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What is an Islamic Forex Account?

LonghornFX

Few social-cultural systems have impacted our society more than religion. The belief in a higher power has shaped the world through rituals, sermons and other practices but also through defining the fundamental guidelines of social behavior within the communities. For religions like Islam, those guidelines include extensive references to finance, creating the concept of Islamic finance. Offering foreign exchange (forex) services to Muslim customers has to be in accordance with their beliefs through special Islamic accounts. This article will cover the basics of Islamic forex accounts — how they work and what makes them different from ordinary ones. Fundamentals of Halal Forex Trading Islam is an old religion with complex guidelines, many of which offer in-depth principles for financial business. Although some of them sound outdated by modern standards, their principles still apply. For example, a trade has to be immediately exchanged. This concept works through over-the-counter (OTC) trading. No interest is involved in any form, credited or debited. Halal forex trading has to be swap-free — without an interest fee for an overnight position. Finally, forex trading has an advantage over other markets in terms of short-selling. Islam prohibits short selling — borrowing an asset while betting on its price decline. But currencies trade as a pair so selling a currency doesn’t have to involve borrowing any asset or interest element. Is Forex Trading Halal or Haram? Forex trading can be both halal or haram. It depends on the individual’s attitude toward it. According to Islamic law, something is considered forbidden or “haram” based on the guidelines of the Holy Quran. The forex-related prohibited activities include charging interest and gambling. While Islamic forex accounts operate without charging interest, the gambling factor is partially up to the traders themselves. Is their strategy sound? Are they operating with a specific purpose or randomly? Islam doesn’t prohibit conducting regular business, which involves taking on risk, yet by removing the leverage factor, an Islamic forex broker removes the gambling element — making the trading halal. Understanding How Islamic Forex Accounts Function Islamic forex accounts have few key differences from regular accounts. Here are four things to keep in mind when trading through an Islamic forex account. Commissions Islamic accounts are swap-free, meaning they don’t pay or earn swaps or interest on any trades. Instead, most brokers opt for a flat financing charge rate, also known as a commission, that depends on the currency pair. While popular pairs such as USD/JPY might have a low commission, exotic ones like EUR/ZAR might be 10 times more expensive. Eliminating Interest Earning or charging interest or riba is one of the critical haram concepts in Islamic finance. In forex trading, interest is charged or accrued for trades that roll over into the next day. Islamic forex accounts don’t offer this, preventing some strategies based on that concept. For example, borrowing the lower interest rate currency to fund a purchase of a higher interest rate currency is known as a carry. Yet, Muslim traders should not pursue it, nor should it work on Islamic forex accounts. Limited Currency Pairs Using an Islamic forex account might limit access to some exotic currency pairs. This is mainly because of the broker’s expenses associated with the significant interest rate differentials. Exotic currency pairs involve emerging markets that often have high-interest rates, such as Turkey or Thailand, and brokers cannot process those trades under halal guidelines. This limitation doesn’t impact most traders who prefer to stick with the most popular currencies: the U.S. dollar (USD), the Euro (EUR), the Japanese yen (JPY), the British pound (GBP), the Canadian dollar (CAD), the Swiss franc (CHF), the Australian dollar (AUD) and the New Zealand dollar (NZD). Wider Spreads By offering leveraged trading through borrowed funds, brokers make a sizeable portion of their income by charging swap interest. Because charging interest is not allowed in Islamic finance, they have to find some other compensation to make it up by setting a wider spread. This spread seldom makes a difference for long-term traders, but it makes short-term trading (scalping) much harder. Traders who execute tens of daily trades might have to adjust their approach as fees and spreads quickly add up, eating into the profits. Religious Compliance Comes With Restrictions Religion is essential to many people’s lives. Its influence stretches far beyond the spiritual element and sometimes deep into established business practices. Currency exchange is a fundamental part of international business, and the only way it works is through currency trading. By collaborating with Islamic scholars, forex brokers found a way to offer their services in a halal way. While it limits access to some markets or prevents pursuing specific strategies, it is a small price to access one of the largest markets in the world. This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice. Contact Details LonghornFX help@longhornfx.com Company Website https://www.longhornfx.com/

March 09, 2023 06:00 AM Eastern Standard Time

The True Impact of Monetary Policy on the Forex Market

LonghornFX

Monetary policy is perhaps the most pivotal driver impacting foreign exchange (forex) because it influences the currencies in circulation. Following the Federal Reserve’s announcement of hike rates to tame inflation, the U.S. dollar strengthened significantly compared to other currencies. The Fed hiked the benchmark federal funds rate seven times last year, causing the greenback to register its best year since 2016. However, the trends have changed this year, as the Fed has signaled lower rate hikes. The U.S. dollar index slumped last week as the central bank raised the interest rate by 25 basis points. Let’s take a closer look at the correlation between monetary policy and the forex market to better understand exchange rate fluctuations. What Is Monetary Policy? Monetary policy is one of the most important tools used by central banks worldwide to regulate the total currencies in circulation. Controlling the aggregate money supply has implications for a nation’s economic growth, employment, inflation level and forex markets. The U.S. central bank controls the total amount of U.S. dollars in circulation globally at any given point in time, while the European Central Bank (ECB) and Bank of England control the quantity of euro (EUR) and Great British Pound (GBP) disseminated worldwide. A central bank has several tools at its disposal, allowing it to properly regulate an economy’s money supply. The Federal funds rate, which is the rate at which banks can lend and borrow excess funds overnight, is often the most common parameter by central banks globally. Other policy tools include open market operations, under which the Fed buys and sells government bonds (Treasuries), and discount window and rate, which is the interest rate charged by the Fed on loans to commercial banks. Types of Monetary Policy Central banks use monetary policy tools to increase, decrease or maintain a currency’s total supply to meet the economic goals set forth or address macroeconomic headwinds. Let’s look at the four types of monetary policies. Restrictive monetary policy: This policy is implemented when a central bank aims to reduce a nation’s total currency in circulation. Raising the benchmark interest rate is a standard technique implemented for restrictive monetary policies. This process raises the average borrowing costs in a country, thereby encouraging businesses and investors to scale down their operations. Other commonly used restrictive monetary policy tools are raising the discount rate and selling government bonds in the open market. The Fed has raised the federal funds rate eight times since last year, while the ECB increased its interest rate five times since 2022. Expansionary monetary policy: Under expansionary policies, central banks boost the total money supply to promote economic growth. Borrowing becomes cheaper under this policy, encouraging people to spend more. As a result, the aggregate demand rises, prompting a rise in total production and gross domestic product (GDP). Banks lower interest rates and discount rates and buy government bonds and other debt to improve and raise the total money supply. During the initial wave of COVID-19, central banks around the world adopted an expansionary monetary policy to mitigate the impact of the global lockdown. The Fed lowered its benchmark rate to near-zero levels during the first quarter of 2020 and also implemented a significant quantitative easing strategy. Accommodative monetary policy: This is when central banks raise the total money supply in economies to prevent stagnation for fuel economic growth. It is similar to expansionary monetary policy, as banks use similar tools to effectuate an accommodative policy. The Fed implemented an accommodative policy to bring the U.S. economy out of recession in 2008 when the unemployment rate hovered at 6.5%, while inflation fell below 2% and was projected to decline further. Neutral monetary policy: When an economy runs at the perfect pace, a central bank pursues a neutral monetary policy to maintain the equilibrium. It is imperative that such a policy is only used when the “economic conditions are just right,” as stated by Janet Yellen, the Secretary of the U.S. Department of Treasury. Theoretically, a nation with the highest possible GDP growth rate, inflation below the predetermined target and operating at the natural rate of unemployment is considered to be in equilibrium, allowing for the utilization of a neutral monetary policy. So, What’s the Real Effect of Monetary Policies on Forex Traders? Typically, when a central bank implements a contractionary monetary policy, the respective currency strengthens, causing associated exchange rates to rise. Illustrating with an example, assume 1 USD = 100 JPY (Japanese yen). If the U.S. dollar appreciates in value, then 1 unit of the greenback can buy even more units of JPY. Thus, the new forex rate can be 1 USD = 103 JPY. However, if the markets expect contractionary policies to slow down in the upcoming months or have already priced in the impact, the forex rate might fall. Recently, as the Fed hiked rates by only 25 basis points earlier this month and signaled tamer hikes ahead, the US dollar index declined marginally year-to-date. Monetary Policy: The Key Driver for the Forex Market Monetary policy is the most important economic factor influencing forex rates. While it is difficult to know the exact monetary policy tools a central bank might use to regulate a currency, economists often release predictions regarding the next plausible move by the central bank. Committee heads release their own statements and projections. The Federal Open Market Committee members and regional Fed chairpersons also announce their official projections, which are combined to create a Fed Dot Plot. Studying these projections can give traders an idea about the monetary policy tools a central bank might enforce in the near term, thereby allowing them to make an informed bet in the forex market. This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice. Contact Details LonghornFX help@longhornfx.com Company Website https://www.longhornfx.com/

March 09, 2023 05:00 AM Eastern Standard Time

Is an Eco-Friendly Forex Trading Strategy Possible?

CedarFX

Sustainable investing has been gaining traction over the past three years, as investors have begun prioritizing climate change mitigation. As governments and corporations worldwide take action on reducing their net carbon footprints, environmental, social and governance (ESG) investing practices will likely become one of the most popular investing strategies in the years to come. But only a handful of online brokers facilitate eco-friendly forex trading. Traders in the Forex Market Are Increasingly Focused on Sustainability The forex market is one of the most sustainable financial markets, as all transactions are processed electronically. Brokers have been implementing several strategies to boost their sustainability efforts further. This is in sharp contrast to alternative asset markets such as cryptocurrencies. Crypto mining is one of the leading causes of greenhouse gas emissions in certain markets, as it consumes huge amounts of electricity. The U.S. houses almost 33.33% of total global crypto-asset operations and generates one of the highest greenhouse gas emissions from such activities. Crypto-related operations account for 0.9% to 1.7% of total electricity use in the U.S. — equivalent electricity use of all home computers and lighting in the country. Crypto-related activity also accounts for 0.4% to 0.8% of total U.S. gas emissions, equivalent to the emissions from diesel fuel from railroads. While ESG investing in stocks seems efficient on paper, certain publicly-traded corporations often engage in greenwashing to entice investors. This happens when companies spread misinformation regarding their total greenhouse emissions or make fictitious promises regarding their carbon footprint reduction goals. Optimizing Your Forex Trades to Support an Eco-Friendly Future The most important step to becoming an eco-friendly forex trader is to choose an appropriate broker that engages in sustainable trading practices. Most eco-friendly brokers list their sustainability efforts on their websites, allowing potential traders to view the information with ease. Knowing their vision and commitment to the environment is crucial, as brokers might use past practices as an advertisement to entice green investors without actually having any long-term resolutions. You can view the list of some of the best forex brokers here. How Can You Develop An Environmentally Friendly Forex Strategy? Using an eco-friendly forex broker is key to becoming a green forex trader, but there are several other ways to practice sustainable investing. Investing in forex from home through an online broker can help you reduce your total carbon footprint by saving gas spent on travel. In addition, using tools and strategies that consume lower energy also reduces greenhouse emissions. Another eco-friendly strategy is investing in the currencies of countries that have committed to lowering their carbon footprints. Most Western nations have pledged to eliminate their carbon footprint by 2050. As such, many countries have signed the landmark climate change treaty the Paris agreement, which aims to limit global warming to 1.5 degrees Celsius. According to the World Economic Forum, eight countries have already achieved carbon neutrality: Bhutan, Gabon, Madagascar, Suriname, Niue, Guyana, Comoros and Panama. Put Eco-Friendly Forex Trading to the Test With CedarFX CedarFX, a St. Vincent and Grenadines-based online forex broker, is one of the most prominent eco-friendly forex brokers in the market. Billing itself as the world’s first eco-broker, CedarFX has partnerships with environmental organizations. The 0% commission broker has partnered with the British environmental organization Ecologi to promote reforestation efforts. The platform’s eco-friendly account, CedarFX Eco Account, contributes $1 for every dollar paid by traders. CedarFX, along with Ecologi, has planted 125,859 trees as part of its pledge to plant 10 trees for every lot traded through the platform. The platform also supports The Gold Standard, a Switzerland-based nonprofit that sets quantifiable standards for climate and development interventions. You can view the CedarFX platform’s features and offerings here. This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice. Contact Details CedarFX +1 877-440-9464 info@cedarfx.com Company Website https://www.cedarfx.com/

March 09, 2023 05:00 AM Eastern Standard Time

Inflation and Potential Recession Put Retirement at Risk

Retirable

Experts have been ringing the recession alarm bells for some time. If you’re considering retiring soon, you may be worried about what that means for your golden years — and you may have reason to be nervous or stressed. A majority of retirees (77%) and non-retirees (72%) say they’re worried about a recession affecting their plans, according to a recent Kiplinger survey. Pre-Retirees and Retirees Face an Uncertain Future For starters, the value of your nest egg has likely taken a dip — the S&P 500 lost over 19% in 2022. Bonds have fallen similarly. But the stock market isn’t the only thing making you feel less than optimistic about retiring. A number of additional factors may be affecting your retirement plans, including market volatility, the financial security of Social Security, rising healthcare costs and inflation, which has remained at record-high levels. “Adults above the age of 50 have a number of concerns right now,” said Retirable CEO and Co-Founder Tyler End, a certified financial planner (CFP®). “Inflation and a potential recession are concerns that are top-of-mind for many of our clients as they approach retirement. As more Americans move into the decumulation phase of their retirement plan, inflation will make a big impact on their day-to-day life.” Case in point: More than 70% of those 50 and older are worried that inflation will cause serious hardship during retirement, the Kiplinger survey found. Understanding Inflation’s Effects Inflation has been consistently high for the past year, driving up costs and reducing the purchasing power of savers. This is a cause for concern for many Americans who are looking ahead to their golden years and wondering where to put their money during an inflation surge. Because interest rates are rising, the real — or inflation-adjusted — value of retirement portfolios dropped, which means if you’re retiring soon and need to withdraw your money, you’ll have less purchasing power. “Simply put, you will need more money to buy goods and services in this environment,” End said. “Daily costs will be more than what you may have budgeted for. These changes will affect how you plan, invest and spend during retirement.” Say you plan to withdraw $25,000 each year in retirement and your retirement lasts 25 years. If inflation is at 4%, your exact same lifestyle will cost you $66,646 at the end of your retirement. How to Recession-Proof Your Retirement You can’t control the market — or the economy for that matter — but you can control what you decide to do about the current landscape. Taking the wheel on your finances during a recession can restore feelings of control and lower stress — and save you money. The sooner you act, the more likely you’ll enter your retirement (somewhat) on top. Retirable, known for its holistic approach to retirement alongside the ongoing care of an adviser, recently released its guide “ How to Recession-Proof Your Retirement.” Written by its team of certified financial planners, Retirable’s free guide helps pre-retirees and retirees gain a better understanding of how to plan, invest and spend throughout retirement. The guide provides a playbook for adults aged 50-plus to help withstand any economic situation, including: Planning advice to boost your savings, consolidate your debts and use your greatest assets Ways to balance your investments, be smart with investment fees and lower your tax burden Retirement income strategies and resilient spending plans to help you embrace the unknown Retirable is designed for the 50 million Americans approaching retirement in the next decade without a formal retirement plan. Retirable is on a mission to provide ongoing management from a dedicated fiduciary adviser to help clients spend retirement income efficiently, make savings last and navigate key decisions throughout retirement. Download your free copy of “How to Recession-Proof Your Retirement” and give yourself the clarity and confidence you need to weather any economic storm. This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Retirable +1 833-222-1807 info@retirable.com Company Website https://retirable.com/

March 08, 2023 02:52 PM Eastern Standard Time

MinZheng Wahlers and Jadyn Diaz Named Winners of Jersey Mike’s Naismith High School Basketball Courage Award

Atlanta Tipoff Club

MinZheng “MZ” Wahlers of Golden View Classical Academy in Golden, Colo., and Jadyn Diaz of Ukiah High School in Ukiah, Calif., have been named the winners of the fourth annual Jersey Mike’s Naismith High School Basketball Courage Award. The Atlanta Tipoff Club, which administers the Naismith Awards, determined Wahlers and Diaz stood out above the rest after evaluating hundreds of nominations nationwide. The Naismith Awards are the most prestigious national honors in high school and college basketball. To watch a video of each winner, go to https://youtu.be/c4-Mkp0US1o (Jadyn Diaz) and https://youtu.be/ZpoP-n7qoTk (MZ Wahlers). Diaz has dealt with a rare bone disease throughout her life that causes her bones to grow unintendedly, resulting in multiple surgeries. The operations cut back bones that grow larger than her body can handle. Her most recent surgery included the removal of two inches of a rib that punctured her lung. She recovered quicker than expected and rejoined the girls’ basketball team in a limited capacity. To add to her misfortune, she lost her mom to cancer a couple of years ago. Wahlers has also faced continuous adversity in his life. Born with a Cleft lip and palate in China, he was immediately abandoned at a police station, where doctors conducted emergency surgery to close his upper palate. After the operation, he was without a home. He was eventually fostered by a local family and began to focus on basketball. “Beyond the basketball court, MZ and Jadyn have demonstrated incredible courage throughout their lives and have become tremendous role models in their communities,” said Eric Oberman, executive director of the Atlanta Tipoff Club. “This award evaluates an individual as a well-rounded person, not just for their on-court talent, and both MZ and Jadyn exemplify what it means to win the Jersey Mike’s Naismith Courage Award.” The Jersey Mike’s Naismith High School Basketball Courage Award recognizes a high school basketball player who has consistently gone above and beyond throughout the basketball season and has demonstrated courage in their approach to their team, school, and community. Jersey Mike’s will make a $2,000 donation to each player’s high school basketball program in their honor and reward each winner with an additional $2,000 per student. Winners will be recognized at their school and through a video tribute shared across the Naismith Trophy and Jersey Mike’s websites and social media accounts. “We’ve been thrilled to help tell the stories of so many amazing and courageous student-athletes across the country,” said Rich Hope, Chief Marketing Officer of Jersey Mike’s Franchise Systems, Inc. “We want to congratulate Jadyn and MZ for winning the 2023 Jersey Mike’s Naismith High School Basketball Courage Awards. Their stories inspire all of us.” For more information about the winners, visit www.astudentabove.com. ABOUT THE ATLANTA TIPOFF CLUB Founded during the 1956-57 season, the Atlanta Tipoff Club is committed to promoting the game of basketball and recognizing the outstanding accomplishments of those who make the game so exciting. The Atlanta Tipoff Club administers the Naismith Awards, the most prestigious national honors in all of college and high school basketball. Named in honor of Dr. James Naismith, inventor of the game of basketball, the family of Naismith Awards annually recognizes the most outstanding men’s and women’s college and high school basketball players and coaches. Other Naismith Awards are presented to the men’s and women’s college basketball defensive players of the year, as well as lifetime achievement awards to basketball officials and outstanding contributors to the game. UCLA’s Lew Alcindor received the first Jersey Mike’s Naismith Trophy in 1969, while the late Anne Donovan (Old Dominion) was the inaugural women’s recipient in 1983. Corporate partners of the Naismith Awards include Jersey Mike’s and Werner Ladder. ABOUT JERSEY MIKE’S SUBS Jersey Mike’s Subs, with nearly 2,500 locations nationwide, serves authentic fresh sliced/fresh grilled subs on in-store freshly baked bread — the same recipe it started with in 1956. Passion for giving in Jersey Mike’s local communities is reflected in its mission statement “Giving…making a difference in someone’s life.” For more information, please visit jerseymikes.com or follow us on Facebook (facebook.com/jerseymikes), Instagram (instagram.com/jerseymikes), and Twitter (twitter.com/jerseymikes.com). Contact Details Eric Nemeth +1 602-502-2793 nemeth@ericpr.com Company Website https://www.astudentabove.com/

March 08, 2023 12:39 PM Eastern Standard Time

Forex Trading Strategies and Their Pros and Cons

LonghornFX

Forex trading is often more profitable than stocks, given the significantly larger market and greater availability of leverage. The forex market processes $7.5 trillion worth of trades every day, — 30 times greater than the daily global gross domestic product (GDP), according to a recent survey conducted by the Bank for International Settlements. But as currency markets are volatile, adopting a sound strategy is key to becoming a successful foreign exchange (forex) trader. The decentralized forex market is typically receptive to any minor development globally, making it challenging for novice investors. Beginners often trade forex securities based on short-term developments at the risk of incurring losses. This makes them susceptible to market noise, reducing their odds of realizing profits on trades. Adopting forex strategies can circumvent such trading mistakes because they help investors distinguish false signals from overall trend patterns. Finding Forex Strategies That Work Before looking at the different forex strategies, a forex trader must outline their investment goals and understand their risk appetite. Rookie traders should set a particular time interval during which they want to trade because different time zones mean the forex market is always open Multiple strategies pander to small spikes in exchange rates throughout the day, while some have a longer-term focus. An active trader willing to trade throughout the day can adopt time-consuming strategies, while investors with limited trading time to spare might want to go for some relatively less demanding options. Top Forex Trading Strategies for the Foreign Exchange Market Take a look at some of the most popular forex trading strategies that are used by beginners and seasoned traders alike. Trend Trading Strategy Trend trading strategy focuses on a currency’s momentum at any given time. The rule of thumb for this strategy is that a currency exchange rate that is rising will maintain this uptrend for some time, while a falling exchange rate might plummet further. Traders use a combination of momentum indicators, chart patterns and moving averages under trend trading strategy. Pros: One of the easiest forex trading strategies Not time-consuming, as a forex trader does not need to be active every day to execute trades Traders can set up automated take-profit and stop-loss orders in case of an unforeseen trend reversal Cons: Cannot filter out market noise and false breakouts Relatively lower profit margins as trend traders are lagging behind first movers Trend trading indicators are not always accurate Price Action Trading Price action trading involves analysis of a currency pair’s past exchange rate (price) performance to make future predictions. Short-term traders typically use price action trading forex strategy to capitalize on recent price fluctuations. Pros: Useful for churning out profits during unusually volatile market conditions Price action-related data and patterns can be easily extrapolated from prior trading sessions Cons: Does not take into consideration the fundamental factors that affect a currency exchange rate Past price performance is not an entirely accurate predictor of future trends Range Trading Strategy Ranging trading is a short- to medium-term buy-and-hold strategy. Traders typically predict a maximum high or low a currency pair can hit in the near term, which forms the resistance and support levels. Pros: Relatively safe forex strategy, as a trader typically places automatic buy or sell orders at the support and resistance levels to shield from volatility Customizable per the preferred holding duration of a trader — day traders limit their range to intraday highs and lows while others opt for a longer range-bound trading strategy Easy trading tools Cons: Susceptible to short-term fluctuations. Automatic stop-loss orders might cause investors to lose out during periods of noise-driven market volatility Not backed by fundamental factors driving currencies Position Trading Position trading requires investors to assume a long-term buy (long) or sell (short) position in a currency. Such traders conduct a thorough fundamental and technical analysis of forex securities while trading. Pros: Well-researched forex trading strategy. Less time consuming Cons: Can lead to significant losses in case of a trend reversal High opportunity cost, as the lock-in period limits alternative investment options Swing Trading Swing traders aim to capitalize on the short- to medium-term fluctuations in forex securities. They primarily use technical analysis indicators to determine the best entry and exit points but also take into account fundamental factors that might influence exchange rates in the medium term. Pros: Lower risk compared to intraday trading Efficient and time-saving trading strategy Cons: Lower stability compared to long-term trading strategies Exposed to abrupt trend reversals which might result in substantial losses Forex Scalping Strategy Forex scalping is a day-trading strategy that aims to generate small profits through multiple trades. Traders typically place several bets during the course of a trading session, with the intent of booking minute profits on each trade. Pros: Lower risk as traders square off any open positions quickly Capacity to generate substantial profits during volatile trading sessions Using leverage while using a forex scalping strategy can amplify income significantly Cons: Requires constant monitoring of the forex markets Traders must react within seconds while forex scalping, which can be exhausting Carry Trade Strategy Currency carry trading is one of the most popular forex strategies. Traders borrow using a currency with a low-interest rate and use it to buy high-interest rate-yielding currency. The intrinsic rate difference between the two currencies allows forex traders to earn interest. Apart from this, traders also book profits if the borrowed currency depreciates and/or if the high-yielding currency appreciates. Pros: High return generating potential, especially if traded using leverage Works for relatively illiquid currency pairs Cons: Not suitable for beginners Currency exchange rate fluctuations pose a substantial risk Choose Forex Trading Strategy Wisely Traders often combine multiple forex strategies while trading currencies, depending on their risk appetite and investment schedule. Having a sound understanding of the fundamental factors influencing currencies as well as technical analysis indicators is crucial to generate hefty profits on each trade. Investors also should track any sudden trend reversals, monetary policy-related changes or macroeconomic press releases. This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice. Contact Details LonghornFX help@longhornfx.com Company Website https://www.longhornfx.com/

March 08, 2023 11:58 AM Eastern Standard Time

Flawless by Gabrielle Union Announces Grant Initiative For Black, Female-Owned Businesses

Flawless by Gabrielle Union

Flawless by Gabrielle Union, a haircare brand intentionally crafted to celebrate versatile hair types, textures, and styles, today announces its inaugural grant initiative for Black, female-owned businesses. Historically, there has been a significant gap in access to capital, expertise, and opportunities among Black, female entrepreneurs. This International Women’s Day, Flawless by Gabrielle Union is helping bridge this gap by awarding three Black, female entrepreneurs $25,000 each in financial support to help elevate their businesses. “We are so grateful to have a platform to support other Black female entrepreneurs,” said Gabrielle Union, co-founder of Flawless by Gabrielle Union. “For these founders, the barrier to entry is often unreachable, and we are proud to be a supporting anchor in their climb to success.” “We want to give these individuals the necessary tools to succeed in a saturated space,” said Larry Sims, co-founder of Flawless by Gabrielle Union. “Financial support, along with one on one mentorship sessions with some of our incredible partners, aims to give recipients the opportunity to feel seen, supported, and uplifted.” To be considered, founders must submit a one-minute video and a brand deck to an expert panel of judges, who will then review each submission. The judges are as follows: P. Bagels-Minor, Founder of DVRGNT Ventures * Antoine Gregory, Founder of Black Fashion Fair Third judge to be announced *will offer mentorship sessions to winners The application period begins on March 8th and ends on April 19th. Six finalists will be chosen to participate in a virtual pitch event taking place on May 10th and winners will be announced on May 17th. In order to participate, founders must meet the following criteria: Must be 18+ Company must be based and operated in the United States (open to U.S. residents and U.S.-based brands only) Company must be in one of the following categories: fashion, skincare, and hair accessories Must have an existing company website and social media presence Products are not in distribution at a major retailer Business must be past the ideation phase with a fully developed product or service, with customers or ready for customers To learn more about Flawless by Gabrielle Union, please visit flawlesscurls.com. About Flawless by Gabrielle Union: Co-founded by Gabrielle Union and celebrity hairstylist Larry Sims, Flawless by Gabrielle Union aims to provide product knowledge and style education to everyone with its versatile collection of oils, cleansers, and conditioners for every hair type. Flawless by Gabrielle Union’s texture-specific products are infused with exotic, hydrating ingredients such as Brazilian Bacuri Butter, Rice Oil Complex, and Lilac Leaf Extract, leaving out harmful additives such as sulfates, silicones, and parabens. The Flawless by Gabrielle Union collection aims to help individuals find their custom routine to hydrate, define, repair, and protect. Contact Details Six One Agency Camryn Carlson +1 818-748-7444 camryn@six-one.com Chloe Sonne +1 425-315-3353 chloe@six-one.com Company Website https://flawlesscurls.com/

March 08, 2023 08:03 AM Eastern Standard Time

Playmaker and Complexity Gaming, a GameSquare Company, Strike Long-Term Deal to Bridge the Gap Between Gaming and Sports

Playmaker

Playmaker, a leading social media sports and entertainment content platform catering to Gen Z, and Complexity Gaming, a GameSquare company, have announced a multi-year partnership to link traditional sports and gaming through content collaboration and strategic development with athletes and gamers. “Given its emerging popularity among our audience, we know this is the optimal time to fully embrace esports, and launch a dedicated channel,” said Playmaker CEO Brandon Harris. “Complexity Gaming’s support is essential in building out this new vertical, as we now have significant connections to prominent industry tools, leaders and influencers.” As a leading esports organization in North America, Complexity will serve as a key resource for Playmaker as it ventures into the ascending esports market with its recalibrated esports and gaming channel, playmakerOP. The partnership will arm Playmaker with preferred access to GameSquare’s full service content studio, creative assets, gaming equipment and technology, and a roster of high-profile athletes and gaming influencers under management. Additionally, Playmaker will utilize Complexity’s two decades of industry knowledge as it builds out a comprehensive gaming strategy. Playmaker’s sizable following enhances Complexity’s efforts to drive media visibility and brand awareness. Playmaker’s audience includes more than 18 million followers across social platforms, touching a variety of verticals including sports, betting and entertainment. Additionally, Playmaker manages and produces content with notable athletes and influencers such as Tracy McGrady, Nate Robinson and Xavien Howard, amplifying the magnitude of its influence and reach. “We want to ensure that we are at the forefront of the convergence of gaming and traditional sports,“ said GameSquare CEO Justin Kenna. “Working alongside Playmaker affords Complexity access to engaged audiences across sports and entertainment, noteworthy influencers, and key brand relationships, making the company the ideal partner to expand our capabilities and serve our growing global audience.” About Playmaker Founded in 2018, Playmaker is a new-age media, talent & merchandise company. The company currently influences more than 18 million followers across its social media, 50+ athletes under management and more than 20 original shows on Snap Discover. In addition to its flagship sports content, Playmaker operates independent branded verticals including betting, entertainment, basketball and esports. For more information, please visit Playmaker’s official website: https://playmakerhq.com/ About Complexity Gaming Complexity Gaming, a GameSquare subsidiary, is one of North America’s longest-standing esports organizations. Complexity Gaming’s Esports teams have won more than 140 championships in nearly 30 game titles over its 15+ year history. Staunchly committed to passion, professionalism, and a player-first mentality, Complexity Gaming has been continuously recognized as a global leader in modern esports. For more information on Complexity Gaming, visit http://Complexity.gg and follow the organization on Twitter, Instagram, YouTube, TikTok and Facebook. About GameSquare GameSquare (CSE: GSQ; OTCQB: GMSQF; FRA: 29Q1) is a vertically integrated, international digital media and entertainment company enabling global brands to connect and interact with gaming and esports fans. GameSquare owns a portfolio of companies including Code Red Esports Ltd., an esports talent agency serving the UK, GCN, a digital media company focusing on the gaming and esports audience based in Los Angeles, USA., Cut+Sew (Zoned), a gaming and lifestyle marketing agency based in Los Angeles, USA, Complexity Gaming, a leading esports organization operating in the United States, Fourth Frame Studios, a multidisciplinary creative production studio, and Mission Supply, a merchandise and consumer products business. The Company is headquartered in Toronto, Canada. Contact Details Alex Shapiro +1 732-770-9395 ashapiro@hotpaperlantern.com Company Website https://homeofplaymakers.com/

March 08, 2023 07:30 AM Eastern Standard Time

How to Use the Economic Calendar to Boost Your Forex Strategy

CedarFX

The forex market is the biggest financial market in the world, processing approximately $7.5 trillion worth of trades each day, which is 30 times larger than the daily global gross domestic product (GDP). According to the Bank for International Settlements (BIS) Triennial survey conducted in April 2022, market volatility has risen since 2019. Given increased volatility levels and abrupt fluctuations in currency exchange rates amid increased geopolitical tensions, adopting a sound forex strategy is crucial to trade currencies profitably. Economic data releases are one of the biggest drivers of the forex market as they reflect the financial health of a country and key policy changes a government might take in the future that could affect the currency. Incorporating the economic calendar into a forex strategy increases a trader’s odds of booking profits. What Is the Economic Calendar? Economic calendars list dates when federal agencies release important economic data, such as inflation levels, unemployment rates and changes in the benchmark federal funds rate. These data releases make a major impact on the global currency market and are a necessary tool for every forex trader. While macroeconomic data such as GDP is released quarterly, statistics like total jobless claims are released weekly. Types of Economic Events That Happen in the Calendar Some of the most important data releases mentioned in an economic news calendar are: Purchasing managers index (PMI): Released by the Institute for Supply Management, the PMI is an economic indicator that reflects total economic activity and output. Measured on a scale of 0 to 100, a PMI reading higher than 50 indicates economic expansion, while a lower-than-50 reading indicates contraction. Central bank meetings: The Federal Open Market Committee (FOMC) typically meets eight times a year to discuss monetary policy changes in accordance with the current economic conditions. FOMC minutes of meetings are perhaps the most important press release on the economic calendar for the forex market because changes to interest rates or other open market operations directly impact the U.S. dollar. Inflation data, producer price index (PPI) and consumer price index (CPI): Traders follow the PPI and CPI as a barometer for inflation. These releases reflect the health of the economy and predict near-term changes in monetary policy. Soaring inflation levels since mid-2021 have caused the Federal Reserve to hike the federal funds rate eight times so far, impacting the U.S. dollar significantly. The greenback rose by nearly 8% last year, marking the biggest rise since 2015. Employment data: This type of data includes jobless claims reports (number of people filing for unemployment insurance) released weekly and non-farm payrolls released monthly. These reflect the overall employment rate and average wages earned by workers in an economy. Total employment costs affect the inflation levels, which, in turn, impact the domestic currency. Retail sales: Retail sales data demonstrates consumer spending levels in an economy. For a consumer economy such as the U.S., retail sales data forms one of the most important economic indicators as it accounts for nearly two-thirds of total GDP. A strong retail sales reading indicates economic expansion, strengthening the currency, while falling sales indicate potential contraction or recession, causing fiat currency to depreciate. What to Pay Attention to as a Forex Trader While numerous types of economic data are released every week, not all are equally important. While some cause temporary fluctuations in exchange rates that are reversed intraday, other key economic releases often trigger a bull or a bear run for currencies. Changes in monetary policy, retail sales and inflation data often are the biggest catalysts driving the forex market. Also, whisper numbers, which are projections released by analysts and economists, play an important role. Exceeding or falling short of these projections often causes currencies to fluctuate. How to Trade Forex Using the Economic Calendar Traders generally use the economic calendar to keep track of important data release dates to efficiently invest in the forex market. Knowing the market expectations by analyzing the whisper numbers matters too, as they reflect the general market trend. Usually, the impact of economic releases lasts for the first few days after an announcement, depending on the gravity of the report. For instance, slowing inflation data will likely have a bigger impact on the forex market compared to unemployment data in the current market conditions. Trading Economic News to Boost Returns The U.S. economic calendar is followed by most forex traders globally because it has the biggest impact on the currency market. The U.S. dollar is on one side of approximately 88% of all trades in the forex market. While trading economic reports might seem taxing, they can potentially maximize returns on your short-term forex strategy. Following government websites to know the exact release dates and keeping an eye out for unofficial market projections can help you effectively trade forex. This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice. Contact Details CedarFX +1 877-440-9464 info@cedarfx.com Company Website https://www.cedarfx.com/

March 08, 2023 07:00 AM Eastern Standard Time

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