Markets - FXMM
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TORONTO: The Canadian dollar was marginally stronger against its US counterpart on Monday, tracking positive market sentiment following Friday's surprising US monthly jobs report.The benchmark S&P 500 index edged up to another record closing high on Wall Street, extending Friday's rally after US employment rose more than expected last month.The loonie strengthened after the release of Canadian building permits data, which surged past expectations in March, though the closely-watched residential, single family component was more subdued."Once again, it's a situation where on the surface, things look good for the Canadian dollar, but the domestic factors really weren't that strong, so lets chalk this up to basic risk-on move," said Mark Chandler, head of Canadian fixed-income and currency strategy at RBC Capital Markets.The Canadian dollar, which was stronger against other major currencies, finished its North American session at C$1.0068 against the US dollar, or 99.32 US cents, weaker than Friday's close ...
WELLINGTON/SYDNEY: The Australian dollars was under pressure on Tuesday as the market remained deeply divided on the chance of a cut in interest rates from the Reserve Bank of Australia (RBA) later in the session.The Aussie eased to $1.0252, from $1.0284 late locally on Monday. It again tested major support around $1.0222 overnight but bids held for the moment.Aussie seen vulnerable ahead of the RBA's rate decision at 0430 GMT. A rate cut not expected ...
NEW YORK: The US dollar rose against the yen and euro on Monday and US stocks were set to close at a new record as the outlook for the US economy continued to brighten following last week's strong jobs report.The euro fell against the greenback after European Central Bank President Mario Draghi said the bank, which cut interest rates last week, is watching economic data and is ready to act again.Purchasing managers indexes on Monday ...
TORONTO: The Canadian dollar was marginally weaker against its US counterpart on Monday as the US dollar held firm following Friday's better-than-forecast US employment data, though volumes were thin due to holidays in Britain and Japan.The Canadian currency weakened slightly following the release of Ivey Purchasing Managers Index data that showed the pace of business purchasing slowed more severely than expected in April.Earlier, the currency had briefly strengthened after the release of Canadian building permits ...
JOHANNESBURG: South Africa's rand edged lower against the dollar on Monday amid thin trade due to holidays in Britain and Japan and a slightly weaker euro.The rand was at 9.0210 to the dollar at 1444 GMT, down 1.2 percent from Friday's New York close. "It's a mixture of a thin holiday market and the euro has come off a little bit," said Rand Merchant Bank trader Jim Bryson.The euro slipped on Monday after business surveys ...
LONDON: The dollar rose against the yen on Monday as optimism about the US economy resurfaced after Friday's above-forecast jobs data while the euro struggled on more evidence of euro zone weakness.The dollar was up 0.2 percent at 99.23 yen, having earlier hit 99.455 yen, its strongest in more than a week.This brought it nearer the 100 yen mark that has acted as strong resistance in recent weeks, but thin volumes due to holidays in ...
JOHANNESBURG: South Africa's rand traded close to last Friday's 3-week highs against the dollar on Monday and should be supported by renewed appetite for riskier but higher-yielding assets in the wake of policy easing across developed markets.Traders did not anticipate sharp market moves in response to first quarter domestic unemployment data due out at 0930 GMT, although it should confirm that business are reluctant to add new jobs while economic growth remains lacklustre.The local unit ...More Articles...
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