China’s central bank set its daily currency reference rate marginally stronger than 7 a dollar, leaving analysts anticipating Thursday’s fixing as a key policy signal.
President Xi Jinping, struggling to revive economy and quell Hong Kong protests, has little leeway for concessions that would undercut strongman image.
- US Declaring China a Currency Manipulator is an ‘Empty Threat’ – CNBC
- Trump Sets a Toothless Dog Loose on China – Financial Times
- China Isn’t Manipulating the Yuan—It’s Waiting Out Trump – Wall Street Journal
- Trump Plays Down Fallout from China Trade War – Financial Times
After the US central bank reshaped monetary policy around global trade volatility, a Federal Reserve official offered a message to the White House on Tuesday: Don’t expect more rate cuts every time trade policy threats or announcements send markets into a tailspin.
New Zealand’s central bank stunned markets on Wednesday by cutting the official cash rate by a bigger-than-expected 50 basis points, and looked set to keep policy lower for longer in the face of growing economic risks.
- Aussie Dollar Hits 10-Year Lows After NZ Rates Cut – Australian Financial Review
- RBNZ Chief Says Negative Interest Rates “Within the Realms of Possibility” – Reuters
The Reserve Bank of India cut interest rates by an unconventional 35 basis points slightly above expectations on Wednesday, its fourth cut in 2019 to try to boost a sluggish economy growing at its slowest pace in nearly five years.
Amir Yaron’s honeymoon as Bank of Israel governor lasted eight months.
Global financial turmoil is raising the heat on the Bank of Japan, raising the question of how much pain it can take before it is forced to act.
John McDonnell has promised a future Labour Government would not block a second independence referendum after a poll showed most Scots now support leaving the UK.
Wall Street’s push to clean up a $10 trillion corner of the derivatives market is getting poor reviews from an important audience: global financial regulators.
Long spoiled by the comforting support of central banks, investors are getting a feel for what it would be like when economic concerns, rather than central banks’ monetary policies, take a bigger role in determining asset prices.
Critics of Italy’s mini-BOT identify the threat in the wrong place.
A recovery in US stocks on Tuesday could merely be the calm before the storm, according to one analyst who has warned investors to brace for a possible “Lehman-like” aftershock following Monday’s broad sell-off.
Kik, the Canada-based messaging app, has filed a stinging rebuttal to a Securities and Exchange Commission lawsuit that claims its $100m initial coin offering was illegal, accusing the US regulator of “repeatedly twisting” the facts of the case.
Over the past few years, the use of Bitcoin for payments has taken a backseat to the increased focus on the digital asset’s use as a store of value. However, the payments use case is now making a comeback thanks to the development of the Lightning Network, which is a secondary protocol layer that enables cheaper, instant transfers for Bitcoin users.
In all the hype that has surrounded its Libra currency, Facebook has been able to distract attention away from an important issue.
The abrupt bitcoin price rally was largely put down to the escalating US-China trade war that’s being stoked by president Donald Trump and yesterday caused China’s yuan currency to weaken to its lowest point in more than a decade, prompting Trump to label Beijing a currency manipulator – but new data suggests there could be more to the latest bitcoin bull run.
Cboe Global Markets’ chief executive has shrugged off news of the London Stock Exchange Group’s (LSEG) move to acquire Refinitiv, stating that Cboe does not need large-scale mergers and acquisitions.
TP ICAP, the UK interdealer broker, has confirmed it will meet its reduced cost savings targets for integrating the £1.3bn deal for ICAP, allowing it to step up plans for more investment from in 2020.
Kantox has partnered with Silicon Valley Bank, to offer FX management software to SVB’s corporate clients across the UK.
Purchase of volatility benchmarks allows exchange group to target growth of fixed income ETFs.
The US-China trade war is being co-opted by Donald Trump’s team to try to boost the US president’s election prospects in 2020.
China’s move to let the yuan weaken and the US naming it a currency manipulator have opened up a new front the world’s central banks must contend with.
Trump wants it to be cheaper. The IMF says it should be cheaper. Hedge funds think it has room to run. So what gives with the dollar?
As tension between the US and China spill over to currency markets, Swiss and Japanese policymakers are coming under increasing pressure.