European Commission fines Barclays, RBS, Citigroup, JPMorgan and MUFG €1.07 billion for participating in foreign exchange spot trading cartel

In two settlement decisions, the European Commission has fined five banks for taking part in two cartels in the Spot Foreign Exchange market for 11 currencies - Euro, British Pound, Japanese Yen, Swiss Franc, US, Canadian, New Zealand and Australian Dollars, and Danish, Swedish and Norwegian crowns. The first decision (so-called “Forex - Three Way Banana Split” … Continue reading European Commission fines Barclays, RBS, Citigroup, JPMorgan and MUFG €1.07 billion for participating in foreign exchange spot trading cartel

US Election Shocks the Markets, easyMarkets Trading Conditions Stayed Firm

US voters delivered a surprising result making Donald Trump the 45th President of the United States of America. The markets, which were expecting a Clinton victory, reacted sharply losing billions of dollars in just a few hours. The ASX 200 slumped almost 4% before pulling back to finish 1.9% lower. The Nikkei fell 5.8%, Hang Seng … Continue reading US Election Shocks the Markets, easyMarkets Trading Conditions Stayed Firm