Emerging Market Crisis Series

Reserve Bank independence: sobering lessons from India and South Africa

Sep 15, 2016 00:52 am UTC| Insights & Views Central Banks

Two BRICS member countries, India and South Africa, have recently experienced rather unedifying episodes related to the leadership of their central banks. Raghuram Rajan, the governor of the Reserve Bank of India, was...

Repatriating refugees is Kenya's only answer. But it needs help

Sep 15, 2016 00:21 am UTC| Insights & Views

Kenya shocked the world when it announced earlier this year that it would be closing the globes largest refugee camp, Dadaab. Citing economic, security and environmental reasons, Kenyas Ministry of Interior declared that...

FxWirePro: Short USD/BRL gamma via calendar spreads to address both RVs and IVs

Sep 14, 2016 13:05 pm UTC| Research & Analysis Insights & Views

Rare currencies where we do not mind earning the fat vols carry on offer is BRL. Front-end USDBRL vols have popped higher over the past two weeks alongside a bounce in thespot, and are once again packing in sizeable 4-5 %...

FxWirePro: EUR/CHF OTC reluctant to gain momentum, IVs least among G10 despite SNB’s monetary policy – Iron condors for speculating choice

Sep 14, 2016 12:41 pm UTC| Central Banks Insights & Views

FX OTC market has been reluctant for Swiss franc despite SNBs monetary policy tomorrow. Please be informed that the implied volatilities of EURCHF ATM contracts of all expiries have been the least among G10 currency...

BoE likely to stay pat at Thursday's meeting, minutes in focus for any changes to its easing bias

Sep 14, 2016 10:54 am UTC| Insights & Views Central Banks

After delivering a comprehensive package of policy easing measures in August, the Bank of England (BoE) is widely expected to stay pat at Thursdays meeting. Focus is likely to be on the wording in the minutes which are...

FxWirePro: Stay short in Sterling via “Diagonal Credit Put Spread” bidding neutral delta risk reversal ahead of BoE’s unlikely changes in OBR

Sep 14, 2016 08:04 am UTC| Research & Analysis Insights & Views Central Banks

In terms of sterlings currency markets, GBP crosses fell by around 1.14% yesterday versus the USD and euro but regained today slightly about 0.17%. Moves lower in the currency may be partly due to some caution/uncertainty...

FxWirePro: NZD/USD knock-out puts carry attractive risk reward ratio

Sep 14, 2016 07:08 am UTC| Research & Analysis Insights & Views

On technical grounds, we point out that last week NZDUSD has formed shooting star candlestick pattern at peaks of 16-months highs which is bearish in nature (at 0.7318 levels, see weekly chart). Diverging daily as well as...