British Pound Outlook: GBP/USD Clears May Low Ahead of BoE
The Bank of England (BoE) interest rate decision may do little to sway GBP/USD as the central bank is widely expected to retain the current course for monetary policy.
GBP/USD IG Client Sentiment: Our data shows traders are now at their most net-long GBP/USD since Apr 12 when GBP/USD traded near 1.37.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/USD-bearish contrarian trading bias.
Wall Street IG Client Sentiment: Our data shows traders are now at their most net-long Wall Street since Oct 30 when Wall Street traded near 26,509.50.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Wall Street-bearish contrarian trading bias.
LIBOR contracts may vex banks with benchmark retirement looming
Banks may need to invest significant sums to bolster their regulatory risk operations or face heightened legal scrutiny, given the volume of contracts still referencing the Libor benchmark that’s due to retire at the end of 2021 (and June 30, 2023 for dollar-denominated Libor).
Developed Asian banks well-positioned to evolve amid LIBOR’s end
Driven by regulation, banks in Japan, Hong Kong, Singapore and Australia are better prepared to move from the London Interbank Offered Rate (LIBOR) by year-end (and for some U.S. dollar settings, June 30, 2023) than their peers in emerging markets that remain in a policy vacuum.
FTSE 100 Technical Analysis: Caught Between Support & Resistance
The FTSE is turning lower off resistance, but is quickly testing trend support that could determine how events play out in near-term.
Regulatory risk lurks in LIBOR’s demise as transition date nears
Banks and asset managers shouldn’t be fooled that the transition away from LIBOR is a small legal and compliance task, in spite of dollar-denominated extensions.
EUR/JPY IG Client Sentiment: Our data shows traders are now net-long EUR/JPY for the first time since Mar 10, 2021 when EUR/JPY traded near 129.31.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/JPY-bearish contrarian trading bias.
CEO Spotlight: Reuben Lai, the man leading the push to connect Southeast Asia’s underbanked
Since 2016, Grab, Southeast Asia’s leading superapp, has continuously delivered digital payment enhancements to its consumers so they could pay more conveniently and cashlessly for a growing list of services offered.
Prepare for pandemic-related inflation surprises in economic data
Economic data releases will take unexpected turns this year given the extremes in year-on-year comparisons.