Australian Business News

USGFX Anticipates A Rise In Forex Trading As Chinese Stock Market Volatility Continues

The continued Volatility in the Chinese stock market has triggered a rise in interest from investors who are looking to invest in other markets such as the foreign exchange market. 


The Shanghai Composite Index has been volatile and at one stage dropped more than 30% from its June 12 peak, representing a loss of more than $3.25 trillion to the Chinese stock market.

USG, an Australian foreign exchange brokerage based in Sydney, said that the stock market decline in China has created much anxiety and uncertainty around the world in recent months and many investors are looking to invest more in other markets.

USGFX Chief Executive Officer, Shay Zakhaim, in a statement today said “unlike the stock market, where investors can only profit when the price of their stock increases, with the forex market, investors can profit whether currencies appreciate or depreciate. One of the fundamental differences between the stock market and the forex market is that with the forex market, traders can either long or short their positions and stand to profit from both appreciating and deprecating currencies”

There are also other key differences between the two markets that make the foreign exchange market look attractive to investors and traders.

No central exchange – The foreign exchange market has no central exchange and is commonly referred to as Over the Counter exchange.  Traders can enter and exit trades from anywhere in the world on their computer or mobile device.  All that is required is an internet connection and a trading platform.

Leverage – The foreign exchange markets offer leverage at a significantly higher level than the stock markets.  Some foreign exchange brokers can offer leverage of up to 1:500.  However, this can be a double-edged sword because whilst traders stand to make significant profits if the trade goes their way, significant losses can also occur if the trade does not go in the direction intended.

To learn more about how to trade the foreign exchange market successfully, USGFX offer a coaching program to provide a structured understanding of forex trading.

USGFX is a regulated Australian Forex Broker and holds an Australian Financial Services License. With the company head-quartered in Sydney, clients of USG are able to access the markets to trade major and exotic FX Currency Pairs, CFDs, indices and commodities.

For more information on USGFX and the Foreign Exchange services offered please visit:

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Justin Pooni
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+61 2 9251 1395

RBA Keeps Cash Rate Steady

The Reserve Bank of Australia has announced the result of its monthly board meeting amid a climate of rising house prices and sluggish growth.

Today’s News

As expected, the Reserve Bank left the official cash rate at a record low of 2.0 per cent for the third consecutive month.

All 33 economists and commentators surveyed by comparison website had forecast that rates would remain on hold.

It is possible the cash rate will fall further in 2015, but the feeling was that today would have been too soon, given that a 0.25 per cent cut was made in February and another 0.25 per cent cut in May.

HSBC chief economist Paul Bloxham told that the impact of those two rate cuts still needed to be assessed by the Reserve Bank.

Commonwealth Bank chief economist Michael Blythe said the board was in “wait-and-see mode” while it assessed incoming data, such as inflation statistics due in late July.

Board members are facing conflicting urges: cut rates to stimulate the sluggish economy, or lift rates to cool the Sydney and Melbourne housing markets.

According to the survey, 12 of the 33 respondents expect another rate cut this year, while two said rates would rise in 2015.

The survey also found that 18 believe the Reserve Bank will start lifting rates in 2016


News Corp CEO Julian Clarke to retire

News Corp Australia CEO Julian Clarke will retire at the end of the year, replaced by COO Peter Tonagh.


News Corp Australia chief executive Julian Clarke will step down at the end of the year, after just two years in the role.

Mr Clarke came out of retirement for the job following the abrupt departure of then-chief executive Kim Williams in August 2013.

News Corp announced in a tweet that the company’s chief operating officer Peter Tonagh had been appointed to replace Mr Clarke.

Meanwhile, APN News and Media Chief executive Michael Miller is joining News Corp Australia as executive chairman.

He will step down from APN on September 1 and the media group has appointed the head of its radio operations, Ciaran Davis, as his replacement.

News Corp’s global chief executive Robert Thomson said the changes were part of the company’s plans to expand its presence in Asia.

‘Our clear plan is to use Australia as a base for a significant expansion of our presence in Asia, while ensuring that our traditional businesses in Australia are developed to their full potential,’ he said in a statement.

‘Whether in broadcasting or the powerful platform that is print or in digital classifieds, we have a team that will vigorously pursue growth and strive to inculcate the sense of social purpose that has always been the cornerstone of the News Corp culture.’

He also paid tribute to Mr Clarke.

‘We must all recognise the genuinely extraordinary work of Julian Clarke, who has helped to fortify the foundations for our future, and done so with dignity, creativity and integrity,’ he said.

‘Julian’s contribution to the company and to Australia will echo for many, many years to come.’

The moves come as News Corp announced it would cut jobs and close bureaus at its subsidiary Dow Jones, which owns the Wall Street Journal.

News Corp reported a seven per cent slide in earnings in its most recent quarterly results due chiefly to weakness in its core news and information division, where earnings slumped 23 per cent.

It also comes amid a major shakeup in Rupert Murdoch’s media empire.

Mr Murdoch, 84, has installed sons Lachlan and James at the top of 21st Century Fox, which was split from News Corp in 2013.

James has been appointed chief executive of Fox, while Lachlan has been appointed co-executive chairman alongside his father.

Lachlan is already working with his father as co-executive chairman of News Corp.

APN CEO Michael Miller resigns

APN News and Media CEO Michael Miller has resigned and will rejoin News Corp Australia.


Michael Miller has resigned as CEO of APN News and Media and will rejoin News Corp Australia as Executive Chairman.

He will be replaced as CEO by the head of APN’s radio operations Ciaran Davis from September 1.

It comes as News Corp CEO Julian Clarke announced his retirement at the end of the year.

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