Bonds, stocks and currencies are moving in tandem more often, as central-bank surprises and trade uncertainty assert their grip over markets. Known by investors as “risk-on, risk-off,” the phenomenon happens when markets essentially split into two broad buckets that move together.
As data in the FX market becomes increasingly democratised, panellists at Profit & Loss Forex Network debated what this means for the industry.
The Bank for International Settlements has warned that big tech firms such as Facebook pose a risk to the international banking system, urging policy-makers to take action.
The New York Stock Exchange and Nasdaq on Monday accused SEC official Brett Redfearn, who supervises them, of having ethical conflicts because of his prior Wall Street work, raising the ante in a battle with Washington over how the companies sell market data.
A joint statement from US and UK regulators signals a continued scrutiny on so-called “manufactured credit events” in the credit derivatives market.
Eric Pan is leaving his role as director of the Commodity Futures Trading Commission’s Office of International Affairs in August.
Democratic presidential hopeful Bernie Sanders is proposing cancelling the nation’s outstanding $1.6 trillion of student debtt and offsetting the cost with a tax on Wall Street transactions.
Flawed, derided, feared: Facebook’s proposal for a new virtual currency, revealed last week, has already provoked a backlash. But might it end up blowing the financial system wide open anyway?
- Libra’s Technical Features Are Not What’s Exciting – Bloomberg (subscription)
- A Monumental Fight Over Facebook’s Cryptocurrency Is Coming – CoinDesk
Bitcoin’s price rose to fresh 15-month highs today, with a key technical indicator pointing to strongest buying pressure in over two months.
JP Morgan is to start trials of its “JPM Coin” cryptocurrency in conjunction with corporate clients.
GlobalLink, State Street’s provider of e-trading platforms, technology, data and workflow solutions, has joined the Foreign Exchange Professionals Association.
Tradition has its revamped its market data and information services division, TraditionDATA, which will now offer more flexible data packages.
Jump Trading is set to bring its FX pricing and trading engine to Singapore later this year, making it the latest financial institution to expand FX trading operations in the region.
Tradepoint says several banks have engaged the foreign exchange trading technology provider to support a streaming model for far-date and broken-date non-deliverable forwards.
US investment banks have moved up the rankings in the UK as most European banks continue to lose market share amid sliding revenues. As Brexit has weighed on dealmaking in 2019, investment banking revenues in the UK have slipped by 36% on the same period last year, according to preliminary data for the first six months provided by Dealogic.
The US dollar continued to lose ground on Tuesday amid rising expectations of rate cuts by the Federal Reserve, boosting other major currencies ahead of speeches by US rate-setters this week.
Dollar weakness allowed the pound to briefly scale a one-month high on Tuesday, though the risk of no-deal Brexit stemming from the Conservative Party leadership contest kept the currency hemmed into a narrow trading range.
Fund managers are sticking to their positions ahead of this week’s meeting between presidents Donald Trump and Xi Jinping, saying they don’t expect much progress to be made.