07302016Sat
Last update: Sat, 30 Jul 2016 12pm

Markets - FXMM

Markets - FXMM - Europe

Sterling treads water as next week's BoE meeting eyed for direction LONDON: Sterling inched up against the dollar on Friday, staying within the ranges in which it has traded for the past two weeks, as investors eyed a Bank of England meeting next week that they expect will yield the first interest rate cut since 2009. Data showing British consumer morale suffered its sharpest drop in more than 26 years in July, the latest sign of increasing economic pessimism following last month's vote to leave the European Union, had little impact on the currency.A separate YouGov/CEBR consumer confidence indicator on Thursday had also shown a sharp fall, hitting its lowest in three years.Despite those numbers, and purchasing managers surveys last week that suggested Britain is heading for recession, sterling has proved more resilient than most major banks had forecast since it fell 14 percent in the hours after the Brexit vote.Derivatives market indications of its future value are now far more ...


Markets - FXMM - Americas

Sri Lankan rupee falls slightly on importer dollar demand; stocks down COLOMBO: The Sri Lankan rupee edged down on Friday due to importer dollar demand a day after the central bank surprisingly raised key policy rates, dealers said.After market hours on Thursday, the central bank raised its main interest rates by 50 basis points each in a surprise move aimed at curbing stubbornly high credit growth that is adding to concern about inflationary pressures.The central bank governor said on Friday the nation's economy can still grow ...

Markets - FXMM - Asia

Yen surges as Bank of Japan disappoints on stimulus TOKYO: The yen surged Friday after the Bank of Japan made minor tweaks to its stimulus programme that disappointed dealers who had expected a big announcement to kickstart growth in the world's number three economy.The central bank said it would boost its exposure to riskier investments, but left a massive 80 trillion yen ($772 billion) annual bond-buying programme unchanged.The dollar sank below 103 yen from 104.20 yen earlier while Tokyo's Nikkei 225 index dived 1.7 ...

Markets - FXMM - Americas

Euro rises slightly in wake of US Fed NEW YORK: The euro rose slightly against the dollar on Thursday, a day after the US central bank left interest rates untouched but signaled cautious optimism.At 2100 GMT, the euro stood at $1.1076, down from $1.1119 during the day's trading but slightly up from $1.1062 on Wednesday.The dollar stabilized against the yen at 116.65 versus 116.49 late Wednesday. The Bank of Japan is due to wrap up a policy meeting on Friday as markets await ...

Markets - FXMM - Americas

C$ resilient to oil fall as Fed weighs on greenback TORONTO: The Canadian dollar firmed against the greenback on Thursday as its US counterpart was pressured after the Federal Reserve stopped short of signaling an imminent US interest rate hike, while investors eyed domestic economic data due on Friday.The loonie, as the Canadian currency is colloquially known, has held relatively firm against the falling price of oil, a major Canadian export, this week as currency markets focus on global central bank moves."Despite oil moving down ...

Markets - FXMM - Europe

Sterling falls as minds turn to BoE LONDON: Sterling fell to a two-week low against the euro on Thursday, 3,000 job cuts at British bank Lloyds adding to signs of a worsening economic outlook as investors bet the Bank of England will cut interest rates next week. Since the 14 percent fall in the pound in the hours after the vote to leave the European Union on June 23, sterling has proved more robust than many major banks' forecasts. Derivatives market indications ...

Markets - FXMM - Middle East & Africa

Egyptian pound firms on black market after IMF loan announcement CAIRO: The Egyptian pound strengthened on the black market on Thursday, two days after the government announced it was in talks to secure a $12 billion IMF loan package that could ease a dollar shortage and bring economic reforms. Egypt announced on Tuesday it was in the final stages of negotiations with the International Monetary Fund for a three-year loan package to plug a funding gap and stabilise markets.Facing a dollar shortage since a 2011 ...