Forex

South Africa's rand slides as lira plunge triggers EM sell-off

17/08 South Africa's rand weakened against the dollar on Friday, tracking its emerging market peers lower as the Turkish lira slid.  Full story

Venezuelan shopkeepers alarmed by Maduro's latest economic moves

00h28 A fter Venezuelan President Nicolas Maduro's 60-fold increase to the minimum wage, storeowners on Saturday wrestled with an anguishing decision: Close up shop or hit customers with steep price hikes at the risk of. . .  Full story

Rouhani to appear before Iranian parliament soon, says lawmaker

18/08 An Iranian lawmaker said on Saturday that President Hassan Rouhani would appear before parliament on Aug. 28 to answer questions on his government's handling of Iran's economic struggles, but an aide to Rouhani denied a. . .  Full story

Turkey's Erdogan says to challenge "games" on the economy

18/08 A day after two major ratings agencies downgraded Turkey closer to junk status amid a currency crisis, Turkish President Tayyip Erdogan said he would challenge those playing "games" on the economy.. . .  Full story

Maduro orders 96 pct devaluation in hyperinflation-stricken Venezuela

18/08 Venezuela's president Nicolas Maduro announced on Friday a single exchange rate pegged to his socialist government’s petro cryptocurrency, effectively devaluing by 96 percent in a move economists said would fan hyperinflation in the chaotic country.. . .  Full story

Turkey's lira falls 3 pct, Trump won't take pastor's detention 'sitting down'

17/08 Turkey's battered lira weakened 3 percent on Friday after a Turkish court rejected an American pastor's appeal for release, drawing a stiff rebuke from President Donald Trump, who said the United States would not take. . .  Full story

Moody's downgrades Turkey to Ba3, assigns negative outlook

17/08 Moody's cut Turkey's sovereign credit rating deeper into "junk" territory on Friday, citing a weakening of public institutions and the related reduction in the predictability of policy making in a country which is facing a. . .  Full story

S&P lowers Turkey's credit rating deeper into junk territory

17/08 Standard & Poor's said on Friday it had cut Turkey's sovereign credit rating deeper into "junk" territory, citing extreme lira volatility and forecasting a recession next year, adding to the country's woes as it. . .  Full story

Mexico peso up on NAFTA outlook, Brazil stocks dip

17/08 Mexico's peso firmed on Friday after U.S. and Mexican officials said they were close to settling differences in NAFTA trade talks, while Brazilian equities slid on presidential race jitters. Mexico's peso. . .  Full story

Dollar slips as China-U.S. trade worries ebb

17/08 The dollar fell against a basket of peers on Friday, retreating from a 13-month high hit earlier this week, on lower demand for the safe-haven greenback and some profit-taking, as worries about trade tensions. . .  Full story

Argentina president says poverty to rise as economy slumps

17/08 More Argentines are likely living in poverty now compared with last year, President Mauricio Macri said on Friday, as the country's economy slides toward recession following a currency crisis and a severe drought that harmed. . .  Full story

C$ gains as accelerating inflation adds to rate hike bets

17/08 The Canadian dollar strengthened against its U.S. counterpart on Friday after data showing a surge in domestic inflation triggered increased bets on another Bank of Canada interest rate hike as soon as September.. . .  Full story

Turkey's Albayrak, French counterpart discuss U.S. sanctions, cooperation - ministry

17/08 Turkish Finance Minister Berat Albayrak and his French counterpart Bruno Le Maire spoke by phone on Friday and discussed U.S. sanctions steps against Turkey, agreeing to act together in response to such moves, Albayrak's ministry. . .  Full story

Gold gains, but set for biggest weekly loss in over a year

17/08 Gold recovered some ground on Friday as a weakening U.S. dollar relieved pressure on prices, but the precious metal remained near 19-month lows and looked poised for its biggest weekly drop since May 2017.. . .  Full story

Pound sets worst weekly streak against dollar since 2014

17/08 The British pound inched higher on Friday as the dollar fell across the board, and some traders saw a buying opportunity after data this week pointed to the UK economy holding up relatively well.. . .  Full story

Trump says Turkey has acted badly in Brunson case

17/08 U.S. President Donald Trump on Friday said the United States was not going to take Turkey's detention of U.S. Christian pastor Andrew Brunson "sitting down," a day after his Treasury chief said Washington could. . .  Full story

Canadian inflation surges, boosts chances of September rate hike

17/08 Canada's annual inflation rate surged to 3.0 percent in July, its highest level in nearly seven years, raising expectations that the Bank of Canada might raise interest rates again as soon as next month. . .  Full story

Sri Lankan rupee ends weaker, near all-time low

17/08 The Sri Lankan rupee closed weaker and near its all-time low on Friday due to importer dollar demand and foreign outflows from equities and government securities, dealers said.. . .  Full story

Euro zone limping as global trade war escalates

17/08 More evidence that euro zone growth has slowed this year is likely to be seen on Thursday, when surveys are expected to show an escalating global trade war is hurting producers.. . .  Full story

S.Africa's cbank says nationalisation bill won't impact its independence

17/08 South Africa's central bank said on Friday that a proposed amendment bill aimed at nationalising the institution would have no impact on its independence or primary mandate of price stability.. . .  Full story

Nigeria central bank to sell Chinese yuan in second auction -traders

17/08 Nigeria's central bank asked lenders on Friday to submit bids for the Chinese yuan, traders said, in its second auction of the currency after it agreed a swap with the. . .  Full story

Leftists rattle rand with plan to nationalise South Africa's central bank

17/08 Opposition firebrand Julius Malema introduced a bill to nationalise South Africa's central bank, raising pressure on the ruling ANC to go through with a plan it shelved this year and rattling. . .  Full story

ANALYSIS-Tide about to turn for markets as easy-money decade ends

17/08 Swept along by super-easy money, investors have debated for years how world markets will react when this central bank largesse inevitably ends. Now the liquidity tide is about to turn, and they have only. . .  Full story

Currencies edge up cautiously, eyes still fixed on Turkey

17/08 Central European currencies firmed slightly on Friday as the Turkish lira, whose plunge sent jitters across emerging markets earlier this week, regained some more ground. The forint and the leu firmed. . .  Full story

Growing trade risks may soon sour foreign appetite for Asian bonds

17/08 Foreigners turned net buyers of Asian bonds in July after three monhts of aggressive selling, but the esalating trade dispute between China and the United States and Turkey's economic crisis paint a gloomy outlook. . .  Full story

Emerging stocks set for worst week since Feb, Turkey tumbles

17/08 Emerging equities were set for their worst week since February after sliding into bear territory while currencies came under fresh pressure on Friday, with Turkey's lira taking another tumble despite central bank measures earlier in. . .  Full story

Kenyan shilling weakens due to importer dollar demand

17/08 The Kenyan shilling eased against the dollar on Friday due to demand from oil and merchant importers, traders said.. . .  Full story

Pound holds above $1.27, buoyed by dollar weakness

17/08 The British pound rose on Friday as the dollar fell across the board and some traders saw an opportunity to buy sterling after data this week pointed to an UK economy holding up relatively. . .  Full story

Most Asian currencies extend lira relief rally, China's yuan weak

17/08 Most Asian currencies firmed on Friday as the Turkish lira recovered and investors scanned the horizon for cues from Sino-U.S. negotiations. News of proposed negotiations between Beijing and Washington lifted spirits. . .  Full story

S.Korean stocks end higher on China-U.S. trade talks; won gains

17/08 Round-up of South Korean financial markets: ** South Korea's KOSPI stock index ended higher on Friday after China and the United States agreed to hold their first trade talks since June next week and as. . .  Full story

Yuan on course for 10th week of losses as more U.S. tariffs loom

17/08 China's yuan inched up against the U.S. dollar on Friday after the central bank surprised markets with a slightly firmer official midpoint, but still looked set for a record 10th straight weekly loss.. . .  Full story

Thai Q2 growth seen slowing to 1 pct q/q as tourism, manufacturing decelerate

17/08 Thailand's economic growth in was expected to slow in the second quarter from January-March, a Reuters poll showed, as exports remained strong but manufacturing and tourism lost momentum.. . .  Full story

Australia, NZ dlrs find a ledge of support but downside beckons

17/08 The Australian and New Zealand dollars held above recent lows on Friday as China sought to stabilise its yuan and strains in emerging markets eased for a moment, though risks still looked to be. . .  Full story

S.Korea stocks, won climb on China-U.S. trade talks, lira recovery

17/08 Round-up of South Korean financial markets: ** South Korea's KOSPI stock index and the won strengthened on Friday after China and the United States agreed to hold. . .  Full story

U.S. says more sanctions await if Turkey does not free pastor

17/08 The United States warned Turkey on Thursday to expect more economic sanctions unless it hands over detained American pastor Andrew Brunson, as relations between the two countries took a further turn for the worse.. . .  Full story

Nvidia forecast lags Wall Street as crypto demand evaporates

17/08 Nvidia Corp shares fell as much as 5 percent in after-hours trading on Thursday after the chip maker said cryptocurrency-fueled demand had dried up and it forecast sales below Wall Street targets, overshadowing quarterly results. . .  Full story

Russia faces higher debt costs due to US sanctions - ACRA rating agency

16/08 Russia will lose investors and face higher borrowing costs if the United States imposes a ban on investors buying new Russian government bonds, the Kremlin-backed Analytical Credit Ratings Agency (ACRA) said in a report on. . .  Full story

C$ dips ahead of CPI report as Keystone XL suffers setback

16/08 The Canadian dollar edged lower against its U.S. counterpart on Thursday as a planned oil pipeline from Alberta to Nebraska met with a setback, but the currency held within its recent range ahead of. . .  Full story

Stocks, emerging market currencies rise on planned U.S.-China trade talks

16/08 U.S. stocks and emerging market currencies rebounded on Thursday after China said it will hold trade talks with the United States this month and Turkey's lira continued its recovery.. . .  Full story

Turkey will emerge stronger from lira crisis despite row with U.S. -minister

16/08 Finance Minister Berat Albayrak assured international investors on Thursday that Turkey would emerge stronger from its currency crisis, insisting its banks were healthy and signalling it could ride out a dispute with the United States.. . .  Full story

Argentina central bank hikes reserve requirements, eyes China swap

16/08 Argentina's central bank said on Thursday it hiked reserve requirements by 3 percentage points for the country's largest banks, as it tries to keep its plan for reducing short-term debt from adding to already. . .  Full story

Dollar dips, yuan rises on U.S.-China trade talks

16/08 The U.S. dollar slipped below a 13-1/2 month peak on Thursday, while the Chinese yuan recovered from its weakest level since January 2017 on news China and the United States will hold a new. . .  Full story

Egypt central bank keeps overnight interest rates steady

16/08 Egypt's central bank left its main interest rates unchanged on Thursday, saying a second quarter of strong GDP growth and an expected decline in inflation to single digits meant its monetary targets were on. . .  Full story

Trump's latest boost to the dollar: U.S.-Turkey spat

16/08 President Donald Trump has repeatedly called for a weaker U.S. dollar in a bid to help U.S. exporters, but his recent trade policies, including the imposition of import tariffs on some Turkish goods, have. . .  Full story

U.S. says ready with more sanctions if Turkey does not free pastor

16/08 U.S. Treasury Secretary Steven Mnuchin said on Thursday the United States was ready to put further economic sanctions on Turkey if detained American pastor Andrew Brunson was not released.. . .  Full story

STATEMENT

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Free fish for forex: Istanbul restaurant joins currency campaign

16/08 Istanbul's beloved fish sandwiches, a staple street food in the Bosphorus city, are being offered for free to Turks who heed President Tayyip Erdogan's call to sell their dollars for lira.. . .  Full story

South African rand surrenders gains as economy concerns weigh

16/08 South Africa's rand surrendered its earlier gains in late trade on Thursday due to lingering concerns over the economy, while a rebound in market heavyweight Naspers brought some relief on the. . .  Full story

Turkey's Albayrak tells investors the country will emerge stronger

16/08 Turkish Finance Minister Berat Albayrak hosted a conference call with global investors on Thursday in a bid to reassure them that policymakers are able to tackle the worst currency crisis the country has suffered. . .  Full story

Sterling edges off 14-month lows but Brexit checks gains

16/08 Sterling edged up from 14-month lows on Thursday but it gains were marginal despite strong British retail sales with the currency hamstrung by fears over Britain leaving the European Union.. . .  Full story

Turkey finmin's reassurances win cautious welcome from investors

16/08 Nervous investors gave a cautious thumbs-up on Thursday to a carefully choreographed presentation by Turkey's new finance minister, Berat Albayrak, after he promised not to bring in capital controls in response to its currency crisis.. . .  Full story

LatAm currencies rebound on U.S.-China talks, lira recovery

16/08 Latin American currencies bounced back on Thursday as traders were relieved by news China would hold trade talks with the United States this month while Turkey's lira currency continued to rebound.. . .  Full story

Currencies regain ground as lira calms down, caution remains

16/08 Central European currencies regained some ground on Thursday, benefiting from a calmer Turkish lira after jitters earlier this week that spilled over into other emerging markets. The currencies have often eased. . .  Full story

Pakistan reserves decrease $216 mln to $10,153 mln week ending Aug 10

16/08 Pakistan's foreign exchange reserves decrease $216 million to $10,153 million in the week ending Aug 10, compared to $10,369 million in the previous week, central bank said on Thursday. RESERVES. . .  Full story

Turkey's Albayrak says will navigate through U.S. sanctions with other partners

16/08 A lot of countries across the globe are facing the problem of U.S. sanctions and the response to that should be a coordinated one, Turkish finance minister Berat Albayrak told an investor conference call. . .  Full story

Turkey will stand by its public banks if needed, Albayrak says

16/08 Turkey's government will stand by its public banks if they need help, Finance Minister Berat Albayrak said on Thursday.. . .  Full story

Turkey not expecting fines on Halkbank, Albayrak says

16/08 Turkey is not expecting any fines against state-owned Halkbank, Finance Minister Berat Albayrak said on Thursday.. . .  Full story

Albayrak says Turkey government will see certain expenditure cuts

16/08 Turkish Finance Minister Berat Albayrak said on Thursday the government will see certain expenditure cuts and the revenue side was showing positive performance.. . .  Full story

Turkey has no IMF plans, Albayrak says

16/08 Turkey has no plans to go to the IMF for support over its currency crisis, Finance Minister Berat Albayrak said on Thursday.. . .  Full story

Capital controls not on agenda, Turkey's Albayrak says

16/08 Turkey has never implemented non-market measures and capital controls will never be on the agenda, Finance Minister Berat Albayrak said on Thursday.. . .  Full story

Albayrak says Turkey will not compromise on fiscal discipline

16/08 Finance Minister Berat Albayrak said on Thursday that Turkey will not compromise on fiscal discipline and reducing inflation is a top priority.. . .  Full story

Albayrak says Turkey won't hesitate to support banking sector

16/08 Finance Minister Berat Albayrak said on Thursday Turkey won't hesitate to provide support to the banking sector, which was capable of managing current volatility, and there has not been major deposit flow from banks lately.. . .  Full story

Trump hails U.S. dollar strength in tweet

16/08 U.S. President Donald Trump praised the strength of the U.S. dollar on Thursday after the greenback reached a 14-month high against a broad basket of other currencies a day earlier.. . .  Full story

Albayrak says Turkey will come out of volatility stronger

16/08 Finance Minister Berat Albayrak said on Thursday Turkey fully understood and recognised all its domestic challenges and will come out of the current market volatility stronger.. . .  Full story

Asia Rice-Dip in Indian rates on rupee weakness dulls Vietnam offers

16/08 Rice export prices in India fell this week as the rupee weakened, with the drop in rates from the top exporter also weighing on demand for the Vietnamese variety.. . .  Full story

Lebanon banks suck in dollars to maintain peg, but economy stagnates

16/08 Lebanese banks are pulling out the stops to bring in dollars as the country strives to preserve a two-decade old currency peg, offering high returns to customers willing to change their hard currency into. . .  Full story

Tide about to turn for markets as easy-money decade ends

16/08 Swept along by super-easy money, investors have debated for years how world markets will react when this central bank largesse inevitably ends. Now the liquidity tide is about to turn, and they have only. . .  Full story

AFRICA-FX-Most African currencies under pressure

16/08 The currencies of Ghana, Zambia and Uganda are likely to trade on the back foot in the coming week but those of Nigeria and Kenya may hold steady.. . .  Full story

Sri Lankan rupee hits record low for second session on importer demand

16/08 The Sri Lankan rupee hit an all-time low for a second straight session on Thursday, as importers bought dollars amid fears the local currency could depreciate further tracking weakness in emerging-market currencies, dealers said.. . .  Full story

Indonesia unveils upbeat 2019 budget under shadow of market pressures

16/08 Indonesia's president unveiled on Thursday a higher 2019 growth target for Southeast Asia's biggest economy and said the government had reacted quickly to maintain stability after turbulence in emerging markets.. . .  Full story

ANALYSIS-If rupee slump persists, it can hurt India's Modi

16/08 The rupee's plunge to a record low has worried a wide cross-section of India's society: companies, importers, those going on vacation and students planning to study overseas. But if the weakness persists, Prime Minister Narendra. . .  Full story

China cbank bars some offshore lending in latest move to support yuan

16/08 China has banned banks in its ground-breaking free trade zones from certain lending activities to ease pressure on the yuan currency in offshore markets, two sources with direct knowledge of the matter said on. . .  Full story

Sterling stuck near 14-month low despite strong retail data

16/08 Sterling languished near 14-month lows on Thursday, and strong British retail sales did little to support the currency hamstrung by fears about Britain leaving the European Union.. . .  Full story

Henkel trims profit outlook on emerging market currency woes

16/08 German consumer goods company Henkel lowered its full-year earnings forecast after weak emerging market currencies and costlier raw materials dented quarterly results, sending its share price down 3 percent.. . .  Full story

Asia Coffee-Indonesia, Vietnam muted amid currency rout

16/08 Asia's coffee markets adopted a wait-and-watch approach on Thursday as global coffee prices tumbled after the Brazilian real weakened in a global rout in emerging market currencies, traders said.. . .  Full story

Norway central bank keeps rates on hold, repeats plan to hike in Sept

16/08 Norway's central bank kept its main policy interest rate unchanged at a record low 0.50 percent on Thursday, as expected, and reiterated plans for a September increase, in line with its earlier forecast.. . .  Full story

Bears maul emerging-market stocks; lira extends rally

16/08 Emerging-market equities languished in bear territory on Thursday, shrugging off the prospect of new trade talks between China and the United States, while Turkey's lira extended its rally.. . .  Full story

S.Korean stocks, won weaken amid Turkey, China concerns

16/08 Roundup of South Korean financial markets: ** South Korea's KOSPI stock index weakened on Thursday tracking declines in Chinese market, while fears of the Turkey crisis and an economic slowdown in China dented investor sentiment. The. . .  Full story

China Jan-July FDI up 2.3 pct y/y - commerce ministry

16/08 Foreign direct investment (FDI) into China increased 2.3 percent in the first seven months this year to 496.7 billion yuan ($72.03 billion), compared with the same year-earlier period, China's Ministry of Commerce said on Thursday.. . .  Full story

COLUMN-Dollar surge, EM turmoil echo Greenspan's 1998 'oasis of prosperity' warning: McGeever

16/08 "It is just not credible that the United States can remain an oasis of prosperity unaffected by a world that is experiencing greatly increased stress," opined Alan Greenspan almost exactly 20 years ago.. . .  Full story

Most Asian currencies strengthen; hopes pinned on U.S.- China talks

16/08 Most Asian currencies strengthened on Thursday, with the Chinese yuan leading the gains, after news of proposed Sino-U.S. negotiations sparked hopes of a trade war armistice. China's Ministry of Commerce. . .  Full story

Yuan firms on hopes for Sino-U.S. trade talks, spike in offshore forwards

16/08 China's yuan firmed 0.5 percent against the U.S. dollar on Thursday on signs of possible easing in tensions between Beijing and Washington as they agreed to hold trade talks late this month.. . .  Full story

Indonesia urges exporters to use FX earnings to support rupiah

16/08 Indonesia's government has made a fresh appeal to the country's exporters to exchange their holdings of foreign currencies to help support the tumbling rupiah, as Turkey's financial crisis sparks fears of emerging market contagion.. . .  Full story

Japan c.bank may tolerate yield rises to around 0.4 pct - ex-BOJ executive

16/08 The Bank of Japan may allow long-term interest rates to creep up to around 0.4 percent under new guidance introduced last month, which lays the groundwork for "stealth" rate hikes, the central bank's former. . .  Full story

Blockchain benefits still murky for most commodities trading

16/08 Commodity firms and banks have been diving into blockchain pilot schemes over the last two years but the new technology's application for most trading has likely been over-hyped, a report by Boston Consulting Group (BCG). . .  Full story

Australia, NZ dollars get a reprieve, but commodities pose a risk

16/08 The Australian and New Zealand dollars got a break from selling on Thursday as the crisis engulfing Turkey's lira calmed for a moment, though the outlook was darkened anew by losses in commodities ranging. . .  Full story

Indian rupee hits record low in opening trade

16/08 The Indian rupee dropped to a record low in opening deals on Thursday with investor sentiment affected by a widening trade deficit on the domestic front and the broad rise in the U.S. dollar. . .  Full story

Turkey must commit to policies to promote stability amid market volatility-IMF

16/08 Turkey should commit to sound economic policies to promote stability and reduce imbalances at a time of market volatility, an IMF spokesperson said on Wednesday as a row between Washington and Ankara over the jailing. . .  Full story

S.Korea stocks, won fall in line with Asia

16/08 Round-up of South Korean financial markets: ** South Korea's KOSPI stock index and the Korean won tumbled on Thursday, tracking declines in other Asian markets, while investors. . .  Full story

Japan's holdings of U.S. Treasury debt fall to lowest since 2011

16/08 Japan scaled back its holdings of U.S. government debt in June to the lowest level since 2011, as foreigners collectively dumped the most Treasuries in a single month since late 2016, U.S. Treasury Department. . .  Full story

Some emerging markets pare U.S. Treasury holdings in June -data

16/08 Some emerging market countries pared their holdings of U.S. Treasuries in June, data from the U.S. Treasury department showed on Wednesday, in what analysts viewed as a move to support their currencies as the. . .  Full story

Qatar to aid Turkey, currency rallies but U.S. says tariffs to stay

15/08 The United States on Wednesday ruled out removing steel tariffs that have contributed to a currency crisis in Turkey even if Ankara frees a U.S. pastor, as Qatar pledged $15 billion in investment to. . .  Full story

Emerging markets lead global stocks lower, commodities sink

15/08 Equities around the world took a dive led by emerging market stocks on Wednesday and commodities tumbled as investors looked for safety due to worries about China and Turkey.. . .  Full story

Mexico peso, LatAm stocks hit by Turkey jitters

15/08 Mexico's peso sank by the most in over two months on Wednesday as Latin American equities and currencies were rattled by jitters over Turkey that led to a global sell-off in emerging market assets. . .  Full story

C$ lags G10 currencies as oil prices and stocks slide

15/08 The Canadian dollar weakened against its U.S. counterpart on Wednesday to lag many other "G10" currencies, as oil prices fell and a 13-month high for the greenback pressured emerging markets and global stocks.. . .  Full story

China, Japan cut U.S. Treasuries holdings in June -data

15/08 China and Japan reduced their holdings of U.S. government debt in June as foreigners dumped the most Treasuries in a single month since late 2016, data from the Treasury Department showed on Wednesday.. . .  Full story