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Turkish lira sinks following Erdogan’s interest rate remarks
Kama Capital Promotes Former Monex Europe Compliance Officer as Head of Compliance
Mohammed Omayer has been promoted Head of Compliance at Kama
Capital. He shared the news of his new position on LinkedIn today (Monday).
On the post he wrote: “I’m happy to share that I’m
starting a new position as Head of Compliance at Kama Capital.”
Omayer Appointed Kama Capital Compliance Head
Prior to this appointment, Omayer served as a Compliance
Officer at Kama Capital for over a year. During this time, he worked on
compliance management systems, anti-money laundering, and financial regulation.
His expertise extends to project management and foreign exchange trading.
Omayer’s career spans various roles in the compliance
sector. He was the Founder and Director of Chateau de Pile (MOVS SARL) in
France for nearly three years. Before that, he spent over four years as the
Head of Compliance and MLRO at Global Market Index Limited in London, where he
oversaw regulatory compliance and anti-money laundering measures.
Veteran Compliance Officer Takes Leadership
Earlier in his career, Omayer held compliance roles at Monex
Europe and GKFX. His responsibilities included developing global compliance
policies, delivering training on regulatory changes, and liaising with national
regulatory bodies.
This article was written by Tareq Sikder at www.financemagnates.com.
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Major market cycles aligning with key price targets
As we enter January, we have a series of very unusual long term cycles come together.
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Pound Sterling rebounds despite marginal rise in BoE dovish bets
The Pound Sterling (GBP) rebounds against its major peers in Monday’s London session.
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Who are the Fed voters in 2025?
Let’s get straight into it, shall we? Here is a look at the voting committee for the current year that has gone by:
- Jerome Powell (Fed chair)
- John Williams (Fed vice chair, New York Fed)
- Michael Barr (Board of Governors)
- Michelle Bowman (Board of Governors)
- Lisa Cook (Board of Governors)
- Philip Jefferson (Board of Governors)
- Adriana Kugler (Board of Governors)
- Christopher Waller (Board of Governors)
- Raphael Bostic (Atlanta Fed)
- Beth Hammack (Cleveland Fed)
- Thomas Barkin (Richmond Fed)
- Mary Daly (San Francisco Fed)
In 2025, it will shape up to be:
- Jerome Powell (Fed chair)
- John Williams (Fed vice chair, New York Fed)
- Michael Barr (Board of Governors)
- Michelle Bowman (Board of Governors)
- Lisa Cook (Board of Governors)
- Philip Jefferson (Board of Governors)
- Adriana Kugler (Board of Governors)
- Christopher Waller (Board of Governors)
- Susan Collins (Boston Fed)
- Austan Goolsbee (Chicago Fed)
- Jeffrey Schmid (Kansas City Fed)
- Alberto Musalem (St Louis Fed)
The changes are highlighted in Italic as it pertains to the usual voting committee rotation. The others are always untouched no matter how things play out.
Among those voting next year, it will be the first time for Schmid and Musalem. As for Collins, she was last a voting member back in 2022. And Goolsbee was last a voting member back in 2023.
But the more important question is what is the balance of views among them and those rotating out?
The current outlook is that the Fed is likely to hold a more hawkish tone going into next year. That especially as reflected by the latest dot plots and the fact that they will look to pause in January to start with.
Of those rotating out, the standout is arguably Hammack as she was the only one who voted against the latest Fed rate cut in December. She argued that policy needed to stay “moderately restrictive” until there is further evidence of inflation converging towards the 2% target.
Meanwhile, Bostic, Barkin, and Daly may be regarded as more centrists but with a slight skew towards siding with what the main stance is for the Fed. And in this case, it is leaning more towards where Powell is standing I would say.
As for those rotating in, Schmid is definitely the most hawkish among the four but less so as compared to Hammack. Then, you have Goolsbee who is definitely hanging a little closer to the dovish scale. But Musalem and Collins are perhaps a little more hawkish than your average centrists, particularly the former.
There’s talk of the voting committee being increasingly more hawkish next year but amid the changes, it’s hard to see that outright being the base case scenario.
I reckon Powell will still have a big say on how things will go down at the end of the day. And the thing with the overall Fed view now is that a lot will hinge on upcoming data still.
We did move away from focusing on inflation to labour market data but expect next year to be a bit of a balance of both. That especially as price pressures look to be stalling or at least taking a bumpier path in approaching 2%. And not to mention the threat of Trump’s tariffs and tax cuts as well.
So, those will be the more important focus points as we look towards next year as opposed to who’s who on the voting board considering the rotation above.
This article was written by Justin Low at www.forexlive.com.
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Dollar edges lower as yields slips; hefty annual gain likely
Silver price today: Silver broadly unchanged, according to FXStreet data
Silver prices (XAG/USD) broadly unchanged on Monday, according to FXStreet data.
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Bybit Shuts Down in Malaysia Amid Regulator’s Order
Bybit has ended its operations in Malaysia following an order from the Securities Commission Malaysia (SC). The SC flagged the cryptocurrency exchange giant for operating in the country without local registration and held Bybit’s CEO, Ben Zhou, responsible for ensuring compliance.
Actions against Unregistered Platforms
The order came after the Malaysian regulator added Bybit to its “Investor Alert” list in 2021 for “operating a digital asset exchange (DAX) without registration.”
The list also includes many other crypto exchanges and contracts for differences (CFDs) brokers regulated outside Malaysia but not in the country. Recently, it also added Atomic Wallet, a cryptocurrency wallet platform. However, all these platforms share the list with other potentially fraudulent platforms, including clones of legitimate platforms.
The Malaysian regulator’s latest order, which appears to have been communicated to Bybit on 11 December 2024, directed the exchange to disable its website and mobile applications within 14 business days in the country. Further, the Dubai-headquartered crypto exchange had to cease all online and offline advertisements and terminate the Telegram support group for Malaysians.
“This decision comes after concerns about the platform’s compliance with local regulatory requirements and protecting investors’ interests.”
Crypto Giants Face Regulatory Challenges
Apart from the actions in Malaysia, the financial services watchdog in Cyprus also added Bybit’s name to its warning list last month for being an unregistered platform. However, the Cypriot regulator has not yet taken any further action.
Bybit is the second-largest centralised cryptocurrency exchange in terms of trading volumes with spot and derivative instruments, according to Coinmarketcap.com. In the last 24 hours, the platform handled over $4.6 billion in spot and $19 billion in derivatives trading volume, trailing only Binance.
The exchange is also strengthening its presence in strategic countries and has gained licences in Kazakhstan and Georgia recently. It also holds a provisional licence in Dubai and is now seeking authorisation in Austria.
“Investors are reminded to invest and deal only with Recognized Market Operators that are registered with the SC,” the regulatory notice noted. “Registered RMOs have undergone strict regulatory scrutiny and are required to adhere to strict guidelines so that investors are protected under Malaysia’s securities laws.”
“Those who invest in unlicensed or unregistered entities or individuals are not protected under Malaysian securities laws and are thus exposed to risks such as fraud and money laundering.”
This article was written by Arnab Shome at www.financemagnates.com.
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Short-Term Analysis for BTCUSD, XRPUSD, and ETHUSD for 27.12.2024
Dear readers, I’ve prepared a short-term forecast for Bitcoin, Ripple, and Ethereum based on the Elliott wave analysis. Major Takeaways BTCUSD: The price continues to decline in correction (4). Consider short positions from the current level with Take Profit at 91,965.00. XRPUSD: A decline to a low of 1.897 is expected. Consider short positions with Take Profit at 1.895. ETHUSD: A decline to a low of 3083.00 is expected. Consider selling from the current level with Take Profit at 3,083.00. Elliott Wave Analysis for Bitcoin BTCUSD has formed a correction [4] as a double zigzag (W)-(X)-(Y) on the H4 time frame. A new bullish wave… Read full author’s opinion and review in blog of #LiteFinance
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