Emerging Asian currencies were set to post monthly losses in November after Republican Donald Trump’s surprise US election win inspired a rousing rally in the dollar.
Combined with fresh concern about China’s banking system, a stress test for British banks and a raft of euro zone data, the OPEC meeting topped off a wild November for financial markets that has been dominated by Donald Trump’s victory in the US presidential election.
- Dollar Slips as Investors Rebalance at End of Month – Wall Street Journal (subscription)
- Euro to Dollar Exchange Rate Forecast to Trace a ‘Bowl Profile’ by Danske Bank – Pound Sterling Live
The dollar was on pace for its best month against the yen since 2009 as signs of US economic strength spurred bets that monetary tightening will accelerate.
The relationship between currencies, trade and economic health isn’t as simple as it used to be.
Sterling steadied in the middle of a three percent range it has held for most of the past month, any further progress against a slightly weaker euro undermined by a weaker reading of British consumer sentiment.
Move through euro-dollar parity requires significant negative political news in Europe.
There’s an acrimonious campaign, a vote and then a cliff-hanger result. The routine is all too familiar for bond and currency traders.
The renminbi on track for a fourth day of firming against the dollar after China’s central bank once again pushed the currency’s trading band (marginally) stronger.
China added new restrictions on pulling yuan out of the country as authorities seek to prevent a flood of capital outflows from destabilizing the financial system.
You can almost hear the exhales from China’s central bankers.
Macquarie Bank says it is merging two of its three capital markets facing businesses: Macquarie Securities Group and the Commodities and Financial Markets Group.
Iranian media are reporting that the country’s currency has plummeted more than five percent against the US dollar in less than 10 days.
Scramble for dollars was compounded when the central bank started issuing a parallel currency.
UK Financial Conduct Authority has concluded FX remediation programme, stating it has ‘improvements’.
The National Futures Association has submitted a proposed rule to the US Commodity Futures Trading Commission that will raise transparency levels for retail FX customers when executing in markets.
Research from Tabb Group estimates FCMs could record around $4.5 billion in 2016 from derivatives clearing.
December Financial Transaction Tax discussions postponed until January 2017.
South Korea’s financial regulator approved a plan to introduce a tough regulation on local banks’ foreign exchange liquidity.
The Monetary Authority of Singapore (MAS) and the Bank of Japan announced a bilateral local currency swap agreement between the two countries, MAS said in a news release.
Jodi Burns is leaving her position as global head of regulation and post-trade, FX, at Thomson Reuters in New York.
Invast Global, an Australian-based non-bank prime services brokerage, has announced a deal with XTX Markets that will allow its clients to access XTX’s liquidity via its multi-asset prime services facility, PurePrime.
Calypso Technology has become the first firm to partner with R3 to develop capital markets applications on its Corda distributed ledger-based smart contract platform.
Portware upgraded its execution management system (EMS), Portware Enterprise.
Emerging-market stocks trimmed their worst monthly drop since January as technology companies rallied, while most currencies weakened before OPEC’s decision on an oil supply-curb deal.
Russia’s ruble and an ETF pegged to Russian equities are on track for their largest declines in three weeks.
The pound vs Australian dollar exchange rate continued to perform strongly and is likely to hold these gains unless Tuesday night or Wednesday see yet another reversal in commodity news.