Oil Jumps After US Navy Downs Iranian Drone – Reuters
Oil prices rose nearly 2% on Friday as tensions brewed again in the Middle East after a US Navy ship destroyed an Iranian drone in the Strait of Hormuz, a major chokepoint for global crude.
Sleepwalking Toward a Currency War? (Opinion) – Inside Sources
Nobody can know with any degree of certainty whether we are headed soon to a destructive world currency war in which countries compete with to weaken their exchange rates to gain an unfair competitive advantage.
Chance of No-Deal Brexit Rises as Johnson Leads Hunt: Poll – Reuters
The chance that Britain will leave the European Union without a deal is the highest since October 2017, economists polled by Reuters say, as arch-Brexiteer Boris Johnson looks set to take over as prime minister next week.
Salvini Asks to See President Amid Doubts on Government’s Future –Bloomberg
Italian Deputy Premier Matteo Salvini has asked President Sergio Mattarella for a meeting which may take place Friday, according to an official who spoke amid speculation that the League leader could pull the plug on the populist government.
Merkel: Weaker Economy Gives Us Reason to Try to Stimulate Domestic Economy – Reuters
German Chancellor Angela Merkel said on Friday that Europe’s largest economy was in a “somewhat more difficult phase” after a decade of growth, adding that gave grounds to try to stimulate the domestic economy.
Japan, South Korea Diplomats Trade Words in Escalating Dispute Over Wartime Forced Labour – Reuters
Japanese Foreign Minister Taro Kono summoned South Korea’s ambassador on Friday in a deepening diplomatic dispute over compensation for Korean wartime forced labor that threatens global supply of memory chips and display screens.
New Thai Finance Minister says will not Interfere in Central Bank Policy – Reuters
Thailand’s new finance minister said he will not interfere in the central bank’s monetary policy decisions and will let it handle the strengthening baht currency.
Hedge Fund Manager Fined for Mis-Valuing Swaps –Profit & Loss
The Commodity Futures Trading Commission has issued an Order filing and settling charges against Swapnil Rege, a former portfolio manager for Connecticut-based hedge fund Marinus Capital registered with the CFTC as a commodity pool operator, for fraudulently mismarking swap valuations to artificially inflate the profits of his employer’s trading book in order to obtain an increased performance bonus.
Firms Should Explore the “Worst” in AI: FCA – FOW
UK financial markets regulator says boards should be asking themselves: ‘what is the worst thing that can go wrong’.
What Christine Lagarde Brings to the ECB: Flexibility – Wall Street Journal
The career of the next European Central Bank chief shows the institution is getting a diplomat and negotiator, not a technocrat or economist.
Chairman Tarbert Announces CFTC Executive Leadership Appointments – CFTC
US Commodity Futures Trading Commission chairman Heath Tarbert has announced appointments to key executive leadership positions at the CFTC.
G7 Crypto Opposition Masks Warmer Stance for Wholesale Markets – Financial Times
Regulatory fears over digital assets are narrow, focusing on consumer protection.
Bitcoin Bears ‘Poised’ After ‘Dr Doom’s’ Dire Crypto Exchange Warning – Forbes
Bitcoin and cryptocurrencies have divided the traditional financial industry and economists, with some arguing bitcoin and crypto is incompatible with the current system and others more open to the new technology.
Trump Tweets Crypto Rant — What Is the Bitcoin Reference Really About? – Coin Telegraph
The most newsworthy Trump rants almost invariably felt improvised, emotional and reactive. However, the historic series of tweets that constituted the first-ever public comment on cryptocurrencies by a sitting US president didn’t seem to fit the same mould.
BTC Price Reclaims $10K After US Lawmaker Says Bitcoin Can’t Be Killed – Coin Telegraph
Bitcoin has retaken $10,000 today following a moderately volatile month.
BNP Could Rise as Top Prime Broker in Asia on Deutsche Bank Deal –Bloomberg
As Deutsche Bank AG and BNP Paribas SA sort out a deal on servicing the German lender’s hedge-fund clients, one of the prizes at stake is the Asian business.
SocGen Begins Supporting Eurex FX Futures – Profit & Loss
Societe Generale is now supporting Eurex FX futures, from clearing to trading.
Hedge Funds Doubling Down on Algos – The Trade
The 2019 algorithmic trading survey finds that brokers are stepping up to the plate in the post-MIFID II landscape to provide consistent execution to hedge fund firms that are more knowledgeable and discerning than ever before.
JP Morgan Tells HFTs: You’re ‘All Finding Homes’ – FX Week
JP Morgan is confident that high-frequency traders will be able to stay in business and find new foreign exchange prime brokers following Citi’s decision to give 90 days’ notice to the largest electronic market-makers in currencies.
Dollar Falls as Fed’s Williams’ Remarks Stoke Rate-Cut Bets – Reuters
The dollar extended its losses against the euro, yen and other major currencies as remarks from New York Federal Reserve President John Williams increased bets the central bank would lower interest rates at month-end.
The Strength of the Dollar is Not Born in the USA – Financial Times
US growth and bond yields have converged towards those of the rest of the world this year. But there has been no reversal of the US dollar’s 2018 strength, merely a slowing of its appreciation.
Pound Steadies in Asia After Overnight Rally – Financial Times
Sterling had gained 1% on vote to block no-deal Brexit and Barnier comments.