07022016Sat
Last update: Sat, 02 Jul 2016 01am

Europe

Markets - FXMM - Europe

Russian rouble strengthens after oil price stabilises MOSCOW: The rouble strengthened on Thursday morning after a firming of the oil price on Wednesday, following heavy falls in the Russian currency on Monday and Tuesday when crude prices tumbled.At 0740 GMT the rouble was 1.8 percent stronger against the dollar at 62.75, and 1.6 percent stronger at 73.70 against the euro.The rouble fell over 10 percent on Monday and Tuesday tracking tumbling prices for oil, Russia's major export. The Moscow Exchange was closed on Wednesday when international oil benchmark Brent firmed above $50 a barrel, helped by an unexpected fall in U.S. oil stocks.Brent was down slightly on Thursday but holding just above $51 per barrel."USD/RUS can't find the strength to go below the 60-level, and it is all the fault of the Brent price," Forex Club analyst Alena Afanasieva said in a note."However... if the level of $50 a barrel turns out to be a sufficiently strong ...

Markets - FXMM - Europe

Russian rouble opens up against dollar MOSCOW: The Russian rouble strengthened against the dollar at market opening on Friday after a firming of the oil price, following heavy falls in the rouble on Monday and Tuesday.At 0705 GMT the rouble was 0.8 percent stronger against the dollar at 62.75.Copyright Reuters, 2014 ...

Markets - FXMM - Europe

Euro slide not over as pressure grows on ECB LONDON: The euro's slide is not yet over because diverging monetary policies at the European Central Bank and the United States Federal Reserve will sink the currency to levels not seen since late 2003, a Reuters poll found.Fears that cheap oil will tip the now 19-member bloc into a deflationary spiral have increased calls for the ECB to take urgent action, possibly as soon as the Governing Council's Jan. 22 meeting.Conversely, the Fed is widely ...

Markets - FXMM - Europe

Sterling drops below $1.51, lowest in nearly 18 months LONDON: Sterling fell to near 18-month lows against the dollar on Wednesday after robust U.S. data pointed to an improving labour market there while investors pushed back expectations of an interest rate hike in Britain.Signs Britain's economic recovery may be losing steam have prompted investors to push back the estimated timing of a first Bank of England interest rate rise into next year. Six months ago, many expected a move before the end of 2014.But ...

Markets - FXMM - Europe

Euro hits 9-year low as euro zone prices fall for first time since 2009 LONDON: The euro fell to a new nine-year low against the dollar on Wednesday after data showed the euro zone prices falling for the first time since 2009, piling pressure on the European Central Bank to take bold policy action.Eurozone consumer prices fell by a worse-than-expected 0.2 percent annually in December because of much cheaper energy.One measure of core inflation that ECB members have favoured in the past and excludes volatile energy and unprocessed food ...

Markets - FXMM - Europe

Zloty seen leading CEE fx recovery, rate cuts a risk BUDAPEST: Central Europe's economic resilience is expected to help its currencies recover in 2015 after a weakening in recent weeks, according to a Jan. 5-7 Reuters poll of 24 analysts.Even so, anaemic inflation across Europe will continue to pose risks to the currencies by fuelling expectations for central bank interest rate cuts, analysts said.The Polish zloty has hit 2-1/2-year lows and the Hungarian forint 3-year lows against the euro in the past weeks as domestic ...

Markets - FXMM - Europe

Euro slides to 9-year low as risk of deflation looms LONDON: The euro hit another nine-year low against the dollar on Wednesday as investors braced for inflation numbers that should give doves at the European Central Bank a clear mandate for bolder policy stimulus.Data due at 1000 GMT is expected to show the first annual fall in consumer prices since the depth of the global financial crisis in 2009, piling pressure on the ECB to launch a full-scale quantitative easing programme - effectively the printing ...