05302016Mon
Last update: Mon, 30 May 2016 08am

Europe

Markets - FXMM - Europe

Russian rouble stronger as Brent rises over $50/bbl MOSCOW: The Russian rouble traded stronger early on Thursday, helped by the Brent crude price rising over $50 a barrel and a slightly weaker US dollar on global markets. At 0715 GMT, the rouble was 0.4 percent stronger against the dollar at 65.22 and had gained 0.3 percent to trade at 72.87 versus the euro.Brent, a global benchmark for Russia's main export, rose over $50 for the first time in nearly seven months.It was up 0.6 percent at around $50.1 a barrel by 0715 GMT, boosted after US government figures showed a sharper-than-expected drawdown in crude stocks last week."We expect that if Brent stabilises over $50 a barrel, then the rouble will overcome the psychological level of 65 to the dollar," analysts at Rosbank said in a note.They cautioned, however, that uncertainty over how the US Federal Reserve will act on monetary policy could obstruct further strengthening in the rouble.The ...

Markets - FXMM - Europe

Sterling 1-mth hedging costs at 7-year high as Brexit vote looms LONDON: The cost of hedging against sharp swings in sterling over the next month rose to seven-year highs on Thursday as options contracts rolled over to capture the date of the result of the British vote on the European Union. With less than a month to go before the vote, expectations are growing that Britain will opt to stay in the EU. Nevertheless, hedge funds and asset managers are not taking chances by seeking to ...

Markets - FXMM - Europe

Serbia's central bank sells euros to support dinar BELGRADE: The Serbian central bank sold euros on the local interbank market on Thursday to support the dinar, which remained weak a day after the institution sold 15 million euros to bolster the domestic currency, dealers said. The central bank, which keeps the dinar in a managed float versus the euro, began selling as the dinar traded at a rate of around 123.15, roughly the same as a day earlier.Dealers said the pressure on the ...

Markets - FXMM - Europe

Sterling hits 3-1/2-month high as Brexit risk seen fading LONDON: Sterling climbed to a 3-1/2-month high against the euro on Wednesday as several bookmakers shortened the odds on Britain voting to stay in the European Union to 1/7, indicating around an 85 percent chance of that outcome.Most economists and strategists reckon a vote to leave - or a "Brexit" - at a referendum on June 23 would deal a blow to Britain's economy and would send sterling tumbling.Ratings agency S&P said on Wednesday that ...

Markets - FXMM - Europe

Dollar at 2-month highs on rate view, Greek deal helps euro LONDON: The dollar hit a two-month high against a basket of currencies on Wednesday on expectations the Federal Reserve will raise rates in the near term, but it gave up gains against the euro on relief that there was progress in Greek bailout talks.Euro zone finance ministers early on Wednesday gave a nod to releasing 10.3 billion euros in new funds for Greece in recognition of painful fiscal reforms pushed through by Prime Minister Alexis ...

Markets - FXMM - Europe

Russian assets rally with oil and risk appetite MOSCOW: The Russian rouble and stock indexes opened higher on Wednesday, helped by a recovery in the oil price and global risk appetite.At 0810 GMT, the rouble was 0.5 percent stronger against the dollar at 65.87 and had gained 0.3 percent to 73.45 versus the euro.Brent crude oil, a global benchmark for Russia's main export, was up 1.6 percent at $49.4 a barrel, after a U.S. industry survey indicated a larger-than-expected fall in crude inventories."The ...

Markets - FXMM - Europe

Sterling rallies as bookies shorten odds of Britain staying in EU LONDON: Sterling rose to a 3-1/2-month high against the euro on Wednesday as several bookmakers shortened the odds on Britain voting to stay in the European Union to 1/7, indicating around an 85 percent chance.Another poll came out showing the "In" and "Out" camps neck-and-neck in the run up to the June 23 referendum on Wednesday, but investors are increasingly relying as much on bookmakers and punters as the pollsters, the established trackers of political ...