Trading
The rise of the vol product
To get pure exposure to the new asset class, Philippe Lintern , head of FX Complex Products at The Royal Bank Of Scotland in London, proposes volatility products
Saxo's short-term yen view pays out
Saxo Bank's weak short-term view on the Japanese currency has helped the bank beat rivals UBS, GFT and Citi in FX Week 's one-month currency rankings.
FXMarketSpace volumes continue to rise
LONDON – Average daily trading volumes on FXMarketSpace rose 54% in May, indicating steady growth over the platform, say analysts.
JP Morgan rewarded by yen view
A weak position on the Japanese currency helped JP Morgan reach second place in this week's one-month currency forecast.
Exchange-traded rupee futures contract to launch
DUBAI – On June 7, the Dubai Gold and Commodities Exchange (DGCX) will launch the first exchange-traded Indian rupee futures contract.
Sensible, flexible, stable: meet the GBP
Despite dropping all talk of euro membership, the UK has achieved exactly what it needed: a stable and sensibly priced currency while maintaining a flexible monetary policy, says Simon Derrick , head of currency research at Bank of New York in London
GFT reigns on long-term optimism
Astute longer-term predictions have ensured GFT’s continued reign over the 12-month currency forecast table.
Trading Places
HSBC, Joseph De Feo, Merril, Nixon, Citi, Bear Sterns, Credit Suisse, Calyon, RZB, WestLB, ANZ, CMC
Reaction to China’s wider trading band
In the week after China’s triple response on monetary policy, sentiment on the groundis confident, according to two experts at JP Morgan in Singapore: David Fernandez,head of emerging Asian economic research, and Claudio Piron, head of Asian FX research
Survey reveals forex risk as a major concern
EDINBURGH – The majority of corporate treasurers view FX risk as their biggest concern, according to a survey released earlier this month.
EBS acquisition drives Icap results
LONDON – Interdealer broker Icap’s profits for the year ending March 31 rose 11%, largely on the back of last year’s acquisition of electronic broker EBS.
GCC currency uncertain after Kuwait abandons dollar peg
SAFAT, KUWAIT – The decision to abandon the Kuwaiti dinar’s peg to the US dollar in favour of a basket of major currencies has brought into question plans to introduce a single currency for the six Gulf Cooperation Council (GCC) states.
Forex traders face greater pressure from e-trading
LONDON – The surge in electronic trading and advances in derivatives structuring is putting greater demands on FX traders, say market participants.
Bank of America views weak dollar
An eye on a highly pressured greenback helped Bank of America (BoA) reach the top of the three-month currency forecast rankings this week.
Hear no evil?
Retail punters and cross-border institutional investors have adopted strong risk-seeking positions despite warnings of a Chinese stock market bubble, find Andrew Capon, editor-in-chief, and Michael Metcalfe, head of macro strategy at State Street Global…
China widens trading band
BEIJING – China widened the USD/CNY trading band to 0.5% from 0.3% effective today (May 21), signalling a more aggressive move towards CNY appreciation, said analysts.
BoE rate hike should have been higher
Commenting on last week's widely anticipated 0.25% rise in UK base rates, London-based fund manager Ted Scott of F&C Investments believes the Bank of England's Monetary Policy Committee should have done more to stamp out inflationary expectations
4Cast buoyed by trade sentiment
A belief in the longevity of the carry trade has helped economic consultancy 4Cast top the three-month currency forecast rankings this week.
Does one platform really fit all?
Do clients even want to trade multiple asset classes from a single platform? That's an interesting question.
Market nonchalant about FXMS data
CHICAGO – Market participants largely shrugged off volume data released by Reuters/Chicago Mercantile Exchange (CME) joint venture platform FXMarketSpace last week, claiming it is too early to judge the success of the platform.
BarCap prevails on bearish outlook
A weak dollar and yen view helped Barclays Capital to top the one-month currency forecast tables this week.
Avoiding corporate cable complacency
UK corporates need to keep their eyes on hedging policies as city analysts debate the sustainability of the current cable price, says John Haines , managing director, financial markets sales at Lloyds TSB Corporate Markets
Credit Suisse joins index bandwagon
LONDON – Credit Suisse has launched FX Rolling Optimised Carry Indices (ROCI) for forex carry trade investors.
BNP Paribas eyes bullish sterling
BNP Paribas tops this week's three-month forecast rankings with a bullish stance on sterling.