christ comments with no substance. Give us your opinion and perspective because maybe I am missing something… but, maybe you are too.
This was quite time consuming (just ask my kids and boss, lol) So if you found this info helpful you can donate if you’d like here, if not, no biggie smalls :)
ETH - 0x0181D1C82229BAD741BB6c302ae523aE6DC9a1EE
BTC - 14Wz4SCuKwa81UBh1U7mcaCTxMsYLLuGZK
BCH- 16uby9gW79tjn5guQG8v5mTsdu6V6cYyKF
submitted by bhdgsetyf to CryptoCurrency [link] [comments]

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