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EU fines Credit Agricole, HSBC, JPMorgan

EU fines Credit Agricole, HSBC, JPMorgan

The European Commission fined banks Credit Agricole, HSBC and JPMorgan Chase a total of 485 million euros ($520 million) for their part in a cartel to fix the price of financial benchmarks linked to the euro. They were part of a seven-bank cartel that colluded between September 2005 and May 2008

By CNBC, Posted on December 07, 2016

Bonds rise as investors focus on data

Bonds rise as investors focus on data

U.S. government debt prices were higher on Wednesday as investors eyed economic data as well as the upcoming Federal Reserve meeting. The yield on the benchmark 10-year Treasury notes, which moves inversely to price, was lower at around 2.367 percent

By CNBC, Posted on December 07, 2016

Microsoft gains EU approval to buy LinkedIn

Microsoft gains EU approval to buy LinkedIn

Microsoft (MSFT.O) won EU antitrust approval on Tuesday for its $26 billion bid for professional social network LinkedIn (LNKD.N), its largest ever acquisition, after agreeing to a series of modest concessions. The deal, which has already received the green light in the United States

By Reuters, Posted on December 07, 2016

Citi says behaved appropriately in sterling

Citi says behaved appropriately in sterling "flash crash"

Citi said on Wednesday that its trading operations functioned appropriately in a thin and illiquid market during October's "flash crash" in sterling, responding to a Financial Times report saying a trader at the U.S. bank exacerbated the pound's fall.

By Reuters, Posted on December 07, 2016

Technical View on USD/JPY

Technical View on USD/JPY

Technical analysis shows USD/JPY made a triple bottom pattern in 3Q16 and began an uptrend in 4Q16. We think the uptrend will continue in 2017 and will look for additional signals such as a close through the weekly Ichimoku cloud and declining 100wk SMA.

By EFX News, Posted on December 07, 2016

China’s forex reserves drop $70bn

China’s forex reserves drop $70bn

China’s foreign exchange reserves fell nearly $70bn last month as the country’s central bank burnt through more of its war chest in its battle to defend the renminbi from greater depreciation on the back of accelerating capital outflows. Reserves at the People’s Bank of China fell $69.1bn

By Financial Times, Posted on December 07, 2016

Trump takes credit for $50 billion SoftBank

Trump takes credit for $50 billion SoftBank

The head of Japan’s SoftBank Group, which in October set up a $100 billion fund for technology investments, said on Tuesday he would invest $50 billion in U.S. businesses, a move President-elect Donald Trump claimed was a direct result of his election win.

By Venture Beat, Posted on December 07, 2016

Asia - Pacific Opening Update

Asia - Pacific Opening Update

Asian markets opened mixed on Wednesday. The Nikkei 225 is up by 0.40%, Hang Seng is up by 0.30% and Shanghai Composite is down by -0.05%. Aussie and Kiwi Markets opened mixed on Wednesday. ASX200 is up by 0.76% and NZX50 is down by -0.01%.

By CNBC, Posted on December 07, 2016

U.S - Euro Markets Closing Update

U.S - Euro Markets Closing Update

US markets closed higher on Tuesday. DJIA is up by 0.18%, Nasdaq is up by 0.45% and S&P500 is up by 0.34%. European Markets closed higher on Tuesday. Dax is up by 0.85%, CAC is up by 1.26% and FTSE is up by 0.49%.

By CNN Money, Posted on December 07, 2016

Pause in dollar strength is merely a consolidation

Pause in dollar strength is merely a consolidation

Dollar (USD) strength and yen (JPY) weakness has delivered a “death cross” for the Japanese currency. The phenomenon, watched by forex traders of a technical bent, occurs when the 50-day moving average moves below the 200-day moving average.

By Financial Times, Posted on December 07, 2016

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