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FOREX-Dollar Holding Firm; Yen Dips Further on LDP Victory
1.11.2021
On Monday, the dollar witnessed good trading with a 2 1/2 -week high due to boosted inflation in the US and earlier interest rate hike by the Federal Reserve. The Japanese Yen, which is a safe haven, dropped, approaching a one-and-a-half-week high, as the governing party’s strong performance...
FXCM Investor Lawsuit to Face More Delay
29.10.2021
FXCM Inc, now called Global Brokerage Inc, is facing further delay in the lawsuit brought by investors. The plaintiffs have asked for extra preparation time to articulate responses for the summary judgment provided by the defendants. It all started in February 2017 when FXCM completed settlements...
Australian Dollar Rises While Energy Prices Keep Soaring
27.10.2021
The AUD witnessed a slight surge after the Australian CPI numbers were released recently. Q3 headline inflation arrived with 0.8% q/q versus the forecast of 0.8%. Meanwhile, the annual headline rate reached 3.0% in y/y against the expected 3.1%. The former reached 0.7% q/q instead of 0.5% with...
IMF Partly Blames Uncertainty in Nigeria’s Forex Market for Drop in Remittances
26.10.2021
The uncertainty that prevails in Nigeria’s foreign exchange market is partly to blame for the plunge in cross-border remittances into the country, an official with the International Monetary Fund (IMF) has said. Covid-19 Another Contributing Factor According to a report by local news outlet...
Dollar Stabilizes While Traders Await Central Banks Guidance
26.10.2021
Tuesday witnessed the US Dollar regaining the 1.67% it lost recently. Investors are on edge with central bank meetings, and data releases indicate new information on the rates. Meanwhile, the Euro dipped 0.3% as experts forecast the ECB’s dovish tendencies in the next meeting. As a result,...
Alleged South African Bitcoin Fraudster Makes First Court Appearance Since Arrest
26.10.2021
Sandile Shezi, the South African bitcoin trader accused of defrauding investors, recently made his first court appearance before a Johannesburg magistrate. Shezi out on Bail The bitcoin trader’s court appearance came just days after he honored his pledge to surrender himself to the police....
Pound and Euro Receive Focus on the Economic Calendar
25.10.2021
The economic calendar witnessed a quiet week as there were hardly any statistical changes in market dynamics. The price of the Aussie Dollar has increased to $0.7470, while the value of the Kiwi Dollar dropped to $0.7153. The price of the Japanese Yen fell by 0.05% against the price of the...
Dollar Declines for the Second Week Despite US Positive Data
22.10.2021
Friday witnessed the second week of decline in dollar rates in Asia, even though the US data presented a positive report. Lower than expected manufacturing statistics in the United States and rising wagers that monetary policy will be normal compared to the other nations contributed to...
Dow Jones and S & P Predicted to Rise in the Coming Days
21.10.2021
According to IG Client Sentiment (IGCS), most retail investors feel more inclined to sell off the most major and prominent stock benchmark indices of Wall Street. The two major stock benchmark indices included are Dow Jones and S & P 500. The IGCS is termed an indicator that is contrarian...
Competition and Hype Drive Young Crypto Investors, UK Watchdog Finds
21.10.2021
A sizable majority of young investors seeking high-risk opportunities are motivated by competition and hype, a new survey has indicated. They often turn to cryptocurrency and forex products, according to the poll conducted by the U.K.’s financial regulator. FCA Launches...
AUD/USD September High While APAC Traders Eye China’s Lending Rates
20.10.2021
The financial market seems to be picking up pace as the Australian Dollar surged against the USD overnight. The progress took place after Wall Street traders went back to their risk-taking stance. The development helped the DJIA (Dow Jones Industrial Average) close to 0.54% higher. After...
Fraud-Accused South African Bitcoin Trader to Turn Himself Over to Police: Report
19.10.2021
Sandile Shezi, the young South African bitcoin trader who is facing fraud charges, has denied allegations he scammed shareholders in his Global Forex Institute. Shezi: Shareholders Signed Up for Education, Not Investments Despite his rejection of the allegations, a spokesperson for...
European Markets Fall on Rising Yields Amid Surging Energy Prices
19.10.2021
The lackluster week has restricted the financial market’s growth despite the previous week spelling positive outcomes. European markets are falling on rising yields with minimal growth, losing the previous week’s optimism. In addition, traders and investors are showing concerns regarding surging...
Lanka Asks for $500M Loan From India for Fuel Purchases
18.10.2021
This occurred days after Minister of Energy Udaya Gammanpila warned that the country’s existing supply of fuel could last only till Jan 2022. The state-owned Ceylon Petroleum Corporation (CPC) owing the 2 major government banks, the Bank of Ceylon and the People’s Bank, almost USD...
Dollar Maintains Technical Boundary Amid Density and Risk Trends
15.10.2021
The latest financial session witnessed the market maintaining control due to speculative appetite. However, the benchmarks are already being pushed to resistance levels. The S&P 500 is currently the most notable benchmark with a 1.7% rally, capable of clearing the three-month range’s midpoint...
AUD/USD Points Higher Despite Mixed Employment Data
14.10.2021
The employment data for September in Australia was mixed, as the country tries to put the coronavirus pandemic behind it. Despite the fact that unemployment rose to 4.6 percent, it was still lower than the predicted estimate of 4.8 percent. The country’s workforce shrank by 138,000 people...
South Africa Police Issue Arrest Warrant for Fraud-Accused Crypto Trader
12.10.2021
Reports from South Africa say the country’s police have now issued a warrant for the arrest of Sandile Shezi, a 29-year-old cryptocurrency trader. The warrant was issued after one Allan Ledwaba, an investor with Shezi’s Global Forex Institute, accused the cryptocurrency trader...
AUD/USD May Grow After New South Wales’ Reopening as Investors Eye Energy Prices
11.10.2021
After completing a packed week, Asia-Pacific markets are ready for a positive week. The coming few days do not have much in terms of risky events, indicating an uneventful calendar. AUD/USD is a positive sign after ending the week with 0.50% growth. Since the week’s start does not offer...
CMC Markets Expecting 126 Million Pound Operational Income
8.10.2021
CMC Markets is a UK-based brokerage group founded in 1989. It offers trading instruments and betting solutions to clients. The trading can be done in forex, cryptocurrencies, shares, commodities, etc. As per 2021 CMC Market reviews, it is a well-known and established broker in the UK, listed...
Dollar Close to 14-Month High Against Euro Amid Inflation Fear
7.10.2021
The US dollar recently came close to its 14-month high against the euro after energy prices surged. The surge came amid market worries about inflation while asking the Fed to normalize the policy quickly. The currency steadied around 1.1558 dollars per euro after establishing a grip at 1.1529...