Top Headlines

Currency Trading Volumes Climbed in April in Japan, Australia – Bloomberg

Currency trading increased in Japan and Australia in April from six months earlier, led by a surge in forwards, according to the foreign exchange committees in the two nations.

G20 growth vow keeps global shares near nine-month high – Reuters

World shares held near nine-month highs on Monday after G20 finance chiefs vowed over the weekend to use “all policy tools” to lift global growth.

China Working Hard to Stabilize Yuan Against Basket, PBOC Says – Bloomberg

China expanded efforts to steady the currency markets, with the central bank adding verbal support to the exchange rate after a week that saw it slip past a key level against the dollar.

Fitch Affirms Sovereign Rating of Russian in National Currency at “BBB-” After Review – Interfax

Fitch Ratings on Friday affirmed the long-term issuer default rating of Russia in national currency, keeping it at the last level of investment rating, “BBB-“.

Is Currency Fluctuation an Opportunity? – Business Standard

The Brexit fallout has already led to one burst of volatility in currency markets. There will be more as the situation evolves. India is significantly, but not frighteningly, exposed to such volatility

Turkey Open For Business With Purges Nearly Over, PM Says – Bloomberg

Aiming to limit the economic fallout from this month’s failed coup, Turkish Prime Minister Binali Yildirim ruled out early elections and said the government plans a multibillion-dollar infrastructure fund to keep growth on track.

Ansbach blast: Syrian asylum seeker kills himself and injures 12 in Germany – The Guardian

A Syrian man has killed himself and injured 12 others after setting off an explosive device outside a music festival in the German town of Ansbach.

Regulatory News 

Europe Faces Dilemma Over Fiscal and Banking Rules – WSJ (subscription)

The European Union’s central crisis is one of legitimacy. The EU is primarily a system of legally binding rules agreed among governments and enforced by a supranational court. But what happens when a sizable number of citizens decide EU rules are harmful to their interests—or worse, prevent national governments from fulfilling their duty to protect their citizens?

Eyes on Fed, BOJ, Europe’s bank stress test – Reuters

Central banks from Washington to Tokyo take center stage next week, although policymakers are likely to remain cautious as they wait for the dust to settle from Britain’s shock vote to leave the EU.

 Paschi Drops Amid Capital Concerns Before Stress Test Results – Bloomberg

Banca Monte dei Paschi di Siena SpA dropped the most in three weeks in Milan amid concerns it may need additional capital and talks between Italy and the European Commission for a government backstop haven’t produced an agreement yet.

Company News

Moex Unveils Exec Board, Exchange Council New Appointments – Profit & Loss

Moscow Exchange has announced a number of new appointments at its executive board and exchange council.

Aberdeen Says Third Quarter Assets Up On Market, Currency Gains – Reuters

British fund manager Aberdeen Asset Management (ADN.L) posted a third quarter rise in assets under management (AuM) on Monday, boosted by gains in the value of its investments and positive currency moves after Britain’s vote to leave the European Union.

Verizon to announce $5 billion deal to buy Yahoo on Monday: source – Reuters

Verizon Communications Inc (VZ.N) will announce an agreement on Monday to buy Yahoo Inc (YHOO.O) for about $5 billion, according to a person familiar with the matter.

Market Savvy

Gold Drops on Stronger Dollar Before Fed; Europe Stocks Advance – Bloomberg

The dollar’s strength weighed on precious metals as investors looked toward central bank meetings this week in the U.S. and Japan. European stocks rose, while oil held losses after sliding to the lowest close since May.

Emerging Currencies Weaken Before Fed, BOJ Meetings This Week – Bloomberg

Emerging-market currencies dropped for a second day against the dollar on speculation Federal Reserve policy makers meeting this week will signal they are still on course to raise interest rates.

Aussie Bears Buoyed as Rate-Cut Bets Halt Rally – Bloomberg

The stars are finally aligning for Aussie bears.

CEE Markets-Forint firms, flirts with key level before rate meeting – Reuters

The Hungarian forint firmed 0.2 percent early on Monday, inching towards its 200-day moving average before Tuesday’s central bank rate meeting.