08252016Thu
Last update: Thu, 25 Aug 2016 02pm

Europe

Markets - FXMM - Europe

Sterling slides amid better but backward-looking GDP data LONDON: Sterling slipped against the dollar and euro on Wednesday despite second-quarter UK growth data that was stronger but too backward-looking to have much impact on the currency.Helped by the biggest upturn in industrial output since 1999, Britain's economy grew by 0.6 percent, up from 0.4 percent in the first three months of 2016, during a second quarter that ended with a vote to leave the European Union.Sterling was trading at around $1.31 at 0900 GMT, half an hour after the numbers were published, leaving it down 0.2 percent on the day but more than 3 cents above a 31-year low hit earlier in the month, before it was clear who Britain's next prime minister would be in the wake of the Brexit referendum."It's always difficult to tell where you're going by looking in the rear-view mirror, and as such today's GDP figures can't be taken as evidence of the ...

Markets - FXMM - Europe

Yen hit by scale of fiscal plan, new bond issue talk LONDON: Signs of a larger than previously expected fiscal stimulus plan for Japan had the yen back on the defensive on Wednesday, as investors bet the Bank of Japan (BOJ) would match that with a new bout of money-printing aimed at weakening its currency.Yen volatility has neared record highs in the past month on speculation, repeatedly denied by officials, that the BOJ will take the next step in eight years of emergency policymaking by handing ...

Markets - FXMM - Europe

Sterling slips to 2-week low as BoE's Weale turns dovish LONDON: Sterling hit a two-week low on Tuesday after a Bank of England policymaker said a batch of weak UK data would be "very material" for the bank's next policy meeting, having last week said he needed more evidence of economic weakness before backing an interest rate cut.While stopping short of openly backing a cut in interest rates or quantitative easing (QE), Martin Weale said in a Financial Times interview that last week's purchasing managers' ...

Markets - FXMM - Europe

Sterling treads water after gloomy CBI survey LONDON: Sterling trod water on Monday after a survey painted a subdued picture of Britain's manufacturing sector, underpinning the view that a recession could hit in the near future and that the Bank of England will need to further ease monetary policy.Sterling has tumbled almost 12 percent against the dollar since Britons voted to leave the European Union last month. Investors are worried that "Brexit" will have negative consequences on the economy and in particular ...

Markets - FXMM - Europe

Russian rouble edges down with oil; taxes curb losses MOSCOW: The Russian rouble edged down early on Friday as oil prices fell slightly, but losses were checked by dollar sales for upcoming tax payments. At 0710 GMT, the rouble was 0.3 percent weaker against the dollar at 64.55 and had lost 0.2 percent to trade at 71.14 versus the euro.Brent crude oil, a global benchmark for Russia's main export, was down 0.5 percent at just under $46 a barrel."The rouble has become visibly more ...

Markets - FXMM - Europe

Sterling firm, awaits flash PMI surveys for impact of Brexit LONDON: Sterling climbed on Friday, awaiting surveys of Britain's manufacturing and service sectors which will give investors their first glimpse of business activity after the shock vote to leave the European Union. The purchasing managers' surveys will gauge the initial impact on the economy from the EU referendum result after data on Thursday showed the biggest monthly decline in British retail sales for six months in June.Sterling was 0.1 percent higher against the dollar at ...

Markets - FXMM - Europe

Sterling weaker after disappointing UK retail sales data LONDON: Sterling fell against the dollar and the euro on Thursday after data showed the biggest monthly decline in British retail sales for six months in June, keeping alive expectations that the Bank of England will ease policy as early as next month.Sales volumes fell 0.9 percent, more than the forecast 0.6 percent, after rising by an above-average 0.9 percent in May. Compared with a year earlier, sales growth slowed to 4.3 percent from 5.7 ...