08262016Fri
Last update: Fri, 26 Aug 2016 01pm

Europe

Markets - FXMM - Europe

Sterling ticks higher after less-dire-than-expected construction data LONDON: Sterling ticked higher on Tuesday after a survey of Britain's construction industry came in slightly better than expected, despite showing the sector shrinking at its fastest pace in seven years.The monthly survey of purchasing managers in the construction sector inched down to the lowest reading since June 2009, well into contraction territory. But the result was better than all forecasts in a Reuters poll of economists.The numbers nevertheless provide another sign that Britain's economy is at risk of recession after June's vote to leave the European Union."The construction PMI is a bit more interesting than usual, in that every post-referendum indicator takes on a bit more significance," said RBC Capital Markets currency strategist Adam Cole.The equivalent survey for the manufacturing sector brought worrying signs on Monday. It had been forecast to replicate the results of a one-off flash poll two weeks ago but instead was even weaker.The construction PMI ...

Markets - FXMM - Europe

Russian rouble mixed in early trade; oil still key MOSCOW: The Russian rouble was mixed early on Tuesday, rising against the dollar but falling against the euro, and analysts said its direction would mainly be determined by oil price movements.At 0725 GMT, the rouble was 0.1 percent stronger against the dollar at 66.82 but had lost 0.3 percent to trade at 74.87 versus the euro.Brent crude oil, a global benchmark for Russia's main export, was up 0.3 percent at around $42.3 a barrel after ...

Markets - FXMM - Europe

Euro hits 5-week high, yen up after stimulus announced LONDON: The euro rose above $1.12 for the first time in more than a month on Tuesday while a cut in Australian interest rates failed to weaken the Australian dollar as the fallout of poor GDP data continued to weigh on the U.S. currency.The yen hit its strongest in three weeks, pushing past 102 yen per dollar for the first time since early July after Japan's cabinet approved a package of spending including 13.5 trillion ...

Markets - FXMM - Europe

Sterling steadies as traders await post-referendum construction survey LONDON: Sterling trod water against the dollar and euro on Tuesday, as traders awaited a survey from the construction sector that will provide more evidence of how Britain's economy is performing since its vote to leave the EU.The equivalent survey of purchasing managers (PMI) in the manufacturing sector for July brought worrying signs on Monday. It had been forecast to replicate the results of a one-off flash poll two weeks ago but instead was even ...

Markets - FXMM - Europe

Sterling inches lower after PMI index dips again LONDON: Sterling pulled back on Monday from highs hit against the dollar late last week, as a manufacturing survey brought more worrying signs on the economy before a Bank of England meeting expected to cut interest rates to a record low. The survey of purchasing managers for July had been forecast to replicate the results of a one-off flash poll two weeks ago. Instead, it was slightly worse, another hint of an economic backlash from ...

Markets - FXMM - Europe

Sterling inches lower after PMI index dips again LONDON: Sterling pulled back on Monday from highs against the dollar hit late last week, as a manufacturing sector survey brought more worrying signs on the economy ahead of a Bank of England meeting expected to cut interest rates to a new record low.The survey of purchasing managers for July had been forecast to replicate the results of a one-off flash poll two weeks ago but was instead slightly worse, another hint of a growing ...

Markets - FXMM - Europe

Sterling treads water as next week's BoE meeting eyed for direction LONDON: Sterling inched up against the dollar on Friday, staying within the ranges in which it has traded for the past two weeks, as investors eyed a Bank of England meeting next week that they expect will yield the first interest rate cut since 2009. Data showing British consumer morale suffered its sharpest drop in more than 26 years in July, the latest sign of increasing economic pessimism following last month's vote to leave the ...