USD/CAD Daily Fundamental Analysis for July 21, 2011

The USD/CAD pair extended its drop on Wednesday to reach a 2-1/2 month low, as the Bank of Canada released its monetary policy report, which signaled that economic activities are expected to pick up in the second half of this year, while the BOC also expects inflation risks to rise amid rising energy prices, while the BOC signaled it could raise interest rates gradually during the second half of this year, which provided the CAD with strong momentum to push the USD/CAD pair to the downside.

Meanwhile, sentiment in global financial markets remained positive, as U.S. companies continued to announce better than expected earnings, which boosted confidence in markets, and increased demand for higher yielding assets, which weighed down on the USD against the CAD. Moreover, crude oil prices were slightly higher after the EIA report showed crude oil inventories fell below expectations, which provided the CAD with further momentum against the USD.

If the positive sentiment continues to dominate financial markets, we should expect the USD/CAD pair to extend its drop on Thursday, although markets will remain focused on the latest developments in Europe and whether EU leaders will reach a resolution to the debt crisis in the Euro Zone, while news reports suggest that U.S. lawmakers are close to reaching a deal to raise the debt ceiling, and traders will be following the latest developments from the U.S. Congress.

Thursday July 21:

The US will start Thursday as usual at 12:30 GMT with the weekly jobless claims, which are expected to rise to 410 thousand after they eased the previous week to 405 thousand.

At 14:00 GMT the Leading Indicators for June are due and expected to ease to 0.2% from 0.8%. At the same time the Philadelphia Fed Index for July is also due and expected with improvement to 2.0 rebounding from -7.7.

Forex News – Strong Earnings and News of Debt Compromise Deal Overshadow Worse than Expected Existing Home Sales

Mixed feelings dominated financial markets on Wednesday, where investors were hopeful that U.S. lawmakers will reach a compromise deal to raise the debt ceiling before an August 2, deadline set by the Treasury Department, in addition to more bright financial results from U.S. companies, as the earnings season is proving to be a strong one so far, while worse than expected data from the United States put negative pressure on confidence, where existing home sales fell below expectations in June.

The existing home sales index was released for the month of June, where sales of previously owned homes fell 0.8% to an annual rate of 4.77 million units, compared with the prior estimate of 4.81 million units, and below median estimates of 4.90 million units.

Stocks in theUnited Stateswere mixed by opening on Wednesday, where the Dow Jones Industrial Average was down by nearly 0.10% to trade around 12,576, while the S&P 500 index was up by nearly 0.06% to trade around 1328. European stock indexes were also mixed before closing on Wednesday amid optimism ahead of a meeting between Angela Merkel and Nicolas Sarkouzi, where FTSE 100 was up by nearly 0.60% to trade at 5826 and the DAX was lower by nearly 0.10% to trade around 7185.

The U.S. dollar declined against a basket of major currencies on Wednesday, where the U.S. dollar index was trading at 74.94, compared with the opening level at 75.16. The Euro rose against the Dollar, where the EUR/USD pair traded at $1.4197, compared with the opening level at $1.4170, and the British Pound was little changed against the Dollar, where the GBP/USD pair traded around the opening level at $1.6126.

Gold prices were little changed on Wednesday after falling on Tuesday from a new record high at $1609.92 an ounce, where gold was trading around $1590 an ounce, and crude oil prices slightly rose to trade around $98 a barrel after the EIA report showed that crude oil inventories fell last week below expectations.

GBP/USD Daily Fundamental Analysis for July 21, 2011

On Wednesday, the pound showed slight advance against the dollar as hopes that EU leaders will be able to put a plan to avoid Greek default and US proposedUSplan to overcome debt problem boosted demand on higher-yielding currencies.

Minutes for July’s rate decision did not show any surprise as voting came similar to June with 7-2 for holding interest rate unchanged and 8-1 for the APF. The pound rose after the minutes but probably due to the weakness in the dollar.

Now, the BoE is predicted to keep lose monetary policy despite their expectations that inflation would rise above 5% in the coming months as they see factors triggering inflation temporary in nature, where they give higher priority to reinvigorating growth.

On Thursday, as of 08:30 GMT, UK public finance excluding interventions will show a contraction in deficit to 12.8 billion pounds in June from 17.4 billion pounds in May, according to median estimates, while retail sales with auto fuel report, due at the same time, is projected to witness 0.5% increase in June compared with the 1.4% fall recorded in May.

Both reports are expected to have an impact on the pair’s movements due their importance, especially if it beat or missed analysts’ forecasts.

In theU.S., initial jobless claims for the week ending July 16 and continuing claims for the week ending July 9 will be available at 12:30 GMT. Thereafter, leading indicators and Philadelphia Fed for the month of July are due at 14:00 GMT.

Jobless claims report is expected to be carefully watched by investors after the downbeat labor figures seen in the latest jobs report.

USD/CHF Daily Fundamental Analysis for July 21, 2011

On Wednesday trading, the dollar slipped against a basket of major currencies including the Swiss franc. Tensions in the market eased to some extent on hopes European leaders will come out with a plan forGreeceandUSborrowing problem would be resolved.

U.S. Existing homes sales data showed 0.8% fall in June, yet higher than the prior 3.8% drop recorded in May.

On Thursday, at 09:00 GMT, the Swiss economy will release its only data for the week which is trade data for June with exports and imports during the month. The data will be under scrutiny as the recent reports showed that Swiss companies were negatively affected by the franc’s appreciation as it weighed on oversees sales.

Moreover, US initial jobless claims for the week ending July 16 and continuing claims for the week ending July 9 will be available at 12:30 GMT. Thereafter, leading indicators and Philadelphia Fed for the month of July are due at 14:00 GMT.  Attention will be given toU.S.labor data after the latest downbeat jobs report.

AsU.S.policy makers are on the track to find a solution to the debt problem, the dollar may gain some advance, while the Swiss trade data may determine the SNB coming action as Swiss policy makers revealed previously that further appreciation of the franc is not welcomed by the bank.

EUR/USD Daily Fundamental Analysis for July 21, 2011

The volatility remained high in the market on Wednesday one day ahead of the summit which kept the EUR/USD fluctuating on expectations for the actions to be taken.

We have reached the focus of the week and Thursday will be the “make or break” decision by Euro Area leaders as Papandreou called it. The expectations are not that upbeat for the leaders to reached a solution yet the euro has been unwinding some losses on eased worries and more confidence that the leaders have no other solution but to reach a final agreement to ensure financial stability.

In a statement ahead of the Brussels summit the European Commission Jose Manuel Barroso said that “Nobody should be under any illusion: The situation is very serious” which is very true and urged the leaders to reach common grounds on measures to sustain Greek public finances, the private sector’s role, the scope of EFSF, repair the banking sector, and measures to ensure the provision of liquidity in the banking system. The wide range of critical topics highlighted where some comfort to the market especially that the Greek finance minister said a decision is “attainable” at the summit and the meeting between Sarkozy and Merkel translated into hope that progress is taking place.

Trading on Thursday will be very choppy and the movement over the coming period will be defined by the decisions made by leaders. The strong decision to salvage Greece and prevent the contagion spread and possible aid the nation while averting a selective default status will surely support the euro strongly.

On the other hand, patchy solutions to the crisis will only give temporal relief for the euro and not sustain the gains. The likelihood for a logical deal by leaders is growing especially as they are running out of options, yet a shaky statement and no decision will be very devastating on the market and might renew the global selloff once again.

The day will also be full of fundamentals from the euro area and the Untied States that will further increase the volatility.

Germany will start with the flash PMI estimate for July at 07:30 GMT where the Manufacturing PMI is expected to slow to 54.0 from 54.6 while the Services PMI is expected to slow to 56.1 from 56.7.

The euro area will release the flash PMI estimate for July at 08:00 GMT, where the manufacturing PMI is expected to slow to 51.5 from 52.0 and the Services PMI expected to slow to 53.3 from 53.7 which will surely pressure the Composite PMI to slow from June’s 53.3.

As well the current account for May is due at the same time and after the narrowing trade deficit the Current Account deficit probably shrunk from April’s seasonally adjusted deficit of 5.1 billion euro.

The US will start Thursday as usual at 12:30 GMT with the weekly jobless claims after they eased the previous week to 405 thousand.

At 14:00 GMT the Leading Indicators for June are due and expected to ease to 0.2% from 0.8%. At the same time the Philadelphia Fed Index for July is also due and expected with improvement to 4.5 rebounding from -7.7.

AUD/NZD Daily Fundamental Analysis for July 21, 2011

The AUD/NZD pair traded lower early Wednesday, as the New Zealand dollar traded near its all time high against the greenback. On the other hand, the Australian dollar advanced against the dollar, but it still under pressure against the Kiwi.

Aussie declined versus all majors after the RBA minutes noted that the Bank won’t increase the interest rates until the end of the year to continue supporting the economic recovery amid the European debt crisis.

On the other hand, the expectations indicated that the New Zealand Central Bank will increase the borrowing costs by 50 basis points, bolstering the demand for the Kiwi.

On Thursday at 22:45 GMT (Wednesday), the New Zealand Net Migration for June will be published, where it had a previous reading of –360.

The New Zealand Consumer Confidence Index for July will be released at 01:00 GMT, where it had a previous reading of 112.5.

Forex News – Markets Rally on Improved Outlook

After Apple reported better than expected profits and the U.S. lawmakers are approaching an agreement regarding the country’s debt ceiling, confidence was boosted and risk appetite within the global financial markets increased demand for higher yielding assets, dragging the Asian and European stocks in green.

Since Apple’s quarterly profits more than doubled, the outlook for the U.S. economic performance could become more positive. Optimism however was also supported by news that the U.S. congress is close to reaching a deal to raise the debt ceiling before August 2, deadline, and reduce the deficit.

Yet the positive momentum financial markets enjoyed in the past couple of days may be short lived, since Europe’s credit woes remain a core issue. Investors will continue to be vigilant since EU leaders will start a summit tomorrow during which they will continue to negotiate over a resolution to EU’s debt crisis.

Yesterday’s better than expected housing data in addition to better than expected earnings from major U.S. companies extended the dollar’s drop, since rising risk appetite is weighing down on the safe heaven greenback against other majors. The dollar index is trading below the 75.00 level as of this writing.

The euro extended its gains ahead of tomorrow’s summit, since investors hope officials might find a solution to ease Greece’s debt problems. But since contagion risks still persist and Italy and Spain are still in danger, the euro is seeing limited gains. The single currency is hovering now around today’s highest at 1.4200.

The pound was weak this morning ahead of BoE’s meeting minutes, which showed a split among the MPC members. Yet the majority of the panel members remained dovish, and interest rates most probably will be kept low for an extended period of time although inflation is expected to rise further, above 5%.

This stance was widely expected by the markets, therefore, the GBP barely moved with the news, and as of this writing continues to move in a euro centric mode, with an upside momentum, around the 1.6130 level. The AUD was also able to gain today and is trading around the 1.0740 level as of this writing.

Gold retreated from yesterday’s record highs, trading around $1586.00 level, as demand for safe heaven softened; yet since the outlook for the U.S. economy improved, crude oil managed today to extend yesterday’s gains and as of this writing is trading at $98.80 per barrel level.

Europe was relatively quiet with data today, with only the German PPI on schedule, which slightly exceeded expectations. However the U.S. will release later the existing home sales numbers along with the crude oil inventories numbers, both expected to improve

AUD/USD Daily Fundamental Analysis for July 21, 2011

The Australian dollar moved lower against the US major counterpart after the Australian Westpac leading index (which gauges of future economic growth) dropped by 0.1% from a month earlier, adding the economic recovery is still under pressure and need time to rebound once again.

We can see that the Westpac index is an important indicator because as it includes eight gauges of activity, which include company profits and productivity to give signs for the performance of the economy and how the nation will perform over the next three to nine months, so the actual indicated the economy is in a hurdle phase as a result of the natural disasters that hit the economy in the first half of the year and forced the economy to contract in the first quarter.

On the other hand, Aussie declined versus its all majors after the RBA minutes noted that the Bank won’t increase the interest rates until the end of the year to continue on supporting the economic recovery amid the European debt crisis and slowing outlook for global recovery.

On Thursday, at 12:30 GMT, U.S. economy will release the weekly initial claims numbers, where the number of people filing for first-time claims for the state unemployment insurance dropped last week to 405 thousand.

The U.S. house price index for July will be released at 14:00 GMT, and it had a prior reading of 0.8%. While the Leading Indicators for July is expected to come at 0.2% from the previous 0.8%.

The Philadelphia Fed Index for July will be published at 14:00 GMT with a prior reading of –7.7 and expected to come at 4.5.

NZD/USD Daily Fundamental Analysis for July 21, 2011

The New Zealand grabbed the market’s attention after recording a new multi-year high against its US major counterpart on speculation that the RBNZ is to increase the interest rates to tame inflation rates that exceeded the Bank’s target.

Moreover, the expectations indicated that the New Zealand Central Bank will increase the borrowing costs by 50 basis points, bolstering the demand for the Kiwi.

The most important news that will be released on Thursday at 22:45 GMT (Wednesday) is the New Zealand Net Migration for June, where it had a previous reading of –360.

The New Zealand Consumer Confidence Index for July will be released at 01:00 GMT, where it had a previous reading of 112.5.

At 12:30 GMT, U.S. economy will release the weekly initial claims numbers, where the number of people filing for first-time claims for the state unemployment insurance dropped last week to 405 thousand.

The U.S. house price index for July will be released at 14:00 GMT, and it had a prior reading of 0.8%. While the Leading Indicators for July is expected to come at 0.2% from the previous 0.8%.

The Philadelphia Fed Index for July will be published at 14:00 GMT with a prior reading of –7.7 and expected to come at 4.5.

USD/JPY Daily Fundamental Analysis for July 21, 2011

The USD/JPY pair retreated early Wednesday, as the Japanese yen found more buyers against the dollar and other major currencies due to the uncertainty in the financial market, which increased demand for safer investments.

Despite the improvement in the U.S. and Asian stock market, traders seem to be more cautious, where lower yielding currencies still have their appeal especially with the absence of any improvement in the market sentiment.

President Barak Obama cleared on Tuesday that U.S. lawmakers are looking forward to adopting a $3.7 trillion debt-cutting plan, including spending cuts and tax increases.

The broad bourses acted well after Obama’s announcement, giving traders a chance to cover some of their previous losses. Meanwhile, major currencies were not able to benefit from the stock market rebound, as jitters prevail till the debt ceiling decision is made.

On Thursday at 23:50 GMT (Wednesday), Japan will release the Merchandise Trade Balance for June, where the deficit is expected to narrow to 175.3 billion yen from the previous deficit of 853.7 billion yen.

The Adjusted Merchandise Trade Balance deficit is also expected to narrow to 282.2 billion yen from -474.6 billion yen. Exports had a previous reading of –10.3 and expected to improve to – 4.7. As for the annual Merchandise Trade Import it’s expected to come at 11.1 from the previous 12.3.

At 04:30 GMT Japan will release All Industry Activity Index for May which is expected to rise 1.8% following 1.5%.

At 12:30 GMT, U.S. economy will release the weekly initial claims numbers, where the number of people filing for first-time claims for the state unemployment insurance dropped last week to 405 thousand.

The U.S. house price index for July will be released at 14:00 GMT, and it had a prior reading of 0.8%. While the Leading Indicators for July is expected to come at 0.2% from the previous 0.8%.

The Philadelphia Fed Index for July will be published at 14:00 GMT with a prior reading of –7.7 and expected to come at 4.5.

FXCM Monthly Report, June 2011

FXCM Inc. announced, last week, certain key operating metrics for June 2011. The report included details regarding its Forex and retail operations.

June 2011

Retail Trading Metrics:

FXCM reported that had a retail customer trading volume of $317 billion in June 2011 which is 3% lower than in May 2011, and 10% higher than June 2010. Its retail customer trading volume for the Q2 2011 was $938 billion. That is the highest in FXCM history and is 14% higher than it was in Q1 2011. Further, FXCM reported that volume from referring brokers and white labels was 57% of total retail trading volume in the Q2 2011.

It also reported that its average retail customer trading volume per day was $14.4 billion in June 2011; making it 3% lower than in May 2011 and 10% higher than June 2010. An average of 363,557 retail client trades per day in June 2011 was reported; meaning there was no significant change from May 2011 and 13% higher than June 2010. The 171,138 tradeable accounts as of June 2011, marks an increase of 3,294, or 2%, from May 2011, and an increase of 5,851, or 4%, from June 2010.

Institutional Trading Metrics

The institutional customer trading volume of $72 billion in June 2011 is 10% lower than it was in May 2011 and is 8% higher than it was in June 2010. Institutional volume for the Q2 2011 was $214 billion, the second highest in FXCM history and 2% lower than the record Q1 2011. The average daily institutional trading volume of $3.3 billion in June 2011 is 10% lower than it was in May 2011 yet it is 8% higher than it was in June 2010.
FXCM also reported an average of 7,263 institutional client trades per day in June 2011; 16% lower than the number of institutional client trades per day it reported in May 2011 but a remarkable 100% higher than June 2010.

Drew Niv, President and CEO of FXCM said, “I am pleased to see our strategy producing solid results in our operating metrics.”  He continued, “We believe we are well positioned to continue to capitalize on growing interest in foreign exchange and FXCM’s agency model, which we believe differentiates us from our competition.”

ForexTrading.com (Saxo Bank) Adds Indices and Commodities CFDs to Instruments Already Offered

Saxo Bank announced today that it will now offer 12 CFDs on major stock indices and 7 commodity CFDs to ForexTrading.com’s platform for their private traders. Head of Markets at Saxo Bank, Claus Nielsen, said: “The addition of stock index CFDs and seven further commodity CFDs to ForexTrading.com now enables private investors to trade in the most liquid contracts across a range of asset classes. The majority of clients use ForexTrading.com as a no thrills account to trade currencies, however we want to make sure that they have the opportunity to leverage the opportunities they see in other asset classes.”

Alpari US Announced its Partnership with Dukascopy Bank

Alpari announced today that it is partnering with Dukascopy Bank SA. In light of recent regulatory changes in theUnited Statesvis-à-vis Forex exchanges the companies have agreed to an arrangement which allows Alpari to offer Dukascopy’s trading environment and technology to US based clients.

Alpari will utilize Dukascopy’s technological environment and will provide foreign exchange services by way of a white label of Dukascopy’s platform, JForex. The platform will operate in compliance with within the regulations established by the FCM and RDED; it will provide access to over 35 pairs and will be available as a demo as well.

Forex Club to Offer Clients Annual Interest as a Bonus

Forex Club announced that it will offer clients an annual interest rate bonus of up to 6.5%.  This unprecedented move marks the first time that an FX Broker is offering an interest rate based on a client’s deposit plus all opened positions with unrealized p/l as a bonus.

The bonus will be available to clients with a Platinum or Diamond account with Forex Club.  Platinum accounts will receive a 5% bonus; Diamond accounts will receive a 6.5% bonus.

Interest will be accrued at the end of every day’s trading, stored into the company’s FXBank and at the end of each 90 day period; the entire incurred interest will be deposited into a client’s account.

The interest will be applied as an incentive bonus, and cannot be withdrawn.  However, all profits made with the incentive funds may be withdrawn. See the Terms and conditions here.

Markets.com Launches Upgraded Version ‘Mirror Trading’ Market AutoTrader

Announced July 11, 2011, this new version of the Market Auto Trader manages an account by executing trades and orders, in real time, based upon a client’s chosen strategy parameters.

This upgrade contains several new features:

–          Live signals which can instantly be mirrored

–          Simulation of a strategy performance before execution

–          Review history and activity of portfolio

–          Redesigned graphic interface, for ease in analysis of data

–          Traders can open, close, modify and manage several trading positions or accounts simultaneously

–          Ability to switch between auto-strategies as needed

–          Ability to copy successful strategies in real time

–          Scoring system to help trader choose a strategy

–          Visual display of a strategy’s performance

Once approved, this platform executes trades even as the client is away from his or her computer.

Capital Spreads Announces New Charting Package for Clients

Capital Spreads is planning to subscribe to a new charting package. This new package will enable its clients make better informed choices. The current charting package offered from Capital Spreads is relatively simple and is provided by IT Finance and recently clients have been asking Capital Spreads to provide a more well rounded package.

The new charting package is to go online on the 16th of July, 2011. It is said to include:

– Flash charts instead of Java which will be more easily accessible from all computers

– Strategy builder capacities with the possibility of back testing systems

– E-mail and MSN alerts on specific designated triggers

– Larger capacity of retrieving more history for each time frame

– Many more indicators to satisfy charters

– Fibonacci tools which enable easy drawing of retracements, arcs, time zones and fans

The new charting tools will be free to all Capital Spreads clients.

Alpari Launches QuantumFX – an Institutional Forex Trading Platform, Powered by Currenex

Alpari is launching QuantumFX, a next-generation trading platform which will power the evolution of institutional Forex. QuantumFX will provide corporations, hedge funds, banks and high frequency trading institutions with access to a diverse and deep liquidity pool. QuantumFXfeatures anonymous trading via a central clearing counter-party model with multiple execution mechanisms: Executable Streaming Prices (ESP™); Request for Quote (RFQ)/Request for Stream (RFS) for spot, forwards and swaps. It also supports multiple order types and execution algorithms that help minimize market impact.

QuantumFX leverages the sophisticated infrastructure of Currenex® to provide diverse access to high performance trading technology. It comes with integrated third-party access and reporting capabilities. Jermaine Harmon, Head of Alpari (US) Institutional Sales for theAmericas: “As with all Alpari products and services, QuantumFX is a platform clients can trust. It incorporates the very latest trading technology, making it an advanced execution tool on which institutions can rely and which enables clients to execute against a unique liquidity pool. Our customers benefit from the QuantumFX team’s extensive FX experience and the platform’s truly global reach.”

Broker Says China Concerns Drove Margin Ban

Interactive Brokers Group, Inc., earlier this week, banned clients from borrowing money to buy any of 160 Chinese securities because of accounting scandals in China, the company’s CEO said, adding that he hoped the move would prompt the Chinese to toughen accounting standards. The small Connecticut-based broker-dealer caused a big stir this week when it announced it would no longer let customers borrow money to take leveraged positions in certain Chinese securities. Interactive Brokers began enforcing the ban on Monday and phased it in over the course of this week.

Interactive Brokers, he added, was in strong financial shape with about $4.5 billion in capital.

eToro Snags a World Finance Award for Most Innovative Trading Platform, 2010

The eToro platform, already a trader favorite, has now received a nod of appreciation from the financial trading industry as a winner of one of World Finance’s prestigious annual awards.

The eToro platform, already a trader favorite, has now received a nod of appreciation from the financial trading industry as a winner of one of World Finance’s prestigious annual awards.

E-mini NASDAQ-100 Index

The eToro platform, already a trader favorite

The eToro platform, already a trader favorite, has now received a nod of appreciation from the financial trading industry as a winner of one of World Finance’s prestigious annual awards.

H3 The eToro platform, already a trader favorite

The eToro platform, already a trader favorite, has now received a nod of appreciation from the financial trading industry as a winner of one of World Finance’s prestigious annual awards.

H4 The eToro platform, already a trader favorite

The eToro platform, already a trader favorite, has now received a nod of appreciation from the financial trading industry as a winner of one of World Finance’s prestigious annual awards.

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The eToro platform, already a trader favorite, has now received a nod of appreciation from the financial trading industry as a winner of one of World Finance’s prestigious annual awards.

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Caption Daily June U.S. Dollar Index Caption Daily June U.S. Dollar Index Caption Daily June U.S. Dollar Index Caption Daily June U.S. Dollar Index

 

The eToro platform, already a trader favorite, has now received a nod of appreciation from the financial trading industry as a winner of one of World Finance’s prestigious annual awards.

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The eToro platform, already a trader favorite, has now received a nod of appreciation from the financial trading industry as a winner of one of World Finance’s prestigious annual awards.

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To determine the winners, World Finance magazine used an independent panel of judges headed up by Editor Alexander Redcliffe. The Panel followed up on the countless nominations, suggestions and contributions of World Finance readers to explore and analyze new trends in order to unearth the best and the brightest pioneers in the FX marketplace. “We couldn’t be more thrilled and honored to win this particular award,” said eToro CEO, Johnathan Assia.“

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To determine the winners, World Finance magazine used an independent panel of judges headed up by Editor Alexander Redcliffe.

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To determine the winners, World Finance magazine used an independent panel of judges headed up by Editor Alexander Redcliffe. The Panel followed up on the countless nominations, suggestions and contributions of World Finance readers to explore and analyze new trends in order to unearth the best and the brightest pioneers in the FX marketplace.

To determine the winners, World Finance magazine used an independent panel of judges headed up by Editor Alexander Redcliffe. The Panel followed up on the countless nominations, suggestions and contributions of World Finance readers to explore and analyze new trends in order to unearth the best and the brightest pioneers in the FX marketplace. “We couldn’t be more thrilled and honored to win this particular award,” said eToro CEO, Johnathan Assia.“

To determine the winners, World Finance magazine used an independent panel of judges headed up by Editor Alexander Redcliffe. The Panel followed up on the countless nominations, suggestions and contributions of World Finance readers to explore and analyze new trends in order to unearth the best and the brightest pioneers in the FX marketplace.

 

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Standart table

Company Contact Country
Alfreds Futterkiste Maria Anders Germany
Centro comercial Moctezuma Francisco Chang Mexico
Ernst Handel Roland Mendel Austria
Island Trading Helen Bennett UK
Laughing Bacchus Winecellars Yoshi Tannamuri Canada
Magazzini Alimentari Riuniti Giovanni Rovelli Italy

World Finance magazine used an independent panel of judges headed up by Editor Alexander Redcliffe. The Panel followed up on the countless nominations, suggestions and contributions

-transparent table

Company Contact Country
Alfreds Futterkiste Maria Anders Germany
Centro comercial Moctezuma Francisco Chang Mexico
Ernst Handel Roland Mendel Austria
Island Trading Helen Bennett UK
Laughing Bacchus Winecellars Yoshi Tannamuri Canada
Magazzini Alimentari Riuniti Giovanni Rovelli Italy

World Finance magazine used an independent panel of judges headed up by Editor Alexander Redcliffe. The Panel followed up on the countless nominations, suggestions and contributions

no headers

Company Contact Country
Alfreds Futterkiste Maria Anders Germany
Centro comercial Moctezuma Francisco Chang Mexico
Ernst Handel Roland Mendel Austria
Island Trading Helen Bennett UK
Laughing Bacchus Winecellars Yoshi Tannamuri Canada
Magazzini Alimentari Riuniti Giovanni Rovelli Italy

 

no headers

Company Contact Country
Alfreds Futterkiste Maria Anders Germany
Centro comercial Moctezuma Francisco Chang Mexico
Ernst Handel Roland Mendel Austria
Island Trading Helen Bennett UK
Laughing Bacchus Winecellars Yoshi Tannamuri Canada
Magazzini Alimentari Riuniti Giovanni Rovelli Italy

 

 

 

 

The Panel followed up on the countless nominations, suggestions and contributions of World Finance readers to explore and analyze new trends in order to unearth the best and the brightest pioneers in the FX marketplace.

World Finance magazine used an independent panel of judges headed up by Editor Alexander Redcliffe. The Panel followed up on the countless nominations, suggestions and contributions

The Panel followed up on the countless nominations, suggestions and contributions of World Finance readers to explore and analyze new trends in order to unearth the best and the brightest pioneers in the FX marketplace.

World Finance magazine used an independent panel of judges headed up by Editor Alexander Redcliffe. The Panel followed up on the countless nominations, suggestions and contributions

The Panel followed up on the countless nominations, suggestions and contributions of World Finance readers to explore and analyze new trends in order to unearth the best and the brightest pioneers in the FX marketplace.

Class Action Suit Against FXCM for Alleged Inflated IPO Price is Dismissed with Prejudice

On July 1, 2011, a Stipulation of Dismissal with Prejudice was filed with the United States District Court for the Southern District of New York. The Dismissal was based on a class action lawsuit filed on March 3, 2011 against FXCM Inc., as well as certain officers and directors of the Company and three underwriters in its IPO. The lawsuit asserted claims under the Securities Act and alleged false or misleading statements in the IPO prospectus and sought damages on behalf of persons who purchased Class A common stock in the IPO. As a result of the Dismissal, all claims asserted by Plaintiff against Defendants were dismissed with prejudice.

[fx-forecasts-cta instrument=natural-gas broker=etoro]

On March 3rd, 2011 Kahn Swick & Foti, LLC (“KSF”) and KSF partner, Former Attorney General of Louisiana, Charles C. Foti, Jr., announced the commencement of the firm’s securities class action lawsuit against FXCM Inc. The lawsuit was filed in the United States District Court for the Southern District of New York on behalf of purchasers of FXCM common stock pursuant to its December 2010 IPO of 15,060,000 shares of common stock (with an overallotment option of 2,259,000 shares), priced at $14.00 per share. This suit was filed on claims on behalf of investor allegations that certain statements issued by the Company regarding FXCM’s business, operations and financial performance were materially false and misleading.

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