And Finally…

I am writing this from hotel quarantine as I have finally, at the sixth attempt, made it back to Australia after more than six months stranded abroad. All of which means this column will go one of two ways; happy-clappy or a purging of anger and frustration. I think I know my readership well enough, […]
Read More »

In the FICC of It

The podcast has a nice positive vibe to it this week as Colin Lambert is joined by Ayesa Latif, head of EMEA e-commerce FX sales at Citi to discuss the eighth annual “e-for-education” campaign by the bank, which kicks off this week. Latif explains how the campaign works, what channels are likely to generate the […]
Read More »

Is Inflation Now a Tree Falling in the Forest?

The highlight of next week, not counting a Monday holiday of course, will be the August readings of business and consumer inflation at the end of the week – indicators that were closely watched before the COVID crisis. But now, thanks to much more pressing issues this year, inflation was put on the back burner. […]
Read More »

US Employment Recovery Continues

The US August employment report showed continued payrolls improvement, though the size of those gains continues to slow and likely reflects the return of laid-off workers rather than new job creation. Likewise, the unemployment rate fell sharply in the month to 8.4% but remains more than twice the size of the pre-COVID rate of 3.5% […]
Read More »

US Initial Claims Fall on Technical Factors

US Initial claims fell by 130,000 in the August 29 week to a level of 881,000, well below the 958,000 level expected and the lowest since the pandemic began, however, the decline needs to be taken with a grain of salt due to technical issues. The Labor Department shifted to an additive seasonal factor from […]
Read More »

And Another Thing…

Someone recently challenged me on my assertion that the CLOB model is stagnant in the FX markets. I am glad they did as I love a good debate, but it became clear that either I had not been clear enough or my challenger had missed the point. I don’t think the CLOB model will disappear, […]
Read More »

Fed’s Williams: New Framework Strengthens Fed Hand

The Fed’s new policy framework targeting average inflation over time puts the central bank in a stronger position to meet its employment and inflation goals, New York Fed President John Williams said Wednesday. “The new framework statement directly and effectively addresses the problems caused by a low neutral rate and persistently low inflation,” Williams said […]
Read More »

US Manufacturing Conditions Improve Further in August

The August ISM index showed US manufacturing sector activity expanded further due to extraordinarily strong demand, but the sector is still laying off workers and some sectors have not fully recovered from the COVID slowdown. The headline PMI index rose to 56.0 from 54.2 in July, above expectations for a smaller increase to 54.7 and […]
Read More »

Simple, but Sophisticated: XTX Launches FX Execution Algo

It is an old saw in the FX industry that firms respond to customer demand and with algo usage on the increase for firms executing FX trades, inevitably eyes have turned to XTX Markets with the question, ‘will it also enter the market for algos?’ As one of the biggest FX market makers such questions […]
Read More »

Data Preview: August Payrolls, Hurricane Laura Top of Mind

The impact of Hurricane Laura, which ripped through the Gulf Region on Thursday and is carving its way up the middle of the US as we speak, will be felt in the weekly initial claims and rig count data next week and could also affect retail sales and other data released later in the month. […]
Read More »