China Opens Up Finance Sector to More Foreign Investment – Agence France-Presse
China lifted some restrictions on foreign investment in the financial sector Saturday, as the world’s second largest economy fights slowing growth at home and a damaging trade war with the United States.
Philip Hammond has told the BBC he intends to resign as chancellor if Boris Johnson becomes the UK’s next PM.
- Britain is About to be Humiliated — I Prefer to Resign: Gauke – The Times
- UK Business Chief Says New Premier Must Restore Confidence – Bloomberg
- UK Minister Duncan Quits Before Johnson Becomes No-Deal Brexit PM – Reuters
Italy’s fractious coalition partners are gearing up for a showdown this week that is likely to determine if the government will collapse, triggering autumn elections, or survive to the end of the year.
Chairman Jay Powell treads cautiously in supporting US economy.
- Boston Fed’s Rosengren Says Recent Economic Developments Have Been Positive – Wall Street Journal
- Powell Seeks a Cure for the Disease of Low Inflation – Financial Times
Central banks world-wide are poised to unleash some of the most aggressive monetary stimulus since the financial crisis a decade ago.
Prime Minister Shinzo Abe’s ruling Liberal Democratic Party and allied forces fell short of a critical two-thirds majority of the 245-seat Upper House in Sunday’s election, according to final media tallies — a significant setback in their bid to revise the nation’s postwar Constitution.
- US Reiterates Commitment to Alliance After Election, but Sticky Bilateral Trade Talks Await Abe – Japan Times
- Japan PM Abe: Won’t Hesitate to Take All Steps Flexibly vs. Downside Economy Risks – Reuters
Technology has been a huge enabler for the FX industry but it has brought challenges – one such being what can only be described as a false picture of liquidity in the market at any given time.
China’s second-quarter GDP slowdown has more to do with the government’s debt crackdown than the US president’s efforts. Given China’s huge contribution to global GDP growth, any decline will adversely affect all economies.
The adage in financial markets is ‘do not fight the central bank’. But can central banks fight the US president? The Swiss National Bank may be about to find out.
In this week’s podcast the Congressional hearings on Facebook’s cryptocurrency, FX turnover and unfair dismissals are firmly in focus.
Dealers, who strategically supply liquidity to traders, are subject to both liquidity and adverse selection costs. While liquidity costs can be mitigated through inter-dealer trading, individual dealers’ private motives to acquire information compromise inter-dealer market liquidity.
The Commodity Futures Trading Commission has announced that US District Court for the Southern District of Texas entered judgment against defendant Kelvin Ramirez in a CFTC enforcement action that found that he had fraudulently solicited and misappropriated funds from clients in a forex trading scheme.
Slow, inefficient and high-handed are all epithets flung at the UK financial watchdog.
The Securities and Exchange Commission is expected to extend an exemption that allows US brokers to sell research to European fund managers under the EU’s Mifid II regime that came into force last year.
St. Louis Fed Chief James Bullard reportedly views cryptocurrencies as part of a global currency competition that is ultimately unhealthy.
In an ongoing issue of cryptocurrency safety due to its lack of regulation, St. Louis Fed President James Bullard raised concerns Friday about the rise of cryptocurrencies, uniting with other key economic and political officials who have questioned the fledgling platforms as Facebook prepares to launch its “Libra” digital token.
Benoit Coeure, a board member of the European Central Bank, said that Facebook’s Libra coin will not launch until global regulators are satisfied.
Chair of the House of Commons’ Digital, Culture, Media and Sport Committee is worried about the launch of Libra.
Technology provider Caplin has announced the addition of cryptocurrencies to its range of technology components for multi-asset trading.
Bridgewater’s flagship fund suffered one of its worst first-half performances in two decades this year after being wrong-footed by rebounding markets.
South Korea’s Hyundai Motor Co on Monday posted its steepest quarterly net profit gain in over seven years, as a weaker local currency helped lift US income, while new models boosted domestic sales.
The bond trading platform’s April IPO lifted banks in Q2 — but its long-term success raises questions about their place in fixed income markets.
When Mario Draghi speaks on Thursday, the market will be hanging on his every word.
Trading in crude oil options and futures surged last week as market participants prepared for Mexico’s annual oil hedging program, in which the country buys as much as $1 billion in contracts to protect its oil revenues.
While the trade war, political uncertainties in the US and lower interest rates have hit sentiment surrounding the US dollar, risks in Europe and the prospect of higher oil prices could trigger a flight to the US currency.
The pound edged lower on Monday, with investors holding on to their hedges against further weakness ahead of the result of the Conservative party’s leadership election on Tuesday, which will decide Britain’s next prime minister.