Trading
Citi and Goldman break into retail FX
NEW YORK & COPENHAGEN - Citi and Goldman Sachs are breaking into the retail foreign exchange market by launching an online FX margin trading platform and buying a 10% stake in an online retail CFD company, respectively.
India to trade rupee futures
MUMBAI - The Reserve Bank of India (RBI) is preparing to introduce rupee futures to create more hedging tools in light of rising capital inflows.
Sterling effort from Lehman Brothers
A consistently bearish position on sterling has helped Lehman Brothers reach third place in FX Week 's one-month currency forecast this week.
BarCap strengthened by weak USD
A bearish USD view has helped Barclays Capital beat rivals Citi, Informa Capital Markets and HSBC in this week's one-month currency forecast rankings.
Retail sets the pace for future of forex
LONDON - The retail market is likely to set the standard for the future of foreign exchange, said panelists at the FX Week Europe conference last Tuesday.
FX algos no longer just for big players
LONDON - Gaining an edge in foreign exchange execution through trading algorithms is no longer the domain of just the largest forex dealers, according to a panel at the FX Week Europe congress last week.
How to prepare for reduced volatility
In the aftermath of credit-related market turmoil, Neil Mellor, currency strategist at The Bank of New York Mellon in London, suggests a way to prepare for a return to more historically typical levels of volatility
SWFs more likely than central banks to diversify FX assets
LONDON - Sovereign wealth funds are much more aggressive in diversifying foreign exchange assets than central banks, says Mansoor Mohi-uddin, the managing director of FX stategy at UBS.
UBS reign over, Citi back on top
LONDON - Citi has usurped UBS to take top spot in this year's FX Week Best Bank Awards, ending a four-year winning streak for its Swiss rival.
CBA's faith in Australian dollar rewarded
The Commonwealth Bank of Australia (CBA) has topped FX Week 's one-month currency forecast rankings by holding fast to a bullish AUD view.
Central banks: the gorillas of FX
Chris Turner, head of FX strategy research at ING wholesale banking in London, evaluates the possibility of FX sterilisation by central banks next year
FXMarketSpace trading slow in October
CHICAGO - Trading on FXMarketSpace continued to decline in October, with average daily volumes dropping 16% to $696 million, according to figures released by the platform last week.
Persistence pays off for BNP Paribas
BNP Paribas has topped the one-month forecast rankings by predicting a weak USD when other market participants were expecting a corrective rebound.
G-10 carry trades survive the crunch
Perhaps the biggest conviction Lehman held during this summer’s credit market shock was that the unfolding events would drastically alter the foreign exchange market. Most notably, we thought the carry-centric world that had dominated in recent years…
Reversal of fortunes for Parker FX
STAMFORD, CT – The Parker FX index reported a return of 1.40% in September, with managers benefiting from a declining greenback.
All eyes on Asia
Divyang Shah, chief strategist at the Commonwealth Bank of Australia in London, says Asian equities and commodity markets hold clues on the AUD/USD parity debate
Dresdner rises from dollar fall
Dresdner Kleinwort beat Bank of America and Barclays Capital to secure second place in FX Week’s one-month currency forecast rankings this week.
Calyon profits from euro position
Calyon has held its position in the top quarter of the 12-month FX Week currency forecast rankings with its strong euro view.
The value of a fall
The dollar might be in serious trouble, but its fall could also be its salvation, according to David Bloom and Paul Mackel of HSBC's FX strategy team in London
South Korean forex reaches record high
SEOUL - FX turnover hit a record high in South Korea in the third quarter.
IMF turns against the dollar
U-turn on USD value dashes hopes for G-7 statement on dollar weakness
Philippines to continue FX deregulation
MANILA - The Philippines central bank, Bangko Sentral ng Pilipinas (BSP), is set to liberalise the foreign exchange market at the end of October, said the bank's deputy governor, Diwa Guinigundo, last week. The central bank will lift documentary…
Deutsche dbFX now in Arabic
MANAMA - Deutsche Bank has launched an Arabic version of its margin trading platform dbFX, to capture the burgeoning retail foreign exchange market in the Middle East.