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

Americas

Markets - FXMM - Americas

Dollar edges higher on equities gloom NEW YORK: The safe-haven US dollar rose on Friday, benefiting from a sell-off in equities around the world, as investors fretted about what seemed like overstretched valuations. Global equities fell to two-week lows, triggered by selling on Wall Street on Thursday. That spurred a broad risk-averse environment that led to sell-offs in higher-yielding and emerging market currencies. "Bad news for the world is good news for the dollar," said Steven Englander, managing director and global head of G10 FX strategy, at CitiFX in New York. "Once fears about the equity market intensified, they picked up a more conventional type of mode to buy the dollar." Not that the dollar has been the belle of the ball this year. In fact, the US currency has so far lost 0.6 percent against a basket of currencies in 2014, despite a reduction in asset purchases by the Federal Reserve, a supposedly dollar-positive event. ...

Markets - FXMM - Americas

C$ retreats a bit more; focus on central bank TORONTO: The Canadian dollar pulled back from recent strong gains for a second session on Friday as the market turned its attention to next week's Bank of Canada policy statement.South of the border, data showed producer prices had their largest increase in nine months in March. That report helped the US dollar trim some declines, putting further pressure on the loonie.Since hitting a 4-1/2 year low in mid-March, the Canadian dollar has climbed about 3 ...

Markets - FXMM - Americas

Dollar stumbles as rate hike expectations pushed back NEW YORK: The dollar dropped to three-week lows against the yen and the Swiss franc on Thursday, sliding for a second day after minutes of the Federal Reserve's March meeting disappointed investors who had been positioned for an interest rate increase early next year.The greenback has fallen versus the yen in four of the last five trading days. Against the Swiss franc, the dollar weakened for a fourth straight session on Thursday.A better-than-expected U.S. weekly ...

Markets - FXMM - Americas

Russia's central bank right to shore up rouble short term: World Bank WASHINGTON: Russia's central bank made the right decision to defend the rouble in the short term and prevent excessive volatility in the exchange rate when the Ukraine crisis escalated, a senior official at the World Bank said on Wednesday.The Russian Central Bank was forced in early March to halt its shift towards inflation targeting and instead tame the rouble's fall after Russia seized and annexed Ukraine's Crimea. Since then, the bank has spent nearly $30 ...

Markets - FXMM - Americas

C$ at nearly 3-month high after Fed minutes TORONTO: The Canadian dollar strengthened against the greenback on to its highest level in a nearly three months after minutes from the Federal Reserve's latest policy meeting suggested rate hikes south of the border may not come as soon as some had feared.The minutes sent the Canadian dollar to a session high and propelled it to its fourth straight day of gains. Since hitting a 4-1/2-year low in late March, the Canadian dollar has rebounded ...

Markets - FXMM - Americas

Euro falls as IMF pushes ECB to act on deflation NEW YORK: The euro fell against the dollar on Tuesday as the International Monetary Fund again urged the European Central Bank to take action to head off deflation.IMF chief economist Olivier Blanchard said action was needed "soon", noting that the ECB was already reviewing its options."They are considering a number of measures (including) negative interest rates, quantitative easing, securitization programs of various sources," he told journalist at the launch of the IMF's World Economic Outlook ...

Markets - FXMM - Americas

C$ weakens on consolidation after last week's gains TORONTO: The Canadian dollar weakened against the greenback on Monday as investors consolidated positions, giving back some of the gains the currency made last week after a strong domestic jobs report.In the backdrop was the provincial election in Quebec, with polls closing at 8 p.m. EDT (2400 GMT) on Monday. But with the governing separatist party behind in public opinion surveys, the loonie was not expected to see much impact.The Canadian dollar rose strongly at ...