05262016Thu
Last update: Thu, 26 May 2016 07pm

Markets - FXMM

Markets - FXMM - Europe

Zloty firms ahead of Moody's review despite GDP slowdown BUDAPEST/WARSAW: The zloty and Polish government bonds firmed amid hopes that Moody's will only worsen the outlook of Poland's credit rating later on Friday rather than cutting the rating itself.In January, rating agency S&P downgraded Poland's credit rating, saying the ruling conservative government had weakened the independence of key institutions, particularly the constitutional court. There are fears now that government spending plans and other political measures could prompt a downgrade by Moody's as well on Friday.In a Reuters poll, most analysts forecast that Moody's will cut Poland's credit rating outlook to negative from stable. A minority saw a rating cut to A3 from A2.But some investors think that even a downgrade could not weaken the zloty further as it got oversold in the past weeks and reached a 3-month low against the euro last week.It traded at 4.4 at 0847 GMT, firmer by 0.4 percent, with the expectations on the ...


Markets - FXMM - Middle East & Africa

South Africa's rand weakens as US rate hike bets lift dollar JOHANNESBURG: South Africa's rand fell 1 percent against the dollar on Friday, mainly reflecting the greenback's broadbased gains as investors speculated that US interest rates were still on track to rise this year. The rand hit a session trough of 15.2000/dollar, and was down 0.86 percent on the day at 15.1780 by 1020 GMT. Some of its losses came after Standard & Poor's said it was concerned about South Africa's dismal economic growth and its ...

Markets - FXMM - Middle East & Africa

Nigerian naira extends losses as speculators take position LAGOS: Nigeria's naira extended its losses against the greenback on Friday amid a jump in demand for dollars by oil importers and speculation of central bank moves to make the exchange rate more flexible, traders said. The local currency slipped to 345 to the dollar on the parallel market in early trade, down 1.2 percent compared with the previous day's closed. "More speculators are taking a position in the market, causing dollar scarcity and fall ...

Markets - FXMM - Europe

Dollar hits 2-week high, posts best fortnight since February LONDON: The dollar hit a two-week high against a basket of currencies on Friday, posting its best fortnightly performance since February, bolstered by the view that the US Federal Reserve is still on track to raise rates before any other major central bank. The greenback suffered a sharp sell-off in the first four months of the year, hitting a 16-month low, as market expectations of at least two Fed rate hikes in 2016 faded.But as ...

Markets - FXMM - Europe

Russian rouble flat for second day; keeps step with oil MOSCOW: The Russian rouble held steady early on Friday, falling slightly against the dollar but rising against the euro, as oil prices traded in a tight range. At 0725 GMT, the rouble was 0.2 percent weaker against the dollar at 65.00 but had gained 0.3 percent to trade at 73.68 versus the euro.Brent crude oil, a global benchmark for Russia's main export, was down 0.7 percent at around $47.7 a barrel as the US dollar ...

Markets - FXMM - Asia

Yen edges up, markets eye Bank of Japan stimulus TOKYO: The yen edged higher Friday even as the Bank of Japan's chief repeated a pledge that he was ready to unleash more stimulus measures to boost the sagging economy.The remarks from Haruhiko Kuroda come after other officials have attempted to weaken the yen by threatening a market intervention, as a recent rally in the currency threatens Japan Inc's profits.On Friday, Kuroda said the central bank "doesn't have to wait" to launch more monetary easing ...

Markets - FXMM - Americas

Pound gains despite Bank of England's Brexit warning NEW YORK: The British pound edged higher Thursday despite a bearish outlook and warning over the consequences of Brexit from the Bank of England.But the dollar was stronger against the euro and yen as two Federal Reserve officials laid out stronger arguments for an early interest-rate increase.The pound, pushing up to $1.4453, could have been expected to weaken as the Bank of England cut its growth forecast for this year to 2.0 percent, saying the ...