Analysts and investors see increased appetite for European assets.
- Euro and French Stocks Surge on Expectation Macron Beats Le Pen – Financial Times (subscription)
- French Bonds, Stocks Rally and Euro Climbs on Election Relief – Bloomberg
Markets trimmed their hedges against a Marine Le Pen victory, judging that the outcome of France’s first-round presidential poll reduced the odds of her winning office and seeking an exit from the euro.
Sterling fell sharply against the euro as investors favoured Europe’s currency over Britain’s in a wave of relief sweeping financial markets following results of the first round of France’s presidential election.
US currency had risen earlier on fresh hopes Donald Trump will be able to push through tax cuts.
The World Federation of Exchanges (WFE) has released a new report showing that trading in currency derivatives grew 10.4% year-on-year in 2016, but this figure doesn’t quite tell the whole story.
On the exchange side rather than the clearing side, one issue seems to be that, rather than offering new contracts, CME Europe was replicating FX contacts that it already offered via its US infrastructure.
The CME Europe story is a good parable for the changing nature of the FX market.
After the Bank for International Settlements (BIS) Triennial FX Survey revealed last year that the industry has shrunk in terms of notional volumes for the first time in 15 years, speakers at Forex Network London outlined the factors that could help this market get back to growth.
Speakers at Profit & Loss’ Forex Network London tried to “de-mystify” blockchain technology as they talked about its practical applications within the financial services industry.
Nigeria’s central bank will now allow investors to engage in foreign exchange trading at rates the buyers and sellers set, a move it hopes will increase the amount of dollars available in Africa’s biggest economy.
US Treasury Secretary Steven Mnuchin called on the International Monetary Fund to enhance surveillance of its members’ exchange rates and external imbalances, as large trade imbalances would hamper “free and fair” trade.
The powers put on the shelf during a 180-day review.
Finance companies want the government to let Europe’s top court remain supreme in the City post-Brexit, in exchange for continued access to the EU’s Single Market.
- Brexit Will Not Lead to a London Exodus: Frankfurt is ‘Too Small’ and Paris is a ‘Regulatory Nightmare’ – Business Insider
Rule governing the advice that brokers provide retail investors has been handled by Labor Department.
European securities regulator says that refining fee structures will ensure a level playing field for trade repositories operating under Emir and Sftr.
The bank has implemented a new e-commerce strategy, which Torrey explains by initially tracing the evolution of Northern Trust’s FX business.
Non-bank market-maker hires three to expand its direct client business and European coverage.
New research says global blockchain market could grow by up to 58% over the next six years.
TethysAlgo suite provides TradingScreen customers broker-neutral algos for equities, futures, options and FX.
Emerging assets shifted up a gear as markets cheered the French election results, pushing developing stocks to a near-three week high and sending most emerging currencies surging against the dollar and euro.
Central European stocks and currencies rose after centrist Emmanuel Macron won the first round of France’s presidential elections, taking a big step towards becoming president.
The Loonie came under selling pressure after fresh data showed an unexpectedly sharp cooling in Canada’s consumer price growth.