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FCA Crypto Ban, $13 Billion E*TRADE Sale, Morris Coin Arrest: Editor’s Pick
Photo: FM
In a busy week for news, here are the stories that dominated the worlds of forex, fintech and crypto, in our picks of the week segment.
‘Morris Coin’ Ponzi Scheme Busted: 36-Year-Old Man Arrested in India
As Finance Magnates reported at the start of the week, a 36-year old man has been a
Court Fines Michael Salerno $1.2M for Operating Fake FX Businesses
Photo: Finance Magnates
A Pennsylvania court has granted the US Commodity Futures Trading Commission’s motion for a default judgment against a Mount Laurel man, who operated three FX brands that conned victims out of hundreds of thousands of dollars.
Specifically, the U.S. derivatives regulator al
Dollar rebound an opportunity for fresh shorts - Westpac
The firm says any further rebound in the dollar would provide a good opportunity to engage into fresh shorts against the currency
The firm's senior FX strategist, Sean Callow, says that the dollar rally this week has been driven by evidence that the US economy is rebounding quicker in Q3 and that
Partnering with the Best – How Moneta Markets has Stayed Ahead of the Competition
Photo: David Bily, Founder of Moneta Markets
2020 has been an integral year for many brokers in the forex market. As competition ramps up given a groundswell of new clients, the ability to stay on top is harder than ever.
Finance Magnates spoke with David Bily, Founder of Moneta Markets for his pe
EUR/USD Mid-Day Outlook
Daily Pivots: (S1) 1.1705; (P) 1.1757; (R1) 1.1791;
Intraday bias in EUR/USD stays neutral and outlook is unchanged. As long as 1.1695 support holds, further rise could still be seen. On the upside, break of 1.1916 will target will extend larger rally from 1.0635 to 161.8% projection of 1.0774 to 1.
RBA Holds Key Rate At Record Low
Australia's central bank maintained its interest rate at a record low and quantitative easing unchanged as the package unveiled in March is supporting the economy as expected.
The board of Reserve Bank of Australia, governed by Philip Lowe, decided to maintain cash rate and the targeted yield on
AUD falters again on approach to 0.70 US cents
AUD - Australian Dollar
The Australian dollar crept higher through trade on Wednesday, buoyed by a softer USD and an uptick across equities and commodity prices. Having traded sideways through much of Wednesday the AUD regained upward momentum, again closing in on 0.70 US cents. The AUD touched intr
Breaking: USGFX Enters into Voluntary Administration
Photo: Bloomberg
Union Standard International Group PTY LTD (USGFX) has revealed to Finance Magnates via a statement that it has entered into voluntary administration on the 8th of July 2020.
According to the company, it has gone into voluntary administration to allow USGFX to restructure so that
WTI in very choppy ranges in distribution territory, eyes on shale market
WTI struggle in major supply territory and amongst COVID-19 uncertainty.
US shale has been hurting and West Texas shale takes the cake.
Crude oil prices gained overnight but have since struggled to maintain the momentum as the price rallies into supply territory in the $40 handle.
A better-than-e
Global risk sentiment to drive the price action
It is an important week from US data point of view. We have the June ADP private payroll data, ISM manufacturing and FOMC minutes on Wednesday. We have the NFP data for June on Thursday, Friday being a US holiday.
We saw the nationalized banks aggressively buying USD, likely on behalf of the RBI a
Australia's Private Sector Logs Sharp Fall In May
Australia's private sector contracted substantially in May as ongoing measures to contain the spread of the coronavirus continued to hit demand, survey results from IHS Markit showed Wednesday.
The Commonwealth Bank services Purchasing Managers' Index climbed to 26.9 in May from 19.5 in the previous
Pull-up Update