Americas
Monday, 04 March 2013 22:01
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NEW YORK: The euro remained near a 2-1/2-month low on Monday on rising expectations that euro zone economic worries will push the European Central Bank to cut interest rates sooner than previously anticipated.Although a Reuters poll last week showed economists expected the ECB to keep rates on hold this Thursday, some strategists said euro weakness would persist on growing expectations bank chief Mario Draghi would hint at future cuts.Poor euro zone sentiment and unemployment data since last week could compel the ECB to revise down its outlook for the currency bloc's economy and consider earlier rate cuts, they said.Data on Monday showed euro zone sentiment tumbled in March on renewed political uncertainty in Italy, the euro zone's third-largest economy.Italy's inconclusive election last week also weighed on the currency. Analysts are concerned that without a stable government, the country will be unable to pass reforms required to get its borrowing and ...
NEW YORK: Global equity markets fell and the euro slumped to a two-month low on Friday as weak economic data from Europe and China weighed on prices, but Wall Street stocks rebounded on news of surprisingly strong US manufacturing and consumer sentiment.Government bonds rallied and the dollar rose in safe-haven buying as concerns about imminent US spending cuts and the post-election political stalemate in Rome remained major headwinds for assets considered more risky.Growth in US ...
TORONTO: The Canadian dollar was trading near eight-month lows against the US dollar on Thursday as lackluster US data and ongoing bearish sentiment kept the currency under pressure.The currency weakened after data showed the US economy, the biggest single destination for Canadian exports, barely grew during the fourth quarter. US growth came in below what economists had expected and slipped to the slowest rate since the first quarter of 2011.The US data overshadowed news that ...
NEW YORK: The euro pared gains against the dollar on Wednesday after European Central Bank President Mario Draghi said the bank is far from exiting its accommodative monetary policy.
He added that recovery in the euro zone is going slowly and expects the beginning of that rebound only in the second half of the year.
The euro dropped as low as $1.3083 after Draghi's remarks from about $1.3100 just before. It was last at $1.3090, up 0.2 ...
TORONTO: The Canadian dollar softened to its weakest level in seven months against the US dollar after inflation and retail sales data that came in below forecast.
The Canadian dollar touched C$1.0230 versus the US dollar, or 97.75 US cents, weaker than the C$1.0210, or 97.94 US cents shortly before the data was released. The currency finished Thursday's North American session at C$1.087, or 98.16 US cents.
Copyright Reuters, 2013
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NEW YORK: The euro dropped to a six-week low against the dollar and a three-week trough against the yen on Thursday, weighed by data showing a struggling euro zone economy and by uncertainty ahead of Italy's election at the weekend.
Expectations the Federal Reserve may start reducing US monetary stimulus earlier than thought also helped the dollar gain broadly.
The euro zone purchasing managers' data for February pointed to continued weakness in the region, keeping alive chances ...
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