Day: September 8, 2014

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Here Is Why Europe Just Launched The “Nuclear Option” Against Russia

GIHAdmin

Europe’s leaders, we assume under pressure from Washington, appear to be making a big weather-related bet with their taxpayers’ lives this winter.  As they unleash funding sanctions on Russia’s big energy producers, Europe has pumped a record volume of natural gas into underground inventories in an effort to ‘outlast’ Russia and mitigate any Napoleonic “Winter […]

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Interbank FX transfers MT4 accounts to FXCM

Elite Forex Blog - Market Research & Analysis

Dear valued client,

As you may already have heard, TradeStation has announced an agreement between its IBFX, Inc. and IBFX Australia Pty Ltd subsidiaries, and a subsidiary of FXCM Inc., in which all retail accounts in the “MetaTrader/MT4” division of both IBFX forex subsidiaries will be transferred to FXCM.

Having supported two forex business lines – MT4 and TradeStation – for some time, we have now decided to focus solely on our TradeStation Forex platform offering.

TradeStation’s success over the past 15 years is due in large part to the unique, differentiating features and functions offered by the TradeStation platform, and this move will enable us to focus our resources on continuing that success.

This change will not affect your TradeStation Forex account(s). Should you have any questions, please contact us.

Sincerely yours,

Gary Weiss,
President of IBFX, Inc.



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De-Dollarization Continues: China-Argentina Agree Currency Swap, Will Trade In Yuan

Elite Forex Blog - Market Research & Analysis
It appears there is another nation on planet Earth that is becoming isolated. One by one, Russia and China appear to be finding allies willing to ‘de-dollarize’; and the latest to join this trend is serial-defaulter Argentina. As Reuters reports, China and Argentina’s central banks have agreed a multi-billion dollar currency swap operation “to bolster Argentina’s foreign reserves” or “pay for Chinese imports with Yuan,” as Argentina’s USD reserves dwindle. In addition, Argentina claims China supports the nation’s plans in the defaulted bondholder dispute.
Having met ‘on the sidelines’ in Basel, Switzerland in July, Argentine and Chinese central banks agreed to a currency swap equivalent to $11b that Cabinet Chief Jorge Capitanich said could be used to stabilize reserves.. (as Reuters reports)
Argentina, which defaulted on its debt in July, will receive the first tranche of a multi-billion dollar currency swap operation with China’s central bank before the end of this year, the South American country’s La Nacion newspaper reported on Sunday.
The swap will allow Argentina to bolster its foreign reserves or pay for Chinese imports with the yuan currency at a time weak export revenues and an ailing currency have put the Latin American nation’s foreign reserves under intense pressure.
La Nacion said Argentina would receive yuan worth $1 billion by the end of 2014, the first payment of a loan worth a total $11 billion signed by Argentina’s President Cristina Fernandez and her Chinese counterpart in July.
In adition, Bloomberg reports
People’s Bank of China Governor Zhou Xiaochuan expressed his support for Argentina in its legal fight against holdout bondholders

http://www.zerohedge.com/news/2014-09-07/de-dollarization-continues-china-argentina-agree-currency-swap-will-trade-yuan  

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