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.
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.
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.
Several signs suggest that the greenback won’t rise much further for now.
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.
Sterling is the creme brûlée of major currencies: tap the surface and you will discover squidgy goo beneath.
FIA reports a 32% leap in volumes since August.
Edgewater Markets is expanding its LatAm business with the launch of a local matching engine in Mexico City.
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.
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.
Smarter policies are leading to less vulnerable economies and rising currencies.
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.
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.
The International Monetary Fund has approved technical modifications to the methods for collecting the exchange rates used in the daily valuation of the SDR.
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.
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).
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.
The yen was virtually unchanged against major rival currencies during Asia trade Thursday in the absence of fresh trading cues.
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.