02082016Mon
Last update: Mon, 08 Feb 2016 06am

Markets - FXMM

Markets - FXMM - Europe

Oil currencies dip, euro and yen gain LONDON: The dollar edged down on Monday as renewed selling on oil markets drove investors into their safe havens of choice, the euro and yen, and weakened the currencies of major crude exporters.After an upbeat session in Asia, stock markets quickly turned negative in Europe and oil fell almost 3 percent, driving roughly half-percent falls in the Canadian dollar and Norwegian crown.The oil price fall turned investors' focus back onto the broadly negative view of the outlook for the world economy that has dominated since the start of 2016.That has tended to benefit the euro, yen and Swiss franc at the expense of the dollar."We cannot sound the all clear, there is clearly a lot of uncertainty out there," Commerzbank strategist, Thu Lan Nguyen, said."The main theme this morning is of commodity currencies being under pressure. A lot depends on the oil price. If we see a sharp drop back ...


Markets - FXMM - Middle East & Africa

Kenyan shilling steady, seen in a tight range NAIROBI: The Kenyan shilling was unchanged on Monday and traders said it was likely to be stuck in a narrow band for the rest of the week. Share prices rose.At 1330 GMT, commercial banks posted the shilling at 102.30/40 to the dollar, the same as Friday's closing rate."Trading has been range-bound," said one trader at a major commercial bank in Nairobi, adding the currency would likely hover in the 102.20-102.50 range.On the Nairobi Securities Exchange, ...

Markets - FXMM - Americas

C$ dips with lower crude oil prices, trimming last week's rally  TORONTO: The Canadian dollar fell against its US counterpart on Monday, trimming last week's gains, as Friday's short-covering rally in crude oil prices was partly unwound.The currency rallied 3.0 percent last week after the Bank of Canada surprised many traders by leaving its policy rate on hold at 0.50 percent.However, expectations that the central bank will cut by July has nudged higher to 86 percent. It was 78 percent after much stronger than expected retail ...

Markets - FXMM - Asia

Sri Lankan rupee steady ahead of policy rate decision COLOMBO: The Sri Lankan rupee was steady on Monday ahead of the central bank's January policy rate decision as dollar sales by a private bank helped offset demand for the greenback from importers, dealers said.Some market analysts expect a rate hike in the central bank's monetary policy rate review scheduled at 1400 GMT on Monday. But a Reuters poll expects the central bank to keep its key interest rates steady.The private bank might have sold ...

Markets - FXMM - Asia

Yen steady as BoJ chief tempers hopes for more easing TOKYO: The yen held steady in Asia on Monday as Japan's top central banker moved to temper speculation it will unveil more monetary stimulus when it meets this week.A report in the leading Nikkei business daily on Friday raised hopes the Bank of Japan would widen its already vast easing programme to counter weakness in the world's number three economy.The report, which came a day after the head of the European Central Bank had pledged ...

Markets - FXMM - Middle East & Africa

Egyptian pound steady at forex sale, strengthened on black market CAIRO: Egypt's central bank kept the pound steady against the dollar at its official foreign currency auction on Sunday but the currency strengthened against the dollar on the black market.Egypt, which depends on imported food and energy, is facing a dollar shortage and increasing pressure to devalue the pound.The central bank surprised markets when it strengthened the pound against the dollar on Nov. 11 by 20 piasters and has bucked expectations by holding it steady ...

Markets - FXMM - Americas

Recovery in oil, equities fuels dollar rise NEW YORK: The dollar rose on Friday, boosted by increased expectations of monetary easing by central banks in Europe and Japan, and by a bump in global equities and oil prices that renewed market risk appetite.The dollar rose to a two-week high against the yen, which has had its year-to-date gains versus the greenback cut nearly in half over the past two days.Bank of Japan Governor Haruhiko Kuroda said Friday there is further room for ...