OFP Category: Forex

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Recent Blogs

What are the Six Main Currencies for Forex Trading?

The foreign exchange (forex) market is a vast and highly liquid arena where trillions of dollars are traded daily among countless participants worldwide. To navigate this market effectively, it is

GBP/USD Surges on Strong Inflation, Solidifying Expectations of June Rate Hike

The UK Consumer Price Index (CPI) remains steady at 8.7% YoY in May, while core inflation unexpectedly rises to 7.1% from 6.8%, indicating that inflationary pressures have not yet peaked.

Feasibility of a BRICS Currency: Balancing Benefits and Challenges

As the BRICS nations contemplate the introduction of a common reserve currency, concerns arise regarding its viability and the potential advantages it may offer. This article critically examines the BRICS

Nigeria’s Foreign Exchange Policy: A Step Forward, But No Magic Wand

Nigeria’s foreign exchange market has been buzzing lately, thanks to some significant changes announced by the Central Bank of Nigeria (CBN). These changes, which have sparked a wave of cautious

Bitcoin Price Analysis: Testing Key Resistance at $26,200, Recovery Expected

Bitcoin’s price has shown resilience, finding support above the $25,500 level and indicating a potential rebound. The cryptocurrency exhibits a gradual uptick, surpassing the $25,800 mark and forming a significant

GBP/JPY Forecast: Navigating Resistance Levels

The GBP/JPY pair continues its volatile movement, displaying an overall long-term upward momentum. Despite rallying above the significant ¥175 level against the Japanese yen, the market is facing substantial resistance,

Mastering Forex Market Hours: A Guide for Traders

For those venturing into the exciting world of forex trading, understanding the dynamics of forex market hours is crucial. The global forex market operates 24 hours a day, providing ample

Two Trades to Watch: DAX and Oil Outlook

DAX Resilient Despite Manufacturing Weakness Despite losses in the previous session, the DAX index is poised for a mildly positive start as investors assess the latest data from Germany. Industrial

Euro and Pound Struggle to Gain Momentum as USD Rises

Forex Market Analysis: EURUSD and GBPUSD EURUSD and GBPUSD struggled at the beginning of the week, with the US Dollar showing strength and preventing upward movements for the Euro and

Japanese Yen’s Resilience Amid Policy Stance

The Japanese Yen has managed to surprise and intrigue market participants who were expecting a policy shift from the Bank of Japan (BoJ) with the arrival of Governor Ueda. However,

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