05022016Mon
Last update: Mon, 02 May 2016 01pm

Europe

Markets - FXMM - Europe

Sterling jumps above $1.44 for first time this month LONDON: Sterling jumped above $1.44 on Tuesday for the first time this month as nerves about a possible Brexit were soothed a little by two polls showing the "In" camp well ahead in the run-up to Britain's referendum on European Union membership.A string of recent surveys had shown a drift towards the "Out" camp ahead of the June 23 ballot, leaving the outcome too close to call. But polls from ICM and ORB late on Monday gave the campaign to remain in the bloc a lead of eight and 11 points respectively.Helped also by a strong recovery in oil prices and risk sentiment, sterling soared by more than 1 percent to hit $1.4420 in afternoon trading in London, its highest since March 31.Britain's hefty current account deficit makes investors wary of the currency at times of market turbulence, while strong risk appetite drives demand for the pound.But after Bank of ...

Markets - FXMM - Europe

Rouble strengthens as oil market shrugs off Doha talks failure MOSCOW: The Russian rouble strengthened on Tuesday, buoyed by firmer oil prices which have shrugged off the failure of global producers to agree an expected output freeze on Sunday.At 0830 GMT, the rouble was 0.7 percent stronger against the dollar at 65.65 and had gained 0.6 percent to 74.40 versus the euro.Brent crude oil, a global benchmark for Russia's main export, was up 1.2 percent at $43.40 a barrel, similar to its level on Friday ...

Markets - FXMM - Europe

Commodity currencies at 10-month highs as oil boosts risk sentiment LONDON: Commodity currencies like the Australian and New Zealand dollars soared to 10-month highs against the U.S. dollar, drawing support from oil prices which stabilised from a slide and underpinned broad risk sentiment in global markets.The Australian dollar rose to $0.7803, its highest since last June and up 0.6 percent on the day. Similarly, the New Zealand dollar jumped 1 percent to $0.7028, its highest in 10 months.The oil-linked Canadian dollar hit its highest since ...

Markets - FXMM - Europe

Sterling net shorts hit 3-year high on Brexit worries LONDON: Speculators increased their short positions on sterling to the highest level in almost three years in the week to last Tuesday, data from the Commodity Futures Trading Commission has shown, on worries over the impact of a Brexit on the currency.Net short sterling contracts rose to 51,310 in the week to April 12, the highest since June 2013, as investors added to their bearish bets on the pound for a fourth straight week.Concerns that ...

Markets - FXMM - Europe

Sterling makes minor recovery as stocks rise, Brexit fears check gains LONDON: Sterling staged a minor recovery on Monday as world stock markets rose and on increased demand for higher-yielding currencies, including the pound, although uncertainty over the prospect of Britain exiting the European Union checked gains.Traders said a rally in stock markets helped a sterling rebound against the safe-haven yen and the lower-yielding euro.Sterling was up 0.2 percent at $1.4250, having fallen to $1.4132 at the start of the European session, while the euro was ...

Markets - FXMM - Europe

Sterling weakens on Brexit worries, souring risk sentiment LONDON: Sterling fell on Monday, hurt by uncertainty over the prospect of Britain exiting the EU and worsening global risk appetite which led investors away from higher-yielding currencies and into low-yielding and safe-haven ones like the yen.British finance minister George Osborne said a vote to quit the European Union in a referendum on June 23 would leave the economy 6 percent smaller by 2030 than if it stayed in the bloc. The Treasury is due ...

Markets - FXMM - Europe

Rouble weakens as oil price fall batters producers LONDON: The rouble fell as much as 3 percent against the dollar on Monday, and emerging stocks' seven-day long winning streak ended after oil producers' failure to reach a deal on curbing output pushed crude prices lower.Brent crude futures sank as much as 4.5 percent to about $41 a barrel after a deal to freeze output at January levels fell apart when Saudi Arabia demanded that Iran join in."Reality finally dawned ... that the Saudis ...