Foreign exchange
Thomson Reuters: Eurodollar rise will 'run out of steam'
Thomson Reuters - IFR topped the one-month currency forecast poll this week with expectations that the euro would bounce back from the European sovereign debt crisis.
Trading Places, August 2, 2010
Read this week's Trading Places to catch up on people moves across the FX world.
UBS nabs BarCap trio in e-FX
LONDON - UBS has hired an electronic algorithmic trading team from Barclays Capital (BarCap) in London, according to an internal announcement today (July 27).
Markets brace for stress tests
LONDON – The euro traded firmly ahead of the European bank stress test results last Friday (July 23), despite expectations several banks will fail. But analysts warned the common currency is still a risk asset.
EBS chases competition with decimalisation launch
NEW YORK - EBS's plans to offer decimalisation at the end of August could lead to a fall in market liquidity, caution traders.
Hotspot FX volumes up year-on-year
JERSEY CITY, NJ - Hotspot FX reported average daily volumes of $37.2 billion – double count – in June, up from $22.5 billion a year earlier.
Regulatory uncertainty hits US banks’ Q2 results
NEW YORK - Most US banks reported a slump in forex revenues in the second quarter this year versus last year, citing a drop in risk appetite and liquidity amid concerns over regulatory changes and the European debt crisis.
CitiFX Pro to launch in Singapore
SINGAPORE & LONDON - CitiFX Pro, Citi’s margin foreign exchange trading platform, will launch in Singapore soon, targeting small institutional clients, said Kevin Wilson, director of margin FX trading for Citi's institutional clients group in New York.
2010 the year of the yen
Simon Smith, chief economist at retail trading company FxPro in London, says the yen will drive currency markets in the second half of the year
Sales head Héritier quits RBC
LONDON – François Héritier, managing director in foreign exchange sales, has left Royal Bank of Canada Capital Markets (RBC) in London, according to market sources.
Trading Places, July 26, 2010
Read this week's Trading Places to catch up on people moves across the FX world.
RBC: Low Fed rates boost yen
RBC Capital Markets (RBC) topped the three-month currency forecast rankings this week with a focus on euro crosses against the yen and Swiss franc.
Trading shuffle at TD Securities
LONDON – TD Securities has made a spot hire but also replaced a recently departed options trader, confirmed Mark August in London, managing director and head of FX sales and trading for Europe in London.
Enforce clearing, catapult FX into the big league, say FX Week USA panellists
NEW YORK - Counterparty risk is preventing FX from becoming a major asset class and must be addressed, according to panellists discussing the future of the FX industry at the FX Week USA congress in New York last Tuesday (July 13).
BarCap hires in correlations
LONDON – Barclays Capital (BarCap) has hired Leo Cabral to head its correlations desk in London.
RBC goes macro with Severi
TORONTO – Andre Severi has joined RBC Capital Markets (RBC) as head of Canadian macro foreign exchange sales in Toronto, from State Street.
Hervé Ferhani: EM countries in capital controls dilemma
NEW YORK - Emerging market (EM) countries that enforce capital controls will trigger a domino effect across neighbouring countries, according to Hervé Jacques Ferhani, deputy director of monetary and capital markets at the International Monetary Fund in…
RBS adds in e-sales
STAMFORD, CT – Royal Bank of Scotland (RBS) is increasing coverage of electronic sales to financial institutions with a hire from Barclays Capital in the US.
BNPP: Europe looks to liquidity and austerity
BNP Paribas (BNPP) has topped the 12-month currency forecast rankings for the third time in a row, having focused on the implications of liquidity and austerity measures on currency markets.
Trading Places, July 19, 2010
Read this week's Trading Places to catch up on people moves across the FX world.
RBC: Japanese limits on margin trading will weigh on Aussie/yen cross in August
Japanese plans to limit leverage on margin trading to a maximum of 50 times collateral in August could affect Australian dollar/yen cross rates.
CBA gains Plesser in senior sales hire
NEW YORK – Commonwealth Bank of Australia (CBA) has appointed Paul Plesser from HSBC as its new head of foreign exchange sales for the Americas in New York, confirmed a spokesperson.
Exshaw signs up former colleague
NEW YORK - Christian Exshaw, head of distribution and global derivatives at CIBC, has recruited former Dresdner and Deutsche Bank colleague Ricardo Zulliger in New York.
