Top Headlines

What Brussels Attacks Mean for Markets – Yahoo Finance

The attacks in the Belgian capital on Tuesday are unlikely to have a long-term impact on markets, but they could result in new roadblocks to cross-border commerce and lend momentum to Euro sceptics, analysts told CNBC. European stocks were under pressure but had come off their lows following deadly attacks at Brussels main airport and on the city’s metro system. U.S. equities were mixed by late morning.

China FX Regulator Queries Fund Managers on Overseas Investment: Sources – Reuters

China’s foreign exchange regulator has queried fund managers who invest abroad about use of their foreign currency quotas and clients’ demand for overseas products, sources told Reuters, reflecting lingering government concern over capital outflows.

As Fed Eyes Two Rate Hikes, Dovish Evans is no Longer Fringe – Reuters

The U.S. central bank has become so cautious about raising interest rates at even a moderate pace that the once-fringe preference of one of its most dovish policymakers for super-slow interest-rate increases has gone mainstream.

Japan Manufacturers’ Mood Weighed by Yen Gains, Emerging Market Slowdown – Reuters

Confidence at Japanese manufacturers eased in March and is seen unlikely to change much over the next three months, a Reuters poll showed on Wednesday, in a sign that yen gains and slowing growth in China and emerging markets are hurting exporters.

Moody’s Sees Gulf State Currency Pegs Withstanding Oil Rout – Bloomberg

Oil-rich countries in the Gulf Cooperation Council are unlikely to abandon their decades-old currency pegs to the U.S. dollar even as a slump in oil prices puts a $250 billion squeeze on the region’s finances, according to Moody’s Investors Service.

No Deal on Dollar-Yuan As Far As We Know: IMF – CNBC

There were no secret backroom agreements at the Group of 20 (G-20) meeting in Shanghai to manage the exchange rate between the dollar and renminbi, the deputy managing director of the International Monetary Fund (IMF) told CNBC, rebuffing reports of a deal.

Regulatory News

Milton Friedman’s ‘Helicopter Money’ is Looking Less Crazy – Bloomberg

Increasingly, central bankers, economists and market watchers are discussing the pros and cons of what’s called helicopter money, a 47-year old idea that posits a way to kickstart an economy through dropping money on its citizens.

ESMA Keen to Remind Commission of Deadlines as Mifid II Rumbles On – Financial News (subscription)

Europe’s top markets regulator has said that it will start work immediately on amending key Mifid II rules that were sent back to it for revision earlier in March, but warned that proper procedure is not being followed.

Company News

Cürex ECN to Integrate with FX Connect – Profit & Loss

FX Connect will integrate Cürex Group’s ECN into its platform, the firms announced yesterday.

BAML Names New EMEA FIG Heads – Financial News

The financial institutions group is a unit at the investment bank that provides advice to other banks and insurance companies.

Deutsche Boerse Cautioned Not to Pay Too Much for LSE – Bloomberg  

Some of the biggest shareholders of Deutsche Boerse AG are cautioning management not to overpay for London Stock Exchange Group Plc if a counteroffer emerges, according to people familiar with the matter.

Edgewater Raises $30 Million to Boost Growth – Profit & Loss

Electronic FX aggregator and distributor Edgewater Markets announced yesterday that it has raised a $30 million growth equity minority investment.

Credit Suisse to Cut More Jobs, Speed Up Trading Reductions – Bloomberg

Credit Suisse Group AG plans to eliminate an additional 2,000 jobs this year and deepen cuts at the investment bank, five months after Chief Executive Officer Tidjane Thiam announced an overhaul of the Swiss lender.

Market Savvy

Global FX Markets, A Correction Or Reversal? – Seeking Alpha

Markets are still reeling from the aftermath of last week’s FOMC meeting; that the sharp sweeping sell-off in the USD was overstated to say the least and we look for a data-driven correction over a 1M horizon. Yet, the lack of key US data releases this week means that any meaningful USD recovery could be delayed until clearer domestic signals arise.

Biggest Currency Trader Backs Rupee Amid Best Rally in Two Years – Bloomberg

Citibank is predicting India’s rupee will hold much of the gains from what looks set to be its best month in two years.

Press Releases

CME Group and Thomson Reuters to Enhance LBMA Silver Price Benchmark

CME Group, the world’s leading and most diverse derivatives marketplace, in its capacity as joint administrator and calculation agent for the LBMA Silver Price, and Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, today announced the implementation of new measures to further enhance and develop the LBMA Silver Price Benchmark, based on ongoing consultation with participants and approval of the independent Oversight Committee.

Industry Events

FOW: Derivatives World, 12-13 April in Hong Kong

FX Week FX Invest North America, 12 April in Boston, MA

Profit & Loss Forex Network London, 14 April in London, UK

Profit & Loss Latin America, 20 April in Mexico City

ACI World Congress 2016 – Indonesia, 26-30 April, Jakarta

Eurofinance:  Asia Treasury, 18-20 May in Singapore

Profit & Loss Forex Network New York, 26 May, New York City

FIA: IDX 2016, 7-8 June in London, England

Profit & Loss Scandinavia, TBD September, Copenhagen

Profit & Loss Forex Network Chicago, 28-29 September, Chicago, IL

Sibos 2016, 26-29 September in Geneva, Switzerland

FIA: Expo, 18-20 October in Chicago, IL