Google Building New HQ In London Despite Brexit
Brexit is back in the headlines. With the British Pound taking a hit and sinking to new 31 year lows, and the British government getting entangled in all kinds of mind boggling messages about the future of foreign nationals working in the UK, it would be strange to have some of the largest corporations on earth investing in new office space in Britain. But despite the growing anxiety that a ‘hard Brexit’ may cause, a lower Sterling creates precisely the kind of opportunity that many would like to jump at. Google is one of the players poised to take advantage of the situation.
A weaker pound does serve as an incentive to invest in the UK. After all this is still a G7 nation, with fantastic infrastructure, a great market for human talent and the fifth largest economy on earth. This means investors will flock in, especially if they are in the high-tech sector. This is a sector that know no boundaries, because it relies on the borderless internet, and the UK has a history as a leader in technological development. read more…
Oil Prices Keep Rising Despite Fed Rate Hike Talk
Crude has been on a roll since last week’s OPEC meeting. WTI is trading around the $49.50 USD mark, looking to break the $50 USD psychological barrier, and stay above it. That is if a Fed rate hike doesn’t dampen expectations. Once again there is a lot of talk about a rate hike before December. Analysts think it will come during the month of November, and oil prices tend to come down when rate hikes happen. So far oil markets are shrugging rate talk off.
As a result, WTI is at a 3 month high and it is looking to close the year with spectacular gains. Prices reached their bottom at around $27 USD on January 20th. Talk about production cuts had dominated headlines all around, but few seemed to believe that Saudi Arabia and Iran would be able to reach a deal. As a result, oil saw short rallies followed by small declines that kept its price between the $40 USD per barrel and $50 USD mark for months. read more…
Colombia’s Brexit Moment
In a closely contested referendum, the people of Colombia voted against the legal framework for the implementation of a peace deal between the government and the FARC guerrillas. With the outcome of this vote, Colombia, which has been involved in a 52 year war against the FARC, stepped into the unknown. This kind of uncertainty draws a parallel with that of Britain after the contested Brexit vote. But as surprising as both outcomes were – they defied every poll taken – the economic implications are radically different.
Britain has faced a post-Brexit threat of reduced foreign investment. The threat has not really materialized over the past months, and it will take time until the investment environment clears – so far Britain is expected to complete its EU pull out by 2019 – for the markets to see the difference. In Colombia the situation is radically different. The peace agreements were touted as a way to get Colombia back on track after commodity-seeking foreign investment started to dry up from the second half of 2014. read more…
OPEC Agrees To Cut Oil Production
What seemed impossible a few days ago, is now a reality. Bitter rivals within the cartel of oil producing countries have ironed out their differences in order to boost oil prices. But even if the gaps between Saudi Arabia and Iran in terms of production quotas were bridged, oil prices will remain volatile. Oil markets have evolved since the 1970’s, when OPEC had complete control over the price of crude through production quotas. The new, more dynamic oil markets could well send prices back down towards the low $40’s even after OPEC reduces its output.
The key players in the game are non-OPEC members. On one side Russia, which is one of the biggest – if not the biggest – oil producers in the world, could well move in and fill the gap. This is unlikely since apart from its own economy, its regional ally, Iran, would also benefit from a higher price. Still Putin could play with Russia’s supply to hurt the Saudis, whom have hurt Russia with their oil policies for 2 years now. read more…
Are Binary Options Really Financial Instruments? Leverate Thinks so.
For those of you who are new to Binary Options you may ask yourselves if binary option trading is really trading in the financial markets. As we know you are not actually trading the asset but you are making a binary (meaning one of two outcomes only) trade where you choose if the asset will move up or down in a given time period. If you are not sure then hear this, Leverate, the leader in Forex trading has just entered the Binary Options marketplace with its BX8 Platform.
Trading Screen Using Leverate BX8 Platform
Leverate has been leading the way in innovating Forex trading since 2008 with its platform LXSuite. With over 150 Forex brands running off its platform there is no denying Leverate know financial trading. Leverate sees binary options as a natural extension of its Forex platform for trading in financial assets and has decided to take its technology supremacy to the binary options market as well.
Leverate’s binary platform, BX8, has been built to give the trader a unique experience when trading binary options. It has a sleek look with eight options always available to trade at the same time. You choose the asset that you want to trade and the four expiry times are laid out in front of you. There is no need to search for the expiry you want. There are also always four different 60 second options available in the trader’s room which allows quick and easy trading.
Financial Markets – Preview for Week Starting 28th August 2016
Major Events of Last Week
A pivotal event occurred last Friday when Janet Yellen, the Chairperson of the US Federal Reserve, delivered an important speech. She advised that the probabilities of an interest rate hike within the imminent future have undoubtedly increased during recent months because of improving economic growth and a strengthening labor market. However, she still refrained from providing an exact timetable for when a hike will be executed although she did endorsed the viewpoint that such an action could be implemented before the end of 2016. The topmost US indices produced mixed reactions last Friday typified by the Dow Jones Industrial Average plunging 43 points; the S&P500 dropping by 2 points while the NASDAQ climbed by 8 points. read more…
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FinCEN Cracks Down on Virtual Currency
Money Laundering Laws Apply to Crypto-Currency
The main US Money Laundering Regulator, FinCEN, recently told a Bitcoin trade group that they must adhere to all rules that apply to any financial institution.
This clarified a March 18 ruling by FinCEN stating that several of the layers in the virtual currency business must register as MSB’s. An MSB (Money Services Business) is required to collect information and combat money laundering by any of their customers. The earlier ruling spoke generally of virtual currencies, but the meeting of this week made clear that the rules apply to Bitcoin as well.
“Virtual Currency administrators and Exchangers must register with FinCEN as Money Service Businesses like any other Financial Institution.”
The laws designating an MSB apply to those involved in the transfer or exchange of currencies. A person who buys products with a virtual currency is not an MSB whereas someone who exchanges it for a different currency would be an MSB. The question as to whether someone who mines Bitcoin is not clear. A Minor who goes on to transfer the Bitcoin for a different currency would qualify as an MSB, whereas one who uses the mined currency to buy goods and services probably would not qualify.
Is Federal Regulation Good For Bitcoin?
The official line from the Bitcoin trade group and the head of Bitcoin companies is that they welcome federal regulation as a way to add legitimacy to virtual currency. On the other hand cryptocurrency has become a way to make illicit purchases thus leading to its rapid growth.
Ultimately the success of the virtual money will be in its acceptance as a real currency. The recent ruling in favor of the SEC designating Bitcoin under their jurisdiction and the FinCEN order are crucial steps towards this end. Alternatively government agencies could have used there clout to try and make virtual currencies illegal. By making efforts towards regulation it makes it clear that cryptocurrecies are legitimate forms of money and will be accepted as such for the foreseeable future.
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