05252016Wed
Last update: Wed, 25 May 2016 08am

Markets - FXMM

Markets - FXMM - Middle East & Africa

South Africa's rand slips further after April CPI slows JOHANNESBURG: South Africa's rand extended losses to its weakest in more than two months on Wednesday while bonds also suffered after April consumer prices dipped, dampening the chances of a rate hike on Thursday.By 0850 GMT the rand had plunged more than 2 percent to 15.8750 per dollar, its weakest levels since March 16 according to Thomson Reuters data.The unit fell sharply in early trade as the dollar rose on revived expectations of an early Federal Reserve rate hike after data suggested the U.S. economy is regaining momentum.Government bonds also stretched losses, with the yield for the 2026 benchmark adding 12 basis points to 9.495 percent.The central bank, which has raised rates 100 basis points in the last three meetings, is due to decide on rates on Thursday when it concludes a three-day meeting of its policy committee.Traders and analysts said the softer inflation print, that saw prices slow to ...


Markets - FXMM - Asia

Increasing prospects of Fed hikes drag Asia FX down SINGAPORE: Emerging Asian currencies slid on Wednesday as expectations of US interest rate hikes increased on solid economic data and top Federal Reserve officials' support for more tightening.The Chinese yuan slid to hover near a two-month low as local companies rushed to buy the dollar.South Korea's won slumped to a two-month trough as offshore funds sold it on broad strength in the dollar .The Thai baht hit a 2-1/2-month low, as traders suspected that the ...

Markets - FXMM - Asia

Dollar pares losses after upbeat Japan GDP lifts yen TOKYO: The yen firmed against the dollar on Wednesday after data showed Japan's economy unexpectedly expanded at the fastest pace in a year in the first quarter, but later gave up most of its gains on views that more stimulus is needed to keep growth on track.Japan's economy expanded by an annualised 1.7 percent in January-March, easily beating the median market forecast for a scant 0.2 percent increase and rebounding from a 1.7 percent contraction ...

Markets - FXMM - Asia

Dollar steady, awaits Japan GDP for cues TOKYO: The dollar held steady on Wednesday, awaiting the Japanese gross domestic product data due later in the day for cues after failing to sustain gains following its advance to a three-week high versus the yen.Economists polled by Reuters expect Japan's GDP to have grown at a modest 0.1 percent in the January-March quarter in annualised terms, highlighting the slowdown in the world's third largest economy."Japan risks slipping into a technical recession. In that case, ...

Markets - FXMM - Asia

Yen gains after upbeat Japan GDP pares stimulus bets TOKYO: The yen gained against the dollar and the euro on Wednesday, after data showed Japan's economy expanded at the fastest pace in a year in the first quarter and some investors pared bets on further stimulus.Japan's economy expanded by an annualised 1.7 percent in January-March, easily beating the median market forecast for a 0.2 percent increase and rebounding from a 1.7 percent contraction in the previous quarter, the Cabinet Office data showed."The yen strengthened ...

Markets - FXMM - Australia

Australia, NZ dollars run into stiff resistance, Fed speculation SYDNEY/WELLINGTON: The Australian and New Zealand dollars fell on Wednesday as a bounce from recent lows was stymied by heavy chart resistance and speculation U.S. interest rates could rise as early as June.The Australian dollar slipped to $0.7293, from $0.7326 early on and a peak of $0.7368 touched on Wednesday. It met a wall of resistance near $0.7380-$0.7410, having failed five times this month to make a sustained breakthrough that range.It was unable to hold ...

Markets - FXMM - Asia

China's yuan eases, market prices in Fed hike prospects  SHANGHAI: The yuan eased against the dollar to hover near its two-month trough on Wednesday, as companies rushed to buy the US currency on increased prospects of a US interest rate hike.The market started to price in rising expectations of the Federal Reserve raising rates as early as June after US inflation, industrial production and housing starts data showed the US economy re-accelerating into the second quarter.The People's Bank of China set the midpoint rate ...