DXY & Forex

Former Deutsche Bank trader Christian Bittar had his Euribor-rigging conviction overturned by London's Court of Appeal on Friday, October 9, marking a significant extension of reversals in the UK Serious Fraud Office's post-financial-crisis benchmark manipulation prosecutions. Bittar pleaded guilty in 2018 to conspiracy to defraud over attempts to manipulate the Euro Interbank Offered Rate and was sentenced to five years and four months in prison. The conviction was quashed because Bittar's guil

On Friday, October 9, London's Court of Appeal overturned the Euribor-rigging conviction of former Deutsche Bank trader Christian Bittar, who had pleaded guilty in 2018 and was sentenced to five years and four months in prison. Bittar is the first defendant in UK Libor and Euribor cases to have a co

The Federal Reserve's overnight reverse repurchase agreement (RRP) usage fell to $300 million with one counterparty on Friday, October 9, down from $335 million recorded the previous trading day.

On October 8, Nobel Prize-winning economist Paul Krugman warned that France's worsening public finances are on an "unsustainable path" and could trigger a debt crisis across the eurozone. In an article published the same day, Krugman stated that France's situation is concerning and poses a risk

On Friday, the yield spread between France and Italy's benchmark 10-year government bonds reached a record high of 30 basis points. Investors are now demanding higher compensation for holding French debt over Italian debt—a reversal from last year, when Italy was considered the higher-risk

South Korea's pension fund investment pool recorded a monthly return of -2.89% in July, marking its worst performance this year. The decline was driven by AI bubble concerns and rising US Treasury yields that triggered volatility across global financial markets. The year-to-date return fell

According to the Planning and Budget Ministry, Korea's pension fund investment pool posted a monthly return of -2.89% in July, marking the year's lowest performance. Year-to-date cumulative returns declined sharply from 8.09% in June to 4.97%, as most asset classes except money market funds and

Russia released September CPI figures showing month-over-month inflation of 0.35%, exceeding the forecast of 0.30%. Year-over-year CPI rose 6.35%, also surpassing the expected 6.30%. Core CPI increased 0.49% month-over-month and 5.47% year-over-year.

On Friday, October 9, in late European trading, the UK 10-year gilt yield declined 3.8 basis points to 5.442%, marking a weekly gain of 7.6 basis points after falling to 5.347% on October 6 and rising to 5.521% on October 8. The 2-year gilt yield fell 2.4 basis points to 4.890%, with a weekly gain o

US Treasury bond yields rose on the morning of October 9 (US Eastern Time), led by short-term maturities, creating a bear flattening pattern in the yield curve. The 10-year Treasury yield increased 1.00 basis point to 5.243% as of 8:55 AM, while the policy-sensitive 2-year yield climbed 3.20 basis p

According to Yonhap Infomax, on October 9 (U.S. Eastern Time), U.S. Treasury yields rose across the curve, with the 10-year yield up 1 basis point to 5.243% and the 2-year yield rising 3.20 basis points to 4.785%. The 10-2 spread narrowed to 45.8 basis points from 48 basis points the previous day, r

India's Finance Minister Nirmala Sitharaman met Singapore's Foreign Minister Vivian Balakrishnan in Singapore today to strengthen bilateral investment ties and explore economic cooperation in emerging technologies. The meeting aimed to enhance collaboration between the two nations, with

AvaTrade agreed to acquire the majority of FXCM Group's business and brand, announced Friday, October 9, as Jefferies Financial Group reduces its exposure to the brokerage it rescued more than a decade ago. The transaction accelerates the break-up of one of retail forex trading's longest-running bro

AvaTrade agreed on Friday, October 9 to acquire the majority of FXCM Group's business and brand as Jefferies Financial Group reduces its exposure to the forex brokerage it acquired in 2023. The transaction, announced three days after Trade Nation agreed to buy FXCM's UK client book, will transfer

According to New York Federal Reserve data, SOFR (Secured Overnight Financing Rate) fell to 3.87% on October 8, down from 3.88% the previous day. The effective federal funds rate remained flat at 3.88%.

According to the Financial Times, Germany announced on October 9 it will withdraw from competition for the next European Central Bank presidency and instead focus on retaining an Executive Board seat. German Finance Minister informed other eurozone counterparts Thursday that Berlin will soon

According to UBS economists, French fiscal concerns reflected in debt spreads versus German bonds have eased on October 9, as the French government and Marine Le Pen's National Rally respond to market pressure with stronger fiscal discipline. The deficit reduction target, while representing the gove

French and Italian government bond spreads are expected to narrow this week following a sharp rise in late September, as investors await further developments before demanding higher compensation for fiscal and political risks. The spread between French and German bonds, which jumped 34 basis

According to ING strategists, Italian government bonds led a rally in eurozone government debt spreads on Thursday (October 8), as the market responded to Prime Minister Giorgia Meloni's electoral reform securing a final parliamentary vote. The reform grants additional parliamentary seats to

According to KPMG economist Daniel Hyun, Canada's employment declined for a second consecutive month on September data, complicating the central bank's policy outlook. Despite the weak jobs data, KPMG still expects the Bank of Canada to raise rates by 25 basis points in December, citing persistent i