FNG Exclusive… FNG has learned that China based Retail FX and CFDs broker EBC Financial Group is accusing a former Director of its UK-based, FCA-regulated arm EBC Financial Group (UK) Ltd of misappropriating funds from the company’s bank account. EBC write-off EBC UK has taken a write-off of £747,000 (just under USD $1 million) as…
Pile of money by Atlantagreg via iStock The dollar index (DXY00) rallied to a 13-month high on Thursday, finishing up by 0.80%. The dollar rose on Thursday on carryover support from Wednesday, when the FOMC projected higher interest rates later this year. Thursday’s US economic news was also supportive of the dollar as weekly jobless…
The BoE-Fed policy divergence is dragging GBPUSD lower. A weaker pound is a pro-inflationary factor for the UK. The US dollar recorded its best daily performance since early March, thanks to a hawkish surprise from the Fed. Nine FOMC members indicated in their forecasts that one or more federal funds rate hikes would occur in…
Gold’s overall trend: Bearish. Today’s Gold Support Points: $4,220 – $4,170 – $4,070 per ounce. Today’s Gold Resistance Points: $4,320 – $4,380 – $4,440 per ounce. Today’s Gold Trading Signals: Bullish Scenario: Buy gold from the support level of $4,180, with a target of $4,350 and a stop loss at $4,130. Bearish Scenario: Sell gold…
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The Nasdaq 100 rose a bit on Wednesday, as we are testing the crucial 30,000 level, an area that is also supported by a gap underneath. NASDAQ 100 The Nasdaq 100 has rallied slightly during the early part of the session here on Wednesday, as the 30,000 level has offered support 3 days in a…
The silver market sees a bit of consolidation at the moment, as we are looking at the possibility of peace in the Middle East, allowing interest rates to drop. Silver The silver market was very noisy during the trading session on Wednesday, as we are just hanging around the $70 level. The $70 level, of…
The Swiss National Bank (SNB) in Bern, Switzerland, on Thursday, Dec. 12, 2024. Stefan Wermuth | Bloomberg | Getty Images The Swiss National Bank said on Thursday it is ready to intervene in foreign exchange markets if a rebound in demand for the safe-haven franc drives the currency higher. It came as the central bank…
Bearish view Sell the BTC/USD pair and set a take-profit at 60,000. Add a stop-loss at 68,000. Timeline: 1-2 days. Bullish view Buy the BTC/USD pair and set a take-profit at 68,000. Add a stop-loss at 60,000. The BTC/USD pair retreated slightly after the Federal Reserve delivered a hawkish interest rate decision and as demand…
Key takeaways The Federal Reserve delivered a hawkish hold and signalled a major policy regime shift. While rates remained unchanged at 3.50%-3.75%, Chair Kevin Warsh abolished traditional forward guidance, reinforcing a data-dependent approach and increasing the likelihood of higher market volatility. Higher-for-longer interest rate expectations pressured risk assets. The S&P 500 fell 1.2%, the Nasdaq…