12082016Thu
Last update: Thu, 08 Dec 2016 05am

Americas

Markets - FXMM - Americas

Canadian dollar strengthens as oil rallies TORONTO: The Canadian dollar strengthened against its US counterpart on Thursday as oil rose, while a breakthrough on a free-trade agreement with the European Union improved the longer term outlook for the loonie.Belgium agreed a deal with its regional parliaments on to approve a landmark EU-Canada free trade agreement, breaking a deadlock that has blocked the pact for weeks."I doubt it is going to have that much impact (on the Canadian dollar) from a short-term point of view. From a much longer term perspective it's positive in that it should help Canada diversify its export penetration," said Shaun Osborne, chief currency strategist at Scotiabank.US crude prices were up 0.87 percent at $49.61 a barrel as a further drop in US crude inventories countered investor doubts that the Organization of the Petroleum Exporting Countries will be able to implement a production cut.At 9:26 a.m. EDT (1326 GMT), the Canadian dollar was ...

Markets - FXMM - Americas

Dollar surges against Swedish crown on Riksbank, gains against yen NEW YORK: The US dollar hit its highest in more than seven and a half years against the Swedish crown after dovish comments from Sweden's central bank, and hit a three-month high against the yen on expectations of a December Federal Reserve rate hike.Sweden's Riksbank said the chances of another interest rate cut had increased and it was ready to expand its quantitative easing program further. The Riksbank has already slashed rates to negative 0.5 ...

Markets - FXMM - Americas

Oil rises on OPEC cut comments, draw of US crude at Cushing NEW YORK: Oil edged higher on Thursday, lifted by a reported drop in US crude inventories stored at the Cushing, Oklahoma, delivery hub, and as commitments from Gulf OPEC members assuaged lingering doubts in the market about cooperation from other producers. Energy ministers from Saudi Arabia and Gulf allies told their Russian counterpart this week they are willing to reduce their peak oil output by up to 4 percent, sources familiar with the matter said. ...

Markets - FXMM - Americas

Dollar hits multi-month highs against euro, yen on Fed bets NEW YORK: The dollar hit its highest level in nearly eight months against the euro and a roughly three-month high against the yen on Tuesday on growing expectations that the Federal Reserve would raise interest rates in December, while the offshore yuan hit a record low. Traders saw a chance of more than 78 percent that the Fed would raise rates in December, up from a roughly 74 percent chance Monday, according to data from ...

Markets - FXMM - Americas

Dollar heads for third weekly gain as US rate rise bets firm LONDON: The dollar was on course for its third consecutive week of gains against the basket of currencies used to measure its broader strength on Friday, driven to an eight month high by hardening expectations of a rise in interest rates in December. In a year where investors have never really got close to fully pricing in a move, short-term US rates now put a 75 percent probability on the Federal Reserve raising official borrowing ...

Markets - FXMM - Americas

C$ falls to 1-week low pressured by lower oil price TORONTO: The Canadian dollar fell to a 1-week low against its broadly firmer US counterpart on Thursday, pressured by lower oil prices and the Bank of Canada's more dovish tone.The loonie's losses occurred a day after Bank of Canada policymakers said they had considered adding more monetary stimulus and that export weakness could be harder to turn around than they had thought.It was "another down day for the Canadian dollar," as oil fell and as ...

Markets - FXMM - Americas

As Trump fears fade, other risks for Mexican peso come to fore MEXICO CITY: Mexico's peso has largely overcome the prospect of a victory by US Republican presidential candidate Donald Trump, but concerns about weak growth, an oil price funk and ballooning debt will limit further gains, economists said on Thursday. The peso surged back around 7 percent from a record low hit last month as Hillary Clinton gained in opinion polls, but it was little changed after last night's third and final debate between the rivals, ...