05052016Thu
Last update: Thu, 05 May 2016 07am

Europe

Markets - FXMM - Europe

C$ firms as investors brace for key global events TORONTO: The Canadian dollar strengthened slightly against a broadly weaker US counterpart on Friday as investors braced for key global events over the weekend.Major oil exporters will meet in Doha on Sunday to discuss freezing output around current levels, while market attention also turned to the IMF-World Bank Group spring meetings in Washington."I think it is an appropriate step for tactical names to be squaring up positions ahead of this much event risk," said Jack Spitz, managing director of foreign exchange, National Bank Financial.Oil prices fell as traders and analysts doubted the meeting in Doha will help to clear global oversupply quickly. US crude prices settled at $40.36 a barrel, down 2.75 percent.Canadian home prices and sales rose in March, showing the country's housing market boom still had momentum even as separate factory data suggested an increase in economic growth at the beginning of the year may not be sustainable.Speculators ...

Markets - FXMM - Europe

Sterling steady, investors wary on Brexit campaign LONDON: Sterling was steady on Friday, trading not far from recent lows, and vulnerable to fresh bouts of uncertainty over whether Britain will stay in the European Union.As the official campaign to the June 23 referendum got underway, opinion polls have indicated a tight race between the "Yes" and the "No" camps. Nevertheless, bookmakers are pricing in about a one-in-three chance that Britain will opt out of the union which it joined in 1973. In ...

Markets - FXMM - Europe

Unanimous BoE interest vote can't lift struggling sterling LONDON: A 9-0 vote from the Bank of England to keep interest rates steady quashed speculation that some officials might vote for rate cuts on Thursday, but it offered sterling only a temporary reprieve from Brexit concerns.A tweet by Sky TV's economics editor suggested just over an hour before the decision that two members of the central bank's Monetary Policy Committee were "on the verge" of voting for a further cut in rates from their ...

Markets - FXMM - Europe

Sterling bounces after BoE votes 9-0 to hold rates LONDON: Sterling regained ground on Thursday after Bank of England policymakers voted 9-0 to keep interest rates at a record low of 0.5 percent, quashing speculation ahead of the meeting that one or more members could vote to cut rates.The bank did point to the risks to the economy from a referendum on a EU membership in June but it also hinted that sterling might be expected to recover if Britain votes to stay in ...

Markets - FXMM - Europe

Rouble weakens on oil in thin trade ahead of Putin phone-in MOSCOW: The rouble weakened on Thursday following a retreat in oil prices, with trading thin ahead of President Vladimir Putin's annual phone-in with the nation that may spring surprises. At 0730 GMT, the rouble was 0.5 percent weaker against the dollar at 66.060, after losing nearly 1 percent on Wednesday to become the worst emerging markets currency performer that trading session.The rouble lost 0.1 percent to trade at 74.87 versus the euro.Brent crude oil, a ...

Markets - FXMM - Europe

Dollar gains, eyes on G20, Bank of Canada LONDON: The dollar surged to a two-week high against the euro on Wednesday, as a push of oil prices above $40 a barrel and improved data out of China drew investors into riskier bets than low-yielding assets in Europe and Japan.The euro and yen have gained strongly against the dollar in recent weeks as investors sought traditional safe havens for their money on a darkening outlook for banks and economic growth, underlined again by downgraded ...

Markets - FXMM - Europe

Sterling weak, Brexit-related worries weigh LONDON: Sterling fell on Wednesday, extending the previous day's losses on an opinion poll showing the "Out" campaign in front ahead of a June referendum on whether Britain should remain in the European Union.Major banks expect sterling could lose around a fifth of its value if Britain votes to leave the EU on June 23. The International Monetary Fund waded into the debate saying a British exit from the EU would risk causing "severe global ...