02112016Thu
Last update: Thu, 11 Feb 2016 05am

Americas

Markets - FXMM - Americas

C$ slumps most in 2 weeks amid global caution TORONTO: The Canadian dollar weakened by the most in more than two weeks against its US counterpart on Monday, hurt by a sharp fall in Chinese shares that weighed on commodity-linked currencies and global stock markets.The loonie, as Canada's currency is colloquially known, slumped to its lowest level against the Japanese yen since December 2012 as traders piled into the traditional low-risk currency after disappointing Chinese factory data sparked a selloff.Chinese factory activity contracted for the 10th month running in December, adding to headwinds for commodity exporters such as Canada.Canada's manufacturing sector meanwhile contracted for the fifth straight month as activity fell to a record low in December, data showed.The price of oil, a major Canadian export, fell after an early rally as concern about Middle East tensions gave way to worries about slowing global economic growth."The year is starting out no different than the way we left it, with ...

Markets - FXMM - Americas

Yen rallies on global stock market rout after Chinese data NEW YORK: The Japanese yen rose broadly on Monday, as traders piled into the traditional low-risk currency after disappointing Chinese factory data sparked a selloff on global stock markets.The yen rose to an 11-week high against the dollar and climbed to a level not seen since April versus the euro."It's your classic risk-off move and you have your safe-haven play in the yen," said Alberto Boquin, FX macro strategist at J.P. Morgan Private Bank in ...

Markets - FXMM - Americas

Dollar gains over 9pc against basket of major rivals in 2015 NEW YORK: The dollar ended 2015 with a more than 9 percent annual gain against a basket of currencies on Thursday, despite falling in December, with portfolio rebalancing from asset managers leading the currency higher in thin trading.Riding a rally dating to May 2014, the greenback has appreciated by a quarter in value against a basket of currencies and by 22 percent against the euro. For the year, the greenback rose over 10 percent against ...

Markets - FXMM - Americas

C$ rises with oil, closing out worst year since 2008 TORONTO: The Canadian dollar rose on Thursday against its US counterpart as crude oil prices rallied, ending a year in which it weakened by 16 percent and delivered its worst performance since the global financial crisis of 2008.Corporate buying interest added to support for the currency in thin markets, according to Don Mikolich, executive director, foreign exchange sales at CIBC Capital Markets.Foreign exchange desks were expected to close early ahead of the New Year's Day ...

Markets - FXMM - Americas

Dollar on track for more than 9pc gain in 2015 NEW YORK: The dollar was set to end 2015 with a more than 9 percent annual gain against a basket of currencies on Thursday, despite a small decline in December, with portfolio rebalancing from asset managers leading the currency higher in thin trading.Riding a rally dating back to May 2014, the greenback has appreciated by a quarter in value against a basket of currencies and by over 20 percent against the euro. For the year, ...

Markets - FXMM - Americas

C$ edges higher, but set to fall 16 percent for 2015 TORONTO: The Canadian dollar edged higher on Thursday against its US counterpart after weaker-than-expected US data trimmed gains for the greenback against a basket of major currencies, trading in a tight range ahead of the New Year's Day holiday.The loonie, as Canada's currency is colloquially known, is on track to fall more than 16 percent in 2015, pressured by deep losses for crude oil prices and two rate cuts from the Bank of Canada, while ...

Markets - FXMM - Americas

C$ weakens as crude oil prices slide TORONTO: The Canadian dollar weakened against its US counterpart on Wednesday, pressured by slumping crude oil prices, although the currency maintained its recent holding pattern ahead of the New Year's Day holiday on Friday."We are seeing the correlation with oil and the Canadian dollar hold pretty tight," said Scott Smith, senior market analyst at Cambridge Global Payments in Calgary.Reduction in risk appetite added to pressure on commodity currencies, including the Canadian dollar, according to Smith.An ...