Saturday, February 17, 2018

Tag "FXTM"

    World Bank: Cryptocurrencies are basically Ponzi schemes

World Bank: Cryptocurrencies are basically Ponzi schemes

Jim Yong Kim, World Bank president, says cryptocurrencies are like Ponzi schemes.Kim joined other experts who have warned against investing in it.In recent times, Bitcoin, a type of cryptocurrency, has become popular across the world."In terms of using Bitcoin or some of the cryptocurrencies, we are also looking at it, but I’m told the vast majority of cryptocurrencies are basically [...]

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    Central Bank of Nigeria steals the spotlight in January

Central Bank of Nigeria steals the spotlight in January

Investor sentiment towards the Nigerian economy was dealt a slight blow, after the MPC cancelled the January meeting due to their “inability to form a quorum”.Although the missed central bank meeting is likely to have little impact on the economy, it has the potential to reinforce market concerns over the nation’s poor policy management. An unwelcome return of political risk and uncertainty amid [...]

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    Bitcoin hammered by crackdown fears

Bitcoin hammered by crackdown fears

Bitcoin was the talk across financial markets for all the wrong reasons on Tuesday after prices tumbled sharply to their weakest level since early December at $11,192. Market jitters over South Korea potentially banning cryptocurrency trading has effectively eroded investor appetite for Bitcoin. With reports on a renewed crackdown on the cryptocurrency in China fueling anxiety over future restrictions, further losses could be [...]

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    Global stocks mixed as holiday mood kicks in

Global stocks mixed as holiday mood kicks in

Global equity markets struggled for direction during Wednesday’s trading session, with investors on the fence as activity continued to decelerate ahead of the upcoming Christmas holiday break. Asian shares concluded on a mixed note on Wednesday as anticipation mounted ahead of a final vote on the US tax bill. In Europe, shares were lacklustre amid the limited appetite for risk and this could trickle back into [...]

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    BoE keeps rates unchanged

BoE keeps rates unchanged

Sterling offered a fairly muted response during Thursday’s trading session after Bank of England policy makers unanimously voted to leave interest rates unchanged at 0.5% in December. Although inflation in the United Kingdom has jumped to its highest level in almost six years, it seems that the growing uncertainty over Brexit is likely to encourage the central bank to adopt a wait and [...]

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    From farming to forex, how technology has changed the face of investing

From farming to forex, how technology has changed the face of investing

BY NIKOLA GROZDANOVIC Not too long ago, when an individual wanted to save or invest money, they were limited to a handful of options. In the early days of our ancestors, farming and land underpinned wealth and a bank account was considered a luxury. Even after industrialization took hold, we were still fairly limited; with most individuals opting to invest in [...]

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    Global stocks under pressure; Bitcoin hits another record

Global stocks under pressure; Bitcoin hits another record

Global equity bulls were nowhere to be found during Tuesday’s trading session as market players evaluated the possible impact of proposed US tax cuts. World stocks were mostly lower amid a global technology selloff, with the lack of appetite for riskier assets punishing European shares and Wall Street.  Asian markets stumbled lower during early trading on Wednesday, following Wall Street’s overnight decline. With the [...]

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    INTERVIEW: Nigeria has borrowed enough, says FXTM researcher

INTERVIEW: Nigeria has borrowed enough, says FXTM researcher

Lukman Otunuga, a research analyst at FXTM, says Nigeria has borrowed enough in recent times and could miss the opportunity to bounce back if borrowed funds are not well utilised.The federal government through the Debt Management Office has issued various debt instruments like the Sukuk, Eurobond, savings bond and plans to float a Green bond in December.In an interview with [...]

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    Heavy hitters give Nigeria the thumbs up

Heavy hitters give Nigeria the thumbs up

October was certainly another positive month for the largest economy in Africa, which has yet again showcased its brawn and resilience on the global stage.Annual inflation eased for the eighth straight month, while encouraging core economic metrics pointed to further signs of economic stability. Rising global oil prices and recovering domestic oil production has positively impacted government revenues and [...]

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    Nigeria strides into Q4

Nigeria strides into Q4

Nigeria displayed its resilience in the global arena on repeated occasions this year, by confronting a currency crisis, navigating depressed oil prices and rebounding from an economic deceleration.With the nation currently in the process of recovering from its worst slump in 25 years, despite the headwinds created from both external and internal risk, the overall outlook remains highly encouraging.Annual [...]

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    Gold struggles to shine as dollar firms

Gold struggles to shine as dollar firms

Gold struggled to hold onto its shine on Tuesday, as the risk-on mood encouraged investors to seek riskier assets, such as equities.The yellow metal dipped to a seven-week low below $1270 during early trading, and it looks like further punishment is in store, as firming US rate hike expectations buoy the US dollar.With prices securing a solid monthly close below the [...]

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    Oil hits 7-week high as Nigeria agrees to cap output at 1.8mbd

Oil hits 7-week high as Nigeria agrees to cap output at 1.8mbd

Brent crude prices jump by over $2 on Tuesday following Nigeria's agreement with the Organsation of Petroleum Exporting Countries (OPEC) to cap output at 1.8 million barrels per day.Brent, the international benchmark for crude oil was trading at $50.71 late Tuesday, after gaining about $2.11 -- the biggest daily leap in 2017.West Texas Intermediate (WTI) also gained nearly five percent [...]

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    After F1 deal, FXTM annouces sponsorship of IndyCar driver

After F1 deal, FXTM annouces sponsorship of IndyCar driver

FXTM, Global award-winning forex broker, has announced its sponsorship of Rookie IndyCar driver Ed Jones.This deal follows hot on the heels of the brand’s F1™ partnership with Sahara Force India, and will see the broker take a prominent role in two of the three most iconic motorsport events of the season.When the Sahara Force India F1™ Team’s car hit [...]

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    NSE ‘becoming a champion’ among emerging markets

NSE ‘becoming a champion’ among emerging markets

Lukman Otunnuga, research analyst at FXTM, says the Nigerian Stock Exchange (NSE) is becoming a champion among emerging markets across the world.Speaking on the recovery in the Nigerian economy and the stock market, Otunuga said the outlook for the Nigerian economy is quite encouraging."The improving sentiment towards the Nigerian economy boosted further on Tuesday following reports of the nation’s inflation [...]

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    Disappointing retail sales pressures Sterling

Disappointing retail sales pressures Sterling

Sterling attracted a school of sellers during early trading on Friday, following the disappointing 1.8% decline in UK retail sales in March that rekindled fears of Brexit impacting the UK economy.UK retail sales posted their largest quarterly fall in seven years in the first quarter of 2017, as accelerating prices and a Brexit-fueled Sterling selloff pressured consumers. With wage growth [...]

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    WTI crude gripped by oversupply fears

WTI crude gripped by oversupply fears

WTI crude was exposed to sharp losses on Wednesday, with prices tumbling towards $50 after an unexpected weekly climb in US gasoline supplies compounded with existing oversupply fears.Although some losses were clawed back during early trading on Thursday as investors attempted to look beyond the oversupply dilemma and focus on the slight drop in US crude inventories, the bias remains [...]

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Exchange Rates

Feb 16, 2018USDGBPEUR
INTERBANK360.45487.18428.32
LAGOS364497448
KANO364495430
PH363498435
ABUJA365497434
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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