02082016Mon
Last update: Mon, 08 Feb 2016 04am

Asia

Markets - FXMM - Asia

EM ASIA FX-Weekly Asia FX gains seen ahead of US jobs data SINGAPORE: Most emerging Asian currencies rose on Friday ahead of US jobs data due to be released later in the global day, leaving them set to post another week of gains on speculation that the Federal Reserve will raise interest rates more slowly than previously expected.Investors unwound bearish bets on regional units further as the US dollar wallowed at a 15-week low against a basket of six major currencies.The greenback lost ground following data showing the number of Americans filing for jobless benefits rose more than expected last week.A US nonfarm payrolls (NFP) report due to be released later is expected to show that employers added 190,000 jobs in January, a Reuters poll of economists showed."NFP has to surprise on the upside significantly to put a floor under the USD/Asia. The likelihood of a March hike has fallen quickly to just one-in-ten," said Andy Ji, Asian currency strategist for Commonwealth ...

Markets - FXMM - Asia

South Korean won, shares close up ahead of US payrolls SEOUL: The South Korean won trimmed earlier gains on Friday afternoon, as investors grew cautious ahead of US jobs data which could provide clues on the timing or pace of the Federal Reserve's interest rate rises. The won ended local trade up 0.4 percent at 1,197.4 against the dollar. On a weekly basis, the won skidded 0.1 percent. Seoul shares inched up in subdued trading ahead of the Lunar New Year break. The Korea Composite ...

Markets - FXMM - Asia

Sri Lankan rupee forwards firmer on dollar selling by banks COLOMBO: Sri Lankan rupee forwards traded slightly firmer on Friday as dollar selling by banks surpassed the mild demand for the greenback from importers, dealers said. Rupee forwards have been active since Jan. 27 due to little trading in spot currency with banks reluctant to trade below the 144.00 level amid moral suasion by the central bank. Officials from the central bank were not available for comment.Dealers said one-week rupee forwards, which act as a ...

Markets - FXMM - Asia

Yuan slide haunts Taiwan banks as they face defaults on derivative product TAIPEI: Taiwan's banks are facing losses of millions or possibly billions of dollars from customer defaults on a popular derivative product - falling victim to the unexpected slide in China's currency. The island's financial regulator is scrambling to get a grip on the issue after China surprised global markets in August by devaluing the yuan. It has demanded higher bank provisions against potential losses and punished banks for misselling the product. Taiwan's experience shows the ...

Markets - FXMM - Asia

Dollar struggles ahead of key US jobs report TOKYO: The dollar struggled on Friday as market turmoil and weak global growth boost the chances that the Federal Reserve will delay further rate hikes this year.Currency traders are keeping close tabs on US jobs data later Friday, with a poor reading sure to reinforce fears about weakness in the world's top economy -- after the Fed raised rates for the first time in years in December.Jittery investors have been pushing into the yen as ...

Markets - FXMM - Asia

Dollar recovers some losses after US economic outlook dive TOKYO: The dollar recovered some losses against major peers Thursday after a steep dive in US trading sparked by renewed concerns about the world's top economy.But emerging market currencies kicked higher, with the oil-linked Malaysian ringgit soaring nearly two percent as crude prices rebounded.Dollar selling hit fever pitch in New York as a weak US service sector report -- and a global growth warning by a top Federal Reserve official -- threw into question the ...

Markets - FXMM - Asia

Yen extends gains as oil prices collapse TOKYO: The yen extended its gains in Asia Wednesday and emerging currencies tumbled as traders fled to safe investments on the back of another collapse in oil prices that fuelled fears about the global economy.The plunge in crude to 12-year lows back below $30 has sent shudders through world equity markets, while more weak data on manufacturing out of China and US this week pointed to a sharp slowdown in the two key drivers of ...