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
International Scamming Network: Israel Awaits German Extradition Request
Two weeks after Europol’s announcement of the arrest of five suspects for running a massive international scam network, Israel has completed the investigation in its territory and is awaiting an official request from Germany to extradite suspects. The network’s ‘headquarters’ was based in Israel and the ‘executive arm’ was based in Romania and Bulgaria. The scam so far cost at […]
USD/JPY Loses Altitude and Sinks to Support, AUD/USD Defies Ironclad Resistance
USD/JPY plunges on Thursday, falling toward an important region of technical support. Meanwhile, AUD/USD charges higher and defies cluster resistance, but subdued market sentiment limits its advance. Read More
Apple Gains After Earnings Beat, Carrying Nasdaq 100 Futures Higher
Apple’s financial results beat expectations, with both EPS and revenue clocking in above estimates. Shares of the tech company rally after the earnings announcement. Read More
Gold Prices Rise as Markets Focus on Fed Rate Cut Bets and Regional Bank Woes
Gold prices aimed slightly higher on Thursday as Fed easing bets and regional bank woes continued to drive market sentiment. Bearish technical patterns are brewing for XAU/USD, however. Read More
Japanese Yen Toys with the Market as Ranges Break then Retreats. Where to for USD/JPY?
The Japanese Yen sunk and then sailed north against the US Dollar this week as markets contemplate the Fed’s action against the Bank of Japan’s non-action. Is the trend intact for USD/JPY? Read More
IronFX UK Sees 2022 Profit Rise despite Fall in Revenue
Notesco UK Limited, which operates the brokerage brand IronFX in the United Kingdom, published its annual financials for 2023, showing a correction in the revenue at $643,795. The figure dropped by more than 25 percent from the previous year’s $863,071 when the firm doubled its revenue. Profit of IronFX UK Climbs The company ended the year with a pre-tax profit […]