• Why Euro Bulls Are Still Optimistic – Bloomberg

If it’s America First, Then Europe Will Respond in Kind, Altmaier says – Reuters
The United States must reckon with Europe responding in kind if it declares “America First” and places its own economic interests before those of others, Germany’s Economy Minister Peter Altmaier said.

• China Offered Trump $200 Billion Cut in U.S. Trade Deficit – Bloomberg

• China Offers Trade Olive Branch by Scrapping Tariffs on US Sorghum – Financial Times (subscription)

Currency-Hedged Funds Prove Poor Value for Investors – Financial Times (subscription)
Currency movements can have disastrous impacts on investment returns, but many funds promising to hedge these risks have actually lost investors’ money over the long term when compared to standard funds, despite periods of sterling strength.

Banxico Stays Put Amid Currency Malaise – Latin Finance (subscription)
Mexico’s central bank, Banxico, has kept its benchmark interest rate on hold at 7.5% at a time where the country’s peso has dropped some 8% in the last month against the dollar.

Emerging Market Jitters Have This $54 Billion Fund in Japan Selling – Bloomberg
Cash is King in times of stress.

Lira Pinned Near Lows After Temporary Boost – Financial Times (subscription)
This week’s mini-boost to the Turkish lira has largely faded away.

Regulatory News

‘Meaningful Disclosure’ A Must In Wake Of Data Beaches – Law360(subscription)
Lots of advanced preparation and prompt, “meaningful disclosure” are the best methods for companies hoping to avoid costly fines and lessen the damage of inevitable shareholder suits in the event of a data breach, legal experts advise.

France Registers Drop in Complaints About Forex and Binaries – Finance Feeds
Last year, France’s AMF called to order 30 trading platforms – the majority of these are registered in Cyprus.

Company News

Market Head Leaves Saxo – Profit & Loss
Claus Nielsen, heads of markets at Saxo Bank, is leaving the firm after almost 15 years.

Bertelsmann Profit Hit by Special Items, Forex – Marketwatch
Bertelsmann SE & Co. KGaA said Thursday that after tax profit for the first quarter fell on negative special items and currency effects.

Daly Joins BTIG – Profit & Loss
Brendan Daly has joined BTIG as a director within the foreign exchange trading division

Moscow Exchange Reveals Q1 Results – Mondovisione
Moscow Exchange says higher trading volumes in the Bond Market and Equities Market supported by continued solid performance of the Money Market drove strong growth in fee and commission income.

FX Post-Trade DLT Network Readies Launch – MarketWatch
Adrian Patten, co-founder and chairman of Cobalt, said the testing period for the foreign exchange post-trade processing network which uses distributed ledger technology is reaching its conclusion for banks that will be going live at launch this year.

Crypto News

SmartTrade Adds Cryptocurrencies to its FX Platform – Profit & Loss
SmartTrade Technologies revealed that it has added cryptocurrencies to its FX trading platform, LiquidityFX.

It’s Not Bitcoin Trading — But J.P. Morgan Is Heading Deeper Into Crypto – Fortune
As Wall Street giants circle Bitcoin and the Blockchain, the largest of the bunch by assets, J.P. Morgan, is sinking its toes in a little deeper.

Fed Governor Says ‘No Compelling Need’ for US Central Bank Crypto – CoinDesk
Lael Brainard, member of the board of governors at the U.S. Federal Reserve, has said she does not see a “compelling” need for a Fed-issued digital currency.

Buyer Beware: Hundreds of Bitcoin Wannabes Show Hallmarks of Fraud – Wall Street Journal (subscription)
A Wall Street Journal analysis of 1,450 cryptocurrency offerings reveals rampant plagiarism, identity theft and promises of improbable returns.

Market Savvy

Emerging-Market Currencies Fall Against Dollar – Wall Street Journal (subscription)
A range of emerging-market currencies fell against the dollar, pressured by worries that bond yields in the U.S. will continue rising.

• Emerging FX Poised for Biggest Weekly Loss in 18 Months – Reuters

Why Sanctions Are Bullish For Gold And Digital Currencies – Seeking Alpha
When we think of money, we tend to become nationalistic. If we live in the United States, or many other countries around the world, the dollar is legal tender and a means of exchange for goods and services in our everyday lives.

Oil Steady on OPEC Cuts, Strong Demand and Looming Iran Sanctions – Reuters
Oil prices held firm on Friday on strong demand, ongoing supply cuts led by producer cartel OPEC and looming U.S. sanctions against major crude exporter Iran.

Loan Funds Attract New Money as Interest Rates Rise – Financial Times(subscription)
Investors put more money into bank loan funds in the past week than at any time in more than a year, as rising interest rates increased the attraction of floating-rate assets over traditional bonds.