Markets are in an upbeat mood for the first session of 2017, looking to revive the post-US election rally that took Wall Street and London stocks to record levels and forced government bond yields to multi-month peaks toward the end of last year.
China’s yuan is likely to see more volatility against the US dollar this year after its foreign exchange market operator changed the way it calculates a key yuan index by nearly doubling the number of foreign currencies in its basket.
- Analysts Can’t Seem to Agree on Whether China’s New Yuan Basket Will Be More or Less Volatile – Bloomberg
China’s new rules on overseas currency transfers are not capital controls, the official Xinhua news agency reported, even as some banks told customers that purchases of foreign currency for property, securities and life insurance were not allowed.
- PBOC’s Ma Says New Cash Transaction Rules Are Not Capital Controls – Bloomberg
- Chinese Investors Shrug Off Forex Scrutiny – Financial Times (subscription)
Rep. Bill Huizenga (R-MI) will speak at SEFCON VII, the premier swaps industry conference, which will take place just two days before Inauguration Day, on January 18 at The Roosevelt in NYC.
The first three platforms providers to report December average daily volume data have experienced the expected slowdown in December from November, but have lifted year-on-year.
Sale could help alleviate competition concerns about LSE’s planned merger with Deutsche Börse.
The dollar recovered from a two-week low against a basket of six major currencies, though trade was thin due to many markets being closed for the New Year holiday.
- Dollar Falls After Late-Year Rally – Wall Street Journal (subscription)
- Speculators Again Raise Net Long Dollar Bets – Reuters
On Wall Street, the rising dollar has been one of the most visible signals of growing optimism in the US economy; for many other countries, it spells trouble.
The Turkish lira hit yet another record low, falling to 3.60 per dollar on markets’ first full day of trading since Sunday morning’s terror attack in Istanbul.
The world’s most high-profile digital currency, bitcoin, hit a three-year high this week, rising above US$1,000 in a strong surge that saw it stand out as the best-performing currency of 2016.
Inclusion of government debt in global indices will bring in stability.
Questions loom over scope for further gains in the dollar and pound.
Ascent of Trump caps a year marked by big fluctuations for asset prices.
With just 12 months left until the introduction of a new rulebook that will transform Europe’s trading landscape, many of the regulations remain clouded in uncertainty, according to market participants.
Fed says increase due to more types of clearing-eligible products and better prices for cleared transactions.
The European Parliament and the Council of the European Union have proposed amending a directive on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing.
Desperate to halt the severe depreciation of its national currency, Myanmar’s democratically elected government may revive drastic measures that were employed by the military junta.
President Hassan Rouhani sought to reassure Iranians that the government would work to protect market stability after the country’s currency fell to a record low last week.
FastMatch is making a number of changes to its fee schedule, effective February 1, 2017.
Jain stepped down from the role of co-CEO of Deutsche Bank in mid-2015 as concerns grew over the bank’s financial health and a series of regulatory missteps.
Indonesia is better placed to tackle any currency volatility and capital outflows triggered by higher US interest rates than during the taper tantrum in 2013, according to Goldman Sachs Group.
China’s currency is set to fall sharply in 2017, triggering turmoil in global equity markets and causing huge pain for commodity-dependent countries such as Australia, according to leading Beijing-based research analyst, Anne Stevenson-Yang.
Thomson Reuters is building a set of next-generation solutions for customers less willing to tolerate risk amid cost pressures.
The pound to Australian dollar exchange rate finds itself back at a familiar level as the new trading year starts.
Central European currencies opened the new year a touch weaker in thin trading, unfazed by strong December purchasing manager indices.
Kenya’s shilling and Zambia’s kwacha are seen holding steady against the dollar in the next week to Thursday, while Nigeria’s naira will likely weaken, traders said.
Rupee recovered by 14 paise to 68.08 against the dollar at the interbank foreign exchange on fresh selling of the US currency by banks and exporters.
The Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of the Basel Committee on Banking Supervision, welcomes the progress made towards completing the Basel Committee’s post-crisis regulatory reforms.