The number of job openings on the last business day of May stood at 7.769 million, the US Bureau of Labor Statistics (BLS) reported in the Job Openings and Labor Turnover Survey (JOLTS) on Tuesday.
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Nikkei is reporting that the US will “handle” Japan later in tariff talks after first focusing on India.
Yesterday, Trump criticized Japan for not importing US rice to ease a shortage. He said that he would send a letter. He tends to be more friendly with Japan. He and former PM Abe used to play a lot of golf and often brings his name up when referencing Japan.
This article was written by Greg Michalowski at www.forexlive.com.
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The Pound Sterling (GBP) loses ground versus the US Dollar after hitting a new three-year peak of 1.3788, just shy of the 1.3800 figure.
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Trump on the July 9th trade deal deadline:
Stocks dipped on the headline. S&P is now down -0.14%. Nasdaq is back down -0.85%
This article was written by Greg Michalowski at www.forexlive.com.
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Tradeview has secured a license from the United Arab
Emirates’ Securities and Commodities Authority (SCA), marking a significant
step in the company’s expansion in the Middle East.
Amgad Attia, the Managing Director of
Tradeview, made the annoucement today (Tuesday) on LinkedIn. The approval will enables Tradeview to
operate as a regulated financial services provider in the UAE, further
strengthening its presence in the region.
Approval from the Securities and Commodities Authority
“It is our pleasure to announce that Tradeview has obtained
the prestigious Securities and Commodities Authority (SCA) license in the UAE.
This license, along side our other licenses, demonstrates Tradeview’s
commitment to provide our clients with the best trading environment possible,” Attia mentioned.
Following Expansion in Latin America
In February, Tradeview disclosed plans to expand presence in
Peru with the launch of a larger office in Lima. With a presence in Peru for more
than 14 years, announced plans to increase its business in the region by 50%
this year and double it within the year.
“Tradeview is expanding its presence in Lima with a new, larger office this June, reinforcing our aggressive growth strategy across Latin America,” Tomothy Furey, the Founder and CEO of Tradeview Markets, said.
“We’ve been active in the Peruvian market for over 14 years, and now we’re scaling up. With plans to grow our business by 50% this year and double it by 2025, we’re making significant investments in the region—offices, sponsorships, education, and more.”
Expect ongoing updates as this story evolves.
This article was written by Jared Kirui at www.financemagnates.com.
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Gold prices aggressively rejected the move towards the uptrend that defined this year’s epic rally, TDS’ Senior Commodity Strategist Daniel Ghali notes.
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Pres. Trump is saying that they will fill up the Strategic Petroleum Reserves (SPR) when the price is right.
The price of crude oil is up $0.56 or 0.86% at $65.67. The price remains within a range between $64 on the downside and $66.33 on the upside (see the chart below). In between, sits the 100-hour moving average which currently comes at $65.24.
The price in crude oil has been finding support buyers against that 100-hour moving average in trading today, giving the buyers a short-term bias advantage. Moving below would shift the bias back to the downside.
This article was written by Greg Michalowski at www.forexlive.com.
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As market participation remains elevated, Interactive
Brokers posted another strong performance in June, with client trading volume,
equity, and account growth all moving sharply higher.
The platform posted 3.448 million daily average
revenue trades (DARTs) in June, up 40% compared to the same month in 2024 and
2% higher than May. Since January, Interactive Brokers has recorded year-over-year growth in the daily average revenue trades.
Trading Volume Climbs 40% from Last Year
Notably, the firm’s client base also continued to
expand. The number of active accounts rose to 3.866 million, a 32% increase year over year and 2% above the prior month. On an annualized basis, the average client generated 195 cleared DARTs.
Client Equity, Margin, and Credit Balances See
Double-Digit Growth. Total client equity at the end of June stood at $664.6
billion, a 34% jump over the past year.
Client margin loan balances reached $65.1 billion,
rising 18% year-over-year, while client credit balances climbed to $143.7
billion, including $5.8 billion in insured bank deposit sweeps.
These increases reflect a broader trend of clients
deploying more capital while maintaining ample liquidity. Both margin and
credit balances rose 6% and 7%, respectively, from May levels.
Cost Metrics and Trade Execution Transparency
In June, the average commission per cleared commissionable order was $2.54, inclusive of exchange, clearing, and regulatory fees. By asset class, stock trades averaged 941 shares at
$1.86 per order, equity options averaged 6.1 contracts at $3.59, and futures
averaged 2.9 contracts at $4.04.
The company also disclosed execution cost data for its
IBKR PRO clients. For U.S. Reg NMS stock trades, the average order size was
$20,123, and the total execution and clearing cost came to 2.6 basis points of
trade value in June. Over the past 12 months, the average cost was 3.6 basis
points versus VWAP benchmarks.
Interactive Brokers posted a small mark-to-market gain
of $324,000 on its U.S. government securities portfolio in the second quarter.
The firm’s proprietary GLOBAL investment portfolio, denominated in U.S.
dollars, gained 0.61% in June and is up 2.38% year-to-date.
Expect ongoing updates as this story evolves.
This article was written by Jared Kirui at www.financemagnates.com.
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The Gold price rises over 1% as the Greenback pares some of its earlier losses, which sent the US Dollar Index (DXY) to a three-year low. Meanwhile, the US Senate passed the Trump tax bill, which is ready to be sent to the House of Representatives for its approval.
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Silver (XAG/USD) is hovering around 36.20 during the American session on Tuesday, trading in a narrow range as bulls take a breather after the sharp rally that saw the metal hit multi-year highs in June.
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Euronext has confirmed it is in discussions with the
board of Hellenic Exchanges-Athens Stock Exchange (ATHEX) over a possible
acquisition of the Greek market operator. The potential transaction would be structured as a
share exchange, valuing ATHEX at €6.90 per share and the entire capital of the
company at €399 million.
In a statement released on Monday, Euronext said the
proposed deal would involve a fixed conversion rate of 21.029 ATHEX ordinary
shares for each new Euronext share.
Based on Euronext’s closing price of €145.10 on June
30, the offer would value ATHEX at €399 million on a fully diluted basis. The
offer remains subject to due diligence, and no final agreement has been
reached.
Part of a Broader EU Market Consolidation Strategy
The move aligns with Euronext’s long-term strategy to
consolidate European capital markets. The company, which already operates exchanges in
Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo, and Paris, is the largest
liquidity pool in Europe, accounting for around 25% of all cash equity trading
activity across the region.
Euronext said the acquisition of ATHEX would support
the harmonization of European capital markets and allow Greek financial
participants to access a wider pool of liquidity.
Related: Euronext’s FX Trading Business Hits New Highs as Revenue Jumps 30%
Euronext also framed the deal as a vote of confidence
in the Greek economy and the potential of its capital markets. A merger would
give Greek issuers and investors access to a broader financial infrastructure
and position the country more firmly within the European Union’s capital
markets network.
Greece Seen as Strategic Growth Opportunity
If completed, the transaction would give ATHEX access
to a group that currently hosts more than 1,800 listed companies with a
combined market capitalization exceeding €6 trillion.
Euronext emphasized that the discussions are ongoing
and that there is no certainty that an agreement or offer will result. The company
stated that any potential deal would follow its existing financial discipline
and strategic investment criteria. Further updates will be provided if material
developments occur.
Last year, Euronext announced the expansion of its clearing operations to all financial derivatives markets and the acquisition of
research benchmarking provider Substantive Research. The
expansion of Euronext to derivatives markets marked the completion of migrating
clearing activities from LCH SA.
This article was written by Jared Kirui at www.financemagnates.com.
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The USDCAD rebounded sharply after finding support near a prior swing low at 1.3591 and pushing back above both the 61.8% retracement and a key swing area between 1.36337 and 1.3650. That move shifted the short-term bias more in favor of buyers.
Momentum carried the pair up to test the 100-hour moving average and the 50% retracement of the June decline, both converging between 1.36599 and 1.3668 with the high at 1.3665. This dual technical confluence is acting as initial resistance, and so far, sellers are leaning against the zone.
A break above 1.36688 would open the door for further upside, while a move back below 1.3650 could see downside pressure re-emerge, particularly if the price slips back below the 61.8% and low of swing area down to 1.36337.
Key levels to watch:
Resistance: 1.36599–1.36688 (100-hour MA and 50% retracement). Move above and the 200 hour MA will be targeted at 1.3693.
Support: 1.36337–1.3650 (swing zone),
Bias: Bullish above 1.3650, with key hurdle at the resistance confluence
This article was written by Greg Michalowski at www.forexlive.com.
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