By: Economic & Finance Report
Africa’s biggest cocoa producers Ghana, and Ivory Coast, will partner together to increase production of the cocoa bean. Both countries suffered economically because of the declining revenue of cocoa beans.
Presidents of Ghana, Nana-Akufo Addo, and Ivory Coast President, Alassane Ouattara met on Friday to discuss ways of increasing cocoa bean production and better coordinate between countries on increased development of the plant.
Both countries will be working with the African Development Bank, to find ways on capitalizing on cocoa and increasing the revenue in the sector. Ivory Coast and Ghana want to export more cocoa, which eventually helps revenues in both countries. Cocoa sales have suffered within the last several years worldwide and cocoa futures that are traded in global markets, have declined drastically as well; in daytime trading. -SB
By: Economic & Finance Report
As the Fed readies to deliver remarks of their Fed Policy meeting tomorrow March 18, 2015 (Wednesday). Stock, Futures, Commodities, Forex traders are bracing if the Federal Reserve Board are going to raise interest rates.
The Fed will make their announcement after the two day policy meeting, which is usually the case by most standards. The stock market has been profiting and doing fairly well with low interest rates so increasing the interest rates could have an opposite effect toward the markets.
Noone knows exactly when the rates will actually be heightened but many analyst and observers believe it will be later in the year in the middle of the year precisely. Tomorrow trading will probably be limited until after the Feds remarks, which only makes sense, “No need to jump in front of a moving train”, as the saying goes. We shall see. -SB
BY: Economic & Finance Report
Trading in the Forex markets comes with its rewards but also entails many risks. Knowing how to minimize the risk and outperforming to attain greater rewards is key in attaining a strong edge in the markets. In the week of January 12-16, 2015; the second full week of the New Year, the market witnessed probably one of the greatest losses in the forex and trading markets. The Swiss National Bank indicated they were allowing their Swiss Franc regulatory program against the Euro to be freely traded, and the reaction sent investors, traders, analyst, brokerages, market makers, and market movers into a windfall of turmoil.
Brokerages such as FXCM, one of the top retail forex brokerage in the US, were forced to attain a loan to cover their clients’ losses. The damages adhered were in excess of $300 million dollars USD. Private equity asset lenders had to come in to foot the bill. Financial banks such as Citigroup lost anywhere from $150-$200 million dollars, and other brokerages closed their shops indefinitely. Deutsche Bank (DB) lost excess of $150 million USD and Barclay’s Plc loss a little under $100 million USD. United Kingdom Brokers such as Alpari folded their uniformed shop and they are now gone in the oblivion because of this unfortunate Forex demise.
The wakeup call now places traders, especially retail traders in a tough position because of what happened underlying the Swiss National Bank. In the United States Forex and Futures is monitored by the NFA (National Futures Association) and the CFTC (Commodity Futures Trade Commission). These regulatory bodies have oversight on the futures and Forex markets and the regulations and rules are essential on what occurs in the Forex and Futures markets. So exactly what happens next from the entire debacle that had occurred? Well, once thing is quite sure, and that is retail traders now will be more on alert as discretional volatility will of course continue, maybe weeks and months ahead in this destabilizing Forex marketplace. –SB
About the Columnist/Writer:
Mr. Samuel Bassey is a Futures/Stocks/Forex Trader, based in New York City. He has an MBA in Media Management and is a licensed real estate professional and investor. He is the founder and operator of the international/global economic, finance, and business blog website called www.EconomicandFinanceReport.com, which he writes for as well; and he has a real estate property management/investing website entitled www.SammyBuyHomes.com. He can be contacted @ Samuelbassey@msn.com and info@SammyBuysHomes.com