Trading
China bans pricing in offshore NDF market
BEIJING – Chinese officials last week banned local banks from quoting prices in the offshore non-deliverable forwards (NDF) market in an effort to boost trading onshore, said analysts.
Headwinds are set to hinder the rand
Razia Khan, senior economist at Standard Chartered in London says the fundamentals for the rand are not supportive despite a recent rally
China bans pricing in offshore NDF market
BEIJING – Chinese officials last week banned local banks from quoting prices in the offshore non-deliverable forwards (NDF) market in an effort to boost trading onshore, said analysts.
GFT adds seven new currency pairs; range now totals 64
ADA, MICHIGAN – Global Forex Trading (GFT) last week announced the addition of seven new currency pairs to its list of tradable currencies.
How to play gravity-defying USD/JPY
Peter Luxton, Global Markets Adviser and Shant Movsesian, Senior Options Analyst at Informa Global Markets advise taking dollar bulls into account when trading on potential weakness
Yen set to stage a comeback next year
The yen is to stage a comeback next year as fundamentals gain more precedence, predicts Adrian Schmidt, senior FX strategist at the Royal Bank of Scotland (RBS) in London.
Flextrade to launch block trading platform
NEW YORK – Trading technology vendor Flextrade plans to launch the first block FX trading platform for the sell-side and buy-side next month, FX Week has learned.
HUF makes a comeback
BUDAPEST – The Hungarian forint surged last week following positive market sentiment to a government announcement last Monday (October 9).
Managing exposure to forex volatility
Manuel Deijk in the structured FX team at UBS looks at a selection of quantitative methods applied in the implementation of FX risk management policies
Return to volatility brings relief for prop traders
GLOBAL – Last week saw the first significant market volatility for nearly two months as euro/dollar saw its first move out of a 1.26–1.28 trading range for over 50 days.
Real strength set to continue
Gray Newman, senior Latin American economist at Morgan Stanley in New York, says that the Brazilian unit will be supported by interest rates and continuing growth
Greenback sell-off fails to materialise
Bank of Montreal's (BMo) prediction for a big sell-off of the US dollar in 2006 has failed to materialise, said Jeff Cooper, BMo's vice-president of forex.
FX volume to exceed $3 trillion by 2007: TowerGroup research
NEEDHAM, MASSACHUSETTS – Global FX daily average volumes will reach $3.6 trillion by 2007, according to research released last week.
Flextrade to launch block trading platform
NEW YORK – Trading technology vendor Flextrade plans to launch the first block FX trading platform for the sell-side and buy-side next month, FX Week has learned.
Decoupling is key to Asian strength
Stephen Jen, head of currency research for Morgan Stanley, and Charles St-Arnaud, acting Asian currency strategist in London, say Asian currencies will strengthen once Asia decouples from the US
Missing links in Korea and Taiwan
Mirza Baig and James Malcolm, FX researchers at Deutsche Bank in Singapore, examine the relationship between the Korean won’s surplus and changes in the Taiwanese dollar
Diverging data muddies forecasts
Danske Bank’s chief strategist Teis Knuthsen, said the technical and fundamental models the bank integrates to forecast FX has recently turned up opposing data.
Black clouds over the greenback
David Woo, head of global FX strategy at Barclays Capital in London, looks at the threats to the US dollar from Chinese trade and a weak housing market
FXCM’s sentiment index pays off
Online trading firm FXCM has emerged in the top five for the 12-month year-to-date index by paying more credence to sentiment, volatilities and converging interest rates.
Bank of America adds to ETS
Bank of America is enhancing its suite of e-trading capabilities to include live options execution, improved pricing and risk management among other new features.
IB&T stays bullish on greenback
Investors Bank & Trust (IB&T) continues to go against consensus view by maintaining a bullish stance on the dollar. Market expectations for a decline in the dollar have been fuelled by further weak data from the US.
e-Mid opens to Turkey
ISTANBUL – Interbank deposit market e-Mid is to open to Turkish banks, in a bid to drive revenues and access more liquidity from this rapidly developing market.
Politics and the pound
There are parallels between Tony Blair’s current situation and the period around Margaret Thatcher’s demise when the pound crashed out of ERM, write Peter Luxton, global markets adviser, and Stuart Bennett, head of European economics at Informa Global…
First OTC rouble basket deal
LONDON – Interdealer broker GFI has completed the first interbank over-the-counter rouble basket trade. The six-month trade has a notional value of $100 million, with an at-the-money forward strike price of 29.70. The weighted ratio was 60% dollar, 40%…