Monthly Archives: December 2015

Top Headlines

ECB Attempts to Discourage Trading Against Euro FX Reference Rates – Profit & Loss The European Central Bank plans to delay the daily publication of its euro FX reference rates in order to discourage firms from using the rate as a benchmark to trade against.

• ECB Shifts Daily FX Rates in Anti-Rigging Move – Reuters

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Macro Hedge Funds Caught Off Guard by ECB’s Move – Wall Street Journal (subscription) Many anticipated greater stimulus, and had placed wagers on a weaker euro, stronger dollar, rise in European stocks. Read More

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Draghi’s Weeks of Rhetoric Culminate in ECB Stumble on Stimulus – Bloomberg The European Central Bank’s 360 billion-euro ($393 billion) stimulus boost and rate cut on Thursday, which was in line with the president’s wishes, sent the euro soaring and stocks and bonds tumbling as disappointed investors matched reality to their expectations.

• ECB Triggers Largest Intraday EUR Move in Six Years – Profit & Loss

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Yellen Signals Fed on Track to Raise Rates in December – Wall Street Journal (subscription) Fed chief says gains in labor market bolster her confidence that inflation will return to 2%.

• Fed’s Yellen says ‘Looking Forward’ to Day of First Rate Rise in Decade – Reuters

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What Happens to the Yuan Now? – Wall Street Journal (subscription) China’s central bank says it wants the yuan to be stable, but slowing growth could pressure officials to weaken the currency. Read More

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IMF Approves Reserve-Currency Status for China’s Yuan – Bloomberg The IMF will add the yuan to its basket of reserve currencies, an international stamp of approval of the strides China has made integrating into a global economic system dominated for decades by the U.S., Europe and Japan.

• IMF Adds Renminbi to SDR Basket – Profit & Loss

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