The European Central Bank has announced its biggest package of rate cuts and economic stimulus in three years as President Mario Draghi warned governments that they needed to act quickly to revive flagging eurozone growth.
- Euro Gains After ECB Stimulus Disappoints – Reuters
- Draghi’s Divided ECB Leaves Markets Hoping for Government Action – Bloomberg
- Why the ECB’s ‘QE Infinity’ May Have Stolen the Future – Financial Times
- Denmark’s Central Bank Cuts Key Interest Rate to Historic Low – Reuters
Boris Johnson was handed a lifeline by the Democratic Unionist Party last night when it agreed to shift its red lines in a move that could help to unlock a Brexit deal.
- Johnson Urged by Cabinet Allies to Ask for Brexit Extension Rather than Disobey the Law – Daily Telegraph
- Johnson Faces New Legal Challenge, Could See Judges Sign Letter Asking for Brexit Extension –Daily Telegraph
- EU’s Barnier Says He is Not Optimistic on Brexit Deal by Mid-October – Reuters
Hong Kong Exchanges and Clearing is prepared to sweeten the terms of its £32bn offer for the London Stock Exchange Group, said people familiar with the company, after it received a cool reception from shareholders and the UK bourse.
- LSE Board Poised to Decide Fate of Hong Kong Exchange’s $39 Billion Offer – Reuters
- Is Hong Kong’s Takeover Bid for London Exchange a Move Too Bold? – South China Morning Post
- Former CFTC Chair: HKEX-LSE Deal Would be a ‘Great Concern’ to Washington – Financial News
President Donald Trump said he preferred a comprehensive trade deal with China but did not rule out the possibility of an interim pact, even as he said an “easy” agreement would not be possible.
- Trump Team Rushes to Find Escape Hatch for China Tariffs – Politico
- China Seeks to Narrow Trade Talks with US in Bid to Break Deadlock – Wall Street Journal
US Treasury Secretary Steven Mnuchin said the United States will issue 50-year bonds if there is “proper demand,” a move aimed at “derisking” the government’s $22 trillion of debt and locking in low interest rates.
Europe’s largest economy is not facing a bigger downturn or a pronounced recession after contracting slightly in the second quarter but there are no signs of a turnaround yet either, the German Economy Ministry said on Friday.
In what may be a significant decision for the foreign exchange industry, former HSBC head of cash FX trading Mark Johnson has lost his appeal to have his conviction and sentence overturned in the US.
Regulator’s move comes as investors begin to conclude that the odds of a no-deal exit on October 31 are now ‘close to zero’.
Grumbles over the price of market data from banks, traders and other customers are common.
The European Union’s banking, insurance, pensions and securities sectors continue to face a range of risks, according to a report published today by the Joint Committee of the European Supervisory Authorities.
The Chicago Mercantile Exchange wants to let bitcoin futures traders hold a greater number of open positions at one time.
Etana Custody, a custody solution for fiat and digital assets that provided real-time electronic trade settlement in the digital space, is now offering users access to multiple exchanges and non-exchange liquidity providers from a single account.
France’s Finance Minister Bruno Le Maire said the European Union should introduce a common set of rules to govern virtual currencies, which are at the moment mostly regulated at national level.
China’s proposed digital currency could trigger global use of the yuan, according to the CEO of American cryptocurrency financial services firm Circle.
Refinitiv says that the adoption of execution algorithms by buy side traders on its FXall platform increased 41% year-over-year in the second quarter of 2019, following continued investment in the platform’s algo trading capabilities.
When asset prices are tumbling and some big investors are suffering billions of dollars of losses, just getting away without losing your shirt can be classed as a win.
Currency management firm Adrian Lee & Partners has hired Michael Ridewood as a senior portfolio manager.
AcadiaSoft, a provider of risk and collateral management services for non-cleared derivatives, has appointed John Shay as its new board chairman.
Recent positive developments in some of the major issues weighing on markets, including the US-China trade war and Hong Kong’s protests, offer a welcome respite, but economic fundamentals remain weak and policymakers’ toolboxes are limited.
Australia’s central bank would like to see the Aussie dollar lower, and governor Phil Lowe appears increasingly comfortable with the idea that the RBA may have to launch its own QE initiative.
Sterling could soar as high as $1.50 if lawmakers agree a Brexit deal before the UK leaves the European Union, according to Morgan Stanley’s global head of FX strategy.
Sixteen years ago Ben Bernanke — then just a US Federal Reserve governor — waded into the slippery notion of central bank independence.