Asian shares edged higher on Friday, oil touched a 2016 high and the U.S. dollar weakened as investors turned more positive on riskier assets after the Federal Reserve’s cautious stance on further interest rate increases.
- S. Oil Prices Hit $40 a Barrel, Extending Recent Rally – Wall Street Journal (subscription)
- Do Not Assume Dollar Slide is Relentless – Financial Times (subscription)
At the January meeting where the Bank of Japan surprised markets by adopting a negative rate, the bank’s staff offered another option – expanding record asset purchases, but the minutes show no discussion of that.
From Japan to Norway, currencies are rising despite policies aimed at weakening them
- Strong Yen Pressures BOJ on Stimulus as Fed Outlook Weakens Dollar – CNBC
- Have Expectations of a Weaker Yuan Been Reversed? – South China Morning Post
European Central Bank President, Mario Draghi, said Thursday that if the economic outlook of the Eurozone changes, the ECB stands ready to use the appropriate tools and that he expects interest rates to remain at present or lower levels for an extended period of time.
Even investors who’ve been buying Asia’s most battered currency this year say the won’s recent gains are unlikely to last.
Switzerland’s central bank left interest rates unchanged at record lows, cut its economic outlook and forecast a deeper bout of deflation as cheaper oil and slowing global growth weigh on the economy.
Calls by banks and asset managers for a swift finalisation of Europe’s controversial trading reforms were dashed after policymakers rejected regulator proposals on commodity position limits and transparency rules in bond markets.
The new administrators of Libor are overhauling the way it is calculated, reducing its reliance on banker estimates in an attempt to restore faith in the scandal-hit rate.
If D.C. Circuit Chief Judge Merrick Garland makes it on to the U.S. Supreme Court, financial services regulators will find a jurist who’s been willing to defer to their judgment for crafting rules and taking enforcement actions, a stance perhaps best highlighted by a dissent he delivered in 2007 when the D.C. Circuit voted to overturn a controversial U.S. Securities and Exchange Commission rule.
Moscow Exchange’s (Moex) benchmarks for the currency, equity, bond and money market segments have been recognised as compliant with the International Organization of Securities Commission’s principles (Iosco).
More hedge funds closed their doors in 2015 than at any time since the financial crisis, according to new research, as turbulent markets dragged down the industry’s performance.
One of the world’s biggest exchange-traded funds that invests in Japan is delivering a double dose of pain to foreign investors.
European stock exchange operator Euronext NV (ENX.PA) is considering acquisitions to help it stay competitive after Deutsche Boerse AG (DB1Gn.DE) and London Stock Exchange Group Plc (LSE.L) agreed to merge in a $30 billion deal, according to people familiar with the matter.
China on Friday set its currency 0.52% stronger against the dollar, in the yuan’s steepest one-day fixing increase since November, reflecting the weakness in the dollar after the U.S. Federal Reserve moved to a more dovish tone.
Global macro hedge fund manager Hugh Hendry, who was once a famous China bear, says the world would be “over” if China devalued its currency by 20%.
Japan’s 10-year bond yield dropped to a record minus 0.135 percent, falling below the the negative deposit rate introduced by the Bank of Japan last month, after the central bank’s operation to buy long-term debt met the lowest investor participation on record.
The Australian dollar has extended its rally in the wake of the United States Federal Reserve’s about-face on rate rises, prompting Macquarie to predict the currency will hit US80¢ soon, putting pressure on the Reserve Bank to cut the cash rate again.
Intercontinental Exchange (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, announced today that ICE Benchmark Administration (“IBA”) has published its Roadmap for the evolution of ICE LIBOR (“LIBOR”).
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