Opinion
AUDIO: Welcome to Crisis 2.0
With all proxies for risk appetite at or below summer 2010, a third round of quantitative easing is inevitable, says Saxo Bank
Dispelling the myths of HFT
Central bankers can no longer ignore the impact of high-frequency trading on the FX market
No more lifelines for Greece
Following a chaotic series of last-ditch efforts by political leaders to put together a solution to the troubles in the eurozone, Nick Beecroft believes the only viable option left is to transfer cash from the core of Europe to the periphery, through the…
The rise and rise of retail FX
Questions were raised in July when the Bank of England’s FX joint standing committee revealed a jaw-dropping 23% increase in UK turnover between October 2010 and April 2011. Among a number of drivers contributing to the increase, the most notable is the…
AUDIO: Get ready for crisis 2.0
Nick Beecroft, senior markets consultant at Saxo Bank in London, warns that financial markets are at the brink of crisis 2.0.
Trading like it’s 2008
Foreign exchange markets in 2011 continue to show parallels to 2008, but the economy is unlikely to slip back into recession and Asian currencies look set to benefit from broad-based US dollar selling. Callum Henderson looks at the key similarities…
Options clearing on the rocks
Could clearing of FX options be stymied by the CPSS-Iosco requirement that financial market infrastructures provide clear and certain final settlement?
AUDIO: The US Debt Crisis and the Dollar
With only days to reach an agreement to increase the US sovereign debt ceiling, Nick Beecroft, senior markets consultant at Saxo Bank looks at the key risks for the US dollar.
More upside in the Aussie dollar
Paul Bednarczyk, head of currency strategy at 4Cast in London, looks at the steady rise of the Australian dollar since 2008 and explains why it might yet appreciate further
AUDIO: QE3, China and trendless markets
Nick Beecroft, senior markets consultant at Saxo Bank in London, says the risks of crisis 2.0 have just gone up.
The DTCC's repository monopoly
June in perspective: trade repositories take centre stage as FX participants prepare for a mandatory requirement to report trades to a central infrastructure
Making the case for Asian currencies
Callum Henderson, global head of FX research at Standard Chartered in Singapore, believes Asia is better insulated from the economic downturn than in previous cycles and investors should maintain allocations to the region’s currencies
Two sides to every argument
May in perspective: participants hope the US Treasury will hold by its proposed exemption, despite several calls for further independent analysis of the FX market
AUDIO: Is the European Monetary Union bound to fail?
Nick Beecroft, senior markets consultant at Saxo Bank in London, looks at the key developments in the unfolding sovereign debt crisis and the political will of the Union's architects.
Against the Treasury’s proposed exemption
Systemically significant foreign exchange markets need transparency and regulation, argue Dennis Kelleher and David Frenk
In favour of the Treasury’s proposed exemption
Darrell Duffie's opposition to the US Treasury's paper misses crucial points, argues Justyn Trenner
Audio: To QE or not to QE, is the only question?
Markets could be sleepwalking into global crisis 2.0 as a third round of quantitative easing becomes increasingly likely, cautions Nick Beecroft, senior markets consultant at Saxo Bank in London.
Sanity check on the value of emerging markets
April in perspective: investors and managers appear to have become more averse to the risk posed by emerging market currencies after volatility struck in March
Reality check on CAD and AUD assumptions
Jeremy Stretch, head of FX strategy at CIBC in London, asks whether the Canadian or the Australian dollar is a better buy in an environment in which both appear attractive alternatives to struggling traditional currencies
The month that 2011 got interesting
March in perspective: an earthquake in Japan and soaring yen; Thomson Reuters Matching out for four hours; Icap moves to decimals on EBS; and what's the latest on Pure FX?
Audio: ECB and BOJ face crisis
Nick Beecroft, senior markets consultant at Saxo Bank, discusses the challenges facing the European Central Bank and the Bank of Japan
What Japan’s crisis means for the yen
Reflecting on the earthquake and tsunami that struck Japan on March 11, Thomas Stolper, chief FX strategist at Goldman Sachs in London, challenges popular assumptions that have been made about the impact the crisis will have on the yen
The US dollar – still a safe haven?
Adam Cole, global head of foreign exchange strategy at RBC Capital Markets in London, argues that continuing dollar weakness is not a reflection of risk aversion in the FX markets, but rather a result of a growing difference between US and European…
A month of ongoing regulatory uncertainty
A new monthly column by FX Week editor Joel Clark, reviewing the key trends and developments in the month gone by