Number of forex accounts held with US forex brokers drops by more than 11,000 to all time low of 97,206 Clients’ profitability is up 6.4% on average, second consecutive quarter that profitability is improving OANDA is still the most ‘profitable’ broker although just 0.1% above GFT US retail forex industry is now showing obvious signs of slow down with number of non-discretionary retail forex accounts held with US based reporting brokers down to record 97,206. This is the lowest count reported since Q3 2010 when first such report was released. Reasons can be many but without any doubt extreme … (full story)
Effective immediately, Philipp Hildebrand is resigning from his office as Chairman of the Governing Board of the Swiss National Bank. He will make a statement on his decision at 3.15 pm in the conference room of the Federal Parliament’s Media Centre, Bundesgasse 8, and will also make a number of documents available.
The European Union failed to secure backing from all 27 countries to change the EU treaty at a summit Friday, meaning any deal will now likely involve the 17 euro zone countries plus any others that want to join, three EU diplomats said. An agreement at 27 fell through after British Prime Minister David Cameron demanded concessions that Germany and France were not willing to give, one of the officials said. During nearly 10 hours of talks that lasted into the night, EU leaders did manage to reach agreement on a ceiling for the size of the euro zone's permanent bailout fund, the ESM, saying it would … (full story)
Italy sold Euro 10 bln at the short term debt auction Sold Eur 8 bln of 6mth BOT yield 6.504% (from 3.535%) cover 1.47 from 1.57 Sold Eur 2 bln of 2yr CTZ yield 7.814% (from 4.628%) cover 1.59 from 2.01. Yield was a new all time high