Popped up on the other thread, but the financial markets are getting very exciting.
Two bits of news: -
Swiss franc soars as Switzerland abandons euro cap
http://www.bbc.co.uk/news/business-30829917
IG Index warns of a £30m loss on Franc move
http://www.investegate.co.uk/ig-group-h ... lc%20Alert
Swiss franc
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marksmeets302
- Posts: 527
- Joined: Thu Dec 10, 2009 4:37 pm
Rolexes tend to keep their value or go up. If there was ever a time to buy them, it should be within the next week. Jewelers won't adjust their prices immediately.
As an investment it's probably best to keep them locked away. I know I can't resist not wearing them so it's probably not a good idea for me
As an investment it's probably best to keep them locked away. I know I can't resist not wearing them so it's probably not a good idea for me
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superfrank
- Posts: 2762
- Joined: Fri Aug 14, 2009 8:28 pm
other FX brokers in trouble too...Euler wrote:Alapari - West Ham sponsor has gone bust: -
http://www.alpari.com/company-news/post ... ouncement/
http://www.zerohedge.com/news/2015-01-1 ... on-spreads
FX brokers are worse than bookies. good riddance.
Just spoken to one of my fund administrators to check the status of funds. He is having one hell of a day! It looks like my exposure is small but it's more the secondary impact that's concerning me now. Monday could be all fun and games, it's chaos out there at the moment and the public can't see it at the moment.
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superfrank
- Posts: 2762
- Joined: Fri Aug 14, 2009 8:28 pm
yeah, volatility has been increasing of late ahead of ECB QE i guess?
odd decision by the Swiss - a central bank withdrawing from market manipulation... whatever next?!!
odd decision by the Swiss - a central bank withdrawing from market manipulation... whatever next?!!
Quite a few brokers will go bust simply because people fear they will go bust. Massive flight to safety underway.
FX trading is just far too highly leveraged. I've done a lot with FXCM simply because they gave me the flexibility to do a lot things others can't do but that's going to kill them now by the look of it.
FX trading is just far too highly leveraged. I've done a lot with FXCM simply because they gave me the flexibility to do a lot things others can't do but that's going to kill them now by the look of it.
The Wall Street Journal reported that Goldman Sachs on Thursday closed what had previously been one of its top trade recommendations for 2015: shorting the Swiss franc versus the Swedish krona SEKCHF, +1.73% after the franc jumped as much as 14% on the day versus its Swedish counterpart..
Surprised by the exposure in Eastern europe, this will have a knock on effect
http://www.bloomberg.com/news/2015-01-1 ... nsive.html
http://www.bloomberg.com/news/2015-01-1 ... nsive.html
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superfrank
- Posts: 2762
- Joined: Fri Aug 14, 2009 8:28 pm
Euro falling hard again and dollar parity not out of the question. 'looks like ECB QE is gonna be big (probably why the Swiss bailed out now).
the financial crisis continues!...
the financial crisis continues!...
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marksmeets302
- Posts: 527
- Joined: Thu Dec 10, 2009 4:37 pm
Last edited by marksmeets302 on Fri Jan 16, 2015 4:36 pm, edited 1 time in total.
The financial crisis never really ended, it was just put on pause somewhat by the stupendous amounts of money printed in the desperate QE programs. The fact there was virtually no inflation despite all this money printing suggests volcanic deflationary pressure building and building and building....superfrank wrote:Euro falling hard again and dollar parity not out of the question. 'looks like ECB QE is gonna be big (probably why the Swiss bailed out now).
the financial crisis continues!...
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superfrank
- Posts: 2762
- Joined: Fri Aug 14, 2009 8:28 pm
+1 Zenyatta
even worse, imho, is that the printed money is used to buy assets (essentially a wealth transfer to the rich) in the hope that trickle-down economics will benefit real economies (not much evidence that it has worked).
currency wars continue. the US will print again when the strong $ starts to hurt them.
even worse, imho, is that the printed money is used to buy assets (essentially a wealth transfer to the rich) in the hope that trickle-down economics will benefit real economies (not much evidence that it has worked).
currency wars continue. the US will print again when the strong $ starts to hurt them.
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andyfuller
- Posts: 4619
- Joined: Wed Mar 25, 2009 12:23 pm
In what way do you think Peter?
Sounds like a decent deal to me and looking at the financial results of FXCM it seems a good bet.
One thing of the last few days is that it is good to see that the client funds in the like of Alpari were actually kept in a ring fenced account so clients should get their money back.
One thing I am not entirely sure about is that why some companies such as City Index and IG relatively speaking to some of the losses experienced by others were so much smaller.
Could it be because City Index/IG may not have hedged the bets in the market and were just taking the opposing side? As such when clients losses exceed their funds they can just write off the losses that can't be recovered?
Sounds like a decent deal to me and looking at the financial results of FXCM it seems a good bet.
One thing of the last few days is that it is good to see that the client funds in the like of Alpari were actually kept in a ring fenced account so clients should get their money back.
One thing I am not entirely sure about is that why some companies such as City Index and IG relatively speaking to some of the losses experienced by others were so much smaller.
Could it be because City Index/IG may not have hedged the bets in the market and were just taking the opposing side? As such when clients losses exceed their funds they can just write off the losses that can't be recovered?