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Trump bans Tik Tok and WeChat as clamp down on China firms intensifies.

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Ahead of the Non-Farm payroll, which is the data statistic which causes the most volatile movement in the foreign exchange market, the dollar is gaining ground due to intensifying Sino-American relations.

The President of the United States, Donald Trump has also hit TikTok and WeChat – two prominent Chinese tech firms – with strict restrictions. Limiting their ability to do business in the US. The Donald Trump administration is worried that the tech firms are syphoning data illegally

The United Kingdom exit from the European union which is also known as Brexit – another ongoing theme from 2016 alongside Trump – is also back to the headlines. The UK government lead by prime Minister Boris Johnson will be allocating £355 million pounds to customs controls between Great Britain and Northern Ireland – a customs border in the Irish Sea. Sparking fears of a no-deal Brexit.

Prime Minister Boris Johnson had been retorting  the need for such checks and this move is coming under criticism that adds to his mishandling of the coronavirus crisis.

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Forex Trading

Gold dips after pmi release

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XAUUSD prices have slipped back towards where they traded for most of June. This is despite US yields and the dollar slipping back a little, which makes me think this move is more technically driven, than being a more bearish signal.

The yellow metal ran into resistance just above USD 1,835, around the same area it struggled a couple of weeks earlier. As long as it holds above USD 1,795, the outlook looks favourable. A move above that resistance zone could give the yellow metal a bit of a kick, with USD 1,855 then being key above here.

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Agri-Tech

You can now assign Nairaforex traders to your funds.

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Nairaforex one of Nigeria’s leading trading services has now opened their  functionality to the general public. With Nairaforex, users can now assign the best remote professional forex traders to their capital and earn returns within a specific period.

Nairaforex who employs traders who work remotely across Nigeria, South Africa, Kenya, Germany, France and other countries. With Nairaforex, you can easily assign these traders to your funds to trade on your behalf and get back reasonable returns at the end of a specified duration.

Each trader posses a different money-back guarantee, deliver within different periods and have different returns on the funds. Nairaforex has also included the functionality of assigning more than one trader to your funds for preferential purposes.

Go to Nairaforex.com to join Nairaforex now, and for more information.

Stay tuned to Nairainvest for more investment opportunities and do not forget to subscribe to our newsletter for news at your doorsteps.

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Forex Trading

NZD/USD continues bullish move.

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The New Zealand Dollar and United States dollar pair closed at its highest since March 4th on Monday, extending last month’s bottom.

The breakout above the 23.7% Fibonacci extension at 0.7175 and falling resistance from February have been confirmed, exposing the 38.2% level at 0.7318. Beyond the latter sits peaks from 2018, making for a critical zone of resistance between 0.7397 and 0.7438

Stay tuned to Nairainvest for more investment opportunities and opportunities and do not forget to subscribe to our newsletter for news at your doorsteps.

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