02072016Sun
Last update: Sun, 07 Feb 2016 08am

Americas

Markets - FXMM - Americas

C$ falls below 70 US cents for first time since May 2003 TORONTO: The Canadian dollar on Tuesday weakened below 70 US cents for the first time since May 2003 as a slump in oil prices extended to near $30 a barrel and traders increased their bets that the Bank of Canada will cut interest rates this month.The last time the Canadian dollar traded below that psychological threshold, US crude oil prices were also trading below $30 a barrel, near the start of a bull run that would hit a record high above $147 a barrel by July 2008.This time around there is little hope oil prices will rebound anytime soon, with global production vastly outpacing demand and concern growing about weakening in No. 2 consumer China's economy.Crude prices have fallen almost 17 percent so far this year, after shedding 35 percent in 2015.The Canadian dollar fell 16 percent last year and has shed another 3 percent in the first days of ...

Markets - FXMM - Americas

Dollar advances for 3rd day as risk appetite improves NEW YORK: The dollar rose for a third straight session on Tuesday as gains on Wall Street and calmer financial markets enhanced appetite for currencies that offer higher yield. The euro and the yen, currencies with low interest rates used by investors to fund purchases of higher-yielding currencies in risky carry trades, were lower on the day after gains seen in a chaotic first week of the year. "We're seeing a reversal of what we ...

Markets - FXMM - Americas

Euro, yen slide as market sentiment improves; dollar rises NEW YORK: The low-yielding euro fell for a second session against the dollar on Monday, while the yen slipped for the first time in six days, as steadier global stock markets prompted investors to seek other currencies that provide better returns.Wall Street shares were volatile all day but recovered some of their losses after a poor start to the new year, diminishing the appeal of the euro and yen.Europe's common currency has been used in ...

Markets - FXMM - Americas

Euro drops as market sentiment improves, dollar rises NEW YORK: The low-yielding euro fell for a second session against the dollar on Monday, as steadier global stock markets prompted investors to seek other currencies that provide better returns.Wall Street shares and Europe's main bourses were firmer after a poor start to the new year, diminishing the appeal of the euro. Europe's common currency has been used in recent months in carry trades, with investors selling the euro because of its near-zero interest rate ...

Markets - FXMM - Americas

Mexico peso, Brazil real gain but China worries linger SAO PAULO: The Mexican peso and the Brazilian real strengthened on Monday after heavy losses last week, but concerns lingered about erratic currency policy in China.The Chinese central bank let the yuan rise for the second day in a row after allowing the currency to post its biggest loss in five months less than a week earlier.Traders had interpreted the slide in the yuan as a sign of wider economic weakness in the world's second ...

Markets - FXMM - Americas

C$ rises despite weaker crude oil, drop in housing starts TORONTO: The Canadian dollar rallied against its US counterpart on Monday despite weakening crude oil prices and a sharp drop in housing starts, as stabilization in US and European stocks helped support risk-sensitive commodity currencies.The loonie, as Canada's currency is colloquially known, hit a fresh 12-year low earlier in the session as Chinese stocks tumbled again. However, China guided its yuan currency higher, and offshore it surged against the dollar. Last weak China allowed its ...

Markets - FXMM - Americas

Mexican peso rises 0.78pc after US employment data MEXICO CITY: The Mexican peso rose 0.78 percent in early trading on Friday, after data showed US job growth surged in December and employment for the prior two months was revised sharply higher. The peso, which has been trading at record lows on uncertainty in Chinese markets and the low global oil price, traded at 17.71 pesos per dollar in early trading. Copyright Reuters, 2016 ...