Category: Forex

September 07, 2023 BY Elizabeth Anderson

FINMA CEO steps down in the wake of Credit Suisse fiasco

The regulator received a volley of attacks because it did not act soon or effectively enough to stem the tide of wrongdoings at the world-renowned Swiss bank. This includes connections with Lex Greensill, which led to an approximate $1.8bn loss. Many believe FINMA’s communication with big financial institutions was lacking and that it was negligent…

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September 06, 2023 BY Elizabeth Anderson

Bank of England hounded by think-tank over UK interest hikes

The Bank of England (BoE) governor, Andrew Bailey, is due to appear in front of the Treasury Committee to address claims by a think-tank that his economic outlook for 2023 is failing. The Resolution Foundation, an independent British think-tank that aims to bolster low-middle-class income households in the UK, suggested that continued tax hikes for…

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September 06, 2023 BY Elizabeth Anderson

ASIC tightens high-risk and OTC derivatives product distribution

A recent targeted review, which examined the DDO practices of sample financial issuers, found most retail clients lost money when trading CFDs. The ASIC deputy chair, Karen Chester, said:  ASIC is disappointed that some high-risk retail product issuers have changed little in response to their design and distribution obligations (DDO).  DDO requires companies to design…

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September 05, 2023 BY Elizabeth Anderson

U.S. labour market struggles to stay above water

Friday marked a seven-week consecutive rise for the dollar index in comparison with its figures of 99.58 from the same period year-over-year. Industry experts suggest that this favourable standing is set to last, at least for the short-term.   Friday also brought about data showing the slowdown of U.S. employment and wage growth which was greater…

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September 05, 2023 BY Elizabeth Anderson

FOREX.com presents latest trading times survey

To analyze global trading patterns, the experts at FOREX.com conducted a large-scale survey with 3,000 experienced traders, and uncovered the most popular and opportune times for executing trades.  Survey Key Findings:  The first hour of the trading day is the most favoured time to execute trades globally, across all asset classes, according to the survey…

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September 05, 2023 BY Elizabeth Anderson

Another top executive resigns from Binance

A Binance spokesperson confirmed the report to Reuters. Among others, the company also had to bid farewell to its Chief Strategy Officer, Patrick Hillmann, and General Counsel, Hon Ng, during this year. These resignations raise industry eyebrows as they follow scrutiny by authorities, including the U.S. Securities and Exchange Commission (SEC) and the Australian Securities…

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September 04, 2023 BY Elizabeth Anderson

Inflation spikes haunt U.K and eurozone in September

In the U.S., however, initial data for the Federal Reserve showed a 3.8% spike in unemployment, with 110,000 fewer jobs created in August in comparison to June and July, despite the U.S. boasting increased job growth and market economy.  Alongside Hunt’s announcement, the inflation rate in the eurozone remained at a steady 5.3% average for…

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September 04, 2023 BY Elizabeth Anderson

Tech giants on board with investment in Arm IPO

This is stirring up a lot of interest in the intended IPO of the SoftBank-owned Arm, which is aiming for a valuation between $50bn and $55bn. Reports indicate this chip designer plans to price shares between $47 and $51 each when it launches on the market. Considering these figures, Arm will land an offering between…

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September 04, 2023 BY Elizabeth Anderson

SEC sees legal action from 6 groups over private fund rules

The new stipulations oblige private funds to submit quarterly fee and performance reports on top of annual audits. Additionally, funds must disclose specified fee structures and curb the preferential treatment of some investors, especially regarding portfolio disclosures and cash-out abilities.  This industry administers around $20trn in assets. Gary Gensler, the SEC chair, stated these measures…

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