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Crude oil’s decline causes Canadian Dollar’s winning streak to snap
5.12.2023
Crude Oil prices are down, and the Canadian Dollar – CAD – is taking a huge blow on its face. The WTI Crude Oil has slipped below $74 per barrel. While Canada experienced a bump in Housing Starts in October, the market sentiments are down with the US Initial Jobless Claims....
PCE inflation report sparks Dollar decline: US currency nears 3-month low
5.12.2023
PCE, an acronym for Personal Consumption Expenditure, is ideal for the Federal Reserve to measure inflation. It helps them track how US citizens spend money on goods and services. A stronger PCE report reflects positively on the USD, and a weaker report means that the US Dollar is not necessarily...
Bangladesh’s savings update: Forex reserves fall to $15.82 billion
5.12.2023
Bangladesh foreign exchange reserves 2023 have been declining with net reserves currently at $15.82. Bangladesh forex reserves were at $48 billion in August 2021, recording the highest foreign exchange or simply forex is the act of trading currencies. Forex traders speculate on the price movements...
FP Markets hits hat-trick for second time at Global Forex Awards
5.12.2023
With victories in three major categories—”Best Value Broker – Global,” “Best Broker – Europe,” and “Best Partners Programme – Asia”—FP Markets has pulled off an incredible hat-trick at the 2023 Global Forex Awards. FP Markets is a renowned broker of Forex...
How to utilize RBA minutes for forex trading in 2023
5.12.2023
A country’s economic health is the basic foundation on which a civilized society is developed. It involves a complex architecture supported by consumption, employment, and production pillars. Like any living organism, the economy circulates the financial lifeline of a society through...
Samsung at 1st: Forex.com’s top 10 most innovative companies
5.12.2023
Samsung, an award-winning global forex broker, was recently announced as the world’s most innovative company by India Forbes Magazine after it registered the highest patent number. Forex.com has published a report to grade companies based on the number of registered patents they have secured...
Retail broker Saxo Bank profitability rose in 2023
5.12.2023
Saxo Bank Group, Saxo Hong Kong’s parent company, recently released its financial results for H1 2023, projecting a spectacular performance amidst an otherwise challenging market scenario. Saxo Bank Group reported a profitability increase of $75 million, marking a considerable increase of around...
South African Govt. enforces fresh taxes on online forex brokers: National Treasury updates
5.12.2023
The government has decided to levy a fresh tax on online forex brokers. The aim is to align the initiative of increasing revenue for the public good. New forex tax rules outline that platforms providing forex services to their customers will have to shed a few more dollars on their gross revenue....
Wingo Markets introduces new tools for forex brokers provides an entire toolkit
5.12.2023
Wingo Markets is a leading forex trading and broker platform that recently launched a wide range of trading instruments and new features. With this, Wingo Markets has achieved one of the biggest milestones, bringing the total number of forex trading instruments on the platform to more than 1,000....
China shuffles financial leadership, appoints new chief for foreign exchange
5.12.2023
China, a decisive country in today’s international economy, plans to introduce fresh leadership in its financial sector. The top Chinese banker, Zhu Hexin, head of the CITIC group, who has become a household name, has been announced as the New Forex Chief of the country’s currency...
Byju’s faces action: ED sends notice over Rs 9000 Cr forex rule breach
5.12.2023
The largest ed-tech company in India, BYJU’S, which has created one of the best and the most widely used school learning apps, was launched in 2015 to offer highly effective and personalized learning programs for schoolgoers as well as competitive exam aspirants. BYJU’S has over 50 million...
Did Odisha Government Earn ₹6,500 Crore In Forex Profit From Software Exports?
4.12.2023
Odisha and foreign exchange worth Rs. 6500 crore from the software export industry in FY 2022-23. Odisha recorded around 22% growth from software exports in 2012-13, reaching a value of Rs. 1970 crore. This year, the state has reached another financial milestone by reaching another peak, thanks...
Online forex brokers to pay 3% annual fee to regulatory authority
4.12.2023
There is a slight shift in the segment of online forex trading, with authorities jumping in to impose better protections and revenue streams. While protections are for customers, revenue streams majorly pertain to their interest, which is expected to be passed on to the community. For online forex...
German and US consumer confidence: Latest insights
4.12.2023
Consumer confidence and sentiment are important economic indicators for the foreign exchange market. The consumer confidence index (CCI), conducted every month, determines consumer sentiment by measuring spending plans for large purchases such as cars and real estate. This indicator evaluates...
Asian Currencies Dip, Dollar Holds Steady Ahead of Busy Economic Data Period
4.12.2023
Several variables came together on Thursday to create uncertainty in the foreign exchange market, which led to the recent decline in Asian currencies. Significantly, the U.S. dollar’s rebound, propelled by better-than-expected retail sales figures, was a significant factor in the depreciation...
Deciphering the impact of ECB decisions and US Treasury Yields on Forex market movements
1.12.2023
A major influence on the Eurozone’s economic climate lies with the European Central Bank (ECB), as it keeps prices stable and encourages economic growth. The ECB’s decisions on interest rates, economic projections, and forward guidance are keenly monitored by forex traders. In addition...
The Rupee sees a modest gain against the USD in early trade
30.11.2023
The Indian Rupee (₹) and the US Dollar ($) have been trading in a familiar territory for almost a month. The range is ₹81-₹84. The INR is currently at ₹83.30 for every US Dollar. However, the currency has been reported to have made some modest gains against the US counterpart in early trade. ...
CTO report unveils unbelievable comeback of Yen bulls, Surprising Dollar bets boost EUR/USD in a remarkable reversal
30.11.2023
The latest CTO study revealed formerly unseen market insights, revealing a stunning change in the mechanics of currency trading. Contrary to popular belief, Yen Bulls unexpectedly emerged as the front-runners. These unexpected dollar bets changed market sentiment, and the EUR/USD trading...
Former shipping captain loses Rs 37 lakh in Forex scam
30.11.2023
A former shipping captain was recently defrauded of Rs. 37 lakh through a fake forex trading app. The accused, Satish Gupta, was arrested by the Western Regional Cyber Police for duping the company captain. The cyber police traced Rs. 27 lakhs of the lost money and arrested two more suspects...
India’s Forex Reserves hit $595B, exceeding 11-week peak!
30.11.2023
Foreign exchange India has broken the record once again with its significant achievement of exceeding an 11-week peak, settling forex reserves at $595 billion. In this article, we will discuss the economy’s record-breaking achievement and its economic implications, the future Outlook of...