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1. Regulation and Oversight

The performance of dollar during Thursday trades was very mixed: it gained versus the yen, but at the end of the day came out with little gaining against the euro, because the stocks went up in the morning trades and then stalled during trading in the afternoon.

Risk-sensitive currencies were more popular on Thursday, therefore, the pound of sterling and the Canadian dollar both gained against the American dollar. Due to May Day holiday in many European countries, on Thursday the market was expecting weak trades on Friday, therefore having comparatively directionless trading session.

The dominating events, influencing the market situation today are the American gross domestic product (GDP) and the meeting of FOMC. It is considered that there is very little that the Federal Reserve of the US can do, besides loosening the monetary policy of the institution for a certain period, putting the interest rates at level of 0-0.25 percent and expanding the debt of the agency.

Royal Bank of Scotland Group PLC finished arranging the senior management team for its US branch. The last person hired was the 18-year veteran from the Bank of America Corp. who will be responsible for the trades at foreign exchange and local markets in the North and South Americas.

India’s forex trades on Wednesday showed low gold futures at the Multi Commodity Exchange of India. This happened even despite the fact that the foreign markets improved after the decrease that lasted for almost one year.

Due to experts there could be even more decreases that would cause the metal almost at the point of 11,000 rupees per 10 grams. According to the analyst at Karvy Comtrade Ltd gold and silver both are going down.

According to the announcements of the Foreign exchange specialists from the Travelex they are going to increase their retail business in China at least in two times next year. The company was the first one that get non-bank foreign exchange license last month from the Chinese Premier Wen Jiabao.

Travelex is the biggest foreign exchange provider that possesses its foreign-exchange offices in six Chinese airports.

The head of South Korea’s financial regulatory agency refuted the statement that the local markets may experience crisis due to capital outflow from the country this Monday. According to Jun Kwang-woo the chairman of the Financial Services Commission the country is quite ready to experience any increase in USD demand.