FOREX definition in the Cambridge English Dictionary
FOREX definition in the Cambridge English Dictionary
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FOREX meaning in the Cambridge English Dictionary
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Why China is Pumping China Stocks
TLDR: China is actively fighting domestic capital outflows. They are incentivising keeping funds on-shore by pumping the equity markets. Buy large China stocks (BABA, JD). Inb4 pos or ban The Economics China has a fixed exchange rate regime. Blah blah RMB internationalization, blah blah offshore RMB (which is actually settled in US dollars). This places it within line C of the policy trilemma (which says, you can't sustainably have all 3). Since 2005 to about 2017, the government was moving towards free capital mobility because of large amounts of exports which fed the national forex reserves. You bet billions of RMB left China, which the government didn't really like at first because that reduced domestic investment and would contribute to a weaker RMB. Basically, China was trying to do all 3 which works for a short while... until your forex reserves run out. https://preview.redd.it/g0nwsssoe7f51.png?width=580&format=png&auto=webp&s=0e46b6b2cfa12b351b30ff2c5567c2f9992e99b2 The Current Problem The trade war has definitely been bad for China. I am going to try and skip politics, but basically foreign exchange reserves have been gapping down (official Chinese data is 100% fake). China is increasingly bellicose as well, which doesn't improve relations with trading partners who also buy with US dollars. You can't exchange for US dollars anymore. For private citizens, you can only exchange for education purposes or travel . For companies, you need verification of invoices through both SAFE (State Administration of Foreign Exchange) and the tax offices. This used to take 24hrs, but is now taking 2-3 weeks for amounts >$500k. China also has US dollar denominated bank accounts. But unfortunately, you can't take it in cash unless you have the reasons above. Chinese media is also branding holding US dollars as unpatriotic, so I'm afraid my $50k in digital money might be subject to confiscation. If not, it's just fake money (can't take cash or wire out). China has been brrrrrring to the pace of JPOW. Weapon of choice are muni and local bonds, which have been forced upon local banks. This creates a certain credit problem, but let's not worry about that until later. https://preview.redd.it/maul8aope7f51.png?width=1200&format=png&auto=webp&s=36dd4665517ec7303b51aa1416517c9e0ea50bef The Solution China's pretty smart. All those RMB quotes are fake. You can try to get US dollars, but that is almost impossible now. Anyone who wants to buy RMB, contact me and we'll trade at the current price. So looking at the impossible triangle, free capital mobility has become nonexistent. In order to keep exchange rate stability (to avoid a sudden rush towards the door) and keep printing, free capital mobility needs to be 100% sacrificed. How do you do that with a population that has seen the west and aspire to get out? You need to keep the money onshore. Thankfully, all Chinese are greedy and the equity markets are full of retailers that pump stocks up or down 10% per day. This is one of the reasons for the early July State Council report calling for everyone to buy stocks. Who's buying? Everyone. And if it drops, the national team takes over. This creates a powerful incentive to fill the foreign reserves again. Foreigners (funds) would want to get in on the action. They will exchange their dollars for RMB, get those 20% gains, but eventually find out trying to get that money back into USD is impossible. China has also been strengthening the RMB from 7.10 to 6.96 as of yesterday. Smart, because why would you want to sell an asset that's weakening? This is also a reason why China fears gold rallies - buying gold causes RMB to leave. Happily for the SAFE, some banks have stopped offering their paper gold products. China will pump its domestic markets. Unless you have a Chinese account, the closest thing you can get to are mega names like Alibaba, JD and Tencent. I would avoid touching too small companies because of LK coffee problems. Oh yeah the trade war? Well, pussies don't make money.
Communication is all about clarity. We communicate some piece of information, the recipient gets it. Straightforward on the face of it. Speaking about trading will typically be succinct, focused, and very clear when complete. The ‘audience’ has as many expectations as the speaker though: one should know the context and purpose of the information they are getting to a specific discourse. I occasionally drop into jargon or analogy. It’s a personal weakness: I assume the audience will have the appropriate context of the situation, and knowledge of the context. It’s also a habit. I was on a recorded line for a decade, and use as few a words as possible in a business situation. My writing, not so much. I’ve hesitated to talk much about trading, because of ‘it’. I’ve seen ‘it’ far too often…..’it’ being people using language and jargon of trading without really knowing what they are talking about. A great example of this is around options. People can pick up the definitions, the verbiage, the ‘lingua franca’ as it were. Problem is, they have no clue what they are talking about in the whole. Sure, definitions are known and expounded upon. But the context/situation remains in the abstract to them. Or what they are talking about doesn’t sync with the nature and purpose of the exposure they are taking on. Like talking about that cool new skateboard you’re riding as you're sitting on a bicycle. This isn’t conceit or hubris - it’s only what I’ve observed. Hence the backstory above. Speaking with u/modo85 and u/TheJosh last week plugged me in again to professionals face to face, and a recent post about Constellation by a sub got me thinking about trade again. So….I’m going to tackle the most misunderstood word in trade: hedging. I was taught in business school that a hedge is a ‘risk neutral activity’. One can find definitions for hedging in many places, and for the most part, they’ll align. What won’t is the people using the term. Dynegy, Enron, and other companies took on ‘hedging programs’ that were often positions of leverage. Even the word ‘hedge fund’ is a relative misnomer. Looking at some of the bomb craters left behind by a couple of them....they were either simply a ponzi or flavours of insider trading. They weren’t hedging, they were stealing. So, what’s a hedge? A risk neutral activity that reduces aggregate risk to a primary exposure. A Canadian company buying a greenhouse from an American supplier in 4 easy payments over the next 2 years? Great. You’ll have to pay in USD, so, buy forwards in 6 month increments, pay CAD at the time they come due, your forex exposure is gone, and the total cost is known in advance. The USD/CAD rate might move for or against you during that time. But that’s the point of a hedge: replace risk with certainty. A while ago, Westjet bought a strip of jet fuel futures, taking out physical price exposure for (a very long) 2 years. While not unheard of, it’s a pretty big move. If jet fuel prices tank, they get to eat the difference. As it happened, jet fuel prices soared, Westjet bought physical with cash and offset the futures gains against it. They enjoyed a 2 year window of serious operational cost advantage, and their share price accretion showed it. Prescient....or lucky? That’s what business books are written about. This example might have prompted you to think about another industry where energy is the single largest direct input cost behind headcount (hint: it's cannabis) Constellation’s entry through the CGC buy is another example of a hedge to myself. Different nature and purpose, but a hedge nonetheless. In my eyes, STZ sells booze. Weed will impact aggregate sales of booze, with potential to reduce it. STZ’s buy into the industry is a hedge is to replace dislodged revenue from booze by dope: cannabis exposure will replace these lost revenues, keeping STZ whole. A hedging program is part of a larger initiative, and plugged directly into the strategic course of the business. It has topline impact. If you’ve noticed - the Westjet and STZ examples above are for far different underlying purposes - but they are both simply hedges. Hedging for the retail investor might entail seeking exposure to different provinces, or different links of the value chain, or perhaps within wholesale or retail price exposures. With hedging, you are seeking to reduce, not enhance, existing exposure. The other takeaway is (and there is one in here): don’t use terminology and trade terms unless you know exactly what you are talking about, or what the underlying purpose of using it is. It doesn’t matter what someone notices or thinks: any professional can tell pretty quickly if someone knows what they are talking about. What really matters is that you know what you are actually doing when you take on risk of loss to your capital.
Right now segwit2x (BT2) is trading for $1143 and segwit1x (BT1) is $3070 on Bitfinex futures markets. Even with not the greatest terms, you would expect 2x to be much higher. I believe this bodes well for BCC. (61 points, 112 comments)
The other day people were suggesting we do an EDA change before the November 2x fork. Here is why I think that is a terrible idea, and why we should only consider EDA change AFTER the 2x fork. (58 points, 40 comments)
While /bitcoin was circle-jerking to the idea that no exchange would list the SW2x chain as BTC, Bitcoin Thailand's comment to the contrary was removed from the very same thread! (228 points, 70 comments)
By proving that it can be done (getting rid of Core) this will set a HUUGE precedent and milestone that dev teams and even outright censorship cannot overtake Bitcoin. That will be an extremely bullish occasionfor all crypto. (149 points, 84 comments)
The goal of all the forks appears to be to dilute investment in the true forks: Bitcoin Cash and Segwit2x. A sort of Scorched Earth approach by Blockstream. They are going to try to tear down Bitcoin as they get removed. (35 points, 11 comments)
In light of all these upcoming forks, we need a site where you can put in a BTC address and it checks ALL the forks and says which chains still have a balance for that address. This way you can split your coins and send coins carefully. (6 points, 6 comments)
Can we take a moment to appreciate Jeff Garzik for how much bullshit he has to deal with while working to give BTC a long-needed upgrade that Core has been blocking for so long? (278 points, 193 comments)
Everyone should calm down. The upgrade to 2x has 95%+ miner support and will be as smooth as a hot knife through butter. Anyone that says otherwise is fear monguring or listening to bitcoin propaganda. (364 points, 292 comments)
Notice: Redditor for 3-4 months accounts or accounts that do not have a history of Bitcoin posts are probably the same person or just a few people paid to manipulate discussion here. It's likely a paid astroturfing campaign. (38 points, 30 comments)
The latest TED Radio Hour titled “Getting Organized” talks about the decentralized algorithms of ants and how centralization is not the most ideal state of an organization. (2 points, 0 comments)
BCC Miners, two EDAs have locked in. This will reduce mining difficulty to 64.00%. If you are aiming to achieve profit parity, you should start mining after the next EDA (in 2.5 hours), because then the difficulty will be at 51%, which gives profit parity on both chains and steady block rate. (9 points, 14 comments)
Antpool, Viabtc, Bitcoin.com, BTC.com, we need to hear your voice. In the case of a scheduled hardfork for updating the EDA, will your pool follow? (6 points, 18 comments)
Fact: proof of work which is the foundation of bitcoin and not invented by Adam back was designed to counter attacks where one person falsely represents to be many(like spam). Subreddits and twitter dont form the foundation of bitcoin for a reason. (156 points, 27 comments)
I'm a small blocker and I support the NYA (87 points, 46 comments)
Devs find clever way to add replay protection that doesn't change transaction format which would break software compatibility and cause disruption. G. Max responds by saying that this blacklisting is a sign of things to come. (49 points, 57 comments)
Five ways small blocks (AKA core1mb) hurt decentralization (36 points, 4 comments)
Even if bitcoins only use to society was avoiding negative interest rates, bail-ins + bail-outs, that is incredibly useful to society. Of course a banker like Jamie Dimon would call something a fraud that removes a "bank tax" on society by allowing them to avoid these fraudulent charges. (18 points, 0 comments)
There are different kinds of censorship. The core propagandists are unwittingly great advocates of economic censorship (2 points, 1 comment)
Everyone should calm down. The upgrade to 2x has 95%+ miner support and will be as smooth as a hot knife through butter. Anyone that says otherwise is fear monguring or listening to bitcoin propaganda. by Annapurna317 (364 points, 292 comments)
Tips for avoiding card fees and banking charges when traveling abroad long-term
I’m leaving on January 1 for open-ended travels, and I thought some of you might find it helpful to see how I am planning to use credit cards, debit cards and cash to minimize fees and currency-exchange costs while abroad. First, though, I should point out that I’m from the US and using US-based cards, so all the research I’ve done is from that perspective. And my first several destinations will definitely be in Europe, so I assume I’ll be able to use a credit card at most of the places I’ll go. On past trips, I mostly tried to spend cash everywhere. I have a Chase checking account, and at the beginning of each week I was abroad, I would take out cash for 7 days from a local ATM, for which Chase would charge a flat $5 plus a fee for converting the cash. Most months, this worked out to about $25 in charges, and I just sort of wrote that off as a necessary expense. This time, I want to be smarter about both avoiding fees and security — I was tempting fate by using a debit card exclusively for all these years. Here is my plan: The Cards I’m Bringing On My Trip First, I’m following the advice of Marcello Arrambide at Wandering Trader and setting up two accounts with my bank, still Chase. One has a debit card attached to it, and the other doesn’t. That way, I can easily control the amount of cash my debit card has access to. Second, I’ll bring a Chase Sapphire Preferred credit card, which is what I’ll use for all of my non-cash payments. That card has no fees for foreign transactions, and that’s the main reason I got it. Here are a few other American credit cards with no foreign transaction fees, courtesy of Nomadic Matt:
Capital One VentureOne Card
Chase Ink (business card)
United Mileage Plus
Some Discover cards
Barclays Arrivals Plus World Elite Mastercard
There are many more such cards, so just about anyone who qualifies for a credit card in the US can find a decent card to use abroad. Tips for Using Credit Cards
Don’t let a merchant charge you in any currency other than the local one. This dynamic currency conversion comes with a fee, which can be as much as 5%. So, you’re basically paying 105% for whatever you buy when you do this.
Rick Steves even points out that some merchants will hand you a receipt with totals in both the local currency and one in your home currency. In those cases, his advice is:
Circle or check the amount in the local currency before you sign. If your receipt shows the total in dollars only, ask that it be rung up again in the local currency.
As /protox88 pointed out in a Money Matters thread a while back, don’t use your credit card to take out cash. That’s what your debit card is for.
Ideally, you would be able to put most of your spending on your no-transaction-fee credit card and pay that off each month. That would be the cheapest way to spend money abroad — but far too many places are cash-only for that to work. So, you’ll likely have to eat a charge for taking out money. The trick is to strike a balance between going to the ATM only sporadically and not carrying around fat wads of cash. Getting Cash No matter how you pay, you’ll lose a little bit of money on exchange rates. Credit cards tend to have the smallest spreads. After that are ATM withdrawals (and worst is exchanging cash at a currency exchange / bureau de change desk). When withdrawing cash, it’s best to use an ATM inside of a bank rather than one on the street. I’ve had my debit card data stolen a couple of times by opting for convenient ATMs at a metro station (usually during a night out). The cheapest options for using an ATM are if your card is from a bank that’s a part of the Global ATM Alliance, and you’re withdrawing from an ATM that’s part of that alliance. Keeping ATM withdraws within this network mostly eliminates foreign ATM charges, though there are some exceptions. Again, protox88 has some helpful advice: Alliance members might still charge a forex spread (the cost of exchanging currencies) of 2.5% on your withdrawal. No matter what, you’ll likely get charged something for taking cash out of an ATM because it costs banks money to exchange currencies.
Open a Schwab checking account and you'll have no fees at any ATM worldwide.
Exchanging Currencies Currencies and forex are a huge topic, and one that used to make my eyes glaze over. After a few years of dealing with this stuff, I’ve learned a few things:
Don’t exchange money at an airport currency exchange kiosk. Their spreads — the difference between what they’ll buy and sell a foreign currency for — are terrible. Use an ATM at the airport before exchanging money.
Keep an eye on spreads as you travel. Usually, a currency exchange will set its buy price 2.5% lower than the official exchange rate and its sell price 2.5% higher. So, if the euro is trading at US$1.10, you’re getting a good deal if a currency exchange will buy your dollars at US$1.09 per euro or sell you euros for US$1.11. I spent a lot of time in the Baltic states, and some of the sketchiest little currency exchange booths had the best exchange rates you’d find in Riga or Vilnius.
Also, keep an eye on exchange rates in general. If your spending money is denominated in dollars right now, you’ve got more buying power in most countries than you would have 15 months ago. I was in the Eurozone when 1 EUR = US$1.50, and that was painful. Now, it’s just below US$1.10, which isn’t far off from some US retail prices once you factor in state sales taxes.
Retail trade is widely known as a very competitive area of commercial endeavor, and observers note that many fledgling retail establishments do not survive for more than a few years. By definition, the SEC considers retail investors unsophisticated investors, who are afforded certain protections and barred from making certain risky, complex investments. FXTM helps you learn forex definitions, we've compiled a Forex Glossary which aims at explaining forex trading terminology in the simplest way possible. FXTM EU . Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you ... retail asset space and also fee-based income space through third party distribution. Banks are dynamically re-engineering their retail strategies on four basic parameters viz., Product, Process, Technology and People, to realise their business objectives. The approaches of the banks to retail business run concurrently along with the corporate business objectives and subject to market dynamics ... Retail distribution also includes home sales such as Avon Products and TV retailers like QVC. The retail industry also sells services, including restaurants, hotels, and hairdressers. The most critical time in retail sales is the holiday shopping season. It accounts for almost 20% of annual sales for many retailers. For jewelers, it accounts for 70% of yearly sales. The holiday shopping season ... Forex Training Definition. Forex training, broadly, is a guide for retail forex traders, offering them insight into successful strategies, signals and systems. more. Forex Charting Software. Forex ... PRIIPs Regulation and related RTSs. The aim of the PRIIPs Regulation is to encourage efficient EU markets by helping investors to better understand and compare the key features, risk, rewards and costs of different PRIIPs, through access to a short and consumer-friendly Key Information Document (KID). How information in the KID should be calculated and presented is set out in the PRIIPs ... forex meaning: abbreviation for foreign exchange. Learn more. So, what is a forex trader definition? Wikipedia describes a forex trader meaning as: “A [forex] trader is a person or entity, who buys and sells financial instruments such as stocks, bonds, commodities, derivatives, and mutual funds in the capacity of agent, hedger, arbitrageur, or speculator.” In other words, the forex trader meaning is: It’s a person who actively takes part in ... forex definition: abbreviation for foreign exchange. Learn more.
What is RETAIL BANKING? What does RETAIL BANKING mean? RETAIL BANKING meaning & explanation
UNCOVERED INTEREST ARBITRAGE meaning - UNCOVERED INTEREST ARBITRAGE definition - UNCOVERED INTEREST ARBITRAGE explanation. Source: Wikipedia.org article, adapted under https://creativecommons.org ... Bucket shop (stock market) From Wikipedia, the free encyclopedia Jump to: navigation, search Bucket shop is a brokerage firm that books" (i.e., takes the opposite side of) retail customer orders ... MIT 18.S096 Topics in Mathematics with Applications in Finance, Fall 2013 View the complete course: http://ocw.mit.edu/18-S096F13 Instructor: Jake Xia This l... Education - http://www.itpm.com/education/ Mentoring - http://www.itpm.com/trader-mentoring/ Seminars - http://www.itpm.com/seminars/ Frequently Asked Questi... Retail banking also known as Consumer Banking is the provision of services by a bank to individual consumers, rather than to companies, corporations or other banks. Official Youtube page for Investopedia.com - Your source for financial education. Join us on Facebook at http://www.facebook.com/investopedia Connect with us... Binary options are not promoted or sold to retail EEA traders. If you are not a professional client, please leave this page If you are not a professional client, please leave this page Visit my ...