US Elections: What Does the USD Data Suggest? – Profit & Loss
TraderMade’s chief technical analyst, Steve Jarvis, has put out some interesting research looking at USD trading patterns around past presidential elections to see if there is any indication of what to expect in the upcoming one.
How the US Election Will Impact Currencies – Advisor
As the US election campaign comes to a close, keep an eye on currency markets—the outcome of the race could impact the US dollar and marketplace, along with other global currencies.
Dollar Eases from Highs on Uncertainty Over Fed, US Election – Reuters
The US dollar dipped against a basket of major currencies, reflecting nervousness surrounding Federal Reserve monetary policy and the US election, a day after touching a nearly nine-month high.
Climbing Dollar Expected to Hit Ceiling – Wall Street Journal (subscription)
Several signs suggest that the greenback won’t rise much further for now.
Curse of Asia Witching Hour Haunts Traders After Pound Crash – Bloomberg
Between the New York close and the start of trading in Tokyo, foreign-exchange volumes dwindle to just two percent of peak turnover, according to Aite Group, a consultant in Boston.
Pound is the Creme Brûlée of Currencies – Financial Times (subscription)
Sterling is the creme brûlée of major currencies: tap the surface and you will discover squidgy goo beneath.
On-Sef FX Trading Hits September High – FX Week (subscription)
FIA reports a 32% leap in volumes since August.
Edgewater Targets LatAm Growth with Matching Engine Launch – Profit & Loss
Edgewater Markets is expanding its LatAm business with the launch of a local matching engine in Mexico City.
Yuan Bearish Bets at Near Ten-Month High; Fed December Hike Views Sting Asia Forex Sentiments – Reuters
Bearish bets on China’s yuan hit a near ten-month high in the last two weeks as the central bank guided it weaker to reflect a firm dollar, and sentiment toward most emerging Asian currencies stayed pessimistic with US interest rates expected to rise.
Yuan Weakness Prompts Chinese Investors to Place Risky Bets on Digital Currency Bitcoin – South China Morning Post
Chinese investor demand for asset diversification amid the depreciating yuan has helped drive bitcoin to its highest value in three months, with the mainland Chinese market now accounting for 90 per cent of all trading in the digital currency.
Weak Currencies Do the Heavy Lifting – Value Walk
Smarter policies are leading to less vulnerable economies and rising currencies.
US Agency Takes Big Step Toward Regulating Fintech Companies – Bloomberg
The new arm of the Office of the Comptroller of the Currency will establish an outreach program to companies, conduct research and collaborate with other financial regulators, the agency said.
China Steps Up Yuan Rhetoric as Currency Falls to Six-Year Low – Bloomberg
Chinese officials and state-run media stepped up efforts to curb yuan depreciation concerns, talking up the currency as it traded near the weakest level in six years.
IMF Approves FX Collection Data to Calculate SDR – FTSE Global Markets
The International Monetary Fund has approved technical modifications to the methods for collecting the exchange rates used in the daily valuation of the SDR.
Icap-Tullett Deal Said to Face Regulator Query on Licensing – Bloomberg
UK regulators are examining the licenses needed for the $1.5 billion tie-up between Icap and Tullett Prebon, raising the possibility that the deal may be delayed beyond the firms’ end-of-year target, according to people with knowledge of the situation.
China’s Currency Continues Expansion With 57 Countries “Crossing The RMB River” – China Money Network
During the last two years until September 2016, seven new countries are now using the RMB for more than 10% of their direct payments by value with China and Hong Kong, bringing the total to 57 countries worldwide, according to the Society for Worldwide Interbank Financial Telecommunication (SWIFT).
Sliding Yuan Drags Asia FX Lower; Bond Outflows Hit Won – Reuters
Most emerging Asian currencies fell as China’s yuan hit a six-year low in offshore markets, with the dollar just shy of this week’s nine-month peak amid solid expectations of a US interest rate hike in December.
Yen Boosted Against Dollar on Weakness in Japanese Stocks – MarketWatch
The yen was virtually unchanged against major rival currencies during Asia trade Thursday in the absence of fresh trading cues.
Dollar Climbs Against Mexican Peso, Russian Ruble as Oil Sinks – Nasdaq
The US dollar strengthened against the Mexican peso and Russian ruble as a retreat by oil prices weighed on the currencies of commodity-exporting countries.