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BP Is Surprisingly Suspended from New US Government Work

BP has caught the headlines of the majority of the financial press, after being temporarily being banned from new government work in the United States. This ban came as a surprise to the markets, following the $4.5bn fine for the disaster caused by the 2010 oil disaster.  The expected time frame for the suspension is likely to be no longer than 18 months, though it does send out a message to businesses that their actions will be met with government interventions.

In the early part of the US session on Wednesday Gold fell by $20 in a matter of minutes, with rumours of a large sell order (1,000 Lots) in Gold Futures being the cause. Initial reports of a fat finger, were rejected as the market settled and moved lower, rather than an immediate rebound. This is a good example of the importance of risk management when trading, and the use of stop losses to reduce potential market exposure.


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