Hectic forex trading on Wednesday brought trading volumes at retail brokerages close to the best day this year, September the 4th, when Mario Draghi triggered a huge euro short, which now apparently is being covered.
According to publicly available data released by KCG Hotspot, the company achieved a new record high of $59.5 billion in FX trading volumes on Wednesday. With the currency market heavily long on the US dollar, traders today headed for the exit as a major selloff in U.S. equities continued and U.S. bond yields tanked to their lowest level since 2013.
KCG Hotspot reported almost $60 billion changing hands on its electronic Trading Platform on Wednesday, which is higher by more than $3 billion than the company's previous record set in the aftermath of the European Central Bank President's speech, which triggered the initial sharp spike in volatility on the Forex market.
On that very same day in September, the worldβs leading settlement service for the foreign exchange markets, CLS, announced that the total volume traded on the global foreign exchange market surpassed $10 trillion and the the provider settled over two million FX instructions for the first time.
According to sources across the industry, volumes at major retail forex brokerages have also been quite heavy on Wednesday. The US dollar index lost more than a full point in trading today, as the bond market is starting to question the Fed's resolve to raise U.S. interest rates in light of oil prices tanking and subdued wage pressures warranting low inflation.
During the day, the single european currency rallied the most since June 2013, in roller-coaster trading. With FX volatility picking up materially in September there's been an overwhelming consensus amongst major forecasters, that the Federal Reserve is going to raise interest rates in the second quarter of next year.
Recent U.S. bond yield moves suggest that these expectations are far fetched and the wrong footed market caught up to the idea on Wednesday. The US dollar has been sold off across the board losing ground to all major foreign currencies.
The U.S. government's bond yield dropped as low as 1.873%, which is its lowest level since May 2013. The move in bonds and stocks led investors to question the Federal Reserve's resolve to normalize interest rates just as the U.S. central bank announced the end of its tapering effort and is on its way to stop purchasing bonds for the fourth time in six years.
All previous attempts by the Fed to end bond purchases have resulted only in more of the same policy medicine being used to drive interest rates lower and stimulate a rise in asset prices.
According to sources close to Forex Magnates the extraordinary amount of moves in the foreign exchange market is a result of massive liquidation of US dollar longs as the next U.S. central bank's meeting is on the horizon.
The Federal Reserve's Open Market Committee will meet later this month on the 28-29th of October and is widely expected to announce the end of the third round of the Federal Reserve's bond purchasing program (QE3).
According to publicly available data released by KCG Hotspot, the company achieved a new record high of $59.5 billion in FX trading volumes on Wednesday. With the currency market heavily long on the US dollar, traders today headed for the exit as a major selloff in U.S. equities continued and U.S. bond yields tanked to their lowest level since 2013.
KCG Hotspot reported almost $60 billion changing hands on its electronic Trading Platform on Wednesday, which is higher by more than $3 billion than the company's previous record set in the aftermath of the European Central Bank President's speech, which triggered the initial sharp spike in volatility on the Forex market.
On that very same day in September, the worldβs leading settlement service for the foreign exchange markets, CLS, announced that the total volume traded on the global foreign exchange market surpassed $10 trillion and the the provider settled over two million FX instructions for the first time.
According to sources across the industry, volumes at major retail forex brokerages have also been quite heavy on Wednesday. The US dollar index lost more than a full point in trading today, as the bond market is starting to question the Fed's resolve to raise U.S. interest rates in light of oil prices tanking and subdued wage pressures warranting low inflation.
During the day, the single european currency rallied the most since June 2013, in roller-coaster trading. With FX volatility picking up materially in September there's been an overwhelming consensus amongst major forecasters, that the Federal Reserve is going to raise interest rates in the second quarter of next year.
Recent U.S. bond yield moves suggest that these expectations are far fetched and the wrong footed market caught up to the idea on Wednesday. The US dollar has been sold off across the board losing ground to all major foreign currencies.
The U.S. government's bond yield dropped as low as 1.873%, which is its lowest level since May 2013. The move in bonds and stocks led investors to question the Federal Reserve's resolve to normalize interest rates just as the U.S. central bank announced the end of its tapering effort and is on its way to stop purchasing bonds for the fourth time in six years.
All previous attempts by the Fed to end bond purchases have resulted only in more of the same policy medicine being used to drive interest rates lower and stimulate a rise in asset prices.
According to sources close to Forex Magnates the extraordinary amount of moves in the foreign exchange market is a result of massive liquidation of US dollar longs as the next U.S. central bank's meeting is on the horizon.
The Federal Reserve's Open Market Committee will meet later this month on the 28-29th of October and is widely expected to announce the end of the third round of the Federal Reserve's bond purchasing program (QE3).
Cheetah Fund Investors Lose $9 Million in Alleged Fraudulent Scheme
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
π£ Stay updated with the latest in finance and trading!
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
π£ Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
π LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
π Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africaβs premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
π£ Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
π LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
π Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africaβs premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
π£ Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
π LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
π£ Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
π LinkedIn: https://www.linkedin.com/company/financemagnates/
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π Subscribe to our YouTube channel for more!π
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
π£ Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
π LinkedIn: https://www.linkedin.com/company/financemagnates/
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Don't miss out on our latest videos, interviews, and event coverage.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
π£ Stay updated with the latest in finance and trading!
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Don't miss out on our latest videos, interviews, and event coverage.
π Subscribe to our YouTube channel for more!π
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
π£ Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
π LinkedIn: https://www.linkedin.com/company/financemagnates/
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