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Here's the CURRENCY HUB Monthly Market Update, reflecting on last month's trading and the short-term expectations.
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Monthly Client Profit Summary
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Commentary From the Trading Desk.
October proved to be one of the more challenging months of the year, but the trading desk remained resilient, showing patience and taking advantage of the brief opportunities that did arise. Client net returns reached highs of 1.61%, lows of 0.24%, and averaged 0.89%.
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The ZAR weakened by around 40c in October, influenced by several factors. The U.S. election, described as one of the closest in history, created market uncertainty, with Trump still favoured to win, resulting in USD strength. Historically, the premium tends to compress in the final quarter due to lower volumes, a trend we understand and navigate to get the best returns for you. Additionally, U.S. economic data in October suggests a potential rate cut, which would typically support ZAR strength
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In the crypto space, Donald Trump has been seen as a pro-crypto figure, and with the upcoming election seemingly leaning in his favour, cryptocurrencies have surged to new highs in response. Another exciting development comes from Circle, the leader in stablecoins, which has partnered with Hong Kong Telecom (HKT) to launch a blockchain-based loyalty system for merchants in Hong Kong - a significant step forward in the stablecoin sector.
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While the premium is likely to stay constrained for the rest of the year, we will continue to trade within your set allowance, aiming to achieve the best possible return on your investment.
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Trading Statements Update
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Noting the upgrades a few months ago, reminder your trading statements are only accessible off your personal dashboard on CURRENCY HUB.
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Latest Media
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Recent interview with FAnews, discussing the arbitrage landscape, opportunities, risks and how CURRENCY HUB holds it all together with FSCA licenses and active trading strategies.
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Referral Program - Earn a 5% - 20% of our profits
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For more info follow the link below. If you think you can refer larger communities, enquire about our "Whale Referral Program".
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Join our Telegram / WhatsApp Group
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Please join our Telegram and/or WhatsApp group. The purpose of these social media groups is exclusively for broadcasting news about the Premium and related market conditions.
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Thanks for your continued support.
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