Breaking News
Split US Congress: shorts to surge, traders to close dollar and equity positions
Mike Read, founder of social trading platform Pelican, comments on traders’ reactions to US midterm election results below:
“Dollar bulls were looking for a sweeping Republican win and they didn’t get it. Congress is now split, with today’s trading looking increasingly bearish. We expect shorts to surge, with many of our traders closing their dollar and equity positions as fast as possible.
“With politics now even more polarised, calls for hikes in the fed rate will likely come thick and fast, which could actually benefit dollar bulls if they weather today’s storm.
“Whatever the outcome from today’s results, one thing is for sure – the cloud of uncertainty from the last few weeks has lifted and we’re back to seeing trading as usual.
“Underinvested traders will return to the markets and risk assets will now be one to watch, as the VIX’s term structure has remained inverted for the last three weeks- the longest streak since Sept 2011.”
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CLS Appoints Six New Board Directors
CLS, a financial market infrastructure group delivering settlement, processing and data solutions, today announces the appointment of six new members to its Board of Directors at the CLS Annual General Meeting held on 9 June 2026.
Mobey Forum Calls for a Collaborative Approach to Fraud Prevention in Rethinking Fraud in a Connected World
Mobey Forum’s Fraud Expert Group has published a new report, Rethinking Fraud in a Connected World: Trust, Collaboration, and Resilience in the Digital Ecosystem, exploring how fraud is evolving beyond traditional banking threats and why stronger collaboration across industries is becoming essential.
SumUp Launches in Canada
SumUp, the global financial technology company, today announced its official launch in Canada. The milestone makes Canada SumUp's 38th market and its latest step in building out its presence across the Americas, as the company continues its mission to make commerce simpler and more accessible for all businesses worldwide.
European Fintech Association Elects New Board of Directors
The European FinTech Association (EFA) today announced the election of its new Board of Directors, bringing together senior leaders from across Europe's fintech ecosystem to guide the Association's work over the coming term.
G+D: Navigating the Future of Fintech Agility and Innovation
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Connect IFA Strengthens Leadership Team to Drive Growth and Enhance Adviser Support
Connect IFA Ltd is pleased to announce key leadership appointments designed to strengthen its commitment to growth and enhance the support it provides to advisers and network members.
FreeAgent Launches New AI Tool for Landlords to Capture Rental Statements
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