Trading
Thailand to scrap controls
BANGKOK - The Bank of Thailand's plans to get rid of remaining capital controls will lead to a widening of the spread between the onshore and offshore spot rates, say analysts.
Raised margin requirements threat to global liquidity?
CHICAGO - The Chicago futures exchanges' decision to raise margin requirements could affect global liquidity, warn analysts.
South Africa looks to currency futures
JOHANNESBURG - South Africa will launch currency futures trading on its interest rate exchange platform, YieldX, in coming months.
BarCap tops 12-month spot with bearish view
A bearish view on the USD and yen has shot Barclays Capital to the top of the 12-month forecast index.
Concerns mount over reserve increases
LONDON - Foreign exchange reserves are set to grow by 20-59% over the next three to four years, according to a survey released by Central Banking Publications last Monday (February 26).
Trend-following strategies lose out once more
LONDON - Research by ABN Amro has found that trend- following strategies were the poorest performers in February, losing 2.5% over the month, said James Binny, head of FX analytics at the Dutch bank in London.
Carry on... with a difference
There are many ways to take advantage of uncorrelated carry trades, says Marios Maratheftis, FX strategist at standard chartered in London
Traders unmoved by BoJ interest rate rise
TOKYO – Traders shrugged off the Bank of Japan's decision to raise interest rates by 25 basis points last Wednesday (February 21), with the yen remaining weak in its wake.
Calyon's bearish USD outlook pays off
Calyon tops this week's one-month forecast rankings, with a belief that the greenback would decline versus the euro.
FXall adds benchmark fixings to QuickOMS
LONDON – FXall has added benchmark fixings from Citigroup, HSBC and the Royal Bank of Scotland (RBS) to its order management system, QuickOMS.
Danske prevails on mild conditions
Danske Bank stands atop the one-month rankings this week, amid benign conditions in the global economy.
Loonie should rise against greenback
The languishing Canadian dollar has the potential for a stronger close to the year, says Camilla Sutton, currency strategist at Scotia Capital in Toronto
Celent consulting report hails the exchange model
PARIS – The exchange model is set to be the future model for FX, according to a report released last week.
Oil rebound bolsters CMC standing
CMC Markets has topped this week's one-month rankings and one-month year-to-date index, on the back of the recent rebound in oil prices.
ECB, BoE leave rates unchanged
Daragh Maher, senior FX strategist at Calyon in London, evaluates the European Central Bank and the Bank of England's inaction on rates last week, and what lies ahead
Currenex set to move into new asset class
NEW YORK – Trading technology vendor Currenex is going multi-asset class, according to officials at the company in New York.
EBS adds ruble trading to spot platform
LONDON – Spot broker EBS has launched ruble trading over its spot matching platform, EBS Spot.
Strategists warn of carry trade risk
LONDON – FX markets could face disruption as the carry trade and a declining yen reached critical levels last week, warned analysts.
CBA wins out, exploiting yen weakness
The Commonwealth Bank of Australia (CBA) topped this week's one- and three-month rankings with its non-consensus view on the yen coming through.
Charting the rise of the ruble
Dmitri Fedotkin, economist at VTB Bank Europe, says the Russian ruble is set to rise further against the dollar and euro this year
Forex gap widens between London and New York
LONDON & NEW YORK – Forex volumes in London have outstripped those of rival trading centres, as the boom in mergers and acquisitions (M&A) and proximity to emerging markets provides a boost to the UK capital.
The importance of best execution
The biggest piece of news to come out of last week is the sale of Currenex to State Street for $564 million.
Mifid explained – an introduction
Chris Pickles, chair of the Mifid Joint Working Group in London, discusses the implications of the directive on foreign exchange
State Street acquisition of Currenex sends shock waves
BOSTON – US bank State Street's decision to acquire FX trading platform Currenex for $564 million has sent shock waves through the industry.