Trading
Traders shrug off Brazilian controls
BRASILIA & NEW YORK – Traders and analysts have largely shrugged off currency and capital controls introduced by the Central Bank of Brazil on Friday, June 8.
Dollar could hit 1.40 against Swissie
The prospects for a stronger dollar are scrutinised by Benedikt Germanier , currency strategist at UBS in Zurich
BIS report highlights trade growth
BASEL – Trading in currency, interest-rate and equity products continues to grow, according to the latest Bank for International Settlements (BIS) quarterly review released last Monday (June 11).
Progress adds algorithmic functionality to Apama
BEDFORD, MASSACHUSETTS – Software vendor Progress Software is today (June 18) launching an FX package that allows FX traders to run algorithms across multiple liquidity sources, accessing best price and market depth.
Weak greenback benefits RBC
Broad US dollar weakness helped RBC Capital Markets top the three-month currency forecast rankings this week.
High volatility sparks surge in FX trading
LONDON & CHICAGO – High volatility at the beginning of the month saw strong FX trading flows transacted across major trading venues.
FX and DX: volatility events and the bid-ask spread
Charles Wright suggests a rational means for adjusting the bid-ask spread to compensate for the uncertainty associated with routine event-driven conditions
Maybank launch targets retail clients
KUALA LUMPUR – Malaysian bank Maybank last week launched G10FX CG, currency-linked investment products aimed at retail clients.
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.