The European Commission has reportedly proposed tariffs of 25 percent on imports of U.S. steel, clothing and other industrial goods in retaliation to President Donald Trump’s proposed tariffs on steel and aluminum.The executive arm of the European Union reportedly plans to target $3.5 billion of goods imported from the U.S., including T-shirts, whisky, motorcycles and ladders, if Trump decides to implement international duties on steel and aluminum.The list of goods was revealed in a report by Bloomberg on Tuesday, which cited a draft list drawn up by the commission. According to the report, the commission discussed the retaliatory levy on U.S. goods with representatives of EU governments on Monday evening
Showing posts with label EUR/USD. Show all posts
Showing posts with label EUR/USD. Show all posts
Investopedia: Trump Faces Pushback on Tariffs but Says He Will Not Back Down
Inside the White House, there still appeared to be confusion about the timing and extent of the planned tariffs, which would hit allies like Canada and Mexico hard.
Efforts by Trump and U.S. trade negotiators to link the NAFTA trade pact talks to the duties received short shrift from Ottawa and Mexico City.
Leading Republicans turned up the pressure on Trump, with House of Representatives Speaker Paul Ryan leading the charge. Ryan's home state of Wisconsin would be hit by proposed European counter-measures on Harley-Davidson Inc motorbikes.
Representative Kevin Brady, another top House Republican, called on Trump not to hit America's closest allies.
Business leaders are pressing for a meeting with Trump to brief him on the negative repercussions of the tariffs on companies that use steel and aluminum, a source familiar with the matter said.
A meeting had not yet been set up, the source said. The White House had no comment.
The planned tariffs have roiled world stock markets as investors worried about the prospect of an escalating trade war that would derail global economic growth. Stocks across the globe rose on Monday, however, after four days in decline as investors saw the tariff threats as a U.S. negotiating tactic and not a done deal and as pressure grew on Trump to back off.
"We're not backing down," Trump said during a White House meeting with Israeli Prime Minister Benjamin Netanyahu. "I don't think you're going to have a trade war," he added, without elaborating.
Canadian Prime Minister Justin Trudeau called Trump on Monday to tell him the tariffs would be an impediment to talks on updating NAFTA, a Canadian government official said.
Canada is the single largest supplier of steel and aluminum to the United States. In the call, Trudeau "forcefully defended" Canadian workers and industries, said the official, describing the conversation as constructive.
Earlier comments from Trump had stoked talk of a global trade war as he described them as easy to win and issued a threat to German carmakers. One of those, BMW, runs a plant in the United States that is the largest single autos exporter in the country and has created thousands of jobs.
Most responses to Trump's proposed tariffs have been targeted. The European Union said it would hit Harleys, bourbon and jeans, iconic American products. It did not threaten to ramp up the issue.
China has been largely mum, urging caution, and both Canada and Mexico have stressed the targeted nature of any response.
STRESSES INSIDE THE WHITE HOUSE?
Trump was expected to finalize the planned tariffs later in the week, although some observers familiar with the process said it could occur next week. The initial announcement by Trump last week came as a surprise.
The United States, Mexico and Canada have been holding talks over changes to the North American Free Trade Agreement, a pact that Trump has threatened to abandon.
Six months of tense talks have produced little in the way of progress and a move by Washington to link the steel and aluminum tariffs to progress on NAFTA was rebuffed by Canada and Mexico.
U.S. Trade Representative Robert Lighthizer also attempted to drive a wedge between Canada and Mexico when he suggested the United States would be willing to hold bilateral, rather than trilateral talks. The two countries again stood firm.
In Washington, aides scrambled to meet Trump’s demand for the paperwork to be completed for a formal announcement. The exact timing was unclear as the tariff documentation had to be drafted and go through a variety of reviews, a process that takes days, an administration official said.
There was always a chance that Trump ”could amend his initial announcement” to take account of the concerns expressed about it, said a source familiar with the internal debate at the White House.
TRUMP'S TRADE TRAIL
Trump has frequently talked tough on trade, although his actions have not always matched his words. On his first day in office in January 2017, he withdrew from the 14-nation Trans Pacific Partnership agreement, a deal that was dead on arrival in the U.S. Congress in any case.
He has frequently tweeted and said that he would pull out of NAFTA, which he has called a jobs killer. But a year after taking office, the 1994 deal remains intact.
Trump has approved a series of small-scale trade actions, of which the steel and aluminum duties would be a part. Taken together with actions on washing machines and solar panels, the proposed move accounts for just 4.1 percent of U.S. imports. In terms of global trade, they are just 0.6 percent, investment bank Morgan Stanley said in a report.
The head of the World Trade Organization warned of a real risk of triggering an escalation of global trade barriers and a deep recession, even as financial markets and many economists started to discount the risk of a global crisis.
"We must make every effort to avoid the fall of the first dominoes. There is still time," WTO Director General Roberto Azevedo told the heads of WTO delegations at a closed-door meeting in Geneva.
(Additional reporting by Susan Heavey, Steve Holland, Eric Walsh and Susan Heavey in Washington, Adriana Barrera, Sharay Angulo, Lesley Wroughton and David Ljunggren in Mexico City, Rodrigo Campos in New York and Tom Miles in Geneva; Writing by Frances Kerry and David Chance; Editing by Andrea Ricci and Peter Cooney)
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DailyFX: EUR/USD Weekly Technical Forecast: Euro May Be in Trouble After Bounce
Source: DailyFX
By: Paul Robinson, Market Analyst
EUR/USD Highlights:
EUR/USD found buyers late last week, but the bounce may result in a lower-high
A lower-high could be quite important after double-topping at the 2008 trend-line
Event risk comes by way of ECB meeting on Thursday, NFPs on Friday
To view the longer-term technical and fundamental outlook for the Euro, or to see our Top Trading Opportunities for 2018, check out the DailyFX Trading Guides.
EUR/USD is coming perilously close to carving out a bearish price sequence in the days ahead. We’ve been discussing quite a bit lately the impact of the 2008 trend-line, and as long as the euro stays below it will struggle. The struggle could turn into an outright sell-off if a bounce soon fails.
The double-top at the 2008 trend-line put into motion the notion we may be seeing a top form at an important line of resistance. And now with EUR/USD possibly putting in a lower-low from earlier last month, in the days ahead the euro may be ready to turn down from the long-term trend-line for an extended period of time.
The trend since last year is still pointed up, but a strong turn down will have important support by way of the 2017 high and trend-line from April come under fire. A solid close below 12100 is seen as a possible catalyst for a sizable unwind by large speculators in the futures market. Positioning has been hovering in record territory for a while and suggests on a turn of trend there will be plenty of fuel to drive the single-currency lower.
Looking at retail positioning, traders are net short EUR/USD (IGCS index is at -1.8), which on a contrarian basis is a bullish signal with sellers out pacing buyers by nearly 2 to 1, but should sellers show up in earnest that could quickly change in favor of lower prices as traders flips long. It’s worth keeping an eye on. Check out the IG Client Sentiment page for further details.
In terms of event risk next week, a rise in volatility could result from the ECB on Thursday and/or the U.S. jobs report on Friday. For estimates and release times, check out the economic calendar.
Whether you are a new trader building a foundation or an experienced trader struggling (it happens to the best), here are some ideas for Building Confidence in Trading
Resources for Forex Traders
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FXEmpire: Flight-to-Safety Buying Crushes USD/JPY
Source: FXEmpire.com
By: James Hyerczyk
The Yen also rallied after Bank of Japan Governor Haruhiko Kuroda surprised currency markets by saying the central bank would consider an exit from its ultra-easy monetary policy if it met its inflation target in the year ending in March 2020.
The U.S. Dollar finished higher against a basket of currencies in a week highlighted by a couple of major events that led to increased volatility. The first event helped drive the index to its highest level since January 12. The second event helped stop the rally while erasing most of the market’s earlier gains.
March U.S. Dollar Index futures settled the week at 89.906, up 0.098 or 0.11%.
By: James Hyerczyk
The Yen also rallied after Bank of Japan Governor Haruhiko Kuroda surprised currency markets by saying the central bank would consider an exit from its ultra-easy monetary policy if it met its inflation target in the year ending in March 2020.
The U.S. Dollar finished higher against a basket of currencies in a week highlighted by a couple of major events that led to increased volatility. The first event helped drive the index to its highest level since January 12. The second event helped stop the rally while erasing most of the market’s earlier gains.
March U.S. Dollar Index futures settled the week at 89.906, up 0.098 or 0.11%.
Day Trader
What is Forex Day Trading?
One of the most popular ways of participating in the financial markets of the world is through a discipline known as day trading. Day trading is the active buying and selling of financial instruments within short-term, intraday time frames.
In contrast to more traditional forms of capital investment, day trading aims to achieve profitability through frequently entering and exiting a market. Instead of buying or selling a security and waiting weeks or months for capital appreciation, day traders take many small gains and losses every day in the quest for a positive bottom line.
The main goal of day trading is simple: achieve long-term profitability through executing as many winning trades as possible. To put it another way: the primary objective of a day trader is to ensure that profit outweighs loss and victories are always greater than defeats.
Elements Of Day Trading
There are three major facets of short-term trading that must be thoroughly addressed within the context of a comprehensive trading plan before an individual starts the process:
Trade selection: Depending on each trader’s adopted methodology or system, concrete guidelines governing the identification of a trading opportunity may be necessary. Ideally, trade selection is driven by a statistically verifiable “edge,” or positive expectation. Predefined criteria pertaining to trade setups enable the trader to enter the market consistently and with confidence.
Trade management: Upon entrance to the market, management of the newly opened position becomes a task crucial to the trader. The employment of protective stop-loss orders, in addition to profit targets, are basic methods of preserving capital while maximising the potential for gain. Trailing stops and proactively scaling in and out of positions are more complex examples of market exit strategies.
Money management: A comprehensive money management strategy is an absolute necessity when trading on an intraday basis. The proper use of leverage is a key part of determining the correct position size and aligning risk vs. reward. Through administering sound money management principles, a trader can avoid the many problems related to a dwindling account balance.
Intermediate-term trading, swing trading and long-term capital investment implement the use of a time horizon measured in days, weeks, months and years. Active day trading is concerned with time denominations of hours, minutes and seconds.
There is rarely ample time to craft quality trading decisions on the fly. Without first performing the necessary due diligence regarding the three key areas of day trading, an individual new to the market is likely to fall victim to many avoidable dangers.
Day Trading The Forex Market
Perhaps the most appealing venue for an aspiring day trader is the forex market. The forex market is an over-the-counter (OTC) market specialising in the trade of global currencies. The average daily traded volume measures anywhere from US$3.5 trillion to US$5.5 trillion. In comparison, the average daily traded volume for the New York Stock Exchange (NYSE) typically trades between a value of US$30 billion and US$100 billion.1)
Short-term currency trading on the forex market affords participants several distinct advantages:
Variety: In addition to pairs based upon the eight global “major” currencies, many smaller, regional currency pairings are also available for trade.
Liquidity: The daily volume of trade is enormous. Large volumes ensure that a trader can interact with the market efficiently.
Leverage: Forex currency pairings are traded heavily on margin. In forex, leverage is used to either buy or sell large quantities of currency.
Opportunity: The forex market is open for trading 24 hours a day, five days a week. Extensive trading sessions produce a greater number of trading opportunities, no matter the currency pair or approach.
Summary
The forex market is often viewed as a day trader’s dream. Frequent opportunity coupled with the availability of financial leverage are attractive characteristics to anyone interested in pursuing a career as a professional day trader.
However, common pitfalls such as overtrading and the improper use of leverage can lead to substantial capital loss. Although the development of a comprehensive trading plan can help mitigate these issues, short-term trading remains a formidable challenge not suitable for everyone.
Additional Reading
Sources: FXCM
Reference: Retrieved 16 November 2016 http://www.nyxdata.com/nysedata/asp/factbook/viewer_edition.asp?mode=tables&key=320&category=3
One of the most popular ways of participating in the financial markets of the world is through a discipline known as day trading. Day trading is the active buying and selling of financial instruments within short-term, intraday time frames.
In contrast to more traditional forms of capital investment, day trading aims to achieve profitability through frequently entering and exiting a market. Instead of buying or selling a security and waiting weeks or months for capital appreciation, day traders take many small gains and losses every day in the quest for a positive bottom line.
The main goal of day trading is simple: achieve long-term profitability through executing as many winning trades as possible. To put it another way: the primary objective of a day trader is to ensure that profit outweighs loss and victories are always greater than defeats.
Elements Of Day Trading
There are three major facets of short-term trading that must be thoroughly addressed within the context of a comprehensive trading plan before an individual starts the process:
Trade selection: Depending on each trader’s adopted methodology or system, concrete guidelines governing the identification of a trading opportunity may be necessary. Ideally, trade selection is driven by a statistically verifiable “edge,” or positive expectation. Predefined criteria pertaining to trade setups enable the trader to enter the market consistently and with confidence.
Trade management: Upon entrance to the market, management of the newly opened position becomes a task crucial to the trader. The employment of protective stop-loss orders, in addition to profit targets, are basic methods of preserving capital while maximising the potential for gain. Trailing stops and proactively scaling in and out of positions are more complex examples of market exit strategies.
Money management: A comprehensive money management strategy is an absolute necessity when trading on an intraday basis. The proper use of leverage is a key part of determining the correct position size and aligning risk vs. reward. Through administering sound money management principles, a trader can avoid the many problems related to a dwindling account balance.
Intermediate-term trading, swing trading and long-term capital investment implement the use of a time horizon measured in days, weeks, months and years. Active day trading is concerned with time denominations of hours, minutes and seconds.
There is rarely ample time to craft quality trading decisions on the fly. Without first performing the necessary due diligence regarding the three key areas of day trading, an individual new to the market is likely to fall victim to many avoidable dangers.
Day Trading The Forex Market
Perhaps the most appealing venue for an aspiring day trader is the forex market. The forex market is an over-the-counter (OTC) market specialising in the trade of global currencies. The average daily traded volume measures anywhere from US$3.5 trillion to US$5.5 trillion. In comparison, the average daily traded volume for the New York Stock Exchange (NYSE) typically trades between a value of US$30 billion and US$100 billion.1)
Short-term currency trading on the forex market affords participants several distinct advantages:
Variety: In addition to pairs based upon the eight global “major” currencies, many smaller, regional currency pairings are also available for trade.
Liquidity: The daily volume of trade is enormous. Large volumes ensure that a trader can interact with the market efficiently.
Leverage: Forex currency pairings are traded heavily on margin. In forex, leverage is used to either buy or sell large quantities of currency.
Opportunity: The forex market is open for trading 24 hours a day, five days a week. Extensive trading sessions produce a greater number of trading opportunities, no matter the currency pair or approach.
Summary
The forex market is often viewed as a day trader’s dream. Frequent opportunity coupled with the availability of financial leverage are attractive characteristics to anyone interested in pursuing a career as a professional day trader.
However, common pitfalls such as overtrading and the improper use of leverage can lead to substantial capital loss. Although the development of a comprehensive trading plan can help mitigate these issues, short-term trading remains a formidable challenge not suitable for everyone.
Additional Reading
- How To Become A Day Trader
- Can You Day Trade For A Living?
- Day Trading Equipment For Beginners
Sources: FXCM
Reference: Retrieved 16 November 2016 http://www.nyxdata.com/nysedata/asp/factbook/viewer_edition.asp?mode=tables&key=320&category=3
Scalpers
Source and read more: Investopedia: Is scalping a viable forex trading strategy?
What is Forex Scalpers
Scalping in the forex market involves trading currencies based on a set of real-time analysis. The purpose of scalping is to make a profit by buying or selling currencies and holding the position for a very short time and closing it for a small profit. Many trades are placed throughout the trading day and the system that is used by these traders is usually based on a set of signals derived from technical analysis charting tools, and is made up of a multitude of signals, that create a buy or sell decision when they point in the same direction. A forex scalper looks for a large number of trades for a small profit each time.
Forex Scalping System
A forex scalping system can be either manual, where the trader looks for signals and interprets whether to buy or sell; or automated, where the trader "teaches" the software what signals to look for and how to interpret them. The timely nature of technical analysis makes real-time charts the tool of choice for forex scalpers.
Forex Scalper
The forex market is large and liquid; it is thought that technical analysis is a viable strategy for trading in this market. It can also be assumed that scalping might be a viable strategy for the retail forex trader. It is important to note though, that the forex scalper usually requires a larger deposit, to be able to handle the amount leverage they must take on to make the short and small trades worthwhile
What is Forex Scalpers
Scalping in the forex market involves trading currencies based on a set of real-time analysis. The purpose of scalping is to make a profit by buying or selling currencies and holding the position for a very short time and closing it for a small profit. Many trades are placed throughout the trading day and the system that is used by these traders is usually based on a set of signals derived from technical analysis charting tools, and is made up of a multitude of signals, that create a buy or sell decision when they point in the same direction. A forex scalper looks for a large number of trades for a small profit each time.
Forex Scalping System
A forex scalping system can be either manual, where the trader looks for signals and interprets whether to buy or sell; or automated, where the trader "teaches" the software what signals to look for and how to interpret them. The timely nature of technical analysis makes real-time charts the tool of choice for forex scalpers.
Forex Scalper
The forex market is large and liquid; it is thought that technical analysis is a viable strategy for trading in this market. It can also be assumed that scalping might be a viable strategy for the retail forex trader. It is important to note though, that the forex scalper usually requires a larger deposit, to be able to handle the amount leverage they must take on to make the short and small trades worthwhile
Italian General Election
The 2018 Italian general election is due to be held on March 4, 2018.
Voters will elect the 630 members of the Chamber of Deputies and the 315
elective members of the Senate of the Republic for the 18th legislature
of the Italian Republic.
Country: Italy
Currency: EUR
Significance: Bullish
Country: Italy
Currency: EUR
Significance: Bullish
FOREX-Dollar touches five-week high on U.S. rate outlook
Source: https://finance.yahoo.com/news/forex-dollar-touches-five-week-155031940.html
* Fed chair's testimony read as striking hawkish tone * Weaker-than-expected U.S. data fails to tarnish dollar * Euro zone inflation slows, clipping euro bulls * Yen edges higher after BoJ trims super-long JGB buying (Recasts, adds comment, FX table, updates prices, changes byline, dateline; previous LONDON) By Gertrude Chavez-Dreyfuss NEW YORK, Feb 28 (Reuters) - The dollar rose to five-week highs on Wednesday, bolstered by an upbeat assessment of the U.S. economy from the Federal Reserve's new chairman, which raised expectations the central bank could aggressively increase interest rates over the next two years.
The greenback in February was on track to post its best monthly performance since November 2016.
Also helping the dollar was a euro that fell to six-week lows after euro zone inflation slowed to a 14-month low, underlining the European Central Bank's caution in removing stimulus in the region.
The dollar also rose to three-week highs against the Swiss franc, a two-week peak versus sterling and a two-month high against the Canadian dollar.
"The dollar has found tailwinds in America's sturdy economy and its hawkish central bank," said Joe Manimbo, senior market analyst, at Western Union Business Solutions in Washington.
Fed Chairman Jerome Powell struck an optimistic tone about the U.S. economy on Tuesday, fueling views the U.S. central bank would raise rates four times this year rather than three.
Slightly disappointing U.S. data on Wednesday - a lower-than-expected second estimate of gross domestic product for the fourth quarter and a weaker-than-forecast report on the U.S. Midwest manufacturing sector - failed to dent the dollar's rally.
Data showed U.S. GDP expanded at a 2.5 percent annual rate in the fourth quarter, instead of the previously reported 2.6 percent pace, declining from the third quarter's brisk 3.2 percent.
The Chicago purchasing management index was a weaker-than-expected 61.9 in February, compared with a consensus forecast of 64.2.
In midmorning trading, the dollar index rose 0.3 percent to 90.687, after earlier notching a five-week peak.
Meanwhile, the euro has stumbled after a strong start to the year in which investors speculated that ECB would withdraw stimulus. The euro fell to a six-week low and was last down 0.3 percent at $1.2189.
Political developments are also making euro investors cautious. Italians are preparing to vote in a national election on Sunday, while the leading political parties in Germany decide on a coalition deal that would secure Angela Merkel a fourth term as chancellor.
Against the yen, however, the dollar fell 0.3 percent to 106.98 yen.
The yen rose after the Bank of Japan on Wednesday trimmed the amount of super-long Japanese government bonds it offered to buy at its regular debt-buying operation.
The yen, a safe-haven currency that attracts demand in times of economic uncertainty, also held firm after weak factory data from China undermined investor risk appetite
* Fed chair's testimony read as striking hawkish tone * Weaker-than-expected U.S. data fails to tarnish dollar * Euro zone inflation slows, clipping euro bulls * Yen edges higher after BoJ trims super-long JGB buying (Recasts, adds comment, FX table, updates prices, changes byline, dateline; previous LONDON) By Gertrude Chavez-Dreyfuss NEW YORK, Feb 28 (Reuters) - The dollar rose to five-week highs on Wednesday, bolstered by an upbeat assessment of the U.S. economy from the Federal Reserve's new chairman, which raised expectations the central bank could aggressively increase interest rates over the next two years.
The greenback in February was on track to post its best monthly performance since November 2016.
Also helping the dollar was a euro that fell to six-week lows after euro zone inflation slowed to a 14-month low, underlining the European Central Bank's caution in removing stimulus in the region.
The dollar also rose to three-week highs against the Swiss franc, a two-week peak versus sterling and a two-month high against the Canadian dollar.
"The dollar has found tailwinds in America's sturdy economy and its hawkish central bank," said Joe Manimbo, senior market analyst, at Western Union Business Solutions in Washington.
Fed Chairman Jerome Powell struck an optimistic tone about the U.S. economy on Tuesday, fueling views the U.S. central bank would raise rates four times this year rather than three.
Slightly disappointing U.S. data on Wednesday - a lower-than-expected second estimate of gross domestic product for the fourth quarter and a weaker-than-forecast report on the U.S. Midwest manufacturing sector - failed to dent the dollar's rally.
Data showed U.S. GDP expanded at a 2.5 percent annual rate in the fourth quarter, instead of the previously reported 2.6 percent pace, declining from the third quarter's brisk 3.2 percent.
The Chicago purchasing management index was a weaker-than-expected 61.9 in February, compared with a consensus forecast of 64.2.
In midmorning trading, the dollar index rose 0.3 percent to 90.687, after earlier notching a five-week peak.
Meanwhile, the euro has stumbled after a strong start to the year in which investors speculated that ECB would withdraw stimulus. The euro fell to a six-week low and was last down 0.3 percent at $1.2189.
Political developments are also making euro investors cautious. Italians are preparing to vote in a national election on Sunday, while the leading political parties in Germany decide on a coalition deal that would secure Angela Merkel a fourth term as chancellor.
Against the yen, however, the dollar fell 0.3 percent to 106.98 yen.
The yen rose after the Bank of Japan on Wednesday trimmed the amount of super-long Japanese government bonds it offered to buy at its regular debt-buying operation.
The yen, a safe-haven currency that attracts demand in times of economic uncertainty, also held firm after weak factory data from China undermined investor risk appetite
What is the Best Time to Trade FOREX in Philippines
The table will only make you aware of the time what markets are open and what markets are closed. For forex traders you can literally trade anytime 24 hours 5 days a week. All the markets will only closed during weekends so its really up to the traders best time of the day when you think you are at your prime condition to trade.
DAY OF THE WEEK
In as far as the day of the week is concerned there are traders who prefer Tuesday and Wednesday as well as half day (AM) Friday.
Again if you are convenient to trade do it. It won't matter.
MAGIC HOUR
In forex there a magic hour we named because during this time the traders are preparing to move from near Closing of London market and the Opening of the New York market
BBC: Brexit prompts Credit Suisse to move 250 London jobs
Source: BBC News
Credit Suisse plans to move about 250 banker jobs out of London under its first phase of Brexit planning, according to reports.
Employees in areas such as trading and mergers and acquisitions were likely to be relocated to Frankfurt or Madrid, Bloomberg reported.
The Swiss bank employs about 5,500 staff in London.
A spokesman said Credit Suisse "continued to investigate its options".
According to Bloomberg, the bank had considered relocating staff to Paris but backtracked after holding talks with local regulators and government officials.
Credit Suisse is one of the biggest investment banks in London.
It is one of the few European banks yet to announce contingency plans for Britain's departure from the European Union.
Deutsche Bank has said it will move an unspecified number of jobs to Frankfurt, as well Milan and Paris.
HSBC and UBS have also said they would relocate roles, while last month Goldman Sachs said its contingency planning was reaching the point of no return.
Earlier this month, Credit Suisse chairman Urs Rohner suggested banks would have to trigger their contingency plans within two or three months due to a lack of clarity over Brexit negotiations.
A spokesman for the bank said: "Credit Suisse continues to investigate its options as to the best way to maintain access to EU clients and markets by leveraging existing infrastructure in the event of a hard Brexit."
Last year, the Bank of England said that up to 75,000 jobs could be lost in financial services following Britain's departure from the European Union.
Even so, London would remain Europe's biggest financial centre, with financial services in both the capital and other parts of the UK employing more than one million people
Credit Suisse plans to move about 250 banker jobs out of London under its first phase of Brexit planning, according to reports.
Employees in areas such as trading and mergers and acquisitions were likely to be relocated to Frankfurt or Madrid, Bloomberg reported.
The Swiss bank employs about 5,500 staff in London.
A spokesman said Credit Suisse "continued to investigate its options".
According to Bloomberg, the bank had considered relocating staff to Paris but backtracked after holding talks with local regulators and government officials.
Credit Suisse is one of the biggest investment banks in London.
It is one of the few European banks yet to announce contingency plans for Britain's departure from the European Union.
Deutsche Bank has said it will move an unspecified number of jobs to Frankfurt, as well Milan and Paris.
HSBC and UBS have also said they would relocate roles, while last month Goldman Sachs said its contingency planning was reaching the point of no return.
Earlier this month, Credit Suisse chairman Urs Rohner suggested banks would have to trigger their contingency plans within two or three months due to a lack of clarity over Brexit negotiations.
A spokesman for the bank said: "Credit Suisse continues to investigate its options as to the best way to maintain access to EU clients and markets by leveraging existing infrastructure in the event of a hard Brexit."
Last year, the Bank of England said that up to 75,000 jobs could be lost in financial services following Britain's departure from the European Union.
Even so, London would remain Europe's biggest financial centre, with financial services in both the capital and other parts of the UK employing more than one million people
BBC: Jeremy Corbyn backs permanent customs union after Brexit
Source: BBC News UK
Full Article on link above
Labour leader Jeremy Corbyn has backed the UK being in a permanent customs union with the EU in a speech setting out his approach to Brexit.
He said this would avoid the need for a "hard border" in Northern Ireland and ensure free-flowing trade for business.
The policy shift could lead to Labour siding with Tory rebels to defeat Theresa May on her Brexit strategy.
But a customs union after Brexit would be a "complete sell out", International Trade Secretary Liam Fox will argue.
Mr Corbyn insisted in an interview with BBC Political Editor Laura Kuenssberg that his speech was a "firming up" of Labour's existing policy, which was to back customs union membership during the planned two-year transition period after the UK leaves the EU in March 2019.
In his speech, at Coventry University, Mr Corbyn said Labour would be "looking for a Brexit that puts the working people first".
In a shift from the party's policy at last year's general election, he said the UK should strike a new customs deal with the EU at the end of transition.
"Labour would seek a final deal that gives full access to European markets and maintains the benefits of the single market and the customs union," he said.
"We have long argued that a customs union is a viable option for the final deal.
"So Labour would seek to negotiate a new comprehensive UK-EU customs union to ensure that there are no tariffs with Europe and to help avoid any need for a hard border in Northern Ireland."
The prime minister has insisted the UK will leave both the single market and the customs union, allowing it to negotiate its own post-Brexit trade deals.
Mrs May will give details in a speech on Friday of how her plan for a "managed diversion" from the EU will work in practice, after first briefing the cabinet.
The Conservatives accused Mr Corbyn of "betraying millions of Labour voters" who had backed Brexit.
Media captionJeremy Corbyn has revealed a 'big' Brexit difference with Theresa May, the BBC's Chris Morris says.
International Trade Secretary Liam Fox said Labour's "confused policy would be bad for jobs and wages".
And in a speech on Tuesday, he will say the UK would find itself in a "worse position" than it is now if it leaves the existing customs union but negotiates a similar arrangement
Full Article on link above
Labour leader Jeremy Corbyn has backed the UK being in a permanent customs union with the EU in a speech setting out his approach to Brexit.
He said this would avoid the need for a "hard border" in Northern Ireland and ensure free-flowing trade for business.
The policy shift could lead to Labour siding with Tory rebels to defeat Theresa May on her Brexit strategy.
But a customs union after Brexit would be a "complete sell out", International Trade Secretary Liam Fox will argue.
Mr Corbyn insisted in an interview with BBC Political Editor Laura Kuenssberg that his speech was a "firming up" of Labour's existing policy, which was to back customs union membership during the planned two-year transition period after the UK leaves the EU in March 2019.
In his speech, at Coventry University, Mr Corbyn said Labour would be "looking for a Brexit that puts the working people first".
In a shift from the party's policy at last year's general election, he said the UK should strike a new customs deal with the EU at the end of transition.
"Labour would seek a final deal that gives full access to European markets and maintains the benefits of the single market and the customs union," he said.
"We have long argued that a customs union is a viable option for the final deal.
"So Labour would seek to negotiate a new comprehensive UK-EU customs union to ensure that there are no tariffs with Europe and to help avoid any need for a hard border in Northern Ireland."
The prime minister has insisted the UK will leave both the single market and the customs union, allowing it to negotiate its own post-Brexit trade deals.
Mrs May will give details in a speech on Friday of how her plan for a "managed diversion" from the EU will work in practice, after first briefing the cabinet.
The Conservatives accused Mr Corbyn of "betraying millions of Labour voters" who had backed Brexit.
Media captionJeremy Corbyn has revealed a 'big' Brexit difference with Theresa May, the BBC's Chris Morris says.
International Trade Secretary Liam Fox said Labour's "confused policy would be bad for jobs and wages".
And in a speech on Tuesday, he will say the UK would find itself in a "worse position" than it is now if it leaves the existing customs union but negotiates a similar arrangement
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