Trading
A capital adventure
Michael Spencer tells FX Week about how he turned Icap from a four-man business into a £3 billion FTSE 100-listed powerhouse in 20 years, and about his plans for EBS
Maintain a long Swiss franc exposure
Todd Elmer, currency strategist at Citigroup in New York, predicts an upturn in Swiss franc fortunes, and advises directional trades on EUR/CHF
Westpac benefits from dollar resilience
Westpac is joint top of the one-month rankings because it ‘held the line on the dollar in the summer months’.
Reset strike bonus forwards for a Korean win
David Mann, senior FX strategist, and Michael Image, senior FX structurer at Standard Chartered in Hong Kong, suggest reset strike bonus forwards over plain forwards to hedge Korean won downside risks
Strategists in demand
GLOBAL – Forex strategists are en vogue this month, with a number of hires at major banks in the US and Europe.
An eye for changing drivers aids Calyon success
Calyon has held on to top-five rankings in the 12-month and 12-month historical index since mid-July. Mitul Kotecha, global head of foreign exchange research at the French bank in London, pointed to three factors underpinning its success.
Reuters’ system failure disrupts FX trading
ASIA – Reuters suffered a temporary systems failure in its currency matching system Reuters Dealing 3000 Matching Host, causing disruption to trading in Asian hours last Friday. The outage acted as a firm reminder of the competitive landscape for…
Reuters’ system failure disrupts FX trading
ASIA – Reuters suffered a temporary systems failure in its currency matching system Reuters Dealing 3000 Matching Host, causing disruption to trading in Asian hours last Friday. The outage acted as a firm reminder of the competitive landscape for…
Hedging sterling/dollar is best option
Despite GBP/USD rising over 10% so far this year, Ian Stannard, senior currency strategist at BNP Paribas in London, says hedging still makes sense
Make or break for FX diplomacy
James Malcolm and Mirza Baig, FX stategists for Deutsche Bank in Singapore, look at the prospects for Chinese FX policy in light of a new US Treasury Secretary
Standard Chartered adds fair-value model for yen
TOKYO – Standard Chartered last week introduced a fair-value model for the yen to take into account the growing interest in the Japanese currency.
Summer doldrums leave markets range-bound
Forex traders have seen a host of factors hitting the market in the past month, according to Matthew Foster-Smith, senior currency strategist at Thomson in London.
Time for a kiwi revival
John Horner, FX strategist for Deutsche Bank in Sydney, points to reasons to be positive on the New Zealand dollar
GFT benefits from low-vol prediction
ADA, MICHIGAN – Online currency trading firm Global Forex Trading (GFT) has been by far the most consistently accurate forecaster for the three-month period this year. It has topped the three-month historical index every week since March 13. Its short…
Currenex adds precious metals
NEW YORK – Currenex is expanding its footprint into precious metals with the addition of gold and silver trading.
Anonymity does not always equal profitability
FXall has jumped on the anonymity bandwagon, and the Reuters/CME venture offers another way to access liquidity discretely. But whether these ventures will succeed is debatable.
Building long AUD/NZD positions with less risk
Besa Deda, Sydney-based currency strategist for the Commonwealth Bank of Australia, looks at how to gain long exposure to AUD/NZD amid high volatility
Automating FX – algorithmic trading in foreign exchange
Interest in algorithmic trading in FX is growing. John Bates, vice-president, Apama Products, Progress Software, discusses the advantages, and analyses the latest market innovations
Lloyds benefits from strong sterling
A view that sterling would soar against the US dollar saw LloydsTSB Financial Markets claim top spot in the one-month table, with a forecast for cable of 1.87 against an average prediction of 1.85.
Rouble hits seven-year peak against dollar
MOSCOW – The rouble hit its highest level against the US dollar for seven years last week, as the soaring price of oil boosted the Russian unit.
European banks up in Q2
EUROPE – European banks have followed the trend set by their US peers, releasing a strong set of second quarter results last week.
RBC wins on restrained dollar view
RBC Capital Markets came top of the one-month forecast table by refusing to get caught up in dollar hype.
The yen – a conflict of interests
Neil Parker, economist at Royal Bank of Scotland in London demystifies the 'black art' of predicting movements in the yen