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Nov 3, 2013

TWP | This Week's Market Outlook and Live Webinars November 3, 2013.


from Trade With Precision - www.tradewithprecision.com




Watch this week's market commentary videos where Nick McDonald provides an outlook on currency and equity markets and how he plans to trade them this week.

Also remember to register for this week's webinars:
The Top Ingredients For Successful Trading runs on:
High Performance Trading For A Busy Lifestyle runs on:

Probes Into Forex Trading Spread Across Globe - Submitted on November 2, 2013: GATA | THE GATA DISPATCH.

Probes into forex trading spread across globe

By Daniel Schfer and Caroline Binham
Financial Times, London
Friday, November 1, 2013
http://www.ft.com/intl/cms/s/0/1d20d216-431b-11e3-9d3c-00144feabdc0.html

A global probe into the manipulation of foreign exchange markets escalated dramatically on Friday when it emerged that Barclays had suspended six traders and two of the largest US banks revealed they had become embroiled in the investigation.

Revelations that Barclays had suspended six staff, including its chief currencies trader in London, capped a torrid week for some of the world's largest banks with signs that a wave of new regulatory probes across three continents poses a growing threat to earnings.

With more and more banks becoming ensnared and senior figures being put on leave, bankers and investors said the affair increasingly resembled the Libor rigging scandal. The Libor probe has so far led to the dismissal of many dozens of traders, while four banks and one interdealer broker have paid a total of $3.5 billion in fines.

Authorities including those in Switzerland, the UK, Hong Kong, and the US have opened preliminary investigations into whether some of the biggest banks in the world rigged the foreign exchange market, which has daily volumes of $5.3 trillionn and is used by millions of companies, institutional funds and retail investors.

Crucial benchmark rates in the mostly unregulated market are set based on transactions made during short windows of 60 seconds for the largest currencies. Regulators are investigating if traders colluded to move these benchmarks, although none has been formally accused of wrongdoing.

After a series of high-level suspensions this week, there are now at least a dozen traders across six banks on leave. They include several of the most senior traders in the market such as Barclays' Chris Ashton, who oversees the bank's voice-spot trading around the world.

At least six of the leading banks in the foreign exchange market -- where everything from the leading reserve currency, the US dollar, to smaller currencies such as the Hungarian forint are being traded -- have now confirmed they have received requests from regulators.

Citigroup and JPMorgan on Friday became the latest banks to confirm they were co-operating with regulators on the investigations, joining Barclays, UBS, Deutsche Bank, and Royal Bank of Scotland.
US investment bank Goldman Sachs has also started to look internally for any signs of wrongdoing, as has HSBC, according to people familiar with the situation. All the banks mentioned declined to comment. Credit Suisse is also looking into the matter, it said in an earlier statement.
Authorities around the world are also examining whether other benchmark rates, including oil-spot markets, have been manipulated.
"This [litigation] risk is by far the one that worries me the most," said the global head of trading at a large investment bank. "It is like banks don't have an immune system any longer. A cold can kill you these days."

In the UK, Sir Philip Hampton, chairman of the majority state-owned RBS, played down the chances of the taxpayer ever receiving a profit on its L45 billion investment, partly because of the mounting costs of litigation and customer compensation.

He said that more than half of the L45 billion that was pumped into the bank had been eroded by "irrecoverable" losses -- including its bill for mis-sold payment protection insurance, interest rate swaps, and Libor charges.


NYT | Asian Morning November 3, 2013: Stick Figures and Stunted Growth as Warring Syria Goes Hungry

The New York Times
NYT Apps | Subscribe: Digital / Home Delivery

Sunday, November 3, 2013



Top News
At a Syrian refugee camp near the border with Turkey, a boy, waiting in line for a hot meal, looked inside a tent at stacks of bread. Millions in the war-torn nation are suffering from hunger.
Stick Figures and Stunted Growth as Warring Syria Goes Hungry

By ANNE BARNARD

Across Syria, a country that long prided itself on providing affordable food to its people, efforts to ensure basic sustenance appear to be failing, and millions are going hungry.

The Caucus

Clemency for Snowden? U.S. Officials Say No

By BRIAN KNOWLTON

The White House and two key members of Congress rejected Edward J. Snowden's plea for clemency for his disclosures of classified surveillance documents.
ALLIES AND SPY TARGETS President Obama with other G-20 leaders in St. Petersburg, Russia, in early September, standing between President Dilma Rousseff of Brazil, left, and Chancellor Angela Merkel of Germany.
No Morsel Too Minuscule for All-Consuming N.S.A.

By SCOTT SHANE

The National Security Agency finds itself under intense pressure after disclosures of spying on allies and rivals alike, but it defends the wide net it casts.
. Video  Video: N.S.A.'s Evolution
. Documents N.S.A. Efforts to Spy on Both Enemies and Allies
. Coverage From The Guardian 

Editors' Picks

WORLD

Video Video: The N.S.A.'s Evolution
The National Security Agency was founded in 1952, and its surveillance capabilities were limited by legislation in 1978. But with the attacks of September 2001 came a new sense of urgency.
. Related Article

OPINION | Opinion

Plutocrats vs. Populists

By CHRYSTIA FREELAND

Pop-up plutocracy and the new populism are in conflict over the direction of America's future.
World
That Other Big Afghan Crisis, the Growing Army of Addicts

By AZAM AHMED

A new report underscores a growing crisis in the city of Herat: one in every five households contains at least one drug user.
Secretary of State John Kerry was greeted by Egyptian officials as he arrived in Cairo on Sunday.
Kerry Says He Sees Signs That Egypt Is on Path to Democracy

By MICHAEL R. GORDON

In Cairo, Secretary of State John Kerry indicated that additional steps needed to be taken to establish an inclusive, civilian-led government.
For more world news, go to NYTimes.com/World
Business
Samsung Prepares to Slowly Lift a Curtain to Investors

By ERIC PFANNER

The technology giant, known for playing its cards close to the vest, is holding only its second meeting of management with analysts.
344,000 Minivans Recalled by Honda for Brake Problem

By CHRISTOPHER JENSEN

The recall, like an earlier one in March, is to fix a problem in the vehicle's computer that could result in unexpected braking.
9:01 P.M., OCT. 23 The ever-churning imagination of Gary Vaynerchuk has helped many big-name clients build a marketing presence on social media. He met with employees at the Manhattan headquarters of VaynerMedia, his agency.
Riding the Hashtag in Social Media Marketing

By DAVID SEGAL

Gary Vaynerchuk, a social media marketer, pounces on any trend - tweeted or otherwise - in his quest to sell, sell, sell.
. Photographs  Slide Show: Social Media Animal for Hire
For more business news, go to INYT.com/Business
Technology
The Filip voice watch has a panic button to help lost children find adult help.

Novelties

If a Young Child Wanders, Technology Can Follow

By ANNE EISENBERG

New devices for keeping tabs on small children use GPS, Wi-Fi and other location-tracking technology and can be linked to apps on a parent's phone.

Education Life

Innovation Imperative: Change Everything

By CLAYTON M. CHRISTENSEN and MICHAEL B. HORN

Online education is beginning to show itself as a disruptive innovation, introducing more convenient and affordable services that can transform sectors.
Twitter's San Francisco headquarters, in a 1937 Art Deco building. Many tech industry firms are expanding to the city.
Twitter Helps Revive a Seedy San Francisco Neighborhood

By KRISTINA SHEVORY

Before Twitter moved in, San Francisco's Mid-Market area was run down and not very safe. Now that's changed, thanks to tax breaks and a need for office space in the city.
For more technology news, go to NYTimes.com/Tech
ADVERTISEMENT
Sports
Geoffrey Mutai, of Kenya, crossing the finish line to win the New York City Marathon.
Biding His Time, Mutai Repeats as Men's Champion

By KEN BELSON

The Kenyan Geoffrey Mutai became the first man to win back-to-back New York Marathon titles in 15 years.
. Notes and Analysis | Comment Post a Comment
Priscah Jeptoo looking back while passing Buzunesh Deba on her way to winning the women's elite division of the New York City Marathon.
Jeptoo, Trailing for Miles, Rallies to Win Women's Race

By MARY PILON

Buzunesh Deba and Tigist Tufa built a huge lead before Priscah Jeptoo ran them down, taking the lead around Mile 24 to win by 49 seconds.
Tatyana McFadden smiling after crossing the finish line to win the women's wheelchair division of the New York City Marathon.
McFadden Finishes Sweep of Top Four Wheelchair Titles

By ZACH SCHONBRUN

Tatyana McFadden won the New York City Marathon, after capturing Boston, London and Chicago this year. She is the first person to win all four major marathons in a year.
For more sports news, go to INYT.com/Sports
U.S. News
Travelers were screened by Transportation Security Administration agents after Terminal 3 was re-opened a day after a shooting at Los Angeles International Airport on Saturday.
At Los Angeles International Airport, Two Lives Collide in a Fatal Instant

By JENNIFER MEDINA and IAN LOVETT

As officials sought a motive for Paul A. Ciancia, charged in the death of a T.S.A. agent, it became clear that he was a drifter with a grudge against the government.
Senate Vote on Workplace Bias Against Gays a Test for the G.O.P.

By JEREMY W. PETERS

Accused of being out of touch on social issues, Republicans face a question of gay rights at the federal level with the vote Monday to outlaw workplace discrimination against gay men, lesbians and transgender people.
Jason Medrano Garcia, left, and his classmates worked on a lesson at Alice Terry Elementary School in Englewood, Colo. Amendment 66 would make full-day kindergarten standard across the state.
In Colorado, a Tax Increase Referendum Is Tied to Improving Schools

By JACK HEALY

Voters on Tuesday will be asked to approve a plan to raise $1 billion in additional taxes.
For more U.S. news, go to NYTimes.com/US
Opinion
An art show in Zwolle, the Netherlands, in 2005 featured forged works of Fernando Botero by the painter Geert Jan Jansen.

Opinion

In Praise of Art Forgeries

By BLAKE GOPNIK

While forgery is an economic crime, it may not always be an artistic or aesthetic one.

Op-Ed Columnist

From Love Nests to Desire Surveillance

By MAUREEN DOWD

Tabloid editors charged with breaking the law to expose others' intimate secrets are now having their own intimate secrets exposed in court.
. Columnist Page
The creation of Eve, from Lorenzo Ghiberti's Gates of Paradise for the Baptistery of San Giovanni in Florence, Italy.

Opinion

Keep the Gates of Paradise Open

By SUSAN JACOBY

Just because a city is impoverished doesn't mean its people are not worthy of great art.
For more opinion, go to INYT.com/Opinion

Gerald Celente Trends in The News: Trick or Tweet? 10/31/13

iPads Banned From Cabinet Over Chinese Spying Fears: The Telegraph Front Page P.M. November 3, 2013.



 
The Telegraph
Sunday, November 03, 2013
   
FrontpagePM
   
 
 
News    
   
 

 
iPads banned from Cabinet over Chinese spying fears

News   iPads have been banned from Cabinet meetings due to fears of foreign intelligence agencies bugging confidential meetings

Veil is like living in bag, says Ken Clarke

Car left hanging off motorway flyover

Cardiff City v Swansea City: live

How wild rumour led mob to murder innocent man
 
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Cardiff City v Swansea City: live

Sport   Read a full match preview of the Premier League game between Cardiff City and Swansea City at the Cardiff City Stadium on Sunday Nov 3, 2013, kick-o...

Spurs back in top four after goalless draw

Wenger: We showed we can win the big games

Bale is already a popular figure at Real

Sven: 'I signed deal to manage Man Utd'

Finance

Billionaire backs Marc Bolland's plan for Marks & Spencer

Finance   Dunelm founder says Marc Bolland gives "120pc" as chief executive, even though retailer is expected to report falling clothes sales next w...

US fund among group taking control of Co-op

Morrisons lines up store sales to unlock cash

Britain seeks Qatari gas and funds

RBS in talks to cancel 'B' shares
 
comment

Matthew d'Ancona : Labour's future rests on two bright boys

A Evans-Pritchard : Southern Europe is on a precipice

Jenny McCartney : Save Britain from the wrecking ball
 
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Culture: The X Factor, disco classics week

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How about that

Stormy sea lashes Clevedon front

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Firefighters battle bush fire in Australia

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Telling the story of the match

Sponsored   IBM worked with the RFU to produce IBM TryTracker, which gets across the intricacies of rugby in a way that is engaging for those new to the game and insightful for fans