Jul 17 2009

2009-07-17: Forex Magnates Daily Updates

  • Alpari confirm an investigation is ongoing. Say no staff members were arrested while I hear that at least one non-staff member (IB) was interrogated.
  • Barclay CTA Index Slips 0.87% in June; Volatility Chops Both Long and Short Traders.  Managed futures continued their choppy performance in 2009, losing 0.87% in June according to the Barclay CTA Index compiled by BarclayHedge.
  • First FapTurbo Evolution Forward Test:  Whilst the Forex MegaDroid appears to have a leaky memory it does at least manage to do its sums and place some trades from time to time.  So far FapTurbo has been unable to do that.  For some reason known only to itself last night it tried to do some division but failed. Then it threw a tantrum and gave up in disgust at it’s own incompetence.
  • Yi Gang, a former deputy governor of the People’s Bank of China, or the central bank, was appointed as the new head of the State Administration of Foreign Exchanges(SAFE), according to a statement on the SAFE’s website Friday.
  • South Korea to crackdown on retail forex: The Seoul administration will pull out all the stops to prevent retail investors in foreign exchange (FX) derivative transactions from going to extremes in the risk-laden market. Leverage rate will be restricted to just 20 times from the current 50 times. Unlawful transactions via unauthorized players will be also cracked down on.
  • FX360® iPhone™ App – Upgraded : 1) Now with iPod touch support, 2) More currency pairs – added to the FX360® app quotes: EUR/GBP EUR/CHF CAD/JPY AUD/JPY NZD/JPY CHF/JPY GBP/CHF EUR/CAD AUD/CAD EUR/AUD AUD/NZD EUR/NZD. 3)New charting feature – all FX360® app charts now denote the five-minute timeframe on each chart. 4)New economic calendar features – the calendar now includes all times listed in GMT (Greenwich mean time) as well as the currency that is most affected by the economic event listed.

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