Karachi Stock Exchange KSE

Vision
To be a leading financial institution, offering efficient, fair and transparent securities market in the region and enjoying full confidence of the investors.
KSE POSITIONED TO BE A HUB OF CAPITAL FORMATION IN THE REGION
	Chairman South Asian Federation of Exchanges (SAFE)
	Vice Chairmanship of the South Asian Federation of Exchanges (SAFE) - 2008
	Member Federation of Euro-Asian Exchanges (FEAS)
	Affiliate Member of the World Federation of Exchanges (WFE)
	Affiliate Member of International Organization of Securities Commissions (IOSCO)
	Agreements with other Exchanges
		Dubai Financial Market
		Abu Dhabi Securities Market
		Shanghai Stock Exchange

What is the DailyFX Volatility Index:

The DailyFX Volatility Index measures the general level of volatility in the currency market. The index is a composite of the implied volatility in options underlying a basket of currencies. Our basket is equally weighed and composed of some of the most liquid currency pairs in the Foreign exchange market.

In reading this graph, whenever the DailyFX Volatility Index rises, it suggests traders expect the currency market to be more active in the coming days and weeks. Since carry trades underperform when volatility is high (due to the threat of capital losses that may overwhelm carry income), a rise in volatility is unfavorable for the strategy.

Dollar Makes a Critical Bearish Break but Risk Appetite Provides Little Follow Through

The sharp rally that opened this week seemed to confirm that the next wave of a five-month bull trend was underway. However, this optimistic outlook was immediately deflated when momentum failed support the transition. What is the source of this hesitation? Fundamentals.

US Non-Farm Payrolls (NFPs) to Serve as Gauge of US Dollar Link to Risk Trends

The US dollar has come under pressure recently as increasing risk appetite drove up demand for higher-yielding currencies and equities. However, the July reading of NFPs is projected to show that the pace of job losses slowed, and the last time we saw a dramatic improvement, the US dollar ignored risk trends and rallied in response. Will we see a similar reaction on Friday?

Trade this news report live with DailyFX Currency Strategist John Kicklighter tomorrow morning


Arguments for an Improvement in Non-Farm Payrolls
1. Initial jobless claims (4-week avg) fell to a 27-week low of 555,250 during the week ending 8/1
2. Continuing claims (4-week avg) eased to 6,278,750 during the week ending 7/25, from 6,769,000 in the week ending 6/27
3. ADP employment fell by the least since October 2008, coming in at -371,000 in July
4. Challenger job cuts fell 5.7 percent in July from a year earlier, marking the second straight decline
5. ISM manufacturing employment component rose to 45.6 from 40.7, signaling that the pace of job losses slowed

Arguments for a Deterioration in Non-Farm Payrolls
1. Conference Board, University of Michigan consumer confidence both fell during July to 3 and 4-month lows, respectively
2. ISM non-manufacturing employment component fell to 41.5 from 43.4, signaling a steeper drop in jobs

GBP Tanks on BoE, Mkt Eyes NFP by Korman Tam

The dollar rallied sharply against the sterling, advancing by over 270-pips to 1.6759 while pushing the euro lower to 1.4336. Weekly jobless claims improved by more than expected, falling to 550k and larger than the expected drop to 580k from 584k a week earlier.

Traders will closely scrutinize tomorrow’s July labor report, due out at 8:30 AM. The unemployment rate is seen edging up to its highest level in over 20-years at 9.7%. Meanwhile, the non-farm payrolls reading is expected to improve sharply, posting a loss of 320k jobs, versus 467k jobs lost in June.

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