05272016Fri
Last update: Fri, 27 May 2016 09pm

Markets - FXMM

Markets - FXMM - Asia

Malaysian ringgit leads emerging units higher as oil rises TOKYO: Higher-yielding currencies in Asia moved higher against the dollar Thursday, as sentiment in emerging markets picked up as Brent crude passed $50 a barrel for the first time this year.Analysts said recent data from the US indicated that the global economy was showing signs of a gradual recovery, but warned that it was unclear whether long-term sentiment could stay positive.The oil-reliant Malaysian ringgit led gains among higher-yielding, but riskier, emerging units, up 0.6 percent.The Taiwanese and Singapore dollars, Thai baht, Philippine peso and Indonesian rupiah also carved out gains against the dollar."Appetite for risk strengthened a bit but we will have to see whether this is a trend or a short-term spell," Stephen Lee, a Seoul-based economist at Samsung Securities, told Bloomberg News."US rate hike speculation is still there. The latest economic data point to a gradual but strong recovery momentum, which is a good thing for the global ...


Markets - FXMM - Americas

C$ firms with oil ahead of Bank of Canada rate decision TORONTO: The Canadian dollar edged higher against its US counterpart on Wednesday as oil prices and stocks rose, while the market braced for an impending interest rate announcement by the Bank of Canada.Oil rose towards $50 a barrel for the first time in seven months after industry data showed a sharp fall in US inventories. US crude prices were up 1.25 percent at $49.23 a barrel.Adding to support for risk-sensitive commodity-linked currencies such as the ...

Markets - FXMM - Europe

Sterling hits 3-1/2-month high as Brexit risk seen fading LONDON: Sterling climbed to a 3-1/2-month high against the euro on Wednesday as several bookmakers shortened the odds on Britain voting to stay in the European Union to 1/7, indicating around an 85 percent chance of that outcome.Most economists and strategists reckon a vote to leave - or a "Brexit" - at a referendum on June 23 would deal a blow to Britain's economy and would send sterling tumbling.Ratings agency S&P said on Wednesday that ...

Markets - FXMM - Asia

Sri Lankan rupee forwards down on importer dollar demand; stocks up COLOMBO: Sri Lankan rupee forwards edged down on Wednesday due to importer dollar demand amid expectations that the currency would weaken on a possible increase in government spending after the country's worst natural disaster since 2004, dealers said.The cost of landslides and floods after days of torrential rains will be between $1.5 billion and $2 billion at the minimum, the government said on Monday, as the Indian Ocean island struggles to recover from a cyclonic ...

Markets - FXMM - Europe

Dollar at 2-month highs on rate view, Greek deal helps euro LONDON: The dollar hit a two-month high against a basket of currencies on Wednesday on expectations the Federal Reserve will raise rates in the near term, but it gave up gains against the euro on relief that there was progress in Greek bailout talks.Euro zone finance ministers early on Wednesday gave a nod to releasing 10.3 billion euros in new funds for Greece in recognition of painful fiscal reforms pushed through by Prime Minister Alexis ...

Markets - FXMM - Middle East & Africa

South Africa's rand firms on risk appetite, vulnerable to ratings downgrade fears JOHANNESBURG: South Africa's rand firmed to a one-week high against the dollar early on Wednesday on improved risk appetite, but analysts said the unit looked vulnerable to the possibility of a credit ratings downgrade and a U.S. Federal Reserve interest rate hike.At 0700 GMT, the rand traded at 15.5100 versus the dollar, 0.94 percent firmer from its New York close on Tuesday.The currency was trading at its strongest levels since May 17, according to Thomson ...

Markets - FXMM - Europe

Russian assets rally with oil and risk appetite MOSCOW: The Russian rouble and stock indexes opened higher on Wednesday, helped by a recovery in the oil price and global risk appetite.At 0810 GMT, the rouble was 0.5 percent stronger against the dollar at 65.87 and had gained 0.3 percent to 73.45 versus the euro.Brent crude oil, a global benchmark for Russia's main export, was up 1.6 percent at $49.4 a barrel, after a U.S. industry survey indicated a larger-than-expected fall in crude inventories."The ...