EUR/USD regains yesterday's losses
The US dollar surged yesterday after the positive US data, but turned down today. Jump in to get a market wrap!
China regulates fund outsourcing business to withstand shadow banking
China's securities regulator has recently introduced fresh restrictions for financial institutions considering outsourcing fund management to external fund managers, as the government tightens shadow banking. That’s what the official Securities Times informed on Monday
Financial institutions, including insurers and banks have been providing fund management mandates to funds exceeding 1 trillion Yuan to mutual fund houses because they outsource their wealth management operations.
Regulators are concerned that such funds are utilized as a shadow banking channel by many lenders for the purpose of making risky bets in corporate equities or bonds, without efficient management by the external fund house.
In order to prevent this, on Friday, the China Securities Regulatory Commission released rules, requiring funds where single institutions control 50% or more to operate exactly as closed-end funds, and barring them from getting subscriptions from individual investors.
Similar
How to trade after US Consumer Confidence?
The report will be out on Tuesday at 17:00 MT time!
Trump screws Biden over before leaving
All the Forex news that can impact the market today are presented here!
Latest news
All eyes on AUD
Australian Private Capital Expenditure will be out on Thursday at 2:30 MT time!
Market is crazy after Biden’s transition
Oil jumped to March high, stocks are heading to record highs, while the US dollar is on the back foot.
Wednesday is full of US reports
News geeks get ready for the chain of US reports, which starts at 15:30 MT time on November 25!
Deposit with your local payment systems
