Market Pulse - Currencies
Second round of US tariffs against China go into effect
America ramped-up its trade war with China overnight, with a second round of 25% tariffs, this time on $16bn-worth of Chinese products, having kicked into effect at the stroke of midnight.
FX round-up: Dollar little changed despite Fed minutes, Russian rouble weaker
The major currency pairs were little changed as of Thursday evening, despite the release of the latest set of US central bank policy minutes which appeared to open the door to a pause in monetary policy tightening following a widely-anticipated hike in September, should there be a "major" escalation in trade tensions.
Trump in hot water as Cohen threatens to share 'information' of Russia meddling in election
Two members of US President Donald Trump’s inner circle have been found guilty of criminal offences, leaving the President in a tight spot as one of the lawyers said his client would be happy to share his knowledge on a possible Russian interference with the presidential election in 2016.
FX round-up: US president says China, Europe manipulating their currencies
Accusations from the US President that China and Europe were manipulating their currencies are weighing on the value of the US dollar in early afternoon trading on Tuesday, at least against that of the currencies of its major trading partners.
S&P downgrades Turkey's long-term debt from 'BB+' to 'B-'
Standard&Poor's downgraded the rating on Turkey's long-term sovereign debt on Friday on the back of the "extreme" volatility in the value of its currency over the past two weeks, which was expected to result in an economic recession in 2019 even as it leads to a "considerable increase" in funding risks for the country's lenders.
FX round-up: Chinese yuan, Turkish lira steady against US dollar
Sterling edged higher on Thursday, joining in the more steady tone to risk appetite in markets generally.
FX round-up: Turkish lira extends rally, yuan slide continues
Sterling edged lower again on Tuesday, in another session dominated by jitters around the situation in Turkey and ongoing doubts about whether other Emerging Markets would be caught in the fallout.
Qatar pledges $15bn 'direct investment' in Turkey
Qatar has promised to invest $15bn in Turkey, following an agreement between heads of state in Ankara on Wednesday.
Sector movers: Miners hit again as traders wait for other shoe to drop in EM
The roof is caving in on miners again on Tuesday, amid fears that the recent rout in Turkish assets presages weakness in other emerging market economies.
Indonesian central bank surprises with rate hike as rupiah nears five-year low
Indonesia's central bank surprised market watchers on Wednesday, hiking its main policy rate unexpectedly, despite what some economists said was a backdrop of continued weak economic growth and subdued inflation.
Cryptocurrencies tumble as 'panic' motivated sell-off continues
Bitcoin’s value dipped below $6,000 on Tuesday while other cryptocurrencies such as Ethereum continued to sink amid a continued sell-off in digital currencies.
Tory Brexiteers challenge PM and lay out no-deal Brexit blueprint
Hardline Tory Brexiteers are to challenge Prime Minister Theresa May by publishing a positive blueprint for a no-deal Brexit and abandoning all support for May’s Chequers proposal, introduced last month.
Chinese economic data for July prints well below forecasts
A raft of economic indicators released overnight in China printed below forecasts, pointing to sustained weakness in growth in the Asian giant until mid-2019, economists said.
Turkish lira rebounds but strong dollar still a threat for emerging markets
Turkey's lira bounced back on Tuesday morning but after jitters spread to India, Argentina and South Africa analysts warned that emerging markets would continue to be tested by the strong dollar.
Bonds: Signs of contagion in Italian debt?
These were the movements in some of the mos widely-followed 10-year sovereign bond yields on Monday:.
FX round-up: US dollar eases back after early surge to fresh 52-week high
Sterling is off its lows of the session, with traders wary of extending themselves too much, lest recent US dollar strength suddenly unwind.
Chinese PBoC shifts stance in July, leans on lenders
China's central bank shifted its stance last month, leaning on the country's lenders to increase their loan volumes as Beijing seeks to offset weaker growth and the impact from frictions with its largest trading partners.
Europe close: Stocks reel as Turkish lira sells off, euro drops
Stocks finished sharply lower on Friday as the rout in Turkey's currency, the lira, extended further, although - for the moment at least - some analysts believed the implications for global capital markets should be limited.
Turkey's Erdogan entrusts country to divine providence amid currency rout
Turkey's President did not deliver any policy-relevant remarks on Friday, instead invoking God, telling an audience at a public rally he wanted to put their well-being in the Creator's hands.
Russia threatens to ban rocket engine supply to US in response to sanctions
Russia has threatened to restrict the sales of rocket engines to the United States in response to sanctions over a former Russian agent’s poisoning in the UK in March.