The U.S. dollar edged lower on Thursday as markets considered whether the Federal Reserve might slow or even pause its tightening cycle in the second half of the year, which would weaken the allure of the safehaven currency. The dollar index, which measures the greenback against a basket of […]
Business Forex
Rising risk of Sri Lankan banks defaulting on their obligations: S&P
There is a rising risk of Sri Lankan banks defaulting on their obligations, especially those in foreign currency, including deposits and trade finance products, rating agency Standard & Poor’s said on Friday. This trend is expected to persist until the sovereign’s external situation stabilises, which may take […]
10 African countries with the largest foreign exchange reserves
Just yesterday, President Yoweri Museveni of Uganda stressed that his government cannot afford to subsidise imports of essential foods and commodities, because doing so would be disastrous to his country’s paltry $4.5 billion foreign reserves. Other African countries have also taken steps to protect their foreign exchange reserves. In a […]
Pakistan forex reserves plunge to lowest level since Dec 2019: Report
Cash-strapped Pakistan’s foreign exchange reserves have dropped to their lowest level since December 2019, owing to an increase in current account and trade deficits, higher external debt payments and dried dollar inflows, according to a media report on Friday. As per data from Pakistan’s central […]
Two firms get online forex trade licence
Market News Two firms get online forex trade licence Thursday May 12 2022 Capital Markets Authority (CMA) CEO Wyckliffe Shamiah. FILE PHOTO | NMG By Edna MwendaMore by this Author Summary Two foreign exchange service providers Tadenex Limited and Tradesense Limited have been licensed by the Capital Markets Authority. Tradesense […]
US business inventories for March 2 .0% vs. 1.9% estimate
US business inventories for March 2022 Prior report 1.5% revised to 1.8% US business inventories for March 2022 2.0% vs 1.9% estimate March inventories t$2324,2 billion vs. $2279.5 billion in February (revised) Business inventories are up 14.7% from March 2021 manufacturing inventories were up 1.3%, retail inventories were up 2.3%, […]
FOREX-Dollar slips as risk appetite returns
The dollar fell for a third straight day on Tuesday, pulling back from a two-decade high against a basket of major peers, as an uptick in investors’ appetite for riskier bets diminished the U.S. currency’s appeal. Upbeat earnings views from Home Depot and United Airlines along with optimism around the […]
FOREX-Dollar rebounds after Fed’s Powell reaffirms hawkish outlook
The U.S. dollar bounced back on Wednesday, a day after its biggest daily loss in more than two months, as U.S. Federal Reserve chief Jerome Powell struck a more hawkish tone as the central bank battles to rein in surging inflation. Powell pledged that the U.S. central bank would […]
FOREX-Euro and sterling helped by improved market sentiment
Overnight surges left the euro and pound sitting pretty in early Asia helped by good U.K. jobs data and a general improvement in investor sentiment on solid U.S. retail sales and hopes of easing lockdowns in China. The European common currency touched $1.0563 in early Asia trade, after rising 1.1% […]
How a Small Business Owner Can Invest in Forex
Elevate your small business by increasing your available capital through our guide on how business owners can invest in the forex market. Most people who are building a retirement nest egg or hoping to make a big purchase may want to grow their savings through investment. Forex is very useful […]