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Forex market opening hours Best Time To Trade Forex

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The forex market is the largest in the world–no financial market comes close to it in terms of trade volume. Forex trading does not happen from one particular location but rather it is carried out between participants via phone and electronic communication networks (ECNs) in multiple markets across the globe. Visit multibankfx.com

The market is open 24 hours a day all over the world, from 5 p.m. EST on Sunday until 4 p.m. EST on Friday. During any time of the day, you will find at least one market open. Often there are also overlaps in the hours between one region’s market closing and another opening. Since currency trading is conducted globally, you would find traders all over the world creating and meeting demands for a certain currency.

Why the 24-hour trade?

Forex trading has a 24-hour period because of the multiple international time zones, and the fact trades are carried out through a network of computers instead of a central location that shuts down after a point. Suppose if you find out that the U.S. dollar closed at a certain rate, it merely indicates at which the market in New York closed. This happens as currency is traded around the world even after New York’s close, contrary to how securities work.

Forex trading begins with the opening of the Australasia markets, followed by Europe, and then North America. When the markets of one region close another opens or have already opened, so trading in the forex market goes on. Some of the most active periods of forex trading are in a couple of overlapping hours between the different markets.

Forex market hours

International currency markets are inclusive of banks, commercial companies, central banks, investment management firms, hedge funds, and also retail forex brokers, and investors. Since we’re talking about a market that operates in different time zones, you are free to access it at any point of time excluding the weekend break.

The international currency market is not led by any one market exchange but it works with a global network of exchanges and brokers all over the world. Forex trading hours are based on the timing of the market of every country that takes part. Though the time zones may overlap, the widely accepted time zone for every region are as follows:

New York 8 am to 5 pm EST (1 pm to 10 pm UTC)

Tokyo 7 pm to 4 am EST (12am to 9am UTC)

Sydney 5 pm to 2 am EST (10 pm to 7 am UTC)

London 3 am to 12 noon EST (8 am to 5 pm UTC)

Best time to trade Forex

Simply because you have the option to trade any time of the day or night is not a good enough reason to actually put this into practice.

It is advised that one should be trading only in an active market when there are many forex traders opening and closing positions and so there’s a large volume of trades.

  • London and New York are the two busiest markets. In the time frame when these two trading sessions overlap (London afternoon and New York morning) there is a lot of traffic in the market and it makes up for a majority of volume traded in the day market that is estimated to be worth $6 trillion.
  • The U.S. dollar, the Euro, the Japanese yen, the British pound, the Australian dollar, the Canadian Dollar, and the Swiss franc are the top traded currencies. All seven of them are traded continuously during the time the forex market stays open.
  • Forex brokers provide tighter spreads (bid and ask prices closer to each other) when the trading volume is at its peak. This implies low transaction costs for traders.
  • Similarly, institutional traders also prefer to operate in the windows that witness higher trading volume, even though they are open to accepting wider spreads for the opportunity to trade as early as possible in case they have accessed some new piece of information.

Notwithstanding the fact that the forex market remains highly decentralized, it continues to be one of the most effective transfer mechanisms for its participants as well as a far-reaching access mechanism for the ones who want to predict from different parts of the world.

Trading volume

Of course, you can earn by trading when the market is doing well but did you know that it is also possible to earn when the market moves down? However, it would be hard to earn in situations when the market doesn’t move at all.

The market moves when there are plenty of trades. This explains why you should concentrate your energy during particular trading sessions.

The forex trading sessions are christened after important financial centers and are roughly based on the local “work day” of traders who operate from those particular cities. The trading volume is high when there are a good number of traders who are actively trading. This makes the market more active.

Price swings

Economic and political instability along with a number of other perpetual changes could have a lasting impact on the currency markets. Central banks often try to maintain the stability of their country’s currency by trading it on the open market and having a relative value in comparison to the other world currencies. Businesses that function in a number of countries also try to reduce the risks of conducting business in foreign markets and hedge currency risk.

In a bid to cut down the risks, businesses enter into currency swaps, because of which they may have the right but not necessarily the obligation to purchase a particular amount of foreign currency for a pre-decided rate in another currency at a date in the future. This strategy helps them limit their exposure to large fluctuations.

Trading with the time zone converter

Here’s how you can effectively use the Forex Market Time Zone Converter:

  • Focus your trading activity in the trading hours for the three busiest trading sessions: Tokyo, London, and New York.
  • A major chunk of the market activity takes place when one of these three markets open.
  • The most active times are when two or more trading sessions overlap and remain open at the same time.

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The Chilling Impact: How Cooling Systems Are Affecting the Climate

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Industrial cooling system exhaust pipe

Introduction:

In our quest for comfort and convenience, we have embraced various technological advancements, including the widespread use of cooling systems. While these systems provide relief from sweltering heat, their impact on the environment, particularly the climate, has raised concerns. From air conditioners to refrigeration units, the energy-hungry nature of cooling systems contributes significantly to greenhouse gas emissions and exacerbates the challenges posed by climate change.

Energy Consumption and Greenhouse Gas Emissions:

Cooling systems are voracious consumers of energy, especially in regions with hot climates. The majority of these systems rely on electricity generated from fossil fuels, releasing copious amounts of carbon dioxide (CO2) into the atmosphere. According to the International Energy Agency (IEA), the global demand for space cooling is expected to triple by 2050, leading to a substantial increase in energy consumption and greenhouse gas emissions.

The Vicious Cycle of Refrigerants:

The refrigerants used in cooling systems also play a crucial role in climate change. Many traditional refrigerants, such as hydrofluorocarbons (HFCs), have a high global warming potential (GWP). When these substances leak into the atmosphere, they trap heat more effectively than CO2, contributing significantly to the greenhouse effect. Efforts are underway to phase out HFCs and replace them with more environmentally friendly alternatives, but the transition is slow.

Urban Heat Island Effect:

The concentration of cooling systems in urban areas has given rise to the urban heat island effect. As buildings absorb and re-radiate heat, coupled with the heat emitted from cooling systems, urban temperatures can be several degrees higher than surrounding rural areas. This phenomenon not only exacerbates the demand for cooling but also contributes to a feedback loop, where higher temperatures lead to increased reliance on cooling systems, further intensifying the urban heat island effect.

Impact on Natural Resources:

Cooling systems also place a strain on natural resources, particularly water. Air conditioning units and industrial cooling processes often require large amounts of water for cooling purposes. In regions already grappling with water scarcity, this creates a competition for limited resources, with potential ecological and social ramifications.

Sustainable Solutions:

Addressing the environmental impact of cooling systems requires a multifaceted approach. Energy-efficient technologies, such as variable speed compressors and smart building designs, can reduce the overall energy demand. Additionally, the transition to climate-friendly refrigerants, like hydrofluoroolefins (HFOs), can mitigate the warming potential of these systems.

Governments and industries must collaborate to establish and enforce stringent regulations on refrigerant management and energy efficiency standards. Encouraging the adoption of renewable energy sources for powering cooling systems is also pivotal in reducing their carbon footprint.

Conclusion:

As we continue to experience the effects of climate change, it is imperative to recognize the role that cooling systems play in exacerbating these challenges. Balancing the need for comfort with environmental responsibility requires a shift towards sustainable technologies and practices. By embracing energy-efficient solutions, phasing out harmful refrigerants, and promoting responsible resource use, we can strive to cool our spaces without heating up the planet. The choice is ours – to create a cooler, sustainable future or contribute to the warming trend that threatens the health of our planet.

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How Does CIBIL Score Affect Hour Home Loan Application?

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Obtaining a Home Loan is a significant step towards fulfilling your dream of owning a house in India. However, before a bank or financial institution grants you a Home Loan, they assess various factors to determine your eligibility and risk. One of the crucial elements in this process is your CIBIL score. 

This article will discuss what importance a cibil score for home loan holds and how it affects your loan application. It will also provide tips on improving your chances of securing a Home Loan. 

What is a CIBIL Score?

Your CIBIL score, also known as a credit score, is a three-digit number that reflects your creditworthiness. It is provided by the Credit Information Bureau (India) Limited, or CIBIL, and is based on your credit history. This score typically ranges from 300 to 900, with a higher score indicating better creditworthiness.

Your CIBIL score holds significant importance when applying for a Home Loan. It serves as a quick measure of your creditworthiness, indicating your ability to repay the loan. A higher score enhances your chances of loan approval and may secure a lower interest rate, potentially allowing access to a larger loan amount for your dream home.

How to Check Your CIBIL Score?

Before knowing how to get a Home Loan, it’s essential to know your CIBIL score. Here’s how you can check it:

  • Visit the CIBIL Website

Go to the official CIBIL website (www.cibil.com) and navigate to the section where you can request your credit report and score.

  • Provide Required Information

You’ll need to provide personal details like your name, date of birth, PAN card number, and contact information.

  • Pay the Fee

A nominal fee is charged for accessing your CIBIL score. Follow the payment instructions on the website to complete the process.

  • Receive Your Credit Report

Once you’ve paid and submitted the necessary details, you’ll receive your credit report, which includes your CIBIL score.

  • Review Your Report

Carefully review your credit report for any errors or discrepancies. If you find any inaccuracies, report them to CIBIL for correction.

Factors That Influence Your CIBIL Score

Several factors determine your CIBIL score. Understanding these factors can help you maintain or improve your creditworthiness:

Payment History

Maintaining a good CIBIL score hinges on your ability to pay credit card bills, loan EMIs, and other dues on time. This aspect, accounting for 35% of your score, underscores the importance of timely payments in your credit profile.

Credit Utilisation

Your credit utilisation, a 30% contributor to your CIBIL score, reflects the balance between the credit you use and your available credit limit. To boost your score, keeping your credit utilisation low is crucial, indicating responsible credit management.

Credit History Length

Your credit history’s length carries a 15% weight in determining your CIBIL score. A longer credit history demonstrates your sustained ability to handle credit responsibly, positively influencing your score over time.

Credit Mix

Diversifying your credit portfolio can enhance your score by 10%. Maintaining a mix of credit types, like credit cards, Personal Loans, and Home Loans, can showcase your ability to manage various financial commitments effectively. However, remember to handle them responsibly.

Recent Credit Inquiries

The number of credit inquiries made within a short timeframe accounts for 10% of your CIBIL score. Frequent inquiries can negatively impact your score. It’s advisable to refrain from applying for multiple loans or credit cards simultaneously to maintain a healthy credit profile.

How Your CIBIL Score Affects Your Home Loan Application?

Let’s see how your CIBIL score affects your home loan application.

Loan Approval

As mentioned earlier, your CIBIL score significantly influences the loan approval process. Lenders prefer applicants with higher scores as they are seen as less risky borrowers. A good score increases your chances of having your Home Loan application approved.

Interest Rates

Your CIBIL score directly influences the interest rate offered on your Home Loan. A high score can help you secure a lower interest rate, reducing your overall cost of borrowing. Conversely, a lower score may result in a higher interest rate, making the loan more expensive.

Loan Amount

Lenders often use your CIBIL score to determine the maximum loan amount they are willing to offer you. A higher score can grant you access to a larger loan, making it easier to purchase the property you desire.

Loan Tenure

A good CIBIL score may allow you to negotiate a longer loan tenure, spreading your repayments over a more extended period and reducing your monthly EMI burden.

Negotiating Power

A high CIBIL score can also give you more negotiating power when discussing loan terms with lenders. They may be more flexible in accommodating your preferences, such as lower processing fees or faster approval. 

Tips to Improve Your CIBIL Score for Home Loan

Pay Bills on Time

Timely payment of your credit card bills, loan EMIs, and utility bills is crucial. Late payments can negatively impact your score and result in late fees, making it essential to set up reminders or automated payments to ensure you never miss a due date.

Reduce Outstanding Debt

Aim to lower your credit card balances and outstanding loans. Reducing your credit utilisation ratio, which is the amount of credit you’re using compared to your total credit limit, can positively affect your score. It’s wise to prioritise paying down high-interest debts first to save money in the long run.

Don’t Apply for Multiple Loans

Avoid applying for multiple loans or credit cards within a short period, as this can lead to numerous inquiries on your credit report and lower your score. Instead, carefully consider your credit needs and apply for new credit only when necessary to minimise the impact on your creditworthiness.

Conclusion

Your CIBIL score plays a vital role in your Home Loan application process. It determines your creditworthiness, loan approval, interest rates, loan amount, and more. So, it’s essential to be aware of your CIBIL score and take steps to improve it if necessary. By following the tips mentioned in this article and managing your finances responsibly.

You can increase your chances of securing a Home Loan and realising your dream of homeownership in India. Remember, a good CIBIL score is your passport to a smoother and more affordable Home Loan journey.

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Navigating Financial Waters: A Comprehensive Guide to Globe Investor

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Introduction:

In the ever-evolving landscape of financial markets, staying informed and making well-informed investment decisions are paramount. For investors seeking a comprehensive platform that provides real-time data, in-depth analysis, and a plethora of tools, Globe Investor stands out as a go-to resource. In this article, we will explore the various features and benefits of Globe Investor, delving into how it serves as an indispensable tool for both novice and seasoned investors alike.

Understanding Globe Investor:

Globe Investor is the financial arm of The Globe and Mail, one of Canada’s most prominent and trusted news outlets. Designed to cater to the diverse needs of investors, the platform offers a wide range of tools, data, and insights to empower users in making informed financial decisions. Whether you’re a casual investor or a seasoned professional, Globe Investor provides a wealth of resources to help you navigate the complex world of finance.

  1. Comprehensive Market Data:

    One of the standout features of Globe Investor is its provision of comprehensive market data. From real-time stock quotes to historical performance data, users can access a wealth of information to analyze market trends and make data-driven decisions. The platform covers a wide array of assets, including stocks, bonds, mutual funds, and exchange-traded funds (ETFs), ensuring that investors have the information they need for a diverse investment portfolio.

  2. Portfolio Tracking and Management:

    Globe Investor offers robust tools for portfolio tracking and management. Investors can create and monitor their investment portfolios, track the performance of individual assets, and receive timely alerts on market changes. This feature is particularly valuable for those looking to keep a close eye on their investments and make adjustments based on market dynamics.

  3. News and Analysis:

    Being a part of The Globe and Mail, Globe Investor provides users with access to high-quality financial news and analysis. The platform’s editorial team delivers timely insights, breaking news, and in-depth analyses that can be crucial for investors looking to understand the factors influencing the market. The combination of reliable news reporting and financial analysis makes Globe Investor a trusted source for staying abreast of market trends.

  4. Educational Resources:

    For investors looking to enhance their financial literacy, Globe Investor offers a plethora of educational resources. From articles and tutorials to webinars and expert interviews, the platform is committed to helping users deepen their understanding of financial markets, investment strategies, and economic trends. This emphasis on education makes Globe Investor an inclusive platform that caters to investors at every level of expertise.

  5. Customization and Alerts:

    Globe Investor recognizes that each investor has unique preferences and requirements. The platform allows users to customize their experience, providing personalized watchlists, alerts, and filters. Whether you are interested in specific sectors, industries, or individual stocks, Globe Investor lets you tailor your interface to focus on the information that matters most to you.

  6. Technical Analysis Tools:

    For investors who employ technical analysis in their decision-making process, Globe Investor offers a suite of tools to support their needs. Charting capabilities, technical indicators, and historical price data enable users to conduct thorough technical analyses of various assets. These tools empower investors to make well-informed decisions based on both fundamental and technical factors.

  7. Dividend Analysis:

    Dividend investors will find Globe Investor to be a valuable resource for dividend analysis. The platform provides comprehensive information on dividend-paying stocks, including historical dividend yields, payout ratios, and dividend growth trends. This allows income-focused investors to identify and evaluate potential dividend investments more effectively.

  8. Integration with Globe and Mail Subscriptions:

    Subscribers to The Globe and Mail can seamlessly integrate their subscriptions with Globe Investor, unlocking additional premium features and content. This integration ensures that users have access to a wealth of news and insights beyond the financial realm, enriching their overall understanding of the factors shaping the market.

  9. Mobile Accessibility:

    Recognizing the importance of accessibility in the digital age, Globe Investor offers a mobile app that allows users to stay connected and informed on the go. The app provides a user-friendly interface, real-time updates, and essential tools, ensuring that investors can manage their portfolios and make informed decisions anytime, anywhere.

Globe Investor’s Contribution to Financial Literacy:

Beyond its role as a data and analysis platform, Globe Investor actively contributes to the promotion of financial literacy. The platform recognizes the importance of empowering individuals with the knowledge and skills needed to make sound financial decisions. Here are some ways in which Globe Investor fosters financial literacy:

  1. Educational Content:

    Globe Investor regularly publishes educational content aimed at demystifying complex financial concepts. From articles explaining investment strategies to tutorials on reading financial statements, the platform’s educational resources cater to investors at various levels of expertise.

  2. Webinars and Workshops:

    To further engage and educate its user base, Globe Investor hosts webinars and workshops featuring industry experts. These interactive sessions cover a wide range of topics, including market trends, investment strategies, and economic outlooks. This initiative ensures that users have access to valuable insights from seasoned professionals.

  3. Investment Guides:

    Globe Investor provides comprehensive investment guides that cover various aspects of investing. These guides serve as valuable resources for individuals looking to build a solid foundation of knowledge in areas such as stock investing, retirement planning, and risk management.

  4. Community Forums:

    Recognizing the importance of peer-to-peer learning, Globe Investor facilitates community forums where users can discuss investment ideas, share insights, and seek advice. This collaborative environment encourages the exchange of knowledge and experiences among investors, contributing to the collective financial literacy of the community.

Conclusion:

In a world where financial markets are dynamic and complex, having a reliable and comprehensive resource is essential for investors of all levels. Globe Investor, with its robust set of features, real-time data, and commitment to financial literacy, stands out as a valuable tool for those navigating the financial landscape. Whether you are a novice investor looking to build your first portfolio or a seasoned professional seeking in-depth market analyses, Globe Investor provides the tools and information needed to make informed and strategic investment decisions. As an integral part of The Globe and Mail, Globe Investor not only delivers financial data but also enriches the user experience with high-quality news reporting and educational content. In the journey of financial exploration, Globe Investor serves as a trusted compass, guiding investors through the complexities of the market with precision and reliability.

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