12072016Wed
Last update: Wed, 07 Dec 2016 07pm

Markets - FXMM

Markets - FXMM - Middle East & Africa

South Africa's rand firms, stocks rise in emerging assets recovery JOHANNESBURG: South Africa's rand firmed on Tuesday alongside other emerging market currencies, helped by higher commodity prices and a pause in the rise of the dollar. Stocks also rose in line with emerging markets led by investors buying back into over sold retail and banking shares.At 1500 GMT, the rand traded at 14.1300 per dollar, 0.56 percent firmer from its New York close on Monday. "Pressure on the rand has lessened as medium and long-term US treasury yields have eased and as the dollar has backed off from its highs," Rand Merchant Bank analyst John Cairns said in a note.Expectations of inflation stemming from President-elect Donald Trump's future fiscal policies have fed through to US bond yields and pushed the dollar to near 14-year highs. That in turn has weighed heavily on emerging markets.Locally, focus was on the South African Reserve Bank interest rates decision on Thursday.Economists polled by Reuters ...


Markets - FXMM - Americas

C$ hits nearly 2-week high amid OPEC optimism TORONTO: The Canadian dollar strengthened to a nearly two-week high against its US counterpart on Tuesday as investors weighed prospects of an output cut by major oil producers and domestic retail sales rose for the first time in three months.Canadian retail sales rose 0.6 percent in September, in line with economists' expectations, but would have been flat without the increased purchases of cars and parts, data from Statistics Canada showed. After removing the effects of ...

Markets - FXMM - Americas

Dollar regains footing as US data boosts multiple rate hike view NEW YORK: The dollar resumed its uptrend on Tuesday, helped by a surge in US existing home sales last month that further cemented expectations not only of a Federal Reserve interest rate hike in December, but also of further tightening next year. On Monday, the dollar sold off slightly as investors took advantage of a holiday-shortened week to square positions and book profits on a US currency that has logged nearly two weeks of extended ...

Markets - FXMM - Asia

Sri Lankan rupee slips on importer dollar demand COLOMBO: The Sri Lankan rupee ended slightly weaker on Tuesday due to dollar demand from importers on fears that US President-elect Donald Trump's policies would lead to a rise in rates and the greenback.Foreign investors might pull out of emerging markets, including Sri Lanka, if the Fed raises interest rates next month, dealers said. Rupee forwards were active, with spot-next forwards ending at 148.60/70 per dollar, compared with Monday's close of 148.55/65. "The pressure was ...

Markets - FXMM - Europe

Metals rally helps knock dollar off 13 1/2-year high LONDON: The dollar retreated from a six-month peak against the yen on Tuesday, while a push higher for copper and iron ore prices drove commodities-linked currencies higher, led by the Australian dollar. Two bullish weeks for the dollar since the election of Donald Trump looked to be subsiding before the Thanksgiving holiday, and traders said the widening of an oil rally to other commodities was encouraging a squeeze on pro-dollar positions. "If we're going to ...

Markets - FXMM - Asia

Sri Lankan rupee weaker on importer dollar demand; stocks down COLOMBO: The Sri Lankan rupee was trading weaker on Tuesday due to dollar demand from importers on fears that the U.S. President-elect Donald Trump's policies would spark higher rates and strengthen the dollar.Foreign investors might pull out of emerging markets, including Sri Lanka, if the Fed raises interest rates next month, dealers said.Rupee forwards were active, with spot-next forwards trading at 148.70/75 per dollar at 0554 GMT, compared with Monday's close of 148.55/65."The pressure has ...

Markets - FXMM - Asia

South Korean won, stocks up as dollar weakens in global markets SEOUL: The South Korean won and shares erased recent sharp losses on Tuesday as the greenback took a pause in global markets after its near 10-day rally.The won was quoted at 1,176.1 to the dollar at the conclusion of onshore trade, up 0.9 percent from Monday's close of 1,186.6.The Korea Composite Stock Price Index (KOSPI) closed up 0.9 percent at 1,983.47 points, marking its highest level since Nov. 11.Foreign investors bought a net 78 billion ...