Trading
The end of the beginning
David Mann, head of research, at Standard Chartered in Hong Kong looks at the key drivers for the major foreign exchange markets
Japanese retail forex boom expected to continue
TOKYO – The boom in retail margin foreign exchange trading in Japan is likely to continue, according to research by Boston-based consultancy Celent.
Westpac wins with element of Surprise
Westpac tops this week’s one-month forecast rankings by accurately predicting a turning point in USD, despite the challenge presented by extreme moves in the currency during March and April.
Icap revenues soar on back of volatile forex markets
LONDON & NEW YORK – Volatile currency markets led to a 23% increase in annual foreign exchange revenue at interdealer broker Icap, according to results released last week (May 20).
Death by association
The application of credit technology to diverse underlyings led to the birth of collateralised foreign exchange obligations in 2006. But despite being built from uncorrelated underlyings, their fortunes have proven highly correlated with the wider market…
CLS live with Israeli shekel and Mexican peso
LONDON & NEW YORK – CLS Bank is today (May 26) launching settlement of Israeli shekel and Mexican peso foreign exchage trades in a move that expands its footprint in the emerging market currencies.
Pakistan warns against FX speculation
ISLAMABAD - Pakistan's finance minister, Muhammad Ishaq Dar, has warned of "stern action" against currency speculators.
St George picks USD recovery for first-time win
Picking the right time in the US economic cycle for a modest dollar recovery has seen St George Bank rise to the top of the one-month currency forecast rankings for the first time.
TD in Asia hub shake-up
SINGAPORE, SYDNEY & TORONTO - Toronto Dominion Securities has relocated its Asia foreign exchange and rates trading hub from Sydney to Singapore, in a move to boost its coverage of the emerging markets.
Asia and the US-led slowdown
Jane Foley, senior foreign exchange strategist and portfolio manager at Redtower Asset Management in London, looks at the implications of a US slowdown on the Asian markets
StanChart moves Africa FX team to Dubai hub
LONDON & DUBAI - Standard Chartered is moving its offshore African foreign exchange trading desk from London to Dubai, as it continues to build operations in the Middle East.
BOC acts to curb RMB speculative buying
HONG KONG - Bank of China, the only clearing bank for Chinese renminbi foreign exchange transactions in Hong Kong, raised the cost of converting the Hong Kong dollar to renminbi last Wednesday (May 7).
Quick rolls out new Icap data
TOKYO - Japanese financial information vendor Quick, the country's dominant domestic provider, is adding a suite of new currency datasets and services from interdealer broker Icap to its products.
Euro threat remains, says UK's House of Lords
LONDON - The euro has managed to avoid an initial quick collapse predicted by many, but the threat has not yet passed, according to the UK's House of Lords.
CNY: No clear reason for NDF retreat
SINGAPORE - Mispricing seen in the Chinese renminbi non-deliverable forwards (NDF) market in recent weeks will be short-lived, say analysts.
Citi holds firm with negative US outlook
NEW YORK - Expectations for further weakness in the US economy has seen this week's top-ranked three-month forecaster, Citi, take a cautious approach to the recent dollar revival.
Czech forex volumes double in six months
PRAGUE - The credit crisis led to a sharp rise in Czech koruna forwards and foreign exchange swaps volumes in April, according to statistics released last week.
Efficient correlation
Marc Chandler, chief currency strategist at Brown Brothers Harriman in New York, shows how a study of correlations can reveal valuable information about the shifting relationship between global currencies
Risks for Anglo-Saxon currencies
Mike Gallagher , director of research at IDEAglobal in London, evaluates the prospects for currency markets during a break in the intensity of negative credit or economic news
GCC currency pairs live on ACM
GENEVA - Six new Gulf Co-operation Council (GCC) currency pairs are now available to traders on Geneva-based online currency trading platform AC Markets (ACM).
Short volatility strategies best earners in April
LONDON - A short volatility strategy would have gained currency managers the highest returns in April, according to strategy research carried out by ABN Amro.
Scotia profits from eurozone's escape
Scotia Capital topped this week's three-month forecast rankings with a bullish euro forecast as the eurozone, and the European Central Bank (ECB), held firm in the face of the US downturn.
RBI releases details of rupee futures plans
MUMBAI - The Reserve Bank of India (RBI) has recommended a single dollar-rupee contract of $1,000 for the introduction of exchange-traded futures into the country.