FX Update: Sterling turns defensive ahead of UK releases
First Published Friday, 10 July 2009 from Need to Know News
Cable pulled back in to 1.6350 vs. an intra-day peak of 1.6481, while EUR/GBP rallied out of its 0.8431 lows to trade back in to 0.8490.
Asian central bank offers were noted in early Europe and stopped a run up to 1.6500 and encouraged light selling from UK clearers and European interbank names.
The subsequent losses across European indices have also dampened speculative positioning, which forced GBP/JPY from 159.00 down to 157.50 after good size stops were flushed out below 158.00.
- SGX to offer Nifty options
The Singapore Exchange (SGX) has announced that it expects to offer options on the S&P CNX Nifty Index (Nifty) and related products in the coming year.
This follows SGX’s obtaining of licensing rights from India Index Services & Products Limited (IISL) for the product range including derivative contracts on the CNX Nifty Junior, CNX 100 and CNX Midcap indices....continued - UBS admits 69 ETCS to London Stock Exchange
The London Stock Exchange has announced that UBS has become a new issuer of Exchange Traded Commodities (ETCs) on its markets....continued
- Automated Trader Updates
Following the launch last week of Bloomberg Tradebook’s new MTRX algorithm, Bloomberg has this week introduced its correlation-weighted currency indices, a tool for measuring the strength of currencies....continued
- Bloomberg launches first correlation-weighted currency indices
Philip Brittan, global head of FX, Bloomberg: “We have constructed indices that use purely statistical measures to calculate weights, resulting in benchmarks that capture more variance than those constructed by other methods.” Bloomberg has launched the first family of correlation-weighted currency indices, a benchmark it believes offers a more accurate measure of the relative strength of currencies than traditional, trade-weighted benchmarks....continued
- Turquoise and EuroCCP launch trading and clearing services for Hungarian and Czech Republic Issues
EuroCCP and Turquoise have announced the expansion of their respective clearing and trading services into two additional markets, Hungary and the Czech Republic....continued
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