Today on the Tape, Read in Pakistan Standard Time
Rebuilt daily. Under each story sits the part a Karachi or Lahore screen adds and a global feed does not: the hour the move lands in PKT, and what the position costs to carry overnight on a Swap Free account.
Crude Oil
Crude runs hottest through the New York hours, which in PKT means roughly 17:00 to 02:00 while the United States is on daylight time and 18:00 to 03:00 once it is not. Pakistan holds UTC+5 all year, so the window slides under you twice a year rather than staying where you left it. Energy symbols carry their own flat overnight holding fee on a Swap Free account, published per symbol rather than per class, so read the figure for the exact contract before leaving a barrel open past the server rollover.
Sources: www.cnn.com · www.ctvnews.ca · www.theglobeandmail.com
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US index CFDs wake with the New York cash session, which for a Pakistani screen means the first hour is already past 18:00 PKT in winter and past 17:00 in summer. The published Swap Free holding fee on US30 is USD 25 per lot per night, and a weekend counts as nights too - which is the part that catches people who came for a day trade and stayed a week.
Sources: www.theglobeandmail.com · finance.yahoo.com · www.investors.com
Two more the Pakistani evening will run into
Dollar strength is not an abstraction on a Pakistani account. The balance itself is denominated in one of ten base currencies - USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD or CAD - and PKR is not among them, so every rupee funding the account has already crossed at least one exchange rate before the first order is ever placed.
Sources: ca.investing.com
Gold carries the largest published Swap Free holding fee on the entire symbol list: USD 62 per lot per night, against USD 9 for silver. One lot is 100 ounces, so three lots at an illustrative USD 4,300 an ounce lock about USD 258 of margin in the top leverage band and then cost USD 186 for every night they stay open.
Sources: www.actionforex.com