During the past year, CySec hasn’t been shy about becoming a stricter regulator and changing its image of a once-lax regulatory body for one of a reputable, don’t-mess-with-us regulator. We have seen a tough tightening of the screws directly targeted at binary options brokers and call centers
Asian markets closed lower on Monday. The Hang Seng is down by -0.37%, Shanghai Composite is down by -1.21% and Nikkei 225 is down by -0.82%. Aussie and Kiwi markets closed lower on Monday. S&P/ASX200 is down by -0.80% and NZX50 is down by -0.72%
We have revised our USD forecasts higher, expecting a 6% move higher in the Broad USD TWI. Three major policy initiatives as a result of the US election (fiscal stimulus, trade, corporate tax reform) are likely to be USD positive, and we now expect the Fed to hike 6 times by YE18.
European markets are broadly higher today with shares in Germany leading the region. The DAX is up 1.45% while France's CAC 40 is up 0.52% and London's FTSE 100 is up 0.30%.
Italian populists said the last word on Sunday. Italy’s constitutional referendum, which was also a confidence vote for Prime Minister Matteo Renzi, has been rejected with 59%. Renzi resigned amid a heavy defeat. The euro tanked to a 20-month low against the US dollar at Monday’s open.
EU-regulated forex broker Exness said on Monday it has reduced delays in the activation of orders as part of its plan to gradually improve its trading conditions. Almost all pending, stop loss and take profit orders are now executed with an average speed of 29 milliseconds.
Prime Minister John Key will step down on December 12, citing the burden the job placed on his family, and said he would support Finance Minister Bill English as his successor if his deputy puts his name forward. The kiwi dollar dropped on the news that Key, who has maintained persistently high
For the third time since October 24th, the USD/CAD pair failed to break below the previous-resistance-now-turned-into-support which is also the 38% Fibonacci retracement level of 1.3250. Not only that, the upward-moving prevailing Ichimoku cloud is now also acting as a support.
Donald Trump has lashed out again at China, accusing Beijing of manipulating its currency, unfairly taxing U.S. products and militarizing the South China Sea. This followed a tweet-heavy weekend, in which Trump used the social media platform to threaten a 35 percent tax
The Australian Dollar was steady on Monday after news of a pickup in Chinese service-sector output was published. The private Caixin Purchasing Managers Index (PMI) for the sector came in at 53.1 in November, up from 52.4 the month before.
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