01162017Mon
Last update: Mon, 16 Jan 2017 05pm

Europe

Markets - FXMM - Europe

Euro jumps above $1.07, shrugging off Italian referendum defeat      LONDON: The euro jumped above $1.07 for the first time since mid-November on Monday, rebounding around 2 cents after hitting 21-month lows after Italy's prime minister conceded defeat in a referendum on constitutional reform and said he would resign.  The single currency slid as much as 1.4 percent in Asian trade to $1.0505, its weakest since March 2015, as investors fretted Matteo Renzi's departure would lead to more political instability in the currency union.  By 1225 GMT, though, it had recovered all of those losses and was up around half a percent on the day at $1.0701.  The bounce was chiefly down to over-extended bets against the euro, traders said, with investors choosing to cash in gains and lighten their short positions ahead of Thursday's European Central Bank policy meeting.  "I think the euro is going to strengthen a lot now. I think it is way oversold," said Nick D'Onofrio, chief executive at London-based hedge fund North Asset Management.  Markets broadly expect ...

Markets - FXMM - Europe

Russian rouble performance mixed; shares edge higher MOSCOW: The Russian rouble was mixed early on Monday, falling slightly against the dollar but rising against the euro, while Moscow-listed shares rose for a fourth straight session.At 0808 GMT, the rouble was less than 0.1 percent weaker against the dollar at 63.88 but had gained 0.6 percent to trade at 67.77 versus the euro.The rouble rose against the euro after the European single currency fell after Italian Prime Minister Matteo Renzi said he would resign following a defeat in a ...

Markets - FXMM - Europe

Russian rouble dips as oil comes off multi-month highs MOSCOW: The Russian rouble dipped slightly in early trade on Friday as oil ticked lower, and Russian stocks fell after hitting a record high overnight.  At 0720 GMT, the rouble had lost 0.3 percent to fall to 64.17 against the dollar and was down 0.6 percent against the euro to trade at 68.5..The moves reflected a slide in Brent crude futures, a global benchmark for Russia's main export. They were down 0.7 percent at $53.55 a barrel.The decline in oil ...

Markets - FXMM - Europe

Sterling drifts lower, unmoved by Vlieghe message LONDON: Sterling drifted lower against both the dollar and euro on Monday, with dealers citing one substantial late morning order as having moved currency rates in a session dominated by a correction to recent dollar gains. The euro, also helped initially by Sunday's victory for Francois Fillon in the French right's presidential primary, was 0.3 percent higher against sterling after racking up its worst run of weekly losses against the pound since early 2015 last ...

Markets - FXMM - Europe

Dollar steadies after oil slip, stocks remain groggy LONDON: The dollar steadied after its biggest fall in almost a month on Monday, as doubts about a long-mooted OPEC output cut unsettled oil markets and "Trumpflation" trades that have gripped investors since the US election. Crude prices stumbled into the red as Wall Street prepared for a lower opening after the post-Thanksgiving weekend and both European and Japanese shares had difficult starts to the week. Concerns about the fallout from Italy's constitutional referendum this ...

Markets - FXMM - Europe

Turkey has plans to make lira more attractive to investors ANKARA: Turkey has concrete plans to make its lira currency more attractive to investors and will act to facilitate trade and payments in the currency, Deputy Prime Minister Numan Kurtulmus said on Monday. Kurtulmus also told a news conference that the government was optimistic the dollar would see some easing ahead. The lira has been battered by both the resurgent dollar following Donald Trump's election victory in the United States and domestic security worries in ...

Markets - FXMM - Europe

Dollar retreats from peaks, euro boosted by Fillon win LONDON: The dollar extended its losses on Monday, retreating from its highest levels since 2003 as U.S. Treasury yields eased from recent peaks.The greenback had surged more than 4 percent against a basket of currencies in the wake of Donald Trump's shock victory in the U.S. elections, with investors reckoning a Trump administration would see an expansion of fiscal policy, boosting inflation and pushing up interest rates.But after hitting an almost 14-year-high of 102.05 on ...