In less
than two weeks, the Finance Magnates Africa Summit (FMAS:23) will officially be
underway. The inaugural launch of FMAS:23 will be held in Johannesburg, South
Africa on May 8-10 at the prestigious Sandton Convention Centre, one of the
most luxurious and well-known districts country.

With the
event right around the corner, attendees are encouraged to take advantage of
exploring FMAS:23 detailed agenda. The 2.5-day event includes a robust slate of
sessions, panels, workshops, and much more.

If you
have not already done so, the full agenda for FMAS:23 is already live and can
be accessed by the following link. A total of
four industry verticals are being covered at length during the summit, focusing
on online trading, payments, fintech, and blockchain & digital assets.

Trade
GPT: AI and Innovation in Trading Technology

The latest breakthroughs in generative AI have taken the
world by storm, and the world of trading is no exception. With AI taking the
media and world by storm seemingly overnight, it’s natural that this trend be
covered at length at FMAS:

This includes one of the event’s most hyped panels this
May, Trade GPT: AI and Innovation in Trading Technology, taking place on May 10, 14:00-14:40 at
Centre Stage.

In this
session, seasoned experts will share the impact they see on the industry, and
reveal the tools, features, and platforms they are building to make brokers and
clients prosper. This panel for FMAS:23 will include the following talented speakers:

• Wassim
  Khateeb, Chief Commercial Officer, FXCUBIC
• Yakubu
  Teri Ishaku, CEO/ Founder, Kwakol Markets
• Ran
  Strauss, Founder & CEO, Leverate
• Cristian
  Vlasceanu, CEO, Centroid Solutions
• (Moderator)
  Ankit Shah, Global Head of Fintech, GTN

According to Mr. Khateeb, “I believe it is a very hot
topic these days following the rapid emergence of AI softwares and we will be
discussing the implications it can have on Financial trading.”

Indeed, “With the evolution of the ‘GPT’ side of AI,
democratising AI driven trading models to investors / traders can be a game
changer. There will initially be some fear followed by errors and then
stabilisation before eventually acceptance and integration. We have a long way
to go, but this is the direction the trading world is moving towards, and it
will only get more interesting from here,” explained Mr. Shah.

The panelists
will also look to answer the following questions: What chat GPT3 and 4 can, and
cannot, do for traders and industry participants? How can fintech firms utilize
the new AIs to increase efficiency? What has been achieved in automation and
what is yet to come? Which trends will define 2024 in retail trading?

“In today’s fast paced financial markets, AI brings
many new opportunities and advantages that empower investors and traders, by
automating solutions for brokers. Brokers should empower their traders by
integrating with a provider that offer the most advanced AI trading features,
so that on their website or mobile app, they can make more informed decisions,
reduce their risks, speed up their response time, and increase profitability,” noted
Mr. Strauss ahead of
the event.

Find out
the answers to these questions and much more this May.

FMAS:23 – The Event of the Year

The
largest event of the year in Africa is expected to draw upwards of 3000+
attendees, 70+ exhibitors, 100+ brokers, and 50+ speakers. Each attendee is also
available to discuss, engage, and network with during the duration of FMAS:23.

Of
course, the aforementioned panel is just one of several different sessions available
for attendees at FMAS:23. With such a diverse content track, there is truly
something for all attendees!

Join other
industry leaders, executives, brands, and traders to discuss the future of
trading on the continent, fintech opportunities, and much more.

“Since this is the first time this event is held in South
Africa, we are keen to explore cooperation opportunities, meet with partners
from the region and engage with new potentials,” stated Mr. Vlasceanu.

FMAS:23 will
be attracting the biggest talent, individuals, and brands in the industry. All
attendees are encouraged to mingle and engage with each other in what will be
an unforgettable event.

See you
in Johannesburg this May!

This article was written by ForexLive at www.forexlive.com.

• EUR/USD stays in the hunt for that upside break this week
• A warning signal on China’s post-Covid recovery
• Eurozone April final consumer confidence -17.5 vs -17.5 prelim
• SNB provided $121 billion in emergency liquidity to support UBS‘ takeover of Credit Suisse
• Goldman Sachs raises forecast for BOE rates to peak at 5%

Markets:

• NZD leads, CHF lags on the day
• European equities mixed; S&P 500 futures up 0.5%
• US 10-year yields up 3 bps to 3.46%
• Gold up 0.5% to $1,998.35
• WTI crude up 0.5% to $74.65
• Bitcoin up 1.9% to $28,950

It was a quiet session for the most part as headlines were few and far between in European trading today. A lack of key economic releases didn’t help with that as markets settled into a more sideways mood on the session.

Regional equities are mostly little changed but recovered after a mildly softer open, as US futures – tech in particular, again – are buoyed on the day. Bond yields are also holding slightly higher and that is keeping the calm ahead of the US Q1 GDP data later as well as some key risk events on Friday tomorrow.

The mood in FX was more lackadaisical with the euro, pound and yen all keeping little changed against the dollar.

The only decent movers were the antipodeans, which already came during Asia. AUD/USD is up slightly by 0.3% to 0.6615, recovering a bit from six-week lows. Meanwhile, NZD/USD is up 0.5% to 0.6150 as sellers lack some follow through to test the 0.6100 mark.

There’s not much else to comment as it was a bit of a placeholder session, so we shall see if markets will have any appetite to move after the US data later. If not, it might be a bit of a wait until tomorrow’s events.

This article was written by Justin Low at www.forexlive.com.

They lowered their forecast from 5% to 4.75% towards the end of last year but are now switching it back. A 25 bps rate hike for next month is almost a given now as inflation pressures continue to persist but will we see policymakers be able to keep tightening until 5%? The current market pricing is definitely suggestive of that potential, though less assured as it was last week:

This article was written by Justin Low at www.forexlive.com.

The amount was CHF 108 billion, so that roughly equates to $121 billion in dollars. Because of that, secured loans and loans under emergency law in Q1 surged to CHF 112.4 billion as opposed to just CHF 4.4 billion in the same period a year ago.

For some context, the liquidity provided here is mostly for loans against collateral under the SNB’s normal facilities but also emergency aid granted to the big banks after the run on Credit Suisse last month.

The numbers above may look scary but fret not, things have calmed down considerably as evident by the weekly sight deposits data.

This article was written by Justin Low at www.forexlive.com.

The dollar is little changed against most major currencies, with EUR/USD still sitting in a less than 30 pips range on the day. The pair is stuck around 1.1035-50 mostly on the session as traders continue to weigh up whether or not the euro has the potential to break out on the week.

USD/JPY is also flat at around 133.70 at the moment while GBP/USD is down 0.2% to 1.2445 but not really indicative of much on the week. For the latter, the 1.2500 threshold remains key for any upside breakout.

Elsewhere, AUD/USD is up 0.2% to 0.6610 but just off fresh six-week lows from yesterday while NZD/USD is up 0.4% to 0.6140 as sellers are not yet able to find added impetus to retest the 0.6100 mark from the March lows.

In other markets, we are still seeing more of the same as noted here earlier. It is quite the snoozefest until we get to the US Q1 GDP data later it would seem.

This article was written by Justin Low at www.forexlive.com.