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Photo: FM In a busy week for news, here are the stories that dominated the worlds of forex, fintech and crypto, in our picks of the week segment. ‘Morris Coin’ Ponzi Scheme Busted: 36-Year-Old Man Arrested in India As Finance Magnates reported at the start of the week, a 36-year old man has been a

Photo: Finance Magnates A Pennsylvania court has granted the US Commodity Futures Trading Commission’s motion for a default judgment against a Mount Laurel man, who operated three FX brands that conned victims out of hundreds of thousands of dollars. Specifically, the U.S. derivatives regulator al

The firm says any further rebound in the dollar would provide a good opportunity to engage into fresh shorts against the currency   The firm's senior FX strategist, Sean Callow, says that the dollar rally this week has been driven by evidence that the US economy is rebounding quicker in Q3 and that

Photo: David Bily, Founder of Moneta Markets 2020 has been an integral year for many brokers in the forex market. As competition ramps up given a groundswell of new clients, the ability to stay on top is harder than ever. Finance Magnates spoke with David Bily, Founder of Moneta Markets for his pe

Daily Pivots: (S1) 1.1705; (P) 1.1757; (R1) 1.1791; Intraday bias in EUR/USD stays neutral and outlook is unchanged. As long as 1.1695 support holds, further rise could still be seen. On the upside, break of 1.1916 will target will extend larger rally from 1.0635 to 161.8% projection of 1.0774 to 1.

Australia's central bank maintained its interest rate at a record low and quantitative easing unchanged as the package unveiled in March is supporting the economy as expected. The board of Reserve Bank of Australia, governed by Philip Lowe, decided to maintain cash rate and the targeted yield on

AUD - Australian Dollar The Australian dollar crept higher through trade on Wednesday, buoyed by a softer USD and an uptick across equities and commodity prices. Having traded sideways through much of Wednesday the AUD regained upward momentum, again closing in on 0.70 US cents. The AUD touched intr

Photo: Bloomberg Union Standard International Group PTY LTD (USGFX) has revealed to Finance Magnates via a statement that it has entered into voluntary administration on the 8th of July 2020. According to the company, it has gone into voluntary administration to allow USGFX to restructure so that

WTI struggle in major supply territory and amongst COVID-19 uncertainty.  US shale has been hurting and West Texas shale takes the cake. Crude oil prices gained overnight but have since struggled to maintain the momentum as the price rallies into supply territory in the $40 handle.  A better-than-e