05012016Sun
Last update: Sun, 01 May 2016 04pm

Americas

Markets - FXMM - Americas

Dollar drops after Yellen's dovish remarks NEW YORK: The dollar dropped Tuesday as traders judged unlikely another US interest rate increase anytime soon after remarks by Federal Reserve Chair Janet Yellen.Yellen, speaking to the Economic Club of New York, signaled clearly that a rate hike was not likely to come before June and that, when the US central bank does tighten policy, it will be slow and gradual.Yellen stuck to the Federal Open Market Committee's dovish tone in January and March statements after the FOMC raised the benchmark federal funds rate in December for the first time in more than nine years.Her tone was in contrast to some recent hawkish remarks by some Fed regional presidents that spurred speculation another hike could come at the April 26-27 meeting.Yellen cited growing risks to the US economy from the global slowdown, China uncertainty and low oil prices, and mixed US economic data among others for the central bank's ...

Markets - FXMM - Americas

C$ strengthens despite drop in oil prices TORONTO: The Canadian dollar strengthened to a six-day high against its US counterpart on Tuesday despite a drop in oil prices and soft domestic data, while attention turned to a speech by Federal Reserve Chair Janet Yellen.The currency extended its recovery from its weakest level last week at C$1.3296. Still, it is 1.9 percent weaker than on March 18, which it reached its strongest level in nearly five-months at C$1.2924.Investors will look to Yellen for ...

Markets - FXMM - Americas

Latam currencies weaken ahead of Fed's Yellen speech SAO PAULO: Latin American currencies weakened on Tuesday on lower commodity prices as investors awaited Federal Reserve Chair Janet Yellen's speech later in the day.Crude prices fell more than 3 percent on fears that global oil oversupply could put an end to a two-month rally. Traders doubt major producers will agree to cut output in a meeting next month.That hurt the currencies of oil exporters, such as the Colombian and Mexican pesos .Many traders also ...

Markets - FXMM - Americas

Dollar falls after Fed's Yellen says caution appropriate NEW YORK: The US dollar hit its lowest level against the euro in over a week and fell against other major currencies on Tuesday after Federal Reserve Chair Janet Yellen said it was appropriate for the Fed to proceed "cautiously" in hiking interest rates.In her first remarks since a press conference after the Fed left rates steady at its most recent meeting earlier this month, Yellen said she still expected headwinds from weak growth abroad, ...

Markets - FXMM - Americas

C$ strengthens despite drop in oil prices TORONTO: The Canadian dollar strengthened to a six-day high against its US counterpart on Tuesday despite a drop in oil prices and soft domestic data, while attention turned to a speech by Federal Reserve Chair Janet Yellen.The currency extended its recovery from its weakest level last week at C$1.3296. Still, it is 1.9 percent weaker than on March 18, which it reached its strongest level in nearly five-months at C$1.2924.Investors will look to Yellen for ...

Markets - FXMM - Americas

Dollar dips, Wall St edges up after U.S. data casts doubt on Fed moves NEW YORK: Wall Street shares rose in choppy trading as the dollar fell following weaker-than-expected U.S. economic data on Monday that cut expectations of a near-term interest rate increase by the Federal Reserve.The dollar reversed earlier gains and moved lower after U.S. consumer spending data indicated a sluggish economy with weak first-quarter gross domestic product growth.Monday's worse-than-expected consumer spending, as well as a downward adjustment to January's numbers and weak readings for personal income and ...

Markets - FXMM - Americas

C$ strengthens as economic data weighs on greenback TORONTO: The Canadian dollar strengthened against its US counterpart on Monday as economic data weighed on the greenback, while Canada's finance minister was optimistic that deficit spending will spur higher domestic economic growth.The US dollar hit session lows against a basket of major currencies after a deep downward revision to US consumer spending for January.Canada's Liberal government believes the federal budget will be balanced in "about" five years due to higher growth spurred by deficit ...