02062016Sat
Last update: Sat, 06 Feb 2016 06pm

Americas

Markets - FXMM - Americas

C$ rallies to nearly 8-week high, gains pared as oil drops TORONTO: The Canadian dollar rallied to a nearly eight-week high against a weaker US counterpart on Thursday, although gains were pared as crude oil prices reversed lower.The currency has rallied 7 percent since Jan. 20, when it hit its weakest level since 2003 at C$1.4689, helped by expectations that the Bank of Canada will not cut rates in the near term.A more dovish European Central Bank, the recovery in oil prices and stabilization in stocks have given the rally added traction, according to Michael Goshko, corporate risk manager at Western Union Business Solutions, while US dollar weakness has taken over as the major driver over the past two days."It has nothing to do with what's going on internally," said Goshko.The US dollar extended its plunge against major currencies amid doubts the US Federal Reserve will be able to hike interest rates this year.The collapse through support at C$1.3800 was a ...

Markets - FXMM - Americas

Dollar plunges for second day on doubts over '16 Fed rate hikes NEW YORK: The US dollar extended its plunge against major currencies on Thursday as traders sharply unwound bullish bets against the greenback on continued skepticism that the Federal Reserve would be able to hike interest rates this year.The euro hit its highest level in over 3-1/2 months against the dollar of $1.12390, while the dollar hit a two-week low against the yen of 116.730 yen.The dollar index, which measures the greenback against a basket of ...

Markets - FXMM - Americas

Dollar plunges for second day on doubts over 2016 Fed rate hikes NEW YORK: The US dollar extended its plunge against major currencies on Thursday as traders sharply unwound bullish bets against the greenback on continued skepticism that the Federal Reserve would be able to hike interest rates this year.The euro hit its highest level in 15 weeks of $1.12390 against the dollar, while the dollar fell to a two-week low against the yen of 116.655 yen.The dollar index, which measures the greenback against a basket of ...

Markets - FXMM - Americas

Oil jumps 8 percent as dollar tumbles after US data NEW YORK: Oil prices jumped 8 percent higher on Wednesday, snapping a two-day rout, after investors took advantage of a weaker U.S. dollar and shrugged off data showing an unexpected large surge in U.S. crude inventories to record highs.Comments by Russia's foreign minister reiterating the major producer's willingness to meet if there was consensus among the OPEC and non-OPEC members, also reignited hopes of a deal to trim output and helped to boost prices.The dollar ...

Markets - FXMM - Americas

Dollar tumbles as Dudley comments, US data suggest dovish Fed NEW YORK: The dollar hit its lowest level against the euro since last October and wiped out recent gains against the Japanese yen on Wednesday on growing expectations for a slower pace of Federal Reserve rate hikes this year.The euro rose over 2 percent against the dollar to hit $1.11455, its highest level since Oct. 22, while the greenback fell over 2 percent against the yen to a nearly two-week low of 117.055 yen, erasing ...

Markets - FXMM - Americas

Latam currencies strengthen as oil recovers SAO PAULO: Latin American currencies strengthened on Wednesday as hopes that major oil producers may agree to cut output lifted crude prices.Russian Foreign Minister Sergei Lavrov said if there is consensus among the Organization of the Petroleum Exporting Countries and non-OPEC members to discuss the issue, "then we will meet".Oil prices rose as a result, fostering demand for currencies such as the Mexican peso. Colombia's peso strengthened 0.5 percent, following an almost 2 percent slump ...

Markets - FXMM - Americas

Dollar falls against euro, yen on risk aversion, dovish Fed view NEW YORK: The US dollar fell against the euro and yen on Tuesday after a drop in oil prices suggested U.S. inflation would stay low and prevent the Federal Reserve from hiking interest rates at a steady pace this year, while risk aversion also boosted the euro and yen.Brent crude oil prices fell more than 5 percent on worries about the demand outlook and rising supply, boosting expectations for lower inflation and, in turn, a ...