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
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
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
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.
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.
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
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.
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%.
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%.
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.
World Forex Brokers © Copyright 2015. All Rights Reserved