05242016Tue
Last update: Tue, 24 May 2016 06pm

Asia

Markets - FXMM - Asia

Commodity-linked currencies surge on more confident mood TOKYO: Commodity-linked currencies surged on Tuesday as market sentiment improved after disappointment over failed oil talks gave way to hope for the global economy.The more buoyant mood provided strong support to higher-yielding, riskier units, pushing the Australian dollar to around its highest level in 10 months against its US counterpart."The risk environment has turned positive," Sim Moh Siong, a foreign-exchange strategist at Bank of Singapore, told Bloomberg News."This is why commodity currencies have outperformed with the dollar on a weaker footing, and (the) dollar-yen (rate is) inching up to benefit from the risk-on."World markets were already enjoying buying last week following a series of upbeat readings from China -- including on trade, investment and factory activity -- suggesting a long-running growth slowdown in the country may be bottoming out.Energy-linked currencies were well up against the greenback. The Australian dollar climbed 0.33 percent, buying 77.75 US cents in Tokyo -- around ...

Markets - FXMM - Asia

Sri Lanka 5-day rupee forwards end weaker on dollar demand COLOMBO: Sri Lankan five-day rupee forwards ended weaker on Monday as importer dollar demand surpassed greenback sales by exporters, while dollar sales by a state bank limited the fall, dealers said.The forwards, known as spot next and which acts as a proxy for the spot currency, ended at 145.85/146.00 per dollar weaker from Friday's close of 145.20/40."Rupee ended weaker on lack of liquidity. There were no conversions from remittances and exporters; but the moderate demand ...

Markets - FXMM - Asia

China's yuan weakens on robust corporate dollar demand SHANGHAI: The yuan edged lower on Monday despite the central bank setting a firmer official guidance rate, as traders reported robust dollar demand from industrial companies."There was a bout of heavy dollar buying right after the trade open," said a trader at a Chinese commercial bank in Shanghai. "And the trend continued while state banks were believed to stay on the sidelines."As the economy slows, damping investment opportunities at home, Chinese companies have rushed to ...

Markets - FXMM - Asia

Yen rallies, emerging currencies dive after oil talks fail TOKYO: The yen rallied on Monday in Asia while emerging currencies slumped after the collapse of weekend talks between key producers in Doha aimed at capping output.Hopes had been high that a deal could be reached to address a global crude glut that has hammered the commodity for the past two years, battering world markets and energy companies.But Saudi Arabia said it would not take part in a collective freeze that did not include major ...

Markets - FXMM - Asia

Commodity currencies hit hard, yen climbs after Doha disappoints SYDNEY/SINGAPORE: Commodity currencies slumped on Monday while the safe-haven yen soared after major oil producers failed to agree on an output freeze, sending oil prices tumbling anew. The Canadian dollar and its Australian counterpart were both marked more than 1 percent lower to as low as C$1.2986 per US dollar and $0.7594 earlier on Monday. Canada's loonie last traded at C$1.2953, still down about 1 percent on the day, while the Aussie was down 0.7 ...

Markets - FXMM - Asia

Yen falls on speculation of BoJ intervention TOKYO: The yen fell against the dollar on Friday, heading for its biggest weekly fall in over two months over expectations the Bank of Japan may soon expand its already massive monetary easing programme. Speculation has been mounting that BoJ Governor Haruhiko Kuroda will be forced to unleash a fresh round of stimulus to boost the stalling economy and drive up inflation. The BoJ took the unprecedented step of introducing negative interest rates in January, ...

Markets - FXMM - Asia

China March new yuan loans rise to 1,370bn yuan, beating forecasts BEIJING: Chinese banks extended 1,370 billion yuan ($211.23 billion) in net new yuan loans in March, exceeding analyst expectations and the previous month's lending of 726.6 billion yuan. The central bank said the broad M2 money supply (M2) grew at 13.4 percent from a year earlier, just missing forecasts.Outstanding yuan loans grew 14.7 percent by month-end on an annual basis.Analysts polled by Reuters had expected outstanding loans to rise by 14.5 percent, and predicted the ...