05042016Wed
Last update: Wed, 04 May 2016 01am

Markets - FXMM

Markets - FXMM - Middle East & Africa

South Africa's rand recovers, stocks rise as EM's back in favour JOHANNESBURG: South Africa's rand inched firmer and stocks rose late on Monday as the shock that global oil producers had not decided on an output freeze waned, handing emerging market assets a reprieve.By 1545 GMT the rand had gained 0.45 percent to 14.4950 per dollar, reversing earlier losses that saw the unit slide to a session low of 14.7500."Commodity markets appear to be stabilising. The market seems to have absorbed news that global oil producers have not agreed on any production freeze at the meeting in Doha yesterday," said ETM Analytics economist Jana van Deventer.Commodity-linked currencies were hit hard by news that a deal to freeze oil output by OPEC and non-OPEC producers fell apart on Sunday, sending oil prices tumbling by as much as 7 percent as the global supply glut looked set to continue.Government bonds also firmed, with the benchmark paper due in 2026 cutting 4.5 basis points ...


Markets - FXMM - Europe

Sterling net shorts hit 3-year high on Brexit worries LONDON: Speculators increased their short positions on sterling to the highest level in almost three years in the week to last Tuesday, data from the Commodity Futures Trading Commission has shown, on worries over the impact of a Brexit on the currency.Net short sterling contracts rose to 51,310 in the week to April 12, the highest since June 2013, as investors added to their bearish bets on the pound for a fourth straight week.Concerns that ...

Markets - FXMM - Americas

C$ weakens to a 1-week low as oil falls after Doha meeting TORONTO: The Canadian dollar weakened to a one-week low against its US counterpart on Monday as oil prices fell following a producers' meeting in Doha, although some losses were pared as falls for stock markets eased.A dive in oil prices sent stock markets lower after producers failed to agree on a plan to curb global supply. However, falls on European markets eased and Wall Street opened only modestly lower.US crude prices were down 4.34 percent ...

Markets - FXMM - Europe

Sterling makes minor recovery as stocks rise, Brexit fears check gains LONDON: Sterling staged a minor recovery on Monday as world stock markets rose and on increased demand for higher-yielding currencies, including the pound, although uncertainty over the prospect of Britain exiting the European Union checked gains.Traders said a rally in stock markets helped a sterling rebound against the safe-haven yen and the lower-yielding euro.Sterling was up 0.2 percent at $1.4250, having fallen to $1.4132 at the start of the European session, while the euro was ...

Markets - FXMM - Americas

Commodity currencies recover ground after Doha meeting impact fades NEW YORK: The US dollar edged higher against the yen and commodity currencies pared losses after traders viewed a strike by Kuwaiti oil and gas workers as supportive of oil prices and anticipated low volatility this week.The dollar was last up 0.07 percent against the yen at 108.81 yen after slumping to a session low 107.81 yen, which was near a 17-month low of 107.61 yen touched a week ago.The safe-haven yen had earlier rallied, ...

Markets - FXMM - Middle East & Africa

South Africa's rand tumbles as oil prices fall, stocks down JOHANNESBURG: South Africa's rand weakened against the dollar on Monday in line with other commodity currencies hit by a slide in oil prices.The rand fell more than 1 percent to 14.7500 to the greenback and was trading 0.9 percent softer at 14.6935 by 0717 GMT, reversing some of its gains last week.A deal to freeze oil output by OPEC and non-OPEC producers fell apart on Sunday, sending oil prices tumbling."The market will have enough to ...

Markets - FXMM - Middle East & Africa

Kenyan shilling seen firming on bond sale dollar flows  NAIROBI: Kenyan shilling was steady in early trade on Monday and was expected to gain ground on the back of dollar inflows from foreign investors interested in buying a five-year Treasury bond being auctioned later this week.At 0804 GMT, commercial banks quoted the shilling at 101.15/25 to the dollar, unchanged from Friday's close. The shilling has gained 1.1 percent against the dollar this year.Copyright Reuters, 2016