EU leaders believe the euro needs to play a larger role in order to compete against the US and China.
The workstreams unveiled by the Global Foreign Exchange Committee contained few surprises, but one area in particular, while deemed unimportant by survey respondents, needs tweaking. After all, few saw a problem with FX traders talking to each other in chatrooms.
With more data available to FX market participants than ever before, the real value is in being able to interpret this data, says Maria Prata, managing director, global FX, at Deutsche Bank in a new video interview.
Prime Minister Boris Johnson’s Conservatives said they would complete Britain’s exit from the European Union by the end of January and hold a budget in February if they win the national election.
Chinese official media excoriated the United States and called for harsh reprisals in editorials on Thursday after the US House of Representatives passed legislation requiring a stronger response to Beijing’s treatment of its Uighur Muslim minority.
Donald Trump has got away with his many trade wars over the last eighteen months because the US economy has been on steroids, a form of macroeconomic cheating that briefly steals growth from the future but catches up with you.
- Why a Delay to the US-China Interim Trade Deal is the Best Possible Outcome – South China Morning Post
Prime minister Shinzo Abe has launched Japan’s first fiscal stimulus since 2016 with a larger-than-expected ¥13.2tn ($121bn) package to repair typhoon damage, upgrade infrastructure and invest in new technologies.
The EU’s new leadership has put itself on a collision course with Germany and other countries that want to cut hundreds of billions of euros from the bloc’s long-term budget, warning that it would imperil a host of strategic goals.
The introduction of instant FX settlement and international payments has some serious obstacles to overcome; both internal and market infrastructure and vitally, how the two intersect.
In a potential win for the banking industry, two top US regulators signalled they may be open to changing supervisory practices that may have contributed towards disruption in the overnight lending markets.
New Zealand’s central bank on Thursday announced it would go ahead with plans to increase capital requirements for banks, but offered more time for the lenders to make the changes than originally proposed.
Trade body seeks clarity on zombie lifespan and CCP response as it bows to regulatory pressure.
To the untrained eye, several of the world’s top central banks appear to be rushing towards launching their own cryptocurrencies any day now.
Bitcoin is moving firmly away from real time gross settlements and push payments and into the world of deferred net settlement and pull payments.
Sean Neville, Circle’s co-CEO, will be stepping down from his role at the end of the month.
Eight former core developers from one of Wall Street’s top investment banks, Morgan Stanley, have launched a cryptocurrency derivatives exchange with big claims.
If “digital gold” means “a safe-haven asset where investors park their money during financial market turmoil,” then bitcoin doesn’t fit the bill as well as it used to.
Thailand and Hong Kong have just announced a joint agreement to utilize digital currencies to facilitate quicker payment in bilateral trade.
Cryptocurrency exchange Gemini burnt about one-fifth of its Gemini Dollar stablecoin total supply on Dec. 3.
CME Group said in a client notification that it plans to increase market data fees by a third on April 1, 2020.
Adrian Lee & Partners has launched a new fund, the Global Macro Alpha Fund.
Fund manager M&G has halted trading in its £2.5bn property fund after fears over Brexit and a retail downturn prompted investors to rush to withdraw their money, echoing the crisis in the sector following the EU referendum.
Instinet has signalled a push into the FX industry with the launch of Newport FX, an agency model spot e-FX platform. The new platform is a web-based desktop application that can be accessed through the firm’s Newport EMS, direct FIX API, or on a stand-alone basis.
The dollar wobbled as an earlier boost from upbeat trade comments by U.S. President Donald Trump ran out of steam and investors remained on edge over Sino-US tensions.
The euro has entered a new phase, according to Deutsche Bank, rivalling Japan’s yen as the currency everyone wants to borrow – but no one wants to own.
Brazil posted a net foreign exchange outflow of $4.5 billion in the last week of November, the central bank said, a week that saw the dollar’s surge to a record high against the real prompt central bank intervention.
Conventional economics has not done well in helping society cope with the digital revolution and the retreat of democracy.