H.G Markets - Harvest Group

In its third consecutive cut since June, the Bank of Canada lowered its key interest rate to 4.25 per cent on Wednesday, citing the continued easing of inflation. While the move was widely anticipated by economists, the gradual pace of cuts has sparked some questions about when a more dramatic move might be made. "If we need to take a bigger step, we're prepared to take a bigger step," Bank of Canada governor Tiff Macklem said during a news conference Wednesday. "At this point, 25 basis points looked appropriate." The decision Wednesday followed a pattern established earlier this summer when rates were cut to 4.75 per cent in June and 4.5 per cent in July. The next Bank of Canada interest rate decision is on Oct. 23. #HGMarkets #TopBroker #ranking #FuturesTrading #PMEX #MarginTrading #intresetrates #BankofCanada #ratecut #inflation

Oil prices extended declines during Asia trading hours, after a report that Libya’s oil production was set to be restored pressured prices overnight. In a note published late August, Goldman Sachs forecast a “sharp slowdown” in China’s oil demand — the bulk of which is owed to the shift from oil to natural gas and power via EVs. China is the world’s largest importer of oil and the second-largest consumer. Lipow also noted that the political solution in Libya is likely to get resolved, restoring production that had been cut by 700,000 barrels per day due to a local blockade. Libya’s oil reserves are the largest in Africa. Concerns about OPEC+ adding production into a perceivably oversupplied market have also been driving prices lower, said Joshua Young, founder of oil and gas investment firm Bison Interests. Key members of the oil group signaled that they will increase output by 180,000 barrels per day, according to Reuters. #HGMarkets #TopBroker #ranking #FuturesTrading #PMEX #MarginTrading #Commodities #BrentOil #CrudeOil

U.S. stocks slumped on Tuesday, at the start of one of the market's historically worst months, ahead of data likely to influence how much the Federal Reserve will lower interest rates. The benchmark S&P 500 index, Nasdaq Composite Index and the Dow Jones Industrial Average recorded their biggest daily percentage declines since early August. Nine out of 11 S&P 500 sectors fell, led by declines in technology, energy, communication services and materials. Market sentiment weakened as Institute for Supply Management data on Tuesday showed U.S. manufacturing remained subdued despite a modest improvement in August from an eight-month low in July. September is widely regarded as one of the worst months for stock market performance based on data stretching back to the 1950s. #HGMarkets #TopBroker #PMEX #MarginTrading #Commodities #stocks #SandP500 #Inflation #Nasdaq

GBP/USD started the week in the midrange, with a quiet UK economic calendar and US markets closed for Labor Day. Despite the slow start, the pair may continue its pullback, unless the upcoming US jobs data shakes things up. Key focus this week is on US labor figures, with the ADP report on Thursday and the crucial NFP data on Friday, both pivotal ahead of the Fed’s September 18 rate decision. #forex #trading #GBPUSD #HGMarkets #graph

Top Ten Brokers of the Week (Week: August 26 - August 30, 2024) H.G Markets maintaining its top spot based on Traded Value #HGMarkets #TopBroker #ranking #FuturesTrading #PMEX #MarginTrading #Commodities

Week's important Economic Reports ( Monday, 26 August 2024 - Friday, 30 August 2024) #HGMarkets #TopBroker #ranking #FuturesTrading #PMEX #MarginTrading #Commodities #Metals

KSE-100 index's earnings yield surpasses 10-year Pakistan Investment Bond yield by 1.5%, making equities more attractive to investors. Market awaits IMF program finalization and key corporate results from Sazgar, Airlink, and Attock Group. Lower inflation figures and interest rate cut hopes may limit market downside. Recent corporate announcements from National Bank of Pakistan and Fauji Foundation's acquisition of Agha Steel positively impact market sentiment. Fuel price revisions and significant cuts expected. August's inflation rate to be released on Monday, possibly falling to single digits. Stay updated on PSX news!  #PSX #KSE100 #PakistanStockExchange #Futures #HGMarkets #Trading

Euro zone inflation dropped to a three-year low of 2.2% in August, flash figures from statistics agency Eurostat showed on Friday. The decline from 2.6% in July was in-line with the forecast of economists polled by Reuters. The core rate — excluding the more volatile components of energy, food, alcohol and tobacco — fell to 2.8% in August from 2.9% in July, also matching a Reuters poll. It come after price rises in Germany, the euro area’s biggest economy, cooled more than expected to 2% for the month, on a euro zone harmonized basis. #forex #eurusd #usdollar #interestrates

Top Ten Brokers of the Week (Week: August 19 - August 23, 2024) H.G Markets maintaining its top spot based on Traded Value #HGMarkets #TopBroker #ranking #FuturesTrading #PMEX #MarginTrading #Commodities

Week's important Economic Reports ( Monday, 26 August 2024 - Friday, 30 August 2024) #HGMarkets #TopBroker #ranking #FuturesTrading #PMEX #MarginTrading #Commodities #Metals