GOLD Gold is shining with the spot price closing in on its 7-year-high at $1,700. Bullion rallied after the announcement of the Federal Reserve’s new coronavirus stimulus. Another $2.3 trillion of lending will be in the system to soften the impact of the pandemic emergency. As mentioned in previous comments, markets are understanding and pricing…
Read moreAsian stocks climbed to one-year highs on Monday. The Australian dollar also rose as investors' hunt for yield gathered momentum against a backdrop of a recovering U.S. economy and easy global monetary policy conditions. The U.S. Department of Labor said July non-farm payrolls rose by 255,000 and revised the June increase upward to 292,000. The…
Read moreSterling sinks to new depths on Brexit anxiety, dropping to new 31 year lows around the 1.2800 level against the US dollar and even lower against the yen and the euro. The combination of some Brexit effects already starting to become definite and this week’s slowdown in recent economic data may seem a bit like…
Read moreJohn Hardy, Head of FX Strategy at Saxo Bank, takes a look at today's steep drop in the Australian Dollar and the day's other key events and indicators. More of John's research can be seen at Saxo Bank's TradingFloor.com. [divide] The Aussie was ripped for steep losses overnight on a weak CPI print that gapped…
Read moreAPX Chief Operating Officer, David Lawrence: "A critical facilitator of capital flows between Australia and China will be a trading and settlement platform allowing APX listed securities to be traded (and settled) in both Australian and Renminbi denominations."
Read moreWith effect from 5.00pm EST on Monday January 26, minimum security deposits of between 3% and 20% will apply to 5 currencies, which in accordance with NFA ruling, should be collected and maintained by Forex Dealer Members
Read moreChinese authorities have thrown the gauntlet open by establishing an official yuan clearing hub in Sydney, giving increased hope to Western market participants wishing to do business in China
Read moreTrade and business ties to strengthen further after the implementation by mid-2014 Major Australian stock exchange ASX has issued a press release outlining an agreement between the Bank of China and ASX to provide Chinese Yuan settlement services to the Australian and Chinese financial markets by the middle of this year. The agreement was signed…
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