British Pound Latest: GBP/USD Bid on FOMC Outlook, EUR/GBP Eyes the ECB
The Federal Reserve raised rates by 25 basis points as expected yesterday but the US hiking cycle may well be over. Next up the ECB. Read More
News Nuggets | 4 May: FCA on Whistleblower; Equinix’s Q1 Results
HFM Hires Markets.com’s Yaqub Tale as Country Head in KenyaHFM, a retail forex and CFDs brokerage that recently rebranded from HotForex, has appointed Yaqub Tale as its Head of Country in Kenya. Tale until the appointment was a Regional Business Consultant for East Africa at online trading provider, Markets.com, for nearly two years.Tale, who brings about five years of trading […]
Gold (XAU/USD) Giving Back Post-FOMC Record Gains But The Future Seems Bright
A dovish interpretation of Jerome Powell’s FOMC statement on Wednesday sent gold spiking to a fresh all-time high before the precious metal retraced most of the move. Read More
Vantage Gains Regulatory License in South Africa
Vantage, previously known as Vantage Markets, has established its presence in Africa by obtaining a derivatives license from South Africa’s Financial Sector Conduct Authority (FSCA). New License for Vantage According to the press release shared with Finance Magnates, the new license will allow the forex and contracts for differences (CFDs) broker to offer its services in South Africa, onboarding local […]
ECB Delivers 25bps Hike Leaving the Door Open for Further Hikes, EUR/USD Slides
ECB hikes rates by 25bps while pledging that future decisions will make rates sufficiently restrictive. EURUSD heading toward the 1.1000 level Read More
CFI Financial Sees Record Growth in Volume, New Accounts in Q1
CFI Financial saw “impressive growth across all key metrics” during the first quarter of 2023, the multi-asset broker said on Thursday in its financial metrics shared with Finance Magnates. The broker said it generated “record trading volumes, new accounts and active clients.”CFI Financial Grows Key MetricsAccording to the report, CFI Financial’s trading volumes jumped 57% during the first three months […]
USD/CAD Price Forecast: Loonie Bid on Upbeat Canadian Balance of Trade Data
CAD is gaining ground on the US dollar but high impact economic data tomorrow will be in focus possibly resulting in a bull pennant break on USD/CAD daily chart. Read More
BGC Partners Sees Marginal Increase in FX Revenue in Q1
BGC Partners, a major financial technology and brokerage firm, released its first quarter 2023 metrics on Wednesday, reporting a marginal increase in its consolidated revenue from forex trading. The revenue rose 0.2% to $80.2 million (or 1% in constant currency), compared to the first quarter of 2022. FX Generates Smallest Revenue GrowthThe revenue boost was the least among all asset […]
The Use of Offshore Tax Havens for Investments and Tax Avoidance
For many years, people have exploited offshore tax havens as a strategy to avoid paying taxes on their income and assets. These havens are nations or territories with minimal or no regulation, low tax rates, and stringent banking secrecy rules. Although it is legal to use offshore tax havens, the practice has generated debate because many people question the morality […]
Crude Oil (WTI) Update: Intra-day Pullback Attempts to Halt Panic Selling
Oil markets attempt to recover after a massive two day sell-off. Re-emerging banking fears, higher US interest rates and a deteriorating global outlook weigh on oil Read More