06302016Thu
Last update: Thu, 30 Jun 2016 11am

Europe

Markets - FXMM - Europe

Rouble weaker on oil, rate cut expectations MOSCOW: The Russian rouble opened weaker on Friday, tracking a decline in oil prices and on expectations the central bank will cut its key policy rate, denting profits of investments in the currency. At 0720 GMT, the rouble was 0.6 percent weaker against the dollar at 64.71 and had also lost 0.6 percent to trade at 73.19 versus the euro.The central bank is to announce its rate decision at 1030 GMT, with the market broadly expecting a 50 basis point cut, which would be the first policy easing in nearly a year."A reduction in the key rate reduces the attractiveness of the currency and, as a rule, contributes to its weakening," Alexander Grichenkov, an analyst at MFX Broker, wrote in a note, saying the rouble is probably going to weaken further on Friday.However, ING economist Dmitry Polevoy said in a note that the impact on the rouble from a possible ...

Markets - FXMM - Europe

Yen, dollar gain on safe haven plays LONDON: A grim mood on global financial markets sent investors searching for the traditional security of the dollar and yen on Thursday, driving both higher against a euro weakened by the prospect of prolonged low inflation and negative interest rates. A 1.5 percent surge for the New Zealand dollar after interest rates there were kept on hold had been by far the biggest move on major currency markets in Asian trading and early in Europe's ...

Markets - FXMM - Europe

Swiss franc hits seven-week high on safe-haven flows LONDON: The Swiss franc hit a seven-week high against the euro on Thursday, as investors flocked towards safe havens on worries that Britain will vote to leave the European Union at a referendum in two weeks' time. Though odds offered by betting websites and bookmakers point towards a vote for Britain to remain in the EU, polls have not offered a clear picture of what the outcome of the June 23 ballot might be. Investors ...

Markets - FXMM - Europe

Poland talks down zloty, bond auctions robustly bid BUDAPEST: Central European currencies weakened on Thursday as the Polish government talked down the zloty and Romania reported a rise in its trade deficit just after it raised public-sector wages.But auctions of Hungary, Poland and Romania's high-yielding government bonds drew healthy demand as risk appetite fell in global markets, with Japan leading a decline by stocks in Asia and Europe.Yields dropped and Hungary and Romania sold more bonds than planned .Hungary's 10-year debt traded at ...

Markets - FXMM - Europe

Ruble rocks up to seven-month high MOSCOW: Russia's ruble hit a seven-month high Thursday on the back of rising oil prices, bolstering calls for the central bank to cut its main interest rate at a meeting Friday.The ruble strengthened to around 63.40 against the dollar -- its best since November -- and 72.27 to the euro before weakening back slightly.The recovery comes as the price of oil -- a major source of income for Russia's energy-dependant economy -- has nearly doubled ...

Markets - FXMM - Europe

Crisis-era red flag from dollar FX market flies high again LONDON: A shortage of dollars and high demand for the currency globally are stretching certain dollar-based rates to levels more associated with periods of extreme market stress, raising a red flag for the wider financial system. Record-low investment returns are forcing investors in the euro zone and Japan to buy US bonds, which is having the negative and potentially costly effect of depressing US yields and the profitability of the country's banks. On the surface, ...

Markets - FXMM - Europe

Yen, dollar gain on safe haven plays LONDON: A grim mood on global financial markets sent investors searching for the traditional security of the dollar and yen on Thursday, driving both higher against a euro weakened by the prospect of prolonged low inflation and negative interest rates. A 1.5 percent surge for the New Zealand dollar after interest rates there were kept on hold had been by far the biggest move on major currency markets in Asian trading and early in Europe's ...