News 

N.J. weather: Snow returns in wintry Wednesday forecast as temperatures drop after 2 warm, rainy days

“The timing of the arrival of the cold air is likely to be key and could sway the snowfall total forecast, the weather service said” writes Nj Advance Media for nj.com. Rain is expected to mix with sleet and snow before changing to all snow from northwest to southeast Tuesday night through Wednesday morning, the National Weather Service said in its forecast update Monday.The Thursday and Friday forecast calls for sunny, chilly conditions with highs only in the 30s before rain possibly returns on Saturday when highs approach 50. Source: nj.com

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Markets News Platforms 

Big FX platforms see e-trading volumes drop over past three years: BIS

“London and New York hold the first and second spots in market share in global FX trading” writes Min Read for reuters.com. For example, Algorithmic trading on EBS, a major platform, has topped 75% in 2019 compared with nearly zero in 2004.This trend has also been helped by a drop in currency market volatility to record lows.For example, trading ranges in the euro/dollar EUR= last week, the world’s most actively traded currency pair, was the narrowest in two decades. This trend of banks keeping a greater share of their trading…

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News 

A group of developers sent a letter demanding GitHub cancel its ICE contract, saying it puts the Microsoft-owned company at odds with its own community and values

“Last month, some 150 GitHub employees signed a letter urging the company to tear up the contract” writes Ashley Stewart for businessinsider.com. Last summer, more than 100 Microsoft workers signed an open letter urging the company to terminate its $19.4 million ICE contract and stop working with the agency altogether. Source: businessinsider.com

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Futures News Oil 

Oil futures settle sharply higher as U.S. crude supplies drop, traders await OPEC output decision

“Oil futures settled sharply higher on Wednesday, with U.S. prices at their highest finish in almost two weeks as U.S. government data showed the first decline in domestic crude supplies in six weeks” writes Markets Commodities Reporter for marketwatch.com. January West Texas Intermediate oil CLF20, +4.30% rose $2.33, or 4.2%, to settle at $58.43 a barrel on the New York Mercantile Exchange. That was the highest front-month contract finish since Nov. 21, according to FactSet data. Source: marketwatch.com

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‘His team’s jaws drop’: World leaders trash-talk Trump in private conversation

“Canadian Prime Minister Justin Trudeau shared some thoughts about President Trump to other world leaders in a video that was taken during a reception in Buckingham Palace” reports washingtonexaminer.com. The comment was in reference to Trump kicking off the NATO summit in London with a tense press conference with Macron.”You just watched his team’s jaws drop to the floor,” Trudeau added in the video clip.Trump called a Macron comment “nasty” during the press conference. Source: washingtonexaminer.com

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Crypto News 

Plaintiffs in Tether-Bitcoin Price Manipulation Case Will Not Drop Complaint

“The plaintiffs in a class-action lawsuit accusing the Tether (USDT)-affiliated crypto exchange Bitfinex of Bitcoin (BTC) price manipulation have declined to amend their complaint” writes Ana Alexandre for cointelegraph.com. The researchers said: ‚ÄúThis suggests that even if Tether were indeed manipulating the market, its ability to do so actually is strongest when the Bitcoin price falls. Source: cointelegraph.com

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French luxury stocks are diving after Trump threatens $2.4 billion in tariffs on champagne and handbags

“French luxury stocks dropped on Tuesday after US President Donald Trump threatened to slap tariffs on $2.4 billion worth of wine, cheese, handbags, cosmetics, and other key exports” writes Theron Mohamed for businessinsider.com. France’s finance minister called the threatened tariffs “simply unacceptable,” and threatened a “strong European riposte” if the Trump administration pulls the trigger on them.Trump’s tariffs would dramatically increase the costs to the companies of importing products made in France into the US, disrupting their operations and eating into their profits. Source: businessinsider.com

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Markets News Stocks 

Stocks drop as Trump’s Latin American tariffs revive trade angst

“MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.45% in early trade, with Australian shares dropping nearly 2%, on track for their worst day in two months” writes Midwest Communications Inc for 95kqds.com. In currency markets, the dollar rose 0.06% against the yen to 109.04 and the euro was a touch lower at $1.1075.Steven Daghlian, market analyst at CommSec in Sydney, said while the South American tariffs dominated market worries on Tuesday, China’s response to U.S. supporting for anti-government protesters in Hong Kong has also chilled sentiment. Source: 95kqds.com

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