Nothing on this data agenda is likely to move around major FX too much.
This article was written by Eamonn Sheridan at www.forexlive.com.
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White House Press Secretary Karoline Leavitt addressed the press from the White House on Tuesday, following up on President Donald Trump’s declarations of setting additional tariffs on Canada, to begin as soon as Wednesday.
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Via oilprice.com:
Expectations I had seen centred on:
—
This data point is from a privately-conducted survey by the American Petroleum Institute (API).
The two reports are quite different.The official government data comes from the US Energy Information Administration (EIA)
This article was written by Eamonn Sheridan at www.forexlive.com.
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Ontario Prime Minister Doug Ford agreed to suspend his announced export tariffs on Ontario-produced electricity bound for the US after US Secretary of Commerce Howard Lutnick agreed to emergency trade talks with Canada.
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Gold (XAU) rallied on Tuesday as the trade war spurred demand for the yellow metal due to its safe-haven appeal.
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Within hours of his declaration via social media to impose a double tariff of 50% on Canadian steel and aluminum, US President Donald Trump has capitulated to pressures from both the market and within his cabinet, floating the suggestion that he may pivot away from his own double-tariff just hours after declaring his intent to double targeted tariffs on Canada on his Truth Social account.
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Good morning, afternoon and evening all. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so:
This article was written by Eamonn Sheridan at www.forexlive.com.
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StoneX Group today (Tuesday) announced the acquisition
of The Benchmark Company, a New York-based investment banking
firm. With this move, StoneX Group aims to enhance its investment banking, equity
research, and capital markets capabilities.
Enhancing Equity and Debt Market Capabilities
Benchmark is an investment banking firm with over 35
years in the industry. It focuses on sales, trading, and research. Its integration into StoneX now aims to strengthen the latter’s presence in equity and
debt capital markets.
“The acquisition of Benchmark establishes a
franchise-level equity research and investment banking platform at StoneX,
significantly elevating our equities capabilities,” Jacob Rappaport, Global
Head of Equities at StoneX, commented.
“This strategic move strengthens our ability to
deliver deep market insights, superior execution, and comprehensive solutions
to institutional and commercial clients in global capital markets.”
Beyond equities, the acquisition strengthens StoneX’s
debt capital market services. StoneX plans to leverage its extensive global
distribution network to maximize Benchmark’s capabilities, enhancing service
offerings for institutional and commercial clients worldwide.
The acquisition remains subject to regulatory approval
and customary closing conditions. Once finalized, StoneX expects the deal to
significantly expand its financial services portfolio by improving its offering
in the global capital markets.
Expanding Global Reach in Fixed Income
Last month, StoneX Group also finalized its acquisition of Octo Finances, a Paris-based fixed-income brokerage, to expand its
services in Europe. The acquisition expanded StoneX’s offerings in bond and
convertible sales, debt capital markets, and credit research.
“We are thrilled to officially welcome Octo Finances
to StoneX Group and believe the company will provide us with significant new
capabilities. Our joint planning is well underway, and we are excited by the
opportunities for growth for the combined business in Europe.” Anthony Di
Ciollo, Global Head of Fixed Income at StoneX, mentioned.
Octo Finances targets bond trading and credit research.
According to the announcement, its addition boosts StoneX’s
capability to serve institutional clients with fixed-income solutions.
Meanwhile, StoneX reported strong growth in its FX/CFD trading business for the fourth quarter, with revenues increasing 7% to $84.7 million compared to $79.2 million in the same period of the previous year. In the fiscal year 2024 (FY24) ending September 30, 2024, revenues in the FX and CFD segments surpassed $316 million, which represents a 21% YoY jump from $262 million.
This article was written by Jared Kirui at www.financemagnates.com.
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Marko Kolanovic is a ‘market plumbing’ expert almost without peer. His expertise didn’t translate so well into stock market forecasting though.
Kolanovic is ex-JP Morgan where he issued a long series of bearish equity market calls.
With the S&P 500 now dropping he says now he sees it lower:
Cites:
This article was written by Eamonn Sheridan at www.forexlive.com.
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The US Dollar (DXY) continues its downward spiral on Tuesday, with DXY hovering near 103.40 as trade tensions escalate.
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The euro is at the highs of the day and indications around peace in Ukraine might be helping as headlines from the State Department cross:
We’re also seeing a rebound in risk assets at the moment, though the size of the move is larger than you would expect on a Ukraine headline that was largely expected.
This article was written by Adam Button at www.forexlive.com.
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Sharegain, a securities lending fintech company, has entered
a partnership with DriveWealth, a financial technology platform providing
Brokerage-as-a-Service. This collaboration aims to unlock new opportunities in
the securities lending sector.
DriveWealth, Sharegain Collaborate on Securities Lending
“Our mission has consistently been to empower the next
generation of private investors. Collaborating with Sharegain extends an
efficient investing experience to new B2B partners and their clients globally.
We look forward to a successful partnership,” Michael Blaugrund, CEO of
DriveWealth, commented.
This partnership enhances DriveWealth’s securities lending
services by adding an agency lending feature powered by Sharegain. The offering
is designed to meet UK and European regulatory requirements.
Partnership Streamlines Lending Services for Brokers
Through this collaboration, DriveWealth’s platform and APIs
simplify the investment process. They cover aspects such as execution,
clearing, custody, instrument screening, and pricing. Online brokers can
integrate both platforms, providing a seamless, end-to-end service for their
clients.
“We are excited to join forces with DriveWealth, a
company that shares our vision of levelling the playing field in capital
markets and making securities lending accessible to everyone,” Boaz Yaari,
CEO & Founder of Sharegain, added.
European Headquarters Established Following Lithuania
License
DriveWealth
has also obtained a brokerage license from the Bank of Lithuania, expanding
its global reach, as reported by Finance
Magnates.
The Category B license allows DriveWealth to establish its
European headquarters in Vilnius, Lithuania, complementing its existing
operations in the United States and Singapore. The new entity, DriveWealth
Europe, will manage the company’s operations in Europe.
Equities Trading Services Extended Across Markets
Earlier, Blue
Ocean Technologies and DriveWealth partnered to expand equities trading
services, offering greater access to data and trading, particularly in the
Asia-Pacific region and other global markets.
This collaboration enables traders in various time zones to
access equities services and data, with DriveWealth’s connectivity to Blue
Ocean Technologies ensuring real-time execution around the clock. Brian
Hyndman, CEO of Blue Ocean Technologies, emphasized the company’s commitment to
expanding its market reach. Last year, DriveWealth partnered with Devexperts to
introduce fractional share trading in response to growing demand.
This article was written by Tareq Sikder at www.financemagnates.com.
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