By Adil Siddiqui, ForexMagnates.com
Saudi Arabia, the most populous nation in the GCC and the region’s largest economy, has benefited from the energy sector since traces of oil were first discovered over half a century ago. However, with renewable energy in the future, the Kingdom has started to explore new ways to sustain its economy. The country’s financial regulator, the Capital Markets Authority (CMA), has stated that it will open up the restricted Saudi Arabian derivatives market to foreign investors. A move that is expected to boost the country’s economy and initiate the move away from the energy sector. In addition, the advent of global investors are expected to upgrade the entire financial markets landscape where innovative products such as FX and CFD derivatives are widely traded.click here to read more
In today’s edition of my Forex Trading Guide, let’s zoom in on another potential market-mover for the week: the U.K. retail sales release. Let’s stick to our usual routine of understanding why this report is important, what happened last time, what is expected, and how the pound might react, shall we?
The U.K. retail sales report measures the month-on-month growth of sales on the retail level. It basically measures whatever British consumers spend their hard earned pounds on. This includes household goods, clothing, footwear, fuel and other consumer goods.click here to read more
By Adil Siddiqui, Forex Magnates.com
US financial regulator for derivatives organizations, the National Futures Association (NFA), has issued a monetary penalty to New York listed brokerage firm, FXCM. The broker is reported to have breached a number of regulatory rulings, these include dealing with an unregistered firm and for the failure to report trading data.
The fine comes during a sensitive period for global FX markets, as investigations into currency rates manipulation by banking staff has caused friction in the markets.click here to read more