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budget standoff persists Markets Mon Oct 7, 2013 5:04am EDT (Removes reference to CFTC data which cited previous week’s numbers as issued on Friday. CFTC did not release data on http://www.etftradingsignals.com/ Friday) * Boehner’s uncompromising comments raise U.S. debt default fears * Dollar index stuck close to 8-month low * Safe-haven yen hits 5-week high vs dollar, Swiss franc up 0.4 pct By Anooja Debnath LONDON, Oct 7 (Reuters) – The dollar traded near an eight-month low against a basket of currencies, falling against perceived safe havens for investors like the yen and Swiss franc as a U.S. budget impasse showed no sign of breaking.
Forex – NZD/USD lower as budget impasse hurts risk appetite
Foreign Currencies open little changed in the Far East after the European Currencies andJPY fell, and the Commodity Currencies* advanced Friday. The short-term outlook for theForeign Currencies is sideways. The medium-term outlook for most Foreign Currencies is slightly Bullish. TheHeffX-LTN short-term model is Long on all Foreign Currencies.
CORRECTED-FOREX-Dollar struggles as U.S. budget standoff persists
Innovation: Jannick Malling, Co-Founder and CEO at tradable 5. Risk Management: Jeff Wilkins, Managing Director at Think Liquidity 6. Autotrading: Leon Yohai, Founder and CEO at ZuluTrade 7. Sales: Luis Sanchez, Head of Institutional Sales for EU & US at Dukascopy Bank SA 8. Prime Brokerage: Mitch Eaglstein, Managing Director at Boston Prime 9.
Rupee, other forex manipulations face global regulatory probe
While rupee trades account for just about 1 per cent of the global market with a daily average turnover of just about $ 53 billion, nearly half of these trades take place outside India and in jurisdictions outside the direct regulatory supervision of regulators like the RBI and the Sebi. Amid a sharp plunge in rupee value till a few weeks ago, concerns were being raised about large NDF (Non Deliverable Forward) forex market trades in rupee outside India. According to BIS, the average daily foreign exchange market turnover in India stands at about $ 31 billion in 2013, which accounts for 0.5 per cent of the global turnover. However, the daily turnover of rupee trades stands at about $ 53 billion (accounting for a one per cent global market share ), which includes $ 50 billion worth trades in the rupee-US dollar transactions. A huge volume of rupee trades outside India was already a problem area and the latest global regulatory probe into the possible forex market manipulations have now added to the concerns of the Indian regulators, a senior official said, while adding that they would extend all possible support to the global regulatory authorities. Those looking into the matter mainly include Swiss Financial Market Supervisory Authority FINMA, UK’s Financial Conduct Authority (FCA), as also other regulators in Europe and the US, while they are also approaching Indian regulators like Sebi and RBI for the worldwide probe.
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In Asian trading Monday, NZD/USD dropped 0.22% to 0.8303. The pair is likely to find support at 0.8194, the low from October 2 and resistance at 0.8360, the high from September 24. Despite limited demand for some riskier currencies, NZD/USD advanced 0.45%. last week.