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And Finally... Markets are busy but there’s not much happening market structure wise so let me take this opportunity to offer some consumer advice/life coaching to readers. If you work in foreign exchange, you are bound, at some stage, to be asked, “what do you think of the (fill in currency)?” You have two choices – either mumble something about it not going far (without defining “far”), or make a big, bold prediction (with no time horizon). In both cases, be prepared to blag it.
The Challenges of Managing Risk in Machine Driven Markets The increasing automation of the FX markets is changing how firms manage their risk, said speakers at the Profit & Loss Scandinavia conference in Stockholm in October 2018. Marian Micu, director of quantitative research at Qube Research and Technologies, highlighted the emphasis on new technology and automation in trading by pointing out that five years ago he had no machine learning specialists on his team and that now over half of them are machine learning traders or researchers. Micu went on to explain that in the past, news that was likely to impact prices in the market mainly came from scheduled announcements from sources like the European Central Bank (ECB) or the Federal Open Market Committee (FOMC), and that such announcements could be very well monitored and understood by a team of human traders and then integrated into the trading strategies.