Trading Trends Today, on Manila Time · Philippines
The day's biggest market stories, each one placed on a Manila clock rather than a newsroom's.
Crude Oil
Crude Oil keeps turning up across the wires today, which is why it is on this list.
Sources: www.cnn.com · www.ctvnews.ca · www.theglobeandmail.com
Trade Crude Oil with IC Markets →Nasdaq
Nasdaq keeps turning up across the wires today, which is why it is on this list.
Sources: www.theglobeandmail.com · finance.yahoo.com · www.investors.com
Which market is actually open while you are reading this
The Philippines runs on UTC+8 for the whole year and never moves for daylight saving. That makes the Philippine end of every calculation below fixed - it is always the other side that shifts - and it puts a Manila-based trader in an unusually convenient seat for one session and an unusually awkward one for another.
Tokyo sits at UTC+9, one hour ahead of Manila. Sydney sits at UTC+10, or UTC+11 in Australian daylight saving, two or three hours ahead. The Asian session therefore runs straight through the Philippine working day: a trader in Manila is awake for the whole of it without rearranging anything. London sits at UTC+0 in winter and UTC+1 in summer, seven or eight hours behind, so Europe opens in the Philippine mid-afternoon and carries on into the evening. New York sits at UTC-5 or UTC-4, twelve or thirteen hours behind, which puts the opening of the United States session late in the Philippine evening and its busiest stretch after midnight local time.
One consequence is worth stating plainly, because it changes how this page should be read: a story datelined today on a United States wire is, for a reader in Manila, usually last night's story. The window a Philippine trader can work without losing sleep is the Asian session and the first hours of London - which is also the window in which the least of the day's American news has yet happened.
Also worth watching
US Dollar keeps turning up across the wires today, which is why it is on this list.
Sources: ca.investing.com
Gold keeps turning up across the wires today, which is why it is on this list.
Sources: www.actionforex.com
Where the broker's own servers sit
Neither of IC Markets' server locations is on Manila time either. MetaTrader 4 and MetaTrader 5 price from the Equinix NY4 data centre in New York; cTrader prices from London. Whichever of the stories below is acted on, it is the server clock that stamps the ticket, dates the candle and decides when one trading day becomes the next - so the date on an order is not necessarily the date on the phone that placed it.
What acting on one of these stories overnight costs
Conviction has a published price. A position held past the rollover on a Swap Free account is charged a flat holding fee per lot per night instead of a swap, and IC Markets publishes it per symbol: USD 62 on gold (XAUUSD), USD 41.85 on BTCUSD, USD 26 on GBPCHF, USD 25 on US30, USD 16 on GBPJPY, USD 15 on EURCHF, USD 11 on EURUSD, and USD 9 on both silver (XAGUSD) and AUDCAD.
The same headline, the same single lot and the same five nights therefore cost USD 310 to hold in gold and USD 55 in EUR/USD. The story does not change between the two; the carrying cost does, by nearly six times. Available leverage is also cut inside a Higher Margin Requirement window around a high-impact release - from 15 minutes before it until one minute after - and most of the releases that generate the headlines on this page are American ones, arriving in the Philippine late evening.
The step between a headline and a position, from the Philippines
Reading a story is instant. Funding a position to act on it is not, and the Philippines is one of the markets where that gap is widest. IC Markets holds accounts in ten base currencies - USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD and CAD - none of which is the peso, and it publishes country-specific deposit routes for two markets only, Thailand and Vietnam. A trader in Manila funds through the general international methods: bank cards, PayPal, Neteller, Skrill, UnionPay, FasaPay or a bank wire.
Timing matters more here than on any other page of this site. Cards and the e-wallets are stated as instant; a bank wire is stated at 2-5 business days. A story funded by wire can be over before the money arrives, which is an argument for having the account funded before the headline rather than after it. On the way out, withdrawal requests are cut off at 12:00 AEST or AEDT - roughly 10:00 in Manila during Australian standard months and roughly 09:00 during Australian daylight-saving months - with anything later handled on the next business day.
This page is an independent, affiliate-supported summary of publicly reported market stories, not IC Markets' own market commentary and not a recommendation to trade any of them. Prices and story counts come from the sources linked beside each item. CFD trading carries a high risk of losing money.