The currency dubbed ‘gold 2.0’ briefly traded above the price of its long term store of value competitor Yes, it has finally happened – gold has been dethroned as a store of value and an inflation hedge! Oh well, maybe it’s too soon to predict the doom of an age old currency such as physical gold…
Read moreAfter the multiyear lows reported last month an obvious pickup is firming up on FX futures trading The derivatives market place CME Group has just announced its volume metrics for the month of November. The numbers came out at 718,000 contracts which looks much better than last month’s multiyear lows, however the amount is still lower from…
Read moreGlobal transaction services organization SWIFT releases global market share data for CNY at 8.66% in October The internationalization of the Chinese currency is gathering pace as the Renminbi appears to have achieved another milestone in the month of October according to global transaction services organization SWIFT. The market share in global trade denominated in CNY…
Read moreRussian FX traders lose a bit of appetite towards the end of an otherwise very active year The FX market turnover on the Moscow Exchange is continuing its drop in activity. They have reported their volume metrics figures for the month of November and the result is a drop of about 12% to RUB 12.3…
Read moreWill KCG look to sell other assets -- including Forex ECN KCG Hotspot? KCG Holdings -- the company resulting from the merger of Knight Capital and Getco -- formally announced today it had closed its $80 million sale of reverse mortgage originator Urban Financial, a transaction we reported would happen back in July. Following the merger,…
Read moreFormer PayPal and Citi exec Ed Eger is in, K Duker is out. Changes abound at Oanda. After replacing its CFO, and appointing a new CMO, Chief Strategy Officer and new Chief Technology Officer, now comes the big one. Oanda is replacing CEO K Duker with Ed Eger. Eger joins Oanda from PayPal (an eBay company,…
Read moreA meager 5% gain, but recovery in retail volumes looks steady, bringing us closer to the mean Saxo Bank has reported its November volume metrics this afternoon and the numbers keep gradually picking up from the slump observed at the end of summer. Monthly volumes were registered at $251 billion which is a rise of…
Read moreThe Oanda Trade Leaders Program provides copy trading functionality within existing accounts It is only a couple of months since Oanda acquired social trading service Currensee and the first results from the takeover are starting to appear. Over the weekend the Canadian forex brokerage Oanda Corporation introduced its new platform feature called OANDA Trade Leaders…
Read moreScotland government white paper (purposely) leaves out any mention of a Scottish currency Scotland's government, led by Alex Salmond’s Scottish National Party, tabled its ‘White Paper’ on Scottish independence earlier this week, and it was as notable for what was NOT in it as for what was. One of the main omissions was talk of…
Read moreRetail forex brokers making it easier for China clients to deposit and trade Cyprus based retail forex broker ForexTime has announced that it is starting to accept card transactions denominated in CNY through China UnionPay (CUP). This is the only bank card organization which is based in China operating under the supervision of the People's…
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