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Has Someone Found a Clever Edge in Trading Major Releases? – Profit & Loss (subscription)

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Has Someone Found a Clever Edge in Trading Major Releases? – Profit & Loss (subscription)
On Tuesday – for the third time in a row – there was suspicious price action ahead of the Reserve Bank of Australia’s monetary policy announcement. I am confident there is no leak from the RBA; indeed several sources familiar with the matter say they believe a similar move happened ahead of last Friday’s employment report, which would suggest that someone is ahead of the game somehow. It would not be the first time that a firm with what it believes is an edge in FX markets starts in local markets before angling for bigger fish.
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Fast FX Moves Raise Liquidity Worries – Financial Times

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Fast FX Moves Raise Liquidity Worries – Financial Times (subscription)
In recent months a series of dramatic and unforeseen intraday fluctuations – even in popular and widely traded currencies – has led FX investors, bank traders and analysts to question the mechanics of the market. At its heart is a question of whether the vast over-the-counter market is in a cyclical decline or just the latest to be affected by new technology and tough regulation enforcing change. The broader concern is that declining liquidity will fuel more sudden FX moves and destabilise the market.
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Codes of Best Market Practice and Shared Global Principles

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Codes of Best Market Practice and Shared Global Principles (press release)
The eight foreign exchange committees in the major financial centres have released a revised “Global Preamble: Codes of Best Market Practice and Shared Global Principles” document, which was approved and endorsed by the eight committees at the annual global foreign exchange committees meeting, held in Tokyo on 23 March, and which updates the original version published in 2013.

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