Yuan Rally Bets Fade as Options Traders Turn Bullish on Dollar
Bullish bets on the Chinese yuan are fading, with options traders unwinding one of the year’s most crowded trades after the Federal Reserve’s hawkish pivot.
Iran War Delivers Massive Swings in Chinese Petrochemicals Trade
The war in Iran has rewired China’s petrochemicals trade, allowing plants to ease their glut of the key building blocks for plastics, rubber and textiles by boosting exports.
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Bitcoin ETFs were supposed to make selloffs less painful. That theory is being put to the test.
Crypto investors had hoped that increased institutional adoption and a crypto-friendly administration could help the largest cryptocurrency avoid the painful cycles it once experienced.
Philippine Church Group Continues Protests, Disrupting Manila
An influential religious group continued its protest for a second day on Wednesday in support of a senator allied with Vice President Sara Duterte, again slowing traffic in Manila’s main highway.
Japan Nears Longest Postwar Growth Even as Households Struggle
Japan is close to notching its longest economic growth streak since WWII, as the nation weathers higher oil prices from the war in Iran and the central bank’s ongoing quest to normalize interest rates.
Yen’s Slide Puts Market on Lookout for Japan’s Next Red Line
The yen’s slide to its weakest against the dollar in four decades has left traders looking for Japan’s next line in the sand for the currency.
ECB’s Wunsch Says Case for Another Rate Hike Not as Strong Now
The case for the European Central Bank to raise interest rates for a second time isn’t as clear as it was, according to Governing Council member Pierre Wunsch.
ECB Says Extent of Inflation Shock ‘Remains to Be Seen’
European Central Bank Governing Council member Olaf Sleijpen says the full extent of the inflation shock from the Iran war isn’t yet clear and that policymakers will act accordingly as data arrive. He made the comments during an interview with Bloomberg’s Francine Lacqua at the ECB Forum on Central Banking in Sintra, Portugal. (Source: Bloomberg)
Emirates NBD Said to Be in Talks to Acquire HSBC’s Turkey Unit
Emirates NBD PJSC is in talks to buy HSBC Holdings Plc’s Turkey operations, according to people familiar with the matter.