South Asia, with India at its centre, is one of the fastest-growing regions for human trafficking in the world. Your ability to comment is currently suspended due to negative user reports. The Videocon Group is alleged to have pumped money into NuPower Renewables, a firm owned by Deepak Kochhar, in return for the loan sanctioned. Please check your email to confirm your subscription. Ten infants, all under one year old, were found on Friday in a home for the mentally disabled run by a charity in the impoverished district of South 24 Parganas in West Bengal.
The forex trading also known as the forex probe is a financial forex that involves the revelation, and subsequent investigation, that banks colluded for at least a decade to manipulate exchange rates for their own financial gain.
Bank of America Corp. The bank fired two employees after determining they interfered with the probe of alleged inappropriate behavior by Omeed Malik, until recently one of the top executives in the unit, the people familiar with the matter said. The fired employees had earlier been placed on leave, the people said. Malik was fired in January in the wake of complaints from female employees about unwanted advances, The Wall Street Journal earlier reported.
A Bank of America spokesman said the two employees in question no longer worked at the bank. A lawyer for Mr. Malik had no immediate comment. Bank of America said in a recent regulatory filing that Mr. Malik was "discharged [for] personal conduct in violation of firm standards, including interfering with the firm's review of the matter," according to the Financial Industry Regulatory Authority document.
But don't just read our analysis - put it to the rest. Your forecast comes with a free demo account from our provider, IG, so you can try out trading with zero risk. You can manage you subscriptions by following the link in the footer of each email you will receive. Find speculative positioning on the DailyFX sentiment page. Trade wars are growing more and more pervasive. It is getting to the point where even the historic levels of complacency that have developed out of years of unprecedented monetary policy will be able to prop up speculative appetite.
The shift towards competitive growth and populism is not new, but the scale of outright belligerence is reaching levels that were previously considered impossible. That US-implemented duty was justified by the perception that China has been engaged in unfair intellectual property theft for years.
The root of the problem is perception. Each believes they are justified to react and neither is morally motivated - or in dire-enough economic position - to back down. That is a dangerous position for the global economy as this is quickly escalating to destabilizing proportions.
And, even if the ultimate figures are not as extraordinary as what is being touted, we have already drawn the market to more closely question its already separately extreme exposure to risk trends. There are two general dynamics that lead to a self-sustaining deleverage on risk exposure or at its extreme, a full financial crisis and that is the breadth and intensity depth of risk aversion.
We are seeing the first of those aspects solidify in the markets. Following the news of the next stage of trade wars, the Shanghai Composite understandably tumbled. The benchmark Chinese index posted a sharp 3. To make clear this was not an isolated fear targeted on Chinese and US markets, other key Asian and European indices suffered significant losses through Tuesday's session as well.
And, while it may seem reasonable that the US benchmarks were in retreat as well; it is actually a remarkable turn of events given the outperformance they have enjoyed over the past decade. While the Dow may not have lost an exceptional amount of altitude in the past week's slide, it is nevertheless down for six straight trading sessions which is the worst run since March 27, Spreading out to different asset classes, we find the deeply exposed EEM Emerging Market ETF has a series of large gaps lower which adds considerable intensity to a record breaking at least on my chart 9-day dive.
It is the less explicitly exposed US junk bonds, carry trade, speculative commodity declines that should register greater concern among global watchers. As it grows increasingly difficult to ignore or play down the scale of trade wars, it is worth watching the assets with the most direct or generally vested exposure.
Where US indices are sliding at a restricted pace, the Dollar has notably gained this past session despite its explicit implications. The DXY Dollar Index held at the 95 range resistance that has capped previous major bullish swings, but an equally-weighted Dollar index shows actual progress. This currency still maintains certain safe haven aspects even with so many of the headlines pointing back to it.
That immunity will not hold forever, but that in itself speaks to the current state of intensity of the situation. Meanwhile, the Chinese Yuan has depreciated materially amid the rising tide of retaliation, but not likely due to a simple evaluation of this scenario boding more poorly for China.
More likely, this is policy officials allowance for their currency to depreciate as previous massaging yielded no ground in negotiations. Looking for ideal safe havens in this situation, gold is arguably without equal. Yet, with the Dollar rising, the metal remains under pressure.
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