04302016Sat
Last update: Sat, 30 Apr 2016 04am

Europe

Markets - FXMM - Europe

Sterling recovers from Brexit and trade gap bashing LONDON: Sterling bounced almost half a percent against the euro and dollar on Monday, with the conviction of some investors that June's Brexit referendum is reasonably priced in helping cool concerns over a record current account gap. The pound had fallen to a more than two-year low against a trade-weighted basket in early trade, down around 2 percent since current account numbers last Wednesday showed the deficit surging to 7 percent of national output at the end of last year. Global investors worry that leaving the EU would threaten the huge foreign investment flows Britain needs to fund its current account deficit, one of the biggest in the developed world at around 5 percent of gross domestic product. But the currency, hammered since December by worries over the vote, was bought back from mid-morning in London. Dealers said some of those short-term traders who had sold the pound last week ...

Markets - FXMM - Europe

Sterling trade-weighted index hits lowest since Dec' 2013 LONDON: Sterling fell to a more than two-year low against a trade-weighted basket on Monday, hurt by persistent worries about a possible British exit from the European Union.With Britons due to vote in a referendum on June 23, an online survey by pollster Opinium for Sunday's Observer newspaper showed 43 percent support for Britain to leave the EU, ahead of 39 percent support for staying within the bloc.That followed an online poll by TNS released ...

Markets - FXMM - Europe

Falling commodity prices give struggling dollar a fillip LONDON: The struggling dollar edged up from a 5-1/2-month low on Monday, helped by a fall in oil and copper prices that weakened commodity-related currencies and gave the U.S. currency a foothold after its worst week in two months.The biggest loser among developed-world currencies was the New Zealand dollar, closely linked to commodity prices and which fell 0.9 percent against its U.S. counterpart. The Aussie dollar was down 0.7 percent.Gains against those commodity currencies helped ...

Markets - FXMM - Europe

Dollar struggles to recover after worst week in 2 months LONDON: The dollar struggled to recover on Monday after its worst week in two months, with Friday's strong U.S. labour market report having failed to change the market view that the Federal Reserve will only raise interest rates once this year, if at all.The greenback had climbed the week before last after several Fed officials indicated investors could expect at least two hikes this year. But Fed Chair Janet Yellen poured cold water on those ...

Markets - FXMM - Europe

Rouble sinks with oil as doubts grow about oil production freeze MOSCOW: The Russian rouble fell sharply on Monday morning, following down crude prices which have slid in recent days as prospects dimmed that a planned production freeze by major oil producers will go ahead.At 0755 GMT, the rouble was 1.8 percent weaker against the dollar at 68.79 and had lost 1.7 percent to 78.23 versus the euro.Brent crude oil, a global benchmark for Russia's main export, was down 0.9 percent at $38.9 a barrel, following ...

Markets - FXMM - Europe

Sterling trade-weighted index hovers at lowest since Dec' 2013 LONDON: Sterling fell on Monday, trading at more than a two-year low against a trade-weighted basket, hurt by persistent worries about a possible British exit from the European Union.With Britons due to vote in a referendum on June 23, an online survey by pollster Opinium for Sunday's Observer newspaper showed 43 percent support for Britain to leave the EU, ahead of 39 percent support for staying within the bloc.That followed an online poll by TNS ...

Markets - FXMM - Europe

C$ weakens on oil slump, solid US data; losses pared TORONTO: The Canadian dollar slipped versus the greenback on Friday as oil prices slumped and after stronger-than-expected US jobs data, but the currency pared losses as markets doubted the Federal Reserve will surrender its cautious stance.The Canadian dollar settled at C$1.3014 to the greenback, or 76.84 US cents, weaker than Thursday's close of C$1.2987, or 77.00 US cents.It had touched its weakest in three days at C$1.3147 earlier in the session, after appreciating 6.5 percent ...