Posted by Matt Simpson | 24/05/2017 22:36 Despite starting the session on a firmer foot, the US Dollar traded lower following the FOMC minutes and expectations for further hikes followed suit. The US Dollar faced further pressure overnight, particularly against commodity currencies as the Fed pinned a data rebound to the likelihood of the hike…
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French bank BNP Paribas (BNPP) has today been struck with a $350 million USD fine by New York State's banking regulator. The bank is being held responsible for its Foreign Exchange “Cartel” manipulating foreign exchange rates, engaging in collusion, executing fake trades, coordinating trades to enhance profits at customers’ expense, and improperly sharing confidential customer…
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Foreign exchange execution services and data analytics provider Curex Group announced today that Kevin Cudahy has joined the company as Managing Director. He will focus on business development and institutional FX sales. A 25 year FX markets veteran, Kevin Cudahy spent the last four years at Bloomberg Tradebook, where he most recently was Head of FX Sales…
Read morePublished on 24.05.2017 20:48 The British pound is under further pressure today, falling for a third straight day after the terror attack in Manchester that left 22 people dead and scores more injured. At 4.45pm (GMT) the British currency was trading at $1.2940 against its US counterpart, down from $1.2962 in yesterday’s trading. Police in…
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Moscow Exchange (MOEX) today announced further collaboration with the Shanghai Stock Exchange (SSE) as the two exchanges signed a strategic cooperation agreement during a meeting in Moscow on Monday of this week, May 22nd 2017. The strategic cooperation agreement focuses on a number of areas of shared interest to MOEX and SSE that can support…
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CySEC and FSC regulated retail forex broker FIBO Group has announced two new upgrades to its MT4 platform trading options for clients - a new MT4 web version called 'WebTerminal MT4', and a new NDD-No-Commission account. WebTerminal MT4 allows FIBO Group clients to enter a virtual MT4 environment using their usual login and password and trade…
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The Bank of Canada (BoC) will announce its rate decision and monetary policy statement this afternoon at 15:00 BST. Be aware that it will likely cause volatility for CAD and USD crosses. Market consensus is that the BoC will keep rates unchanged at 0.5%. USD/CAD has seen a substantial 1.7% retracement since May 5th caused…
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Saxo Bank has seen a lot of change lately. And much of it the good variety. The company has a new largest-shareholder in Chinese industrial giant Geely Group. Co-founder Lars Seier Christensen, although not involved in day-to-day management for two years, cut his formal ties to the company by selling his stake to Geely. There have…
Read morePosted by Naeem Aslam | 24/05/2017 13:17 No rabbits are expected out of OPEC’s hat on Thursday, when OPEC is expected to announce the reduction of the supply gut. The joint efforts of the OPEC cartel with non-OPEC producers dating back to October 2016 initially resulted to a curb of nearly 1.8 million in the first month. Saudi…
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UK financial regulator The FCA has announced that the Central Criminal Court has made confiscation orders against the two final defendants who were convicted of offences following one of the FCA’s largest investigations into unauthorised activity. The FCA’s investigation, known as Operation Cotton, led to eight convictions and this week’s orders mean a total of £2,195,496…
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