Markets News 

JPMorgan and Citigroup just closed bond desks for smaller trades in favor of algorithms. It’s another sign that robots are taking over.

“Some of Wall Streets’ biggest corporate bond dealers are replacing humans with algorithms for a portion of their trades, another sign that the robot revolution is in full swing” writes Dakin Campbell for businessinsider.com. That means the handling of the odd-lot bonds will be managed by algorithms instead of humans.The path to the change was paved in September 2018, when Citi reorganized the corporate bond trading team to bring institutional trading teams and the retail trading teams under one leadership.Citigroup and JPMorgan both recently disbanded teams dedicated solely to trading…

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GBP News 

Sterling loses some ground as traders digest aftermath of Brexit votes this week

“Tick tock, tick tock” reports forexlive.com. I reckon price action will sit around these levels until we get more clarity in the days to come.But unless we get more headlines on that, expect more choppy trading in the pound and price to settle in this deadlock area above the key hourly moving averages but below the 1.3300 handle. Source: forexlive.com

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News 

GBPUSD wanders down to the lower extreme

“Traders who stuck a toe in the water at the 1.3286 extreme saw the price move lower and now traders who are sticking a toe in the water near the 50% level have the chance for a bounce too” reports forexlive.com. Traders who were lucky to sell above and want to play for a break of the floor below, have a “free trade” that if the floor is broken, can be parlayed into a move to 1.31746 or perhaps to the 100 and 200 hour MA s if lucky at…

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Crypto Futures News Platforms 

Digital Currency Group, Polychain Back UK Crypto Futures Exchange Coinflex

“Physically delivered crypto futures exchange Coinflex has attracted two more high-profile crypto investors, Digital Currency Group and Polychain Capital, the exchange tweeted on March 12” writes Helen Partz for cointelegraph.com. Meanwhile, market giant the Intercontinental Exchange (ICE) has recently said that the launch of its crypto platform Bakkt, which is set to include Bitcoin futures trading, is expected later in 2019. Originally announced in August 2018, the digital asset platform’s launch was delayed due to ongoing consultations with the United States Commodity Futures and Trading Commission.In the same announcement, Coinflex…

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News 

Trading ideas, multicharts, and live widgets – SimpleFX unveils new features with lower spreads

“If you need a fast and reliable trading app with 1:500 leverage the “March Madness” promo a great opportunity togive SimpleFX.com a try” reports forexlive.com. Trading Ideas solve this problem as SimpleFX traders can publish and share direct instructions and tips.The publisher will get up to 25% lifetime revenue share from any transaction spread ever generated by the new SimpleFX customer.Each Trading Idea carries the user’s referral link that will track the registrations and trades to pay out the lifetime revenue share. Source: forexlive.com

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Futures Markets News 

Who’s Winning the Race for the Futures Market?

“Both the CME and the CBOE offer cash-settled Bitcoin futures contracts which are fully regulated by the US Commodities Futures Trading Commission” reports financemagnates.com. Huobi Derivatives also offers trading in BTC, ETH, and EOS futures contracts, with more expected to come during 2019.Here we compare Digitex to some of the other top futures exchanges.Unfortunately for the more adventurous traders, Deribit only offers futures contracts against Bitcoin, unlike many others on this list which offer a variety of futures contracts backed by different assets.BitMEX is the current market leader in Bitcoin…

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GBP News 

Dollar comes under pressure as sterling rallies ahead of Brexit vote

“Instead, traders focused on a buoyant British pound, which rallied as traders awaited a key Brexit vote” writes Markets Reporter for marketwatch.com. Last month, the U.S. demanded that China’s yuan be stabilized as part of a trade deal.The U.S. dollar on Monday slipped into negative territory, following a highly anticipated retail sales report that drew little reaction from the greenback.U.S. retail sales rose by 0.2% in January, while the December reading of negative 1.2% was revised to negative 1.6%. Source: marketwatch.com

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Markets News Oil 

Enbridge pipeline delay spooks traders in long-term Canada crude market

“One Calgary-based trader said the Alberta government had ruined trust in the Canadian heavy crude market” writes Midwest Communications Inc for 95kqds.com. Longer-dated trading volumes in the Canadian heavy benchmark Western Canada Select (WCS) vary each month, making year-on-year comparisons of trading volumes difficult, traders said.Severe pipeline bottlenecks depressed Canadian heavy oil prices to the weakest on record last year, prompting the Alberta government to order mandatory production cuts effective Jan. 1, a move that sent prices sky-rocketing and traders scrambling to cover positions.Now, Enbridge’s delay has heightened concerns the…

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