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Fears of a leak have been dispelled, but as Colin Lambert reports, the mystery over why the Australian dollar is moving seconds ahead of major announcements is still puzzling.In the seconds leading up to the release of the Reserve ...

14:42 May 1st 2015 in Analysis, Markets

Market of the Month: CAD

As Profit & Loss was going to press, a rebound in the Canadian dollar was gathering momentum, buoyed by stronger oil prices, a weaker US dollar and a fairly optimistic tone from the Bank of Canada. This marks a reversal in ...

19:50 September 1st 2013 in Analysis, Markets

The Dollar is Turning Stronger

By Jens Nordvig, Ankit Sahni, and David Fritz, Nomura  The Case for Dollar Strength Our medium-term view on the dollar is clear. We expect broad-based USD gains on a medium term basis. Both structural and cyclical factors point to currency ...

19:36 September 1st 2013 in Analysis, Markets

SEF Applications Build Up

As the Commodity Futures Trading Commission (CFTC) deadline for Swap Execution Facility (SEF) trading in OTC derivatives nears, the race to apply for SEF status resembles the recent rush to exit emerging market risk – everyone appears to be trying to ...
Georges Bory, managing director and co-founder of Quartet FS argues for a change in how we handle market risk.  It is well-documented that the financial crisis prompted a review of risk management across the banking sector. Whether due to new ...

19:03 September 1st 2013 in Analysis, Markets

Yen the Star as FX Volumes Soar

Colin Lambert reports on the latest series of FX turnover surveys, which offer some food for thought.  The return of volatility to the Japanese yen has helped drive a surge in turnover in the major FX centres, according to data ...
By Patrick Artus, Chief Economist, Natixis  Given the vast improvement of the US economy over the past year, many analysts are surprised that the depreciation of the euro against the dollar hasn’t been more prevalent, particularly when you compare ...
One of the enigmas of the era that has witnessed such strong growth in e-trading has been the relative lack of uptake in FX swaps. The most recent semi annual turnover surveys in the UK had over 66% of spot business ...
Over the last 10 years, the global foreign exchange market has seen volumes grow at pace, with average daily trading volume reaching an estimated $4.68 trillion by the end of last year, contributed to in part by a spike in retail FX ...

16:44 July 1st 2013 in Analysis, Markets

Pre-Trade Checking Advances

Two initiatives are underway to tackle the thorny issue of pre-trade credit checking in OTC derivatives.  Bank of America Merrill Lynch, Citi and Goldman Sachs have signed up as futures commission merchants (FCMs) to use MarkitServ’s Credit Centre, a ...