Trading
Timing the USD decline
A 50 basis point Fed cut has confirmed that USD cyclical support is fading rapidly, according to Niels From, global FX strategist at Dresdner Kleinwort in Frankfurt
Capital enters retail FX
LONDON - Capital Forex, the FX arm of online trading company London Capital Group, is white-labelling Currenex's technology to break into the retail foreign exchange market.
Bullish euro benefits Scotia Capital
Currency strategists Camilla Sutton and Stephen Malyon of Scotia Capital in Toronto said a bullish stance on the euro helped the bank top the three-month historical index table this week.
G-10 foreign exchange is no longer unbreakable
The G-10 trading environment remains fragile at best, and the growing dislocation between equity and credit markets is becoming more worrisome, according to David Mozina at Lehman Brothers in New York
Retail forex traders will bounce back
Retail foreign exchange traders were among the hardest hit in the August turmoil, where risk aversion led to a sharp reversal in carry trades. But it looks like many market participants haven't been deterred from pursuing the potentially lucrative…
RBC boosts emerging markets capability
NEW YORK – RBC Capital Markets is expanding its multi-asset class emerging markets business with two hires in New York covering the Americas.
EBS launches trading in USD/TRY
LONDON – London-based spot-broking platform EBS is launching trading in the US dollar/Turkish lira currency pair today (September 17) in an effort to expand the range of tradable emerging market currencies.
Japan's EBank ventures into forex market
TOKYO – Tokyo-based online bank EBank is breaking into the foreign exchange market with plans to enable FX margin trading at the Tokyo Financial Exchange in the next three months.
BNP Paribas bets on GBP, and wins
BNP Paribas has risen up the three-month forecast rankings this week by maintaining a bullish view on sterling.
Icap and CME Group report bullish trading in August
LONDON & CHICAGO – Interdealer broker Icap and the Chicago Mercantile Exchange Group (CME Group) have posted record volumes in foreign exchange trading for August, amid continued high volatility in the currency markets.
Tough times ahead for US dollar
Mike Gallagher, director of research at IDEAglobal in London, evaluates the outlook for the US dollar amid prospects for lower US growth and rates
FXMarketSpace regains lost ground
LONDON & CHICAGO – Average daily volumes on FXMarketSpace (FXMS) rose 102% from $539 million in July to reach $1.09 billion in August.
Barclays thrives on risky business
A bearish short-term view on risky assets has helped Barclays Capital top the one-month currency forecast rankings this week.
Parker FX Index dips 0.58% in July
STAMFORD, CT – The Parker FX Index was down 0.58% in July, with 36 indexed programmes reporting positive results and the remaining 45 incurring losses.
CME Group intensifies electronic forex trading
CHICAGO – Trading in seven foreign exchange and rates futures contracts will become fully electronic, as part of a reorganisation at the recently merged Chicago Mercantile Exchange and Chicago Board of Trade (CBOT) entity, CME Group.
GFT preys on vulnerable euro/yen
GFT has beaten the Royal Bank of Scotland and HSBC in this week's three-month forecast rankings, owing to a bearish view on EUR/JPY.
Carry-trade capitulation
When the market turmoil subsides, the yen will give up some of its 2007 gains in 2008 and will remain undervalued by past norms, says Gabriel de Kock, Citi's global currency economist in New York
Electronic brokers reach new highs
LONDON – Electronic brokers EBS and Reuters smashed records for trading volumes amid highly volatile global markets.
Carry view takes Lehman to the top
Expectation of an FX carry unwind helped Lehman Brothers to the top of this week's one-month currency forecast rankings, said Jim McCormick, head of FX research at the bank in London.
Capitalising with caps
Loïc Henry, head of Paris FX structuring at French Bank Calyon, suggests the introduction of caps when participating in spread options