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Hong Kong Protests Damper as CrowdStrike Goes Public

Published on: 06/14/19 10:03 AM

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Category: Newsletter

The Second Week of June 2019 mood in the FX market was soured by the Hong Kong civil unrest with traders contemplating safer havens in the midst of worsening tariff tiffs. Forex Broker comparison service FXBrokerFeed brings you some updated news, and trends in the FX Broker Market, featuring cybersecurity outfit CrowdStrike initial IPO offering and Hang Seng jitters.

Hong Kong Protests Sour Market Mood

The protests over legislation allowing extradition of citizens to China turned violent with protestors crashing with police. The Hang Seng Index dropped by nearly 2% despite the Hong Kong dollar maintaining resilience as traders ponder possible outcomes. Any prolonged civil unrest in the important global finance enclave could sour market sentiment and affect liquidity. It may also affect financial markets in the rest of Asia to compound a situation getting worse with escalating tariff wars. There are likely scenarios of traders scrambling to safe havens such as gold but the yen could be a major beneficiary in the event. And a rising yen could spin and engulf the global financial market in a bear scenario.

CrowdStrike Goes Public

CrowdStrike Holdings, Inc. has gone public with an initial offer of 18 million Class A shares according to S-1/A filing in the US. The offer value at $522 million has been approved for listing on the Nasdaq under ticker symbol CRWD. CrowdStrike has invested heavily in cybersecurity to rank high in the ever diversifying Cloud Business. They are flexing muscle at a time when cyberattacks are escalating to play havoc in the market. The company more than doubled its year-on-year revenues to $249.8 million in fiscal 2019. Lead underwriters for the IPO are Goldman Sachs, JPMorgan, Bank of America, Merrill Lynch and Barclays. Today’s traders need a dependable way to navigate through the ever-changing world of Forex trading. FXBrokerFeed brings to you relevant information about FX Brokers and currency pairs 24/7, and is an essential tool that will help improve your trading performance. Start your 30-day free trial today!