img CDN
img AUS
img NZ
img US
Call us now: 1.844.363.7297
imgExpress Login

ECB Leaves Main Refinancing Rates Unchanged | US CPI Data in Focus

Published April 10, 2019



• The European Central Bank announced its latest policy decision this morning, with the main refinancing operations and the interest rates on marginal lending remaining unchanged at 0.00% and 0.20%. Optimism has faded that the central bank will announce imminent measures to help Europe’s lenders navigate negative interest rates.
• The US Consumer Price Index is due this morning with economists expecting the pace of prices to have quickened in March to 0.4% from a month earlier, with core inflation at 0.2%. The annual rate is forecast to increase to 1.8%.
• The EU may offer the UK a Brexit delay of up to 12 months at today’s summit in Brussels, with leaders set to debate whether to extend the arrangement to the end of this year or March 2020. GBPUSD is recovering earlier losses to trade near 1.3060 as market participants welcome the chances of a long extension to the Brexit deadline.
• The Federal Reserve releases the minutes of its March 19-20 meeting this afternoon, which will provide more detail about officials’ discussions regarding interest rate trajectory. Fed officials have also announced plans after the meeting to slow the runoff of their $4 trillion asset portfolio in May.





To the Clients of EncoreFX:

 

It is with much regret that we inform you that EncoreFX’s (the “Company”) offices are suspending trading effective immediately.

This suspension will give the Company time to consider its restructuring alternatives. The restructuring has become necessary as a number of customers to whom the Company granted credit have defaulted on their obligations to the Company due mainly, we believe, to the rapid changes in the FX market caused by the coronavirus pandemic.

 

In order to provide stakeholders with transparency, the Company has filed an assignment in bankruptcy pursuant to Section 49(1) of the Bankruptcy and Insolvency Act (Canada) (the “BIA”) with respect to its Canadian operations and has assigned its Australian and New Zealand subsidiaries in Voluntary Administration in Australia and New Zealand. 

 

Ernst & Young has been appointed as the licensed insolvency trustee (the “Trustee”) in Canada and as the Administrator in Australia. 

 

Once the Trustee, working with the Company, has determined the best options for the Company and its stakeholders it will share that information with you. Information pertaining to the bankruptcy of EncoreFX will be available, in due course, on the Trustee’s website at: www.ey.com/ca/encorefx.