08252016Thu
Last update: Thu, 25 Aug 2016 04am

Markets - FXMM

Markets - FXMM - Americas

C$ weakens against firmer greenback as oil falls TORONTO: The commodity-linked Canadian dollar weakened against its firmer US counterpart on Wednesday as oil fell, although losses for the currency were restrained as investors awaited clues this week on the US interest rate outlook.Oil fell after an unexpectedly large inventory build in the world's biggest oil consumer renewed oversupply concerns. US crude oil futures settled $1.33 lower at $46.77 a barrel.The US dollar rose against a basket of major currencies ahead of a gathering of global central bankers later this week in Jackson Hole, Wyoming, where the focus will be on Friday's keynote speech by Federal Reserve Chair Janet Yellen."The market is really sitting tight waiting for Friday (when Yellen speaks)," said Don Mikolich, executive director, foreign exchange sales at CIBC Capital Markets, who noted that the loonie lost only a modest amount of ground in the face of losses for oil and a firmer US dollar."Canada still stands ...


Markets - FXMM - Europe

Dollar treads water as traders focus on Yellen speech LONDON: The dollar crept up on Wednesday after falling the previous day, but was unable to break out of its recent trading ranges, as investors focused on a gathering of central bankers for clues on when the U.S. Federal Reserve will hike interest rates again.Analysts said data on Tuesday that showed new U.S. single-family home sales unexpectedly rose in July, reaching their highest level in nearly nine years, had helped the dollar marginally.The main focus ...

Markets - FXMM - Europe

Sterling hits three-week highs, boosted by upbeat data LONDON: Sterling extended gains above $1.32 to hit a three-week high on Wednesday, as speculators further cut bets against the currency after recent data indicated that the economy was holding up surprisingly well after the Brexit vote.Short positions on sterling had reached a record high of 94,238 contracts in the week to Aug. 16 and traders said many speculators were now unwinding bets and booking profits.Sterling rose 0.7 percent against the euro to 85.13 pence ...

Markets - FXMM - Asia

Sri Lankan rupee edges down on importer dollar demand COLOMBO: The Sri Lankan rupee ended slightly weaker on Wednesday as importer dollar demand surpassed declining sales of the greenback by exporters, dealers said.The local currency traded below 145.50 per dollar as the central bank did not intervene to defend the rupee, they added.The spot rupee ended at 145.55/58 per dollar, compared with Tuesday's close of 145.50/55."The rupee ended weaker on importer demand," a currency dealer said, asking not to be named."The central bank was ...

Markets - FXMM - Asia

South Korean won ends lower on dollar strength, stocks edge down SEOUL: The South Korean won slipped on Wednesday as the dollar strengthened, helped by solid US home sales data. The won was quoted at 1,122.0 to the dollar at the conclusion of onshore trade, down 0.6 percent from Tuesday's close of 1,115.6.South Korean shares also edged down , as market participants held their positions ahead of the Jackson Hole meeting of global central banks.The Korea Composite Stock Price Index (KOSPI) closed down 0.3 percent at ...

Markets - FXMM - Asia

Dollar rises as markets await Fed chair speech TOKYO: The dollar rose Wednesday with the Federal Reserve's policy plans in focus, while the South Korean won fell after the North tested a submarine-launched missile, bringing geopolitical tensions back into focus.Traders are awaiting a speech by Fed chief Janet Yellen at the Jackson Hole symposium of global bankers Friday hoping for clues about the direction of US monetary policy.On Wednesday, the dollar bought 100.36 yen against 100.23 yen in New York, while the euro ...

Markets - FXMM - Americas

Pound gains but rand plunges on finance minister probe NEW YORK: The British pound edged higher on the dollar Tuesday but South Africa's rand plunged after Finance Minister Pravin Gordhan was summoned by police.The pound gained after eurozone purchasing manager data for August, while not stellar, suggested little impact so far from the British vote in June to pull out of the European Union.Sterling rose to $1.3194, its best level on the greenback since August 4, and to 85.70 pence against the euro.The rand ...