MANUFACTURERS' FOREX LOSSES INCREASE BY 566% TO N792 BILLION.
Examining the performance of major domestic and international companies operating in the country for the fiscal year that ended in December 2023 reveals that the depreciation of the naira caused by the monetary policy reform resulted in a total loss of N792 billion in forex.
GOLD PRICES RISE AS THE FED MAINTAINS ITS CONFIDENCE IN REDUCING INFLATION.
As the US dollar corrects, the gold price (XAU/USD) increased during the European session on Tuesday, breaking through a two-day high above $2,190. The US dollar is facing pressure to weaken because Federal Reserve (Fed) policymakers seem to be growing more confident about easing price pressure, despite robust inflation statistics in January and February. This year, three interest rate reductions are projected.
RBI’s Monetary Policy- 2024
On April 5, 2024, the Governor of the Reserve Bank of India (RBI) declared the first monetary policy for the fiscal year 2024–25. The major elements of monetary policy are as follows:
Keep Blowing Trading Accounts? Read This Now!
In the tumultuous world of forex and crypto trading, where the allure of quick profits often leads to repeated blows to trading accounts, aspiring traders must heed the crucial lesson of prioritizing risk management over the search for shortcuts to success.
Admirals Halts European Client Onboarding
Admirals, a leading FX brokerage firm, has recently announced a temporary halt on new client registrations across Europe. This pause, disclosed through a statement on the company's official website, comes as a response to compliance adjustments advised by the CySEC regulator.
Coinbase Conquers Canada | Secures Top Spot in Crypto Market
Coinbase, the leading cryptocurrency exchange in the U.S., has recently achieved "restricted dealer" status in Canada, consolidating its position as a dominant player in the nation's crypto market. This milestone not only enables Coinbase to operate within Canada's regulatory framework but also establishes it as the largest registered crypto exchange in the country, endorsed by the Ontario Securities Commission (OSC).
SEC Targets 4 Long Island Traders in $2 Million Fraud Scandal
The Securities and Exchange Commission sets its sights on a group of Long Island traders, accusing them of orchestrating a multi-million-dollar fraud scheme, unravelling a web of deception in the world of securities trading.
Philippines SEC Issues Warning Against eToro for Unlicensed Trading
The PH SEC warns against eToro for unlicensed trading, underlining a broader crackdown on unregulated financial platforms like Binance.
Binance Ends Support for Bitcoin NFTs
Binance ceases support for Bitcoin NFTs, marking a strategic pivot within the crypto industry. The move, signaling a shift in digital asset dynamics, impacts users and the NFT ecosystem.
FCA exposed one more firm
UK’s FCA exposed one more firm on 04 April 2024. Financial Conduct Authority, said TNFL FX is an unregulated broker. This firm is not authorised by the authority and may be targeting people in the UK.
How Do You Analyze the Forex Market?
Delve into the intricate world of Forex market analysis with our informative guide, detailing the crucial aspects of technical and fundamental analysis, vital indicators, and the strategies for interpreting and navigating currency value fluctuations effectively for informed trading decisions.
FOREX TODAY: AHEAD OF US DATA ANNOUNCEMENTS, MARKETS ARE STILL ERRATIC.
Early on Tuesday, major currency pairings move in very narrow ranges as traders avoid putting on big bets before US macroeconomic data is released. The Conference Board will release the Consumer Confidence report, while the American session's economic docket will include the February Durable Goods Orders and the January Housing Price Index. Additionally, market participants will continue to closely monitor any remarks made by representatives of the central bank.
FOREX TODAY: US DOLLAR CONTINUES TO RISE AHEAD OF SIGNIFICANT FED SPEECH
The US dollar after a selloff late in the day. The US Dollar (USD) Index regained nearly 0.5% of its post-Fed decline on Thursday. As of Friday morning, the USD Index is still rising early; it was last seen trading above 104.00, which is the highest level it has reached. Later in the day, Jerome Powell, the Chairman of the Federal Reserve, will launch the Fed, policymakers have scheduled speeches for before the weekend.
Forex4you Renames as Markets4you
Forex4you, a well-known online forex trading platform, has recently undergone a rebranding process and is now known as Markets4you.
Bitkub Capital Group Holdings Announces Plans to Go Public
Explore Bitkub Capital Group Holdings' strategic move to go public, aiming to enhance its position in the global fintech and cryptocurrency markets. With plans to list on the Stock Exchange of Thailand, Bitkub, Thailand's leading crypto exchange, prepares for a significant IPO amid growing market competition and aims to bolster its market dominance and shareholder value.
FMA warns against NZX Wealth Investments
New Zealand’s Financial Markets Authority (FMA) warns against NZX Wealth Investments and its website nzxwealth.com. According to FMA, the website guarantees investment returns which appear to be unrealistically high. It is not authorised by, nor associated with the New Zealand company, NZX Wealth Technologies Limited.
FlexTrade Unveils Mottai Trader in Collaboration with FP Markets
FlexTrade has introduced a new trading platform in Australia in partnership with FP Markets, named Mottai Trader.
How to Pick Your Trading Instrument
Choosing the right trading instrument is crucial for success in the dynamic world of forex and cryptocurrency trading. With a myriad of options available, from currency pairs to cryptocurrencies, it can be overwhelming for traders to make the best choice. In this article, we will discuss key factors to consider when selecting your trading instrument, empowering you to make informed decisions and maximize your trading potential.
How to Identity a Forex/Crypto Ponzi Scheme
Amid the vast opportunities of online trading, lurk hidden risks such as Ponzi schemes, deceptive practices promising high returns but often leading to financial ruin; as traders in the forex and cryptocurrency trading industry, it's imperative to remain vigilant and equipped with knowledge to identify and avoid such schemes.
Cobra Trading Fined $200,000 for Misleading Influencer Marketing Practices
Cobra Trading was fined $200K by FINRA for using influencers to misleadingly promote its services, violating regulatory rules on balanced information.
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