A rollercoaster ride in euro pairs caused by an errant tweet preceded today’s ECB press conference, with some brokers suffering momentary outages.
Extreme volatility has caused a stir on the currency markets this European afternoon after a sloppy tweet by the Financial Times. About 10 minutes before the scheduled time for the release of the European Central Bank’s (ECB) statement regarding interest rates, set for 12:45 GMT, the Twitter account belonging to the financial newspaper proclaimed that there won’t be a cut in rates.
As a result, short EUR/USD traders headed for the exits and Liquidity disappeared from the market for several seconds on some trading platforms in the run up to the official announcement by the ECB.
It would all have played out well for the Financial Times if the European Central Bank had indeed left rates unchanged. Come 12:45 GMT, the official statement read that the Governing Council of the monetary policy setting body of the Eurozone has decided to cut rates further into negative territory.
The rollercoaster continued and resulted in a number of swings. Before any of the events described above hit the wires, the EUR/USD was quietly trading around 1.0543. In the aftermath go the ECB tweet, the rate spiked to about 1.0678 only to get hammered and mark a new multi-month low around 1.0515. Profit taking kicked in and a new high at 1.0692 was hit moments after the announcement.
If there was any way to stress test a risk management system for brokers, today was a great day to have a look at how it is faring. A number of brokers have been requiting clients with some platforms freezing in the aftermath of the rate decision.
While the Swiss National Bank Black Swan was an event on a much greater scale, today’s events show that a number of brokers continue to be experiencing technical difficulties that may hit them hard at some point in the future.
Meanwhile, the team at the Financial Times better get some due diligence applied to its Twitter feed and its sources... unless it has a trading department of its own.
Extreme volatility has caused a stir on the currency markets this European afternoon after a sloppy tweet by the Financial Times. About 10 minutes before the scheduled time for the release of the European Central Bank’s (ECB) statement regarding interest rates, set for 12:45 GMT, the Twitter account belonging to the financial newspaper proclaimed that there won’t be a cut in rates.
As a result, short EUR/USD traders headed for the exits and Liquidity disappeared from the market for several seconds on some trading platforms in the run up to the official announcement by the ECB.
It would all have played out well for the Financial Times if the European Central Bank had indeed left rates unchanged. Come 12:45 GMT, the official statement read that the Governing Council of the monetary policy setting body of the Eurozone has decided to cut rates further into negative territory.
The rollercoaster continued and resulted in a number of swings. Before any of the events described above hit the wires, the EUR/USD was quietly trading around 1.0543. In the aftermath go the ECB tweet, the rate spiked to about 1.0678 only to get hammered and mark a new multi-month low around 1.0515. Profit taking kicked in and a new high at 1.0692 was hit moments after the announcement.
If there was any way to stress test a risk management system for brokers, today was a great day to have a look at how it is faring. A number of brokers have been requiting clients with some platforms freezing in the aftermath of the rate decision.
While the Swiss National Bank Black Swan was an event on a much greater scale, today’s events show that a number of brokers continue to be experiencing technical difficulties that may hit them hard at some point in the future.
Meanwhile, the team at the Financial Times better get some due diligence applied to its Twitter feed and its sources... unless it has a trading department of its own.
7% Daily Profit? Regulator Warns of Potential Scam
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!
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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 🔗 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
📣 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:
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s 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 🔗 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
📣 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:
🔗 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!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s 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 🔗 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
📣 Stay updated with the latest in finance and trading!
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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
📣 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:
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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
📣 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:
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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.
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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.
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