Mexico, US Likely ‘Hours’ Away From NAFTA Agreement: Minister
Mexico, US Likely ‘Hours’ Away From NAFTA Agreement: Minister – Reuters
US and Mexican trade negotiators are “hours” away from squaring away bilateral differences on the North American Free Trade Agreement but work with Canada is likely to stretch into September, a top Mexican official said on Sunday.
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Fed policymakers See Rate Hikes, Blurring Dove-Hawk Divide
Fed policymakers See Rate Hikes, Blurring Dove-Hawk Divide – Reuters
Increasing consensus at the Federal Reserve on the need to continue raising US interest rates was on display at the start of a global central bankers meeting here, as the longstanding distinction between so-called policy hawks, centrists and doves blurs in the face of falling unemployment. Read More
US, China Escalate Trade War, Impose More Tariffs
US, China Escalate Trade War, Impose More Tariffs – Reuters
The United States and China escalated their acrimonious trade war on Thursday, implementing punitive 25 percent tariffs on $16 billion worth of each other’s goods.
S&P 500 Touches Record High, Equals Longest-Ever Bull Run
S&P 500 Touches Record High, Equals Longest-Ever Bull Run – Reuters
The benchmark S&P 500 touched a record high on Tuesday and equaled its longest-ever bull-market run, buoyed by strong earnings reports in the consumer sector and relative calm in the trade dispute between the United States and China.
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Trump Demands Fed Help on Economy, Complains About Interest Rate Rises
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Trump Demands Fed Help on Economy, Complains About Interest Rate Rises – Reuters
US President Donald Trump said on Monday he was “not thrilled” with the Federal Reserve under his own appointee, Chairman Jerome Powell, for raising interest rates and said the U.S. central bank should do more to help him to boost the economy.
Maduro Orders 96 Percent Devaluation in Hyperinflation-Stricken Venezuela
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Maduro Orders 96 Percent Devaluation in Hyperinflation-Stricken Venezuela – Reuters
Venezuela’s president Nicolas Maduro announced on Friday a single exchange rate pegged to his socialist government’s petro cryptocurrency, effectively devaluing by 96 percent in a move economists said would fan hyperinflation in the chaotic country.
State Street Acquires BestX
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State Street Acquires BestX – Profit & Loss
State Street has acquired BestX, a software company that provides independent trade technology and TCA analytics.
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Fotheringhame Wins Barclays Re-Employment Fight
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Fotheringhame Wins Barclays Re-Employment Fight – FX Week (subscription)
A UK tribunal ruled that Barclays will have to re-engage the former head of automated flow trading, who won his unfair dismissal claim in March this year. Since then, David Fotheringhame has been battling to get his job or a similar and equivalent position back with the bank.
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FXPA Files Comments with CFTC on De Minimis Threshold, NDFs, Swaps
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The Foreign Exchange Professionals Association (FXPA) has filed a comment letter with the CFTC in connection with its recent proposal to maintain the current $8 billion de minimis threshold for swap dealer registration.
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Bank of England Turns to Fintech for Atomic Settlement
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Bank of England Turns to Fintech for Atomic Settlement – Profit & Loss
The Bank of England says it is looking to explore synchronisation of payments in its RTGS (Real Time Gross Settlement) service, including cross-border payments relating to international currency transactions.
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