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In response to the growing demand for methods of online funding, Abshire Smith, the FCA broker located in London, England and CASHU has announced today a new partnership. This will allow clients (Middle Eastern in specific) to fund their Abshire-Smith trading accounts using CASHU Prepaid Cards or electronically. Abshire-Smith has a global client base and is continuously expanding funding options to facilitate and simplify the process for clients. Established in 2002 by Maktoob (now Yah…

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Markit/CIPS UK Services PMI business activity rises at the fastest pace since May 1997. This is a strong figure, which builds upon recent data points from the UK. Following the release Sterling rallied in the FX market, with cable trading back above the 1.60 handle. Key points: -The backlog of work increased pushing employment payrolls higher -“Manufacturing, services and construction all continued to see very strong rates of expansion, pointing to an on-going broad-b…

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This report details: - Which countries requested information from Facebook about their users - The number of requests received from each of those countries - The number of user/user accounts specificed in those requests - The percentage of these requests in which Facebook were required by law to disclose at least some data Country Total Requests Users / Accounts requested…

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Today’s breakdown of the Sunday papers: China RMB debate: The renminbi’s road to full internationalization http://www.euromoney.com/Article/3229831/China-RMB-debate-The-renminbis-road-to-full-internationalization.html The chief executive of Wonga has defended the payday lender by claiming it is “a powerful force for good in the financial world.” http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10206825/Wonga-is-a-force-for-good-f…

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All eyes on China and commodity markets as Premier Li Kequang announces 7% floor on growth. Premier Li Kequang was quoted as saying that economic growth could not dip below 7% as that was the required rate to ensure the Chinese economy doubles in size this decade. A 7% growth rate would however be the lowest level of growth since 1990, although some have remained sceptical of the figures produced by China. China had originally set a growth target of 7.5% for 2013 at the annual se…

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Social media is becoming an important tool for many in the financial markets, highlighted by Bloomberg integrating Twitter feeds into Bloomberg terminals.Information, news, articles are shared almost instantly with followers, traders and investors are utilising the tool as the information is the lifeblood of the markets. Stories, opinions and events drive price changes; it is not social media that impacts price action, but the facts and rumours that are shared. Financial News (www.eFin…

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IndexTrader Magazine, includes some comments that Joe Bond (VP of Trading) made regarding the recent move in Sterling. A link to the full PDF edition can be found here: http://www.index-trader.co.uk/wp-content/uploads/backissues/IndexTraderMarch2013.pdf This link is hosted on an external website (Index-Trader Magazine) and Abshire-Smith cannot be held responsible for its contents.…

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AFTER trading individual equities, retail traders are usually inclined to dabble in trading their indices. So what is an equity index, how are they priced and what are they actually trading? An equity index is a benchmark value of a basket of stocks. Each index will clearly define what its constituents are and how it is calculated. The most popular equity indices receive considerable coverage within the media, especially when they can easily summarise a country’s economy,…

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