Tag: Currency

Currency

CTA Index Down for June; But Currency Managers Show Gains

The flash estimate for the Barclay CTA Index, compiled by BarclayHedge, indicates a 0.05% loss in June. Year to date, the index is down 2.00%.

“Trade war concerns sparked by economic sabre rattling shook grain markets, while US pressure on its allies to boycott Iranian oil rallied energy prices to new highs on the year,” says Sol Waksman, founder and president of BarclayHedge.

Agricultural traders were down 0.59% in June, the Discretionary Traders Index lost 0.59%, and Diversified Traders gave up 0.21%.

CTAs Down in May, Despite Currency Gains

The flash estimate for the Barclay CTA Index, compiled by BarclayHedge, indicates a 0.24% loss in May, although currency traders gained 0.88% last month. Year-to-date, the Barclay CTA Index is down 1.76%.

“Large systematic traders were the hardest hit by trend reversals in fixed income, energy, sugar and cocoa prices,” says Sol Waksman, founder and president of BarclayHedge.

The new MPI Barclay Elite Systematic Traders Index (MBEST) lost 1.85% in May, diversified traders were down 0.64%, financials and metals traders lost 0.44%, and systematic traders gave up 0.44%.

Wells Fargo Joins CLS as Settlement Member

CLS Group has announced that Wells Fargo has joined as a settlement member. Wells Fargo joins 64 other settlement member banks in becoming a direct participant in CLS’s settlement and risk mitigation system – which settles approximately $5 trillion a day on behalf of its clients. In a release issued today CLS claims that Wells […]

Asian Corporates Cite FX as Biggest Financial Risk Concern

Asian corporates and CFOs cited FX risk as the financial risk that they are most concerned about, according to a new survey from Thomson Reuters and Asset Benchmark Research. In the report accompanying the research results, it notes that as basic management processes are increasingly automated, corporate treasurers and CFOs have become more focused on […]

BoE Expects Monetary Policy Easing in Summer: Carney

The Bank of England (BoE) is expecting that some “monetary policy easing will likely be required over the summer” as the “economic outlook has deteriorated” on the back of the UK voting to leave the EU, the BoE governor Mark Carney said in a speech today at the Bank. In addition, “in order to support […]

Non-Bank LPs Prove Their Worth During Brexit Volatility

Following the results of the UK referendum decision to leave the European Union last week the common consensus amongst FX market participants has been that the biggest surprise – apart from the result itself – was how well the FX market handled the resultant volatility. “Two months ago if you’d told me that we’d have […]

TradAir Inks Deal with Singapore-Based Firm

TradAir, a front office technology provider, has signed a contract to supply UOB Bullion and Futures (UOBBF) with its platform for trading leveraged FX, non-deliverable forwards and precious metals. UOBBF is the Singapore-based brokerage arm of United Overseas Bank Limited. “The platform provides UOBBF’s clients with access to deep levels of FX liquidity, sourced from […]

Mexican Peso May Lag Peers: Survey

The Mexican peso is expected to underperform most of its peers in the emerging markets, according to a survey of FX corporate and sales executives, traders and strategists attending Bloomberg’s FX16 Symposium found. Out of more than 120 respondents, some 57% said that “the peso (MXN) will continue to lag against its emerging market counterparts […]

TradAir Inks Deal with Singapore-Based Firm

TradAir, a front office technology provider, has signed a contract to supply UOB Bullion and Futures (UOBBF) with its platform for trading leveraged FX, non-deliverable forwards and precious metals.   UOBBF is the Singapore-based brokerage arm of United Overseas Bank Limited.   “The platform provides UOBBF’s clients with access to deep levels of FX liquidity, […]