ONLINE FOREX BROKER
India suddenly imposed trading restrictions on up to 162 shell companies. The given shocking move is considered to be a part of an intense crackdown on tax evasion as well as illegal offshore transfers.
Monday’s announcement by the Securities Exchange Board of India didn’t clarify what illegal activities the companies might have been involved in.
The restrictions suggest restricting trading in the affected companies to once a month as well as curbs in the trading of equities held by the promoters, not to mention the directors of the companies.
India’s government has been chasing companies it actually suspects of engaging in illegal transactions after the previous year’s ban on high-value currency bills, including evading taxes and "black money."
Some financial experts told these restrictions had taken market participants by surprise.
Financial experts stress that if these companies have been really practicing money-laundering, then severe penal action should be taken. On the contrary, If not, they should be immediately excluded from the list.
The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now.
Happy Monday, dear traders! Hope you had a great weekend and you’re ready for the last trading week in 2022! Later this week we’ll announce some exciting news for you, but now let’s look through some interesting news! Today’s events: USA, UK, Hong…
On the H4 timeframe, the US dollar index has formed a bullish falling wedge. At the beginning of the trading session, the price is testing the upper border of this wedge. Thus, in case of a higher-than-expected Core PCE Price Index m/m, the US dollar will skyrocket against other currencies.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
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