France's Finance Minister Bruno Le Maire said on Friday the European Union should introduce a common set of rules to govern virtual currencies, which are at the moment mostly regulated at national level.
Here are some of the main factors that may affect Swiss stocks on Friday: MONETARY POLICY. Further easing by the European Central Bank on Thursday adds pressure on the Swiss National Bank to relax its already ultra-expansive policy based on a negative interest rate of -0.75% and currency market interventions to reduce upward pressure on the safe-haven Swiss franc. ALPIQ.
* Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh. * Risk-on sentiment weakens yen. * Euro regains composure after wild ride post-ECB. * Traders eye Fed, BOJ policy moves. By Stanley White.
A U.S. appeals court on Thursday upheld the conviction of a former HSBC Holdings Plc executive who was sentenced to two years in prison for defrauding Cairn Energy Plc in a $3.5 billion currency trade.
* Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh. * Risk-on sentiment weakens yen. * Euro regains composure after wild ride post-ECB. * Traders eye Fed, BOJ policy moves. By Stanley White. The yen was pinned near a six-week low versus the dollar as signs the United States and China were narrowing their differences over trade ahead of key talks decreased demand for safe haven assets.
The Canadian dollar weakened to
a six-day low against its U.S. counterpart on Thursday as oil
prices fell and investors grew skeptical about a potential
thawing of trade tensions between the United ...
* ECB announces fresh stimulus measures. * Euro STOXX 600 closes at highest July 29. * MSCI's world equity index touches highest since July 31. * Trade headlines whipsaw markets. By Chuck Mikolajczak.
The European Central Bank's decision Thursday to lower its key interest rate further below zero while relaunching an asset-purchase program means monetary policy in Europe is now even more stimulative than in the U.S. That prompted a strong response from President Trump, who complained in a tweet that the ECB is weakening the euro against the U.S. dollar and thus "hurting U.S. exports," while the Federal Reserve "sits, and sits, and sits." The Fed cut its benchmark rate by a quarter...
The euro gained against the
dollar on Thursday after the European Central Bank launched new
stimulus but failed to live up to some dovish market
expectations.
* ECB announces fresh stimulus measures. * Euro STOXX 600 closes at highest July 29. * MSCI's world equity index touches highest since July 31. * Trade headlines whipsaw markets. By Chuck Mikolajczak.
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