XM helped young refugees in Cyprus

XM has provided basic necessities for several hundreds of young unaccompanied refugees staying in Pournara Reception Centre for asylum seekers in Cyprus.

The centre in Pournara acts as the first reception and registration centre for refugees arriving to Cyprus. These people have been forced to leave their homes to escape disasters that put their lives at risk. Among them there are many orphans and children who had to leave their families behind.

For refugee children, basic necessities are often hard to obtain. Teenagers aged from 15 to 18 years hosted by the centre arrived in urgent need of underwear, shoes, and socks.

There are more than 700 young refugees staying in various asylums on the island who need support. Partnering with organisations that help to build a better future for them remains one of our core corporate social responsibility priorities.

Visit : http://www.xmglobal.com/category/company-news

XM Seminar on Gold in Philippines Was a Success

Posted on September 6, 2022 at 8:23 am GMT. Read More XM Company News

On 27 August, XM successfully hosted the seminar Introduction to Trading Gold in Cebu. It was presented by Jonathan Lou Reyes, internationally recognized trading expert and founder of the Philippine Association of Forex Traders Inc.

Focused on gold trading essentials, this seminar provided attendees with the knowledge that is crucial to their success. They learned what forces drive the gold market and price, how to read gold cycles and how to utilize technical analysis to its full potential for informed trading decisions.

In addition to expert tuition, seminar attendees were also able to receive the free Avramis Gold indicator as an exclusive bonus. It is an effective technical analysis tool that will help them put into practice strategies learned at the seminar.

We would like to cordially thank each client who came to our seminar. As always, it was a great pleasure to meet with you in person and we hope to see you soon again. Have a look at a few highlights of this special event captured in photos:

XM wins Best Mobile App 2022 & Best Crypto CFDs 2022 awards

Posted on September 1, 2022 at 7:23 am GMT. Read More XM Company News

In May, XM won two amazing awards for the Best Mobile App and the Best Crypto CFDs at the Financial Expo Egypt 2022 in Cairo!

XM supported the event as Titanium sponsor and our experts successfully presented the topics Fundamental vs Technical Analysis and Algorithmic Trading during the speaker sessions program. Leading companies and professionals from the investment industry gathered to explore key trading topics and change the future of the FX business by networking with decision makers.

We are continuously improving our products and services, and our new all-in-one app and Crypto CFDs are the ones we are working on hard. That is why the whole XM team was so proud to receive these awards.

We developed our user-friendly XM – Trading Point app as a single convenient point of access to trading and all the benefits we provide to our clients in one click. If you want to try it, you can download the app from the App Store or Google Play.

We want to thank Financial Expo Egypt 2022 committee for the awards and thank our clients and partners for your continued support! Rest assured this award vindicates the path we are on to always providing the best services.

For Details Visit :

https://www.xmglobal.com/xm-wins-best-mobile-app-2022-and-best-crypto-cfds-2022-awards-165890

Join Our Seminars with Tradepedia CEO in Africa

Posted on August 26, 2022 at 9:55 am GMT. Read More XM Company News

In September and October 2022, we will host a series of free must-attend seminars with Tradepedia founder and CEO Avramis Despotis. He will present the topic Gold Trading Essentials in Botswana, Zimbabwe, and Namibia. Do not miss this amazing opportunity to learn from a brilliant analyst and world-class trading educator!

Book your seat for one of the seminars:

  • Gaborone, Botswana, 24 September
  • Harare, Zimbabwe, 28 September
  • Windhoek, Namibia, 1 October

Attendees will learn gold trading best practices and expert technical analysis techniques for finding the best trading opportunities. Additionally, they will be able to participate in the Lucky Draw with valuable prizes and get a 100%* deposit bonus up to $500.

We invite all XM clients to join us and boost their gold trading journey. See you at our seminars!

*T&Cs apply.

For Detail Visit

:https://www.xmglobal.com/join-our-seminars-with-tradepedia-ceo-in-africa-165602

Please note that seats are limited. Visit http://www.xmglobal.com to learn more and register for this event.

XM Hosted Forex Seminar in Da Nang

Posted on August 23, 2022 at 12:18 pm GMT. Read More XM Company News

Shortly after a forex seminar organised in Ho Chi Minh City, XM staff members continued their way to Da Nang on 13th August, offering local traders an educational event with free attendance.

Numerous new and existing clients showed interest in joining the seminar titled Efficient Trading Strategies hosted by market expert Lu Huu Duy, whose aim was to equip traders with techniques to increase profitability and minimise risk exposure.

Lu Huu Duy also dedicated considerable time to explaining guests about trading styles and individual trading routines, as well as about why trading psychology plays such a vital role in making trading decisions.

We were pleased to reconnect with our clients in person, and we would like to thank each of them for having chosen this opportunity to learn more about forex trading practices.

As our exclusive seminar series continues in Vietnam, we invite you to join our upcoming educational event by clicking here.

For Complete Details Visit :

https://www.xmglobal.com/xm-hosted-free-forex-trading-seminar-in-da-nang-2022-165380

Reuters

Germany to give energy essentials priority by rail if Rhine disruption worsens

Aug 14, 2022 at 12:57 pm GMT

BERLIN, Aug 14 (Reuters) – Germany plans to give the transportation of materials and equipment essential for energy production priority on the country’s rail networks should water levels on the Rhine fall further and hamper shipping by river, a draft decree shows.

DB Netz, the rail network arm of railway operator Deutsche Bahn , has already rejigged usage conditions to give preference to trains carrying mineral oil products and hard coal for power generators as Germany tackles an energy crisis.

“The aim is to ensure the ongoing operations of power stations, refineries, electricity grids and other system-relevant infrastructure,” said the draft drawn up by the transport and economy ministries and seen by Reuters.

It also referred to gas and transformer equipment for power production and transmission to be given priority over passenger services and other industrial requirements.

Germany’s government cabinet has to approve the provisional legislation that would be limited to six months, the draft said.

Water levels on the Rhine are low because of unusually hot and dry weather, making it impossible for many vessels to navigate the critical shipping route fully laden.

This has coincided with a shortage of gas for power stations, heating and industrial processes due to reduced

Russian exports has led to temporary switches by operators back to more coal and oil usage.

“We need extraordinary measures to ensure supply security,” economy minister Robert Habeck in a statement.

An important reference waterline level at the chokepoint of Kaub WL-KAUB near Koblenz stood at 34 centimetres at midday (1000 GMT) on Sunday, 3 cm lower than the same time on Saturday.

Kaub hit 25 cm at one point in 2018.
Reporting by Andreas Rinke and Vera Eckert; Editing by Alexander Smith

XM for Uganda: Six Years of Charity Work

Since 2017, when XM initiated the first humanitarian actions to help Ugandan children in need, a series of charity events have followed, each dedicated to shaping a brighter future for the less fortunate.

Recently, we had the opportunity to welcome Father Antonios Mutyaba at the XM head office in Cyprus, a truly admirable local priest from the Wakiso district of Uganda, to celebrate our fruitful cooperation and plan our next charity work together. Our first joint action with Father Antonios in 2017 was followed by many more, expanding our humanitarian work to help an ever-growing number of Ugandan children and create equal opportunities for all.

In the past many years, XM has built strong bonds with Father Antonios, who single-handedly ran an orphanage in the Wakiso district to feed, educate and nurture over 400 children. Since then, XM has contributed to the construction and further development of a school building; raised and donated money to the Wakiso local orphanage; as well as joined forces with the charity organisation Loving Hands to support further schools and the education of even more children across Uganda.

Building a brighter world for the generations to come is what we believe in at XM — and this is only possible to achieve with people as devoted to lifelong charity work as Father Antonios.

For Details Click Below !

https://www.xmglobal.com/xm-for-uganda-six-years-of-charity-work-csr-161679

Reuters :Wall Street drops as shrinking economy brings recession closer

Jul 28, 2022

(For a Reuters live blog on U.S., UK and European stock markets, click

or type LIVE/ in a news window)

* U.S. economy contracts again in second quarter

* Meta Platforms revenue drops for first time

* Qualcomm flags weak smartphone demand

* Indexes down: Dow 0.38%, S&P 0.38%, Nasdaq 0.70% (Updates to open)

By Shreyashi Sanyal and Aniruddha Ghosh

July 28 (Reuters) – U.S. stock indexes fell on Thursday weighed down by gloomy forecasts from Meta and Qualcomm, while an early reading showed the U.S. economy contracted again in the second quarter adding to fears the economy was already in recession.

Fears of runaway inflation and aggressive monetary policy tightening biting into economic growth have spooked markets, after gross domestic product fell at a 0.9% annualized rate last quarter, the Commerce Department said in its advance GDP estimate.

A Reuters survey of economists showed GDP growth likely rebounded at a 0.5% annualized rate last quarter.

“Today’s reading only adds fuel to the fire that we are in or entering a recession,” said Mike Loewengart, managing director at E*Trade from Morgan Stanley.

“While it is certainly on the negative side of estimates, keep in mind that a 1% decrease is relatively small and supports the idea that any recessionary environment will be mild.”

Two consecutive quarters of declines in growth are traditionally considered a recession, but the private research group that is the official arbiter of U.S. recessions looks at a broad range of indicators instead, including jobs and spending.

Worries of a recession hit Meta Platforms Inc META.O shares, which fell 7.6% after posting its first-ever quarterly drop in revenue.

Qualcomm Inc QCOM.O fell 5.3% after it warned that difficult economic conditions and a slowdown in smartphone demand could hit its mainstay handset chips business.

Shares of Apple Inc AAPL.O fell 0.7%, while Amazon.com Inc AMZN.O shed 1.4% ahead of their quarterly reports after market close.

The Nasdaq .IXIC clocked its biggest daily percentage gain since April 2020 on Wednesday after the U.S. Federal Reserve raised interest rates as expected and comments by Fed Chairman Jerome Powell eased some investor worries about the pace of rate hikes.

The U.S. central bank’s tightening cycle has hammered mega-cap stocks as future cash flows, on which valuations of these companies rest, are discounted heavily when rates rise.

At 10:00 a.m. ET the Dow Jones Industrial Average .DJI was down 121.60 points, or 0.38%, at 32,075.99, the S&P 500 .SPX was down 15.35 points, or 0.38%, at 4,008.26, and the Nasdaq Composite .IXIC was down 84.78 points, or 0.70%, at 11,947.64.

Defensive sectors, including S&P 500 utilities .SPLRCU and real estate .SPLRCR gained over 1% each in early trading, pointing to a largely risk-off day.

Ford Motor Co F.N gained 3.5% after reporting a better-than-expected quarterly net income.

Advancing issues outnumbered decliners for a 1.30-to-1 ratio on the NYSE, while declining issues outnumbered advancers for a 1.33-to-1 ratio on the Nasdaq.

The S&P index recorded two new 52-week highs and 30 new lows, while the Nasdaq recorded 38 new highs and 41 new lows.
Reporting by Aniruddha Ghosh and Shreyashi Sanyal in Bengaluru; Editing by Shounak Dasgupta

Link :

https://www.xmglobal.com/research/markets/allNews/reuters/wall-street-drops-as-shrinking-economy-brings-recession-closer-49509602

Reuters

Rate hike lifts S. Africa’s rand; CEE FX weaker as ECB verdict buoys euro

Jul 21, 2022 at 2:52 pm GMT


* Turkish cenbank holds rate at 14% despite near 80% inflation

* Rouble sinks ahead of expected rate cut

* South Africa raises main lending rate more than forecast

By Anisha Sircar

July 21 (Reuters) – South Africa’s rand jumped against the dollar on Thursday after a larger-than-expected rate hike by the central bank, while central and eastern European currencies were hit by a stronger euro following the European Central Bank’s first rate rise in over a decade.

The South African Reserve Bank (SARB) raised its main lending rate ZAREPO=ECI by 75 basis points (bps) to 5.50%, compared to predictions of a 50 bps hike, in the bank’s fifth consecutive increase as it tries to keep a lid on inflation.

The languishing rand ZAR= jumped 0.7%, reversing losses of 0.5% from earlier in the day.

“We will likely see the terminal repo rate level get to 6.5%, so there will be quite a bit more tightening in the cycle to come – inflation expectations have started drifting higher, which is what the SARB is concerned about,” said Miyelani Maluleke, macroeconomist at Absa Corporate and Investment Banking.

The yield on the government’s benchmark 2030 bond ZAR2030= rose as much as 1.1 bps following the decision.

Turkey’s lira TRY= continued to hover near December lows, last trading at 17.69 to the dollar, after its central bank stood pat on policy for a seventh straight month.

“Investors’ main hope for a policymaking shift lies in elections due mid-2023,” said Jason Tuvey, senior emerging markets economist at Capital Economics.

“Turkey’s external position remains dire. A wide current account deficit, large short-term external debts and perilously low foreign exchange reserves leave the lira vulnerable.”

The euro rose as much as 0.8% after the ECB delivered a 50 bps rate hike, its first increase since 2011 as it joined global peers in bumping up borrowing costs. Hungary’s forint EURHUF= and the Czech crown EURCZK= were up to 0.2% weaker.

Meanwhile, the Russian rouble RUBUTSTN=MCX fell sharply against the dollar, slipping below 58 ahead of an expected rate cut by its central bank on Friday.

Aggressive monetary tightening and fears of a recession have sent investors scurrying to safer assets such as the dollar, piling further pressure on emerging assets.

Latin American currencies have also weakened this month, with Colombia’s peso COP= leading the way with a decline of 6% so far in July as prices of its top export, crude oil, come under pressure from worries of weaker energy demand and tighter supply resulting from Russia’s war on Ukraine.

Elsewhere in the region, Brazil’s federal tax revenue in June rose 17.96% year-on-year to a record level, official figures showed, boosted by increases in corporate income taxes and oil royalties.

Key Latin American stock indexes and currencies at 1440 GMT:

Stock indexes

Latest

Daily % change MSCI Emerging Markets

988.36

0.18 .MSCIEF

MSCI LatAm

1941.62

-1.86 .MILA00000PUS

Brazil Bovespa

97478.05

-0.82 .BVSP

Mexico IPC

46864.54

-0.57 .MXX

Chile IPSA

5149.10

0.06 .SPIPSA

Argentina MerVal

106611.25

-0.316 .MERV

Colombia COLCAP

1300.05

-0.23 .COLCAP

Currencies

Latest

Daily % change Brazil real

5.4883

-0.53 BRBY

Mexico peso

20.6358

-0.50 MXN=D2

Chile peso

930.7

-0.52 CLP=CL

Colombia peso COP=

4374.25

-0.69

Peru sol

3.887

-0.25 PEN=PE

Argentina peso

129.5900

-0.15 (interbank) ARS=RASL

Argentina peso

319

-0.63 (parallel) ARSB=



Reporting by Anisha Sircar in Bengaluru
Editing by Mark Potter

XM NEWS

Reuters

Australia’s central bank says rate rises needed to stop inflationary cycle

Jul 19, 2022 at 11:13 pm GMT

SYDNEY, July 20 (Reuters) – Australia’s top central banker on Wednesday reiterated that further interest rates rises would be needed to stop an inflationary cycle developing, as the bank faces the first independent inquiry into its operations since the 1990s.

In a speech at a business conference in Melbourne, Reserve Bank of Australia (RBA) Governor Philip Lowe said it was crucial that high inflation not feed through to business and household expectations. He suggested rates might need to rise to a neutral level of at least 2.5%, from the current 1.35%.

The warning comes as the newly elected Labor government released details of a long-planned review of the central bank looking into its Board structure, operations and methods of communications with the public.
Reporting by Wayne Cole; Editing by Himani Sarkar

Link below:

https://www.xmglobal.com/research/markets/allNews/reuters/australias-central-bank-says-rate-rises-needed-to-stop-inflationary-cycle-49345850