Recap of European trades on 01.11.2018: GBP/USD, EUR/USD

Recap of European trades on 01.11.2018: GBP/USD, EUR/USD
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    The Brexit issue came under the spotlight in the European trading session.
    Unexpectedly, the United Kingdom and the European Union have finally reached compromise.
    Reportedly, the British and European officials entered into a preliminary agreement
    on the future of the UK's financial companies in the European market.
    Thus, a possibility of striking the final agreement on the divorce procedure increased.
    This news provided support to the British pound.
    The GBP/USD pair added over 2%, hitting the level of 1.2900.
    However, after that the price retreated to the area below 1.12880.
    The manufacturing PMI report put the British currency under pressure.
    In October the reading came in at 51.1 points versus the expected result of 53.
    Besides, the growth eased from the previous month.
    This report was more important to traders than the Bank of England's interest rate decision.
    The outcome of the BOE monetary policy meeting is predictable,
    so it is unlikely to have major impact on the GBP/USD pair.
    Additionally, the euro has also changed the trading bias against its American counterpart.
    The EUR/USD pair added about 80 points amid the weaker greenback.
    Experts anticipate that the euro may reverse by the end of the European session,
    as later in the day the ISM manufacturing report will be release in the United States.
    However, some currency strategists recommend traders to be patient and not make hasty decisions.
    November is Native American Heritage Month! You know the Barnes collection is best known for its incredible paintings. The next time you're #seeingtheBarnes, look for amazing Native American objects such as jewelry, pottery, and blankets. This blanket is a Navajo Third Phase Chief's blanket purchased by Dr. Albert Barnes in the 1930s at the Hubbell Trading Post in Arizona. Navajo textiles like this were originally made as everyday objects for tribespeople, but their incredible craftsmanship made them highly sought after by tourists and collectors like Dr. Barnes. Make sure to also stop by our lower level where Native American jewelry and pottery and are displayed. Unidentified maker. Third Phase Chief's Blanket, c. 1870–1880 Botswana-India Joint Communique during the Visit of the Vice President of India to Gaborone, Botswana (October 31-November 02, 2018) November 01, 2018 At the invitation of His Honour Mr. Slumber Tsogwane, Vice President of the Republic of Botswana, His Excellency Mr. Venkaiah Naidu, Vice President of the Republic of India undertook an Visit to Botswana from 31 October to 02 November, 2018. He was accompanied by Shri Krishan Pal Gurjar, Hon'ble Minister of State for Social Justice and Empowerment, two Members of Parliament namely Shri Kodikunnil Suresh and Shri V. Muraleedharan and other Senior Government Officials. The Vice President was accorded a high level ceremonial welcome on arrival. During the visit, he called-on the President His Excellency Dr. Mokgweetsi Eric KeabetsweMasisi and held bilateral talks with Vice President His HonourTsogwane. The Botswana delegation at the bilateral talks comprised, Hon. NgakaNgaka Minister of Tertiary Education, Research, Science and Technology,Hon. Machana R. ShamukuniActing Minister of International Affairs and Cooperation, Hon. Moiseraele M. Goya Assistant Minister of Investment, Trade and Industry,Hon Biggie G. Butale Acting Ministry of Health and Wellness and Senior Government officials. The Honourable Vice President of India's programmeincluded official inauguration of 13th Botswana Global Expo and key note address at the opening of 13th Botswana Global Expo 2018, interaction with the Indian community, keynote address at the CEO Roundtable and tour of Diamond Trading Centre (DTCB). During the Bilateral Talks, the two leaders acknowledged the historical, friendly and warm relations between the two countries and held extensive discussions on bilateral, multilateral and issues of mutual interest. They also reiterated their common desire to further strengthen economic, commercial, technical, educational and cultural cooperation between the two countries. His Honour Vice President Tsogwane appreciated the India's vision of Africa and developmental cooperation with the continent which covers wide range of sectors, including health, infrastructure development, capacity building, defence, mining, agriculture, trade, ICT and energy etc. He also thanked Vice President for the Indian Government's continued partnership with Botswana. While acknowledging India's experience and expertise in Defence sector, His Honour Mr. Tsogwane, Vice President of the Republic of Botswana, warmly recalled long-standing defence cooperation and India's contribution towards capacity building of Botswana Defense Forces. He also expressed desire to explore further cooperation in this area. The two leaders resolvedto have regular and mutual exchanges of high-level visits and agreed to continue to explore new avenues for further intensifying mutual engagement and thus, strengthening bilateral relations. The Vice President, Shri Naidu, officially inaugurated the Global Expo Botswana on 31st October, 2018. In the Expo, 25 Indian companies and business houses covering a range of sectors such as engineering and machinery, IT, manufacturing, trade, spinning and textile machinery etc. are participating, making it the largest-ever Indian participation in the Expo. Both the Leaders discussed and agreed to deepen cooperation at the United Nations and other multilateral fora in order to address current global challenges of climate change, peace, security and sustainable development, etc. The two Leaders emphasized on the need for urgent reforms of the UN Security Council, including its expansion in both the categories of membership, to make it more representative, accountable, effective and responsive to the geo-political realities of the 21st Century. Both the leaders discussed the menace of terrorism and agreed that determined and credible steps must be taken to eradicate it. They also unequivocally condemned terrorism in all its forms and manifestations and stressed the importance of international efforts to prevent and fight the scourge of terrorism. During the visit, both the Leaders witnessed the signing of the Agreement on the Exemption of Visa Requirement for Holders of Diplomatic Passports. Hon'ble Shri Naidu noted with satisfaction that the Indian Community in Botswana who have been living for several generations have integrated well into Botswana and contributed towards its development. Acknowledging the potential of the India-Africa Diamond Institute initiative to contribute to skills development in the diamond industry in Africa,both sides expressed desired to expedite the processes for the establishment of the Institute in Botswana. The Vice Presidents further expressed a shared vision that the International Solar Alliance (ISA), is a sound framework for building and enhancing capacity of solar rich countries to develop solar technologies. To that end, India welcomed Botswana's confirmation to join the International Solar Alliance and that Botswana will sign and accede to the Framework Agreement. Hon'ble Shri M. Venkaiah Naidu, Vice President of the Republic of India, expressed gratitude to His Honour Mr. Slumber Tsogwane, Vice President of the Republic of Botswana, for the warm welcome and hospitality accorded to him and his delegation. PreOrder The New Huawei Y9 2019 and Be Part of Our Top 9 fans to get Special Invitation to the Official Launch. #phonepapafie #emberfever #huaweiy92019 NSE suspends the shares trading of Unity Bank, 5 others https://www.tribuneonlineng.com/171652/ Press Release DSDP: #NNPC, #BP Sign PMS Supply Agreement …As Baru Expresses Commitment to Sustain Products Availability As part of measures to sustain the robust supply of petroleum products across the country and especially going into the Yuletide period and beyond, the Nigerian National Petroleum Corporation (NNPC) has signed a six-month Direct Sale-Direct Purchase (DSDP) agreement with the British Petroleum's (BP) trading arm, BP Oil International Ltd, for the supply of Premium Motor Spirit, also known as petrol. This latest agreement will represent 20% of NNPC's total PMS supply under the DSDP arrangement, which basically allows the corporation to exchange crude oil with international oil traders for imported petroleum products over a period of time. Speaking shortly after a brief signing ceremony at the NNPC Towers yesterday, the Group Managing Director of the corporation, Dr. Maikanti Baru, said as the nation's products supplier of last resort, NNPC was committed to products availability by inviting new and old players to play in the Nigerian oil sector. He said over the years, BP had demonstrated the capacity and robustness to augment the forecasted shortfall by NNPC, especially as the winter period approaches and as the nation's elections get underway early into the New Year. "As a reliable supplier, we think BP is a brand that we can always partner with. We trust the company and we have a good relationship with it. We also believe in the company's commitment towards the development of local content," Baru stated. The NNPC helmsman also commended BP for choosing to partner with AYM Shafa, a local oil company, which he said had been expanding its downstream footprints across the nook and cranny of the country. "BP's partnership with AYM Shafa towards delivering on its DSDP obligations makes it a perfect fit for our plans to ensure that there is adequate supply of products throughout the coming Yuletide and even beyond the election period. In AYM Shafa, you are talking of a local company with over 150 retail outlets, depots as well as a good network of trucks nationwide," Baru added. Responding, Mr. John Goodridge, the Head of Marketing & Origination of BP's oil trading business, said it was a great honour for his company to be trusted by the NNPC as one of its strategic suppliers. "We are delighted to have the opportunity to work more closely with the NNPC. Going forward, we hope to grow this mutual relationship to greater things," Goodridge added. He further assured that his company boasts of a global network of refineries capable of generating the products to meet the specifications required by the NNPC. He said the ultimate was to ensure that over the next six months, Nigeria does not witness any products shortages. Introduced in 2016, the DSDP arrangement is a model carried out through direct sales of crude oil to refiners or consultants, who in turn supply NNPC with equivalent worth of products. Since its inception, the DSDP model has not only saved NNPC millions of dollars that would have been paid through demurrage, it has also proven to be a major component of the corporation's petroleum products supply portfolio which ensures stability in products supply nationwide. NDU UGHAMADU Group General Manager Group Public Affairs Division NNPC, Abuja. 1st November, 2018. Behind the scenes at our recent video shoot with Trading Heroes For Ghosts. #TBT Remember sitting on the floor after Trick or Treating, going thru all the candy, comparing what you got with your siblings and trading? Candy Brawl 2018 Today time spend my Shop Talukder trading me & mishu The Financial Times' Robin Wigglesworth assesses the contributors to the October selloff in markets, volatility, the pain trades, and how various hedge fund strategies fared. https://www.ft.com/content/d6386460-dc5b-11e8-9f04-38d397e6661c Financial Times #stocks #trading #hedgefunds #investing #investors #markets #volatility #hedgefund #stockmarket #equities #fixedincome #hedging #financeandeconomy #technology #finance #FT
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