FXPA to Host Discussion Forum
The Foreign Exchange Professionals Association (FXPA) will be hosting a networking event and discussion forum on trading venue-related issues on Thursday, September 5th, at 5:00 pm in New York. The panel discussion and interactive forum will focus on such issues as the handling by trading venues of off-market transactions, as well as the disclosure of trade volume and matching engine information. To request an invitation, please email jros@fxpa.org as seating is limited.
Read MoreYuan Slumps to 11-Year Low as US Trade War Escalates
Yuan Slumps to 11-Year Low as US Trade War Escalates – Reuters
China’s yuan slumped to a fresh 11-year low against the dollar on Monday and stocks fell as the Sino-US trade war sharply escalated, threatening to inflict more damage on the world’s largest economies and weigh further on global growth.
- China Says Wants ‘Calm’ Resolution to US Trade War – Reuters
- Trump Regrets Not Raising Tariffs on China Higher, White House Says – Reuters
- China to Raise Import Tariffs on US Scrap Copper, Aluminum From December 15 – Reuters
Mexico’s Central Bank Cuts Rates for First Time in 5 Years as Economy Sputters
Mexico’s Central Bank Cuts Rates for First Time in 5 Years as Economy Sputters – Reuters
Mexico’s central bank cut its key lending rate for the first time since June 2014, citing slowing inflation and increasing slack in the economy, and fueling expectations that further monetary policy easing could be on the way.
Read MoreGlobal Stocks Routed, Oil Sinks as Bond Markets Flash Recession Warning
Global Stocks Routed, Oil Sinks as Bond Markets Flash Recession Warning – Reuters
Global stocks crumbled and oil prices extended a punishing sell-off on Thursday as an inverted US bond yield curve intensified fears about a world recession.
- As Global Order Crumbles, Risks of Recession Grow – Wall Street Journal
- US Curve Inverts for First Time in 12 Years; 30-Year Yield Tumbles – Reuters
Hong Kong Airport Reopens After Overnight Clashes, Mass Protests
Hong Kong Airport Reopens After Overnight Clashes, Mass Protests –Reuters
Hong Kong’s airport resumed operations on Wednesday, rescheduling hundreds of flights that had been disrupted over the past two days as protesters clashed with riot police in a deepening crisis in the Chinese-controlled city.
- Hong Kong Airport Obtains Injunction to Stop Protesters Obstructing Operations – Straits Times
- Yuan Drop Could Roil Already Strained Hong Kong-Protest Hit Economy –South China Morning Post
Hong Kong’s Next Crisis May Be Economic as Protest Fallout Grows
Hong Kong’s Next Crisis May Be Economic as Protest Fallout Grows –Bloomberg
Hong Kong’s deepening political crisis now risks becoming an economic one.
- Hong Kong Airport Grinds to Halt; China Likens Protests to Terrorism – Reuters
- Hong Kong’s Economic Troubles are Just Beginning – Asia Nikkei Review
China’s Former Central Bankers Warn of Lasting Currency War with US
China’s Former Central Bankers Warn of Lasting Currency War with US – Straits Times
Former China central bankers have warned of currency-war risks with the US after an abrupt escalation of trade tensions between the world’s two biggest economies this week.
- IMF Says China Should Keep Yuan Flexible as Trade War Widens – Bloomberg
- If China is a ‘Currency Manipulator’, Then Every Country Is – Forbes
US Holds Off on Huawei Licenses as China Halts Crop-Buying
US Holds Off on Huawei Licenses as China Halts Crop-Buying – Bloomberg
The White House is holding off on a decision about licenses for US companies to restart business with Huawei Technologies Co. after Beijing said it was halting purchases of US farming goods, according to people familiar with the matter.
Read MoreIn Allowing Yuan to Devalue, China Policy Makers Concede Economy Needs a Boost
In Allowing Yuan to Devalue, China Policy Makers Concede Economy Needs a Boost – Wall Street Journal
China’s abrupt devaluation of the yuan this week is an acknowledgment from Beijing that its domestic economy needs help, a vulnerability that Chinese policy makers have played down during the escalating trade conflict with the US.
- China’s Yuan Could Weaken Past 7.5 if Trump Hikes Tariffs Further – CNBC
- China’s Forex Reserves Fall to $3.104 Trillion Amid Rising Trade Tensions – Reuters
- The Grey Area Between Currency Devaluation and Currency Manipulation – Yahoo Finance
Yuan Weakens After PBOC Sets Fixing Closer to 7 a Dollar
Yuan Weakens After PBOC Sets Fixing Closer to 7 a Dollar – Bloomberg
China’s central bank set its daily currency reference rate marginally stronger than 7 a dollar, leaving analysts anticipating Thursday’s fixing as a key policy signal.
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