The First Week of June 2019 activity in the FX market was punctuated with nervous trading and cautious expectation on tariffs, Brexit and safe havens. Forex Broker comparison service FXBrokerFeed brings you some updated snapshots, and trends in the FX Broker Market, featuring Securities and Exchange Commission new regulations and Gold in a confident Romp.
SEC Cracks Whip
The Securities and Exchange Commission (SEC) has legislated and imposed new and stricter rules that compel Brokers in the US to act in their clients best interests.Considering that Brokers and Dealers usually make money from investment advice they offer investors, the new Regulation Best Interest will protect investors. Brokers and Dealers are henceforth required to disclose realistic levels of benefit from advice they offer investors.According to the SEC, the new rules have been a long time coming. They will set a new FX Market benchmark for product enhancement and clarity, in an era of versatile and real-time electronic transactions.
Gold Rallies as Dollar Slides
The commodities scene saw gold on the rebound as investors exchanged the USD for the yellow metal, and indeed all precious metals amid speculation of rate cuts by Federal Reserve.Gold seems headed for an all year-high at 1,343, representing a solid 5% gain since May, and one bound to test the February 20 high maximum of 1,346 per ounce.Despite bullish predictions of consistent gains in second half of the year, gold will face the January 24 and April 11 resistance at 1366. However, the rally confirms bid for risk aversion to safer havens that gold and other precious metals offer.
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