The world’s financial leaders may no longer explicitly reject protectionism or competitive currency devaluations, a draft communique of their meeting next week showed, promising only to keep an “open and fair international trading system”.
Sterling is on the back foot amid political uncertainty, notes of gloom on the UK economy and increased expectations the US will tighten monetary policy.
The dollar was a touch lower on Wednesday, its modest advance from the previous day bogging down as investors started to take a wait-and-see attitude ahead of Friday’s US jobs report.
From traders in the $13.9 trillion US Treasury market to those dealing currencies around the globe, signs are mounting that there’s little in the pipeline for them to get worked up about in the days ahead.
Tokyo strategists say President Donald Trump’s vow to bring manufacturing jobs back to the US is playing a role, and Japan’s dominance in the auto industry means any significant slide in the yen from here risks a storm of jawboning from the White House.
Credit Suisse ask an interesting question: What lies in store for the Swiss Franc if a President Le Pen were to emerge on May 8th?
The offshore renminbi weakened past its onshore counterpart following the release of China trade data valued in renminbi terms which showed a deficit for the first time since 2014.
A German economics minister has spoken confidently of winning euro clearing power from London after Brexit.
The South Korean won, Asia’s best performing currency this year, is shrugging off a buildup in tension on the peninsula. The calm may not last.
The question is when, not if, the central bank scraps three-year-old currency limit.
Nigeria unveiled a sweeping economic recovery plan, including measures to reduce its dependence on oil and to relax foreign exchange restrictions, in a drive to pull Africa’s largest economy out of its first recession in 25 years.
Somalia, a country where up to 98 per cent of local banknotes are fake, is about to embark on the massive task of taking back control of its currency.
Wall Street dealmaking attorney Jay Clayton will appear before the US Senate Banking Committee on March 23 for his confirmation hearing to become the next chairman of the Securities and Exchange Commission.
President Donald Trump’s decision to withdraw a pair of pending CFTC nominations isn’t likely to incapacitate the agency, thanks in part to a good working relationship between the two remaining commissioners.
The Trump administration’s initial efforts to attack financial regulations will include directing federal agencies to reverse changes that have been made through guidance rather than formal rule-making, a key aide to Vice President Mike Pence said.
- Pence Aide Cautions Overhaul of Dodd-Frank Won’t Begin Before June – Wall Street Journal (subscription)
Retail currency brokers are considering operating in the United States after a nearly seven-year absence, if President Donald Trump is able to carry through on his pledge to deregulate financial markets.
The UK’s decision to leave the European Union may act as “the straw that broke the camel’s back for the clearing business” by increasing pressure on existing challenges the industry faces.
Central banks around the world are increasing foreign-currency reserves, highlighting the fragile underpinnings of the global economic recovery despite a bullish mood in financial markets.
With pre-Brexit currency hedges rolling off, consumers also face a struggle.
February was a strong month for managed futures strategies, with all three Societe Generale CTA indices producing performance in excess of 2%.
The Depository Trust and Clearing Corporation (DTCC) has expanded its data products to cover all major asset classes.
Dalton Street Capital in Sydney has upgraded its futures, equities and FX trading through implementing FlexTrade’s EMS system.
The Turkish Central Bank will closely monitor pricing behaviour and implement further monetary tightening if needed, its governor said, but the lira weakened in apparent disappointment he did not give a clearer signal on rates.
Most Asian currencies inched higher as the dollar struggled to gain traction ahead of US jobs data due later in the week.
After hitting a high of .7632 in the wake of the RBA’s March monetary policy meeting, the Australian dollar unwound those gains in overnight trade, succumbing to a lift in US bond yields and continued weakness in commodity prices.