Forex News
Get Ready for a Rate Cut! PBOC Eases Requirements for 1-Year MLF Loans, LPS Ahead of Anticipated Cut – A Quirky Take on the Latest News
The People’s Bank of China Makes Significant Rate Cuts What the Cuts Mean for China The People’s Bank of China has recently announced a cut to the 7-day reverse repo rate, lowering it to 1.70% from 1.80%. Additionally, they have eased requirements for Medium-term Lending Facility (MLF) loans. These moves indicate a shift towards a…
Executive Moves of the Week: FINRA, eToro, IG Group, and More
The Weekly Roundup: Executive Moves in Key Sectors Overview This week, the number of executive moves in various sectors saw a decrease compared to last week. Despite this overall decrease, there were notable moves in the fintech, regulation, forex, and proprietary trading sectors. These moves are expected to have a significant impact on the industry…
Breaking News: IC Markets Fined $200k by CySEC for Allegedly Offering Excessive 10,001 Leverage – What This Means for Forex Brokers
The Cyprus-regulated entity operating the IC Markets brand, IC Markets (EU), has been fined €200,000 by the Cyprus Securities and Exchange Commission (CySEC) for “knowingly and intentionally” violating leverage rules. Violating Leverage Restrictions According to the regulatory announcement today (Friday), the broker’s Cyprus-regulated entity offered its customers up to 1000:1 leverage levels by onboarding them…
Canada’s May Retail Sales Exceed Expectations at 0.8%, Surpassing Projected 0.6%: A Positive Sign for the Canadian Economy
Canadian Retail Sales Data Disappoints Expectations Prior Data Revised Slightly Downward In a surprising turn of events, the latest Canadian retail sales data has shown a slight decrease from previous expectations. The prior figure, originally reported at +0.7%, has been revised downward to +0.6%. Excluding autos, sales showed an even steeper decline, coming in at…
Unpacking the Dollar’s Rise: A Reflection on Risk Aversion and Quiet Trading
Unpacking the Dollar’s Rise: A Reflection on Risk Aversion and Quiet Trading Description: Risk aversion continues to support Dollar in relatively quiet trading today. Both Sterling and Canadian Dollar weakened mildly after worse-than-expected retail sales data. Euro shrugged off dovish comments from some ECB officials. Meanwhile, Yen softened slightly following lower-than-expected CPI core reading. However,…
Uncovering the Truth: Examining Gold’s Technical Analysis – A Temporary Dip or a Deceptive Move?
Gold Price Retreats After Reaching New All-Time High What Does the Future Hold for Gold Investors? By: Expert Analyst Gold has been on a steady retreat since hitting a new all-time high on Wednesday. The price tonight fell below the previous key resistance at 2430 level, and some might start questioning if this is just…
Global IT Outage Causes Tech Shares to Plummet in Europe: A Morning Market Update
It is just about everywhere and the Australian government has even called an emergency meeting amid the whole fiasco. Trading brokerages are also impacted but that hasn’t stopped the selling in the meantime. S&P 500 futures are now down 0.3% on the day with Nasdaq futures down 0.5%.Microsoft shares in Frankfurt are also down nearly…
Oops! AMEX Gets Slapped with AU$8 Million Fine for Breaking Aussie Credit Card Sale Rules
American Express in Hot Water for Breaching Design and Distribution Obligations American Express has found itself in the spotlight once again, this time for breaching the design and distribution obligations (DDO) set forth by the Australian Securities and Investment Commission (ASIC). The credit card giant was recently ordered by an Australian court to pay AU$8…