Top Headlines

Taking it One Step Further: Using Machine Learning to Improve Trading – Profit & Loss (Subscription)
Hasan Amjad, head of algorithmic trading at GAM Systematic Cantab, explains how machine learning tools and techniques have enabled his firm to improve almost every aspect of its trading capabilities.

ECB’s Villeroy Says Trade Wars Hurt Growth, Sees No Sign of Currency Wars – Bloomberg
European Central Bank Governing Council member Francois Villeroy de Galhau discusses trade tensions, currencies and crypto-assets during an interview in Paris on “Bloomberg Surveillance.” (Source: Bloomberg)

CTA Performance Improves Marginally in April – Profit & Loss
The Societe Generale CTA Index posted a slightly positive return of 0.08% in April as market conditions improved but remained uncertain.

Turkey’s Treasury Denies Changes in Foreign Exchange Regime – Bloomberg
Turkey’s Treasury denied media reports that it planned new changes in the foreign exchange regime, even as parliament prepared to empower authorities to demand access to foreign currency transaction data.

Regulatory News

Crypto Self-Governance Touted as Solution to Regulatory ‘Mess’ – CoinDesk
The question of whether self-regulation will help solve some of the cryptocurrency industry’s problems was on full display Monday during CoinDesk’s Consensus 2018 conference.

U.S. Crypto Regulatory Fight Has Everything But Rules: QuickTake – Washington Post (Subscription)
A chunk of Washington has been working to figure out what to make of cryptocurrencies. For some, the question is how to regulate the digital assets; for others, it’s how to cash in on them by influencing the debate.

Company News

Thomson Reuters Shifts MTF to Dublin Ahead of Brexit – Profit & Loss
Thomson Reuters is planning to move its FX Multilateral Trading Facility (MTF) from London to Dublin as a result of Brexit.

Tragedy as Credit Suisse’s New NYC-Based Head of FX Sales Passed Away – eFinancialCareers
Credit Suisse’s New York markets professionals are in mourning this morning as Dan Silber, the bank’s head of FX and emerging markets FX sales passed away at home at the weekend.

Ogilvy Joins Morgan Stanley – Profit & Loss
David Ogilvy has joined Morgan Stanley as vice president, MSET macro e-FX and e-FI distribution.

Crypto News

St. Louis Fed President on Crypto: ‘Currency Competition Is Nothing New’ – CoinDesk
James Bullard, president of the St. Louis Federal Reserve Bank, said Monday that cryptocurrencies “are creating drift toward a non-uniform currency in the U.S.”

Can Bill Gates Short Bitcoin? – Forbes
It all started last Monday when Bill Gates was quoted as saying he would short bitcoin if he could on CNBC.

Market Savvy

Indonesian Stocks, Currency Drop After Fresh Bombing – Bloomberg
Indonesia’s stocks and currency fell on Monday after a fresh explosion rocked the main police office at Surabaya, a city that was hit by a series of bombings a day earlier.

Hedge Funds Cut Gloomy Dollar Bets Vs Emerging FX, Swiss Franc – Reuters
Hedge funds and speculators continue to revise their bearish view on the dollar, making historic cuts to their short positions at both ends of the risk spectrum

FX Corner: ‘Which Way For The USD?’ Plus AUDJPY And USDCHF Trade Ideas – Seeking Alpha
I’ve got a few key issues to write about here with the main issue pertaining to USD direction. In FX, this is absolutely key, and in recent weeks, I have changed my USD bias from being long term bearish to actually being bullish due to underlying money market fundamentals.

C$ Firms Against Weaker Greenback as Oil Prices Rise – Reuters
The Canadian dollar edged higher against its U.S. counterpart on Monday as the greenback broadly fell and oil prices rose.

Currency Crisis Won’t Rock Asia – The Economic Times
The turbulence seen across emerging markets is following a similar pattern to a crisis that rocked global trading more than two decades ago — it involved tequila.