Sluggish Economy and Brexit Fears Keep The Pound Bearish
The GBPCAD pair lost more than 1000 pips in the past two weeks to touch a low of 1.8662 on Tuesday. The well known reason for the decline was the possibility of a ‘Brexit’ (Britain exit) from the European Union
Read MoreGlencore Post $8bn Loss Due To Weak Commodity Prices
Glencore, the Swiss mining and trading house recently confirmed a huge annual loss of $8 billion arising from the sharp decline in commodity prices over the past year. The company had registered pre-tax profit of $4.3billion in 2014 but the
Read MoreFormer Bank Of England Governor Predicts Failure of Eurozone
Mervyn King, the former governor of the Bank of England who is well-known for his views in opposing the European Union (EU) and the concept of having a single currency has predicted that the EU will eventually collapse. In a
Read MoreChina Replaces Head Of Securities As It Seeks To Calm Market
China recently announced that it has replaced the head of its securities regulator Xiao Gang and appointed a top state banking executive in his place, as the country continues to take measures to calm the markets after a turbulent few
Read MoreGovernor of PbOC Tries To Calm Market Over Major FX Concerns
China’s volatile market has caused serious concerns for a number of countries wiping out billions of dollars in trading. While market analysts believe that this trend in China will continue in 2016, Zhou Xiaochuan, the governor of the People’s Bank
Read MoreBarclays Jes Staley Brings In JP Morgan’s Paul Compton As COO
Jes Staley, the newly appointed chief executive officer of Barclays Bank Plc has confirmed hiring a former colleague from JP Morgan, Paul Compton to be the bank’s new chief operating officer (COO). Compton will be replacing Jonathan Moulds as Barclays
Read MoreBarclays To Cut 1,000 Investment Banking Jobs Across The Globe
Barclays is planning to cut around 1,000 investment banking jobs across its offices worldwide as a part of sweeping restructuring plan. According to reports, its operations in Asia have borne the brunt of the cuts as investment banking businesses in
Read MoreSteel Unions Pressure British Government To Take Action
The British Government has come under renewed pressure to take action to support the steel industry after Tata Steel announced yet another round of job cuts. Tata Steel is expected to cut around 1,000 jobs at its steel plants which
Read MoreUK Interest Rate Rise Unlikely – For Now
If you are a UK Forex trader then you will no doubt have been pinning your hopes on a rise in interest rates in the UK for quite a time now, and as the UK economy has been doing exceptionally
Read MoreChina Claims Relatively Abundant Forex Reserves Despite Crash
In December 2015, China found its mammoth foreign reserves considered to be the world’s largest, dip to a three year low amounting to $3.3 trillion. Beijing maintained that the $107.9 billion deficit was in part a result of the recent
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