Forex

Virgin Money South Africa plans bank account, expansion for fintech app

19/06 Virgin Money South Africa will launch a zero monthly fee bank account and cheap cross-border payments on its financial technology app, and could eventually roll this out in other developing markets, its CEO told Reuters.  Full story

Most Asian currencies firm as Fed's easing signals hobble dollar

06h24 Most Asian currencies edged higher on Thursday after the U.S. Federal Reserve flagged possible interest rate cuts later this year at its policy meeting, putting the dollar on the defensive. While. . .  Full story

NZ Q1 GDP growth steady, but soft underbelly keeps more rate cuts on table

06h03 New Zealand's economy expanded at a steady pace in the first quarter, thanks to solid construction activity, but policymakers are expected to cut rates again before year-end to underpin growth in the face of. . .  Full story

Stocks rally, bond yields plunge as Fed fuels rate cut hopes

05h23 A gauge of global stock markets rose on Thursday while the dollar dropped and global bond yields plunged, with the 10-year U.S. yield falling below two percent, after the Federal Reserve signalled possible interest. . .  Full story

S.Korea stocks steady on Fed's expected stance; won hits 6-week high

04h41 Round-up of South Korean financial markets: ** South Korea's KOSPI index traded flat early on Thursday after the U.S. Federal Reserve indicated. . .  Full story

Australia's central bank flags lower rates in jobs hunt

04h37 Australia's top central banker on Thursday said it was not "unrealistic" to expect a further reduction in interest rates given ample slack in the labour market, and called on the government for action on. . .  Full story

Dollar on defensive after Fed signals readiness to cut rates

02h46 The dollar was on the defensive on Thursday after the Federal Reserve signalled it was ready to lower interest rates to combat growing global and domestic risks.. . .  Full story

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Facebook called before U.S. Senate panel over digital currency project

19/06 Facebook Inc's plans to create a global cryptocurrency will face scrutiny from the U.S. Senate Banking Committee on July 16, the latest sign that policymakers around the globe are casting a wary eye on. . .  Full story

Stocks gain, dollar weakens after Fed signals possible rate cuts

19/06 A gauge of global stock markets strengthened on Wednesday, bolstered by gains on Wall Street, and benchmark U.S. Treasury yields and the dollar dropped after the Federal Reserve signaled possible interest rate cuts over the. . .  Full story

Latam FX firm as Fed meets expectations on rate cut signals

19/06 Latin American currencies firmed on Wednesday, with Brazil's real and Mexico's peso reversing session losses to trade higher after the Federal Reserve signaled possible rate cuts of as much as half a percentage point in. . .  Full story

Argentina economy starts 2019 in reverse with 5.8% drop

19/06 Argentina's economy contracted 5.8% in the first quarter of 2019, the country's statistics agency said on Wednesday, a reflection of the biting recession that has hammered domestic consumption and production.. . .  Full story

Dollar drops after Fed holds rates steady, risk assets gain

19/06 The dollar weakened on Wednesday and risk assets benefited after the U.S. Federal Reserve announced it held interest rates steady in June, but signaled a possible rate cut by the end of the year.. . .  Full story

Sterling rises for a second day before central bank meeting

19/06 The pound rallied more than half a percent on Wednesday as investors trimmed their short bets before the Bank of England's policy meeting on Thursday where it may strike a relatively more confident tone. . .  Full story

Markets see long fight ahead as ECB battles low inflation expectations

19/06 Mario Draghi's dramatic Tuesday hints of further monetary easing by the European Central Bank has stabilized collapsing euro zone inflation expectations, but the departing ECB chief will struggle to calm market fears of Japan-style economic. . .  Full story

Nigeria debt office says may tap Eurobonds after all

19/06 Nigeria may issue Eurobonds if necessary to help finance its 2019 budget, the debt office said on Wednesday, a day after its head said no such move was planned.. . .  Full story

U.S.-China trade war - the levers they can pull

19/06 The trade war between the United States and China has gone beyond tariffs as the countries increase pressure on each other to cede ground. U.S. President Donald Trump and Chinese. . .  Full story

Turkey fights on several fronts to defend lira

19/06 Turkey has marshalled its state lenders and central bank to curb a selloff in the lira since late March that echoed last year's full-blown currency crisis, which tipped the Turkish economy into recession.. . .  Full story

Loonie rallies as hotter inflation clips rate cut bets

19/06 The Canadian dollar strengthened to a five-day high against its U.S. counterpart on Wednesday, as investors reduced bets on a Bank of Canada interest rate cut this year after domestic data showing greater-than-expected inflation.. . .  Full story

Sri Lanka stocks at more than 6-week high on foreign buying; rupee gains

19/06 Sri Lankan shares closed at a more than six-week high on Wednesday, boosted by foreign inflows into equities, while the rupee ended slightly firmer on dollar sales by exporters. ** The benchmark stock index ended. . .  Full story

Kenyan shilling firms, helped by flows from horticulture exports

19/06 The Kenyan shilling strengthened against the dollar on Wednesday on the back of inflows from horticulture exports and non governmental organizations, traders said.. . .  Full story

Sterling rises for a second day as central banks turn dovish

19/06 The pound edged higher for a second day on Wednesday, breaking a six-week losing streak, as investors trimmed some large short bets against the British currency built up in recent weeks.. . .  Full story

South African consumer inflation subdued, upping rate cut chances

19/06 South African inflation stayed well within the central bank's target range in May, making it more than two years since it last breached the ceiling, raising the possibility of a rate. . .  Full story

CEE currencies edge lower, all eyes on Fed

19/06 Central European currencies eased marginally on Wednesday in cautious trade ahead of the outcome of a U.S. Federal Reserve policy meeting, with little impact from ECB chief Mario Draghi's unexpectedly strong hints about more stimulus.. . .  Full story

Stocks, currencies firm up ahead of U.S. Fed outcome

19/06 Emerging market stocks rose on Wednesday, while developing world currencies broadly firmed against the dollar as investors counted on the U.S. Federal Reserve's outlook later today to match their expectations of lowering U.S. borrowing costs.. . .  Full story

South African rand retreats from 2-week high, eyes on CPI and Fed

19/06 South Africa's rand retreated from a two-week high in early trade on Wednesday ahead of domestic consumer price inflation data and the U.S. Federal Reserve's closely-watched policy decision.. . .  Full story

S.Korean stocks end firmer on revived hopes of trade truce

19/06 Round-up of South Korean financial markets: South Korea's KOSPI index ended higher on Wednesday as U.S. President Donald Trump's decision to meet his Chinese counterpart Xi Jinping this month rekindled optimism after a long lull. The. . .  Full story

Turkish lira weakens on report detailing possible U.S. sanctions

19/06 The Turkish lira weakened on Wednesday after Bloomberg said the United States is considering sanctions that could target Turkish defence companies, cutting them off from the U.S. financial system over Ankara's purchase of a Russian. . .  Full story

Swiss need more time to clinch EU treaty - foreign minister

19/06 Switzerland's political system of painstaking consensus-building requires more time to strike a deal with the European Union on a new treaty, Foreign Minister Ignazio Cassis said, suggesting no quick resolution to a potentially damaging log-jam.. . .  Full story

Japan says G20 summit to debate trade including WTO reform

19/06 Substantial discussions on trade, including reform of the World Trade Organization, will likely take place at a summit of Group of 20 major economies next week in Osaka, a senior Japanese finance ministry official. . .  Full story

Yuan hits 3-week high as Trump, Xi revive trade talks

19/06 The yuan advanced to its strongest level in over three weeks after China and the United States said they will return to the negotiating table, reigniting hopes for a deal to end a heated. . .  Full story

China's small banks turn to exchanges for cash as money markets tighten

19/06 China's smaller banks and brokers are turning to stock exchanges to borrow short-term cash this week to escape the typical end of June pressure in money markets and more recent worries over credit risks. . .  Full story

Asian currencies advance, fueled by U.S.-China trade talks

19/06 The rekindling of U.S.-China trade talks, along with hopes and expectations of lower U.S. interest rates and monetary easing in Europe helped most Asian currencies advance on Wednesday, with units of export driven economies leading. . .  Full story

In shift, economists now split over BOJ's next move

19/06 In a shift reflecting growing concerns about Japan's economy, economists are now split over whether the central bank will next unwind - or further loosen - its ultra-easy monetary policy.. . .  Full story

Australia, NZ dlrs get reprieve as policy pressure shifts to Fed

19/06 The Australian and New Zealand dollars steadied and bond yields hit historic lows on Wednesday as investors wagered many more central banks elsewhere would soon join the global easing train.. . .  Full story

China c.bank to issue offshore bills to keep yuan stable ahead of G20

19/06 China's central bank said on Wednesday it will sell 30 billion yuan ($4.35 billion) worth of yuan-denominated bills in Hong Kong on June 26, a move that is expected to drain liquidity and support. . .  Full story

S.Korea stocks jump on U.S.-China trade optimism

19/06 Round-up of South Korean financial markets: ** South Korea's KOSPI index rose more than 1% on Wednesday as investors cheered the news. . .  Full story

Facebook's cryptocurrency ambitions face privacy concerns, political backlash

18/06 Facebook Inc announced ambitious plans on Tuesday to launch a new global cryptocurrency called Libra, part of an effort to expand into digital payments that immediately raised privacy concerns.. . .  Full story

U.S. lawmaker calls for Facebook to pause cryptocurrency project

18/06 A leading U.S. House lawmaker on Tuesday called on Facebook Inc to halt development on its new cryptocurrency and for company executives to testify before Congress, adding to global concerns about what the digital currency. . .  Full story

Senior U.S. lawmaker says Facebook should halt cryptocurrency project pending review

18/06 U.S. House Financial Services Committee Chairwoman Maxine Waters said Tuesday that Facebook Inc should halt development of its announced cryptocurrency until Congress and regulators conduct a review.. . .  Full story

Stocks lifted by hopes for monetary policy, U.S.-China trade

18/06 Global stocks rallied on Tuesday and benchmark government bond yields tumbled after European Central Bank President Mario Draghi hinted at economic stimulus, with equities getting an extra boost from confirmation that U.S. President Donald Trump. . .  Full story

Brexit campaigner Boris Johnson advances on Britain's top job

18/06 Brexit campaigner Boris Johnson took a step closer to becoming Britain's next prime minister on Tuesday, winning 40 percent of votes in the second round of a contest on a firm promise to. . .  Full story

Latam stocks, FX rise; Argentine stocks scale record high

18/06 Latin American stocks and currencies surged on Tuesday with a dovish boost from the European Central Bank and positive headlines from the U.S.-China trade tensions boosting sentiment. MSCI's index of Latin. . .  Full story

Dollar stalled amid Fed meeting; dovish Draghi depresses euro

18/06 The U.S. dollar was little moved on Tuesday as traders held off making large bets before the Federal Reserve's policy announcement on Wednesday.. . .  Full story

Gold pares gains on U.S.-China trade war optimism

18/06 Gold prices pared gains on Tuesday after U.S. President Donald Trump confirmed he would meet with Chinese President Xi Jinping at an international summit, fanning hopes for a quick end to the U.S.-China trade. . .  Full story

Sterling stuck near 5-month lows as Johnson cements lead in race to become PM

18/06 Sterling barely budged from near five-month lows after arch-Brexiteer Boris Johnson was confirmed as the frontrunner to become Britain's next prime minister on Tuesday.. . .  Full story

Draghi's stimulus hints put ECB in Trump's crosshairs

18/06 The European Central Bank will ease policy again if inflation fails to accelerate, ECB President Mario Draghi said on Tuesday, signalling one of the biggest policy reversals of his eight-year tenure and provoking the ire. . .  Full story

BoE's Carney says keeping open mind on Facebook's Libra

18/06 Bank of England governor Mark Carney has said he is keeping an 'open mind' on the potential utility of Facebook's planned cryptocurrency, but warned it may face strict regulation if it takes off.. . .  Full story

German 10-yr yield slumps to -0.30% on Draghi's stimulus klaxon

18/06 German government bond yields hit record lows deep in negative territory and French 10-year yields turned negative for the first time on Tuesday after the European Central Bank chief said there would be more. . .  Full story

Rand rallies as Ramaphosa set to give more support for Eskom

18/06 South Africa's rand rallied in late trade on Tuesday after the government signalled it will give additional support to power firm Eskom and as emerging currencies were lifted by expectations the. . .  Full story

State cyber-attack poses big danger for UK banks - Bank of England

18/06 A state-backed cyber-attack could secretly corrupt the records of British financial institutions over a period of months, posing a risk that banks would probably struggle to guard against on their own, a senior Bank of. . .  Full story

Morocco cenbank holds benchmark interest rate at 2.25%

18/06 Morocco’s central bank kept its benchmark interest rate unchanged at 2.25 percent on Tuesday, saying current borrowing costs were consistent with medium-term inflation and growth outlook.. . .  Full story

Loonie little changed, pares earlier drop as oil price rallies

18/06 The Canadian dollar was little changed on Tuesday, paring earlier losses after slipping to a two-week low against the greenback, as a rally in oil prices offset domestic data showing an unexpected drop in. . .  Full story

Sterling heads for 2019 lows as Johnson in pole position in UK leadership contest

18/06 Signs that arch-Brexiteer Boris Johnson may be a step closer to becoming Britain's next prime minister sent the pound tumbling to a five-month low versus the euro on Tuesday and towards $1.25 as investors. . .  Full story

Nigeria has no plans to go to eurobond market this year

18/06 Nigeria has no plans to return to the eurobond market this year, after a sixth outing in November raised $2.86 billion, the head of the debt office said on Tuesday.. . .  Full story

Sri Lanka stocks at 1-week low on foreign selling; rupee weakens

18/06 Sri Lankan shares dropped to a one-week low on Tuesday as foreign investors exited from the island nation's risky assets, while the rupee ended weaker on dollar demand from importers. ** The benchmark stock index. . .  Full story

Trump blasts comments by ECB's Draghi, cites unfair competition

18/06 U.S. President Donald Trump criticized European Central Bank President Mario Draghi's comments earlier on Tuesday that further monetary policy changes may be needed by the ECB, saying that would spark unfair European competition against the. . .  Full story

Swiss regulator says in contact with initiators of Facebook's Libra

18/06 Switzerland's financial regulator FINMA said on Tuesday that it is in contact with the "initiators" of Libra, Facebook's planned cyrptocurrency.. . .  Full story

Japanese insurers wait for cheaper dollar as U.S. rate-cut pressure builds

18/06 Japan's life insurers are holding out for the possibility that the Federal Reserve's first rate cut in more than a decade will afford them better levels at which to be buying the U.S. dollar.. . .  Full story

Investors await Fed, digest dovish Draghi comments

18/06 Central European markets remained relatively calm on Tuesday, as traders held fire ahead of a meeting of U.S. rate-setters, but dovish comments from European Central Bank chief Mario Draghi sent Polish bond yields lower.. . .  Full story

Emerging market assets gain ahead of U.S. Fed meeting

18/06 Emerging market stocks were set to snap a four-day losing run on Tuesday, while developing world currencies edged firmer against the dollar as cautious optimism crept into markets ahead of the start of the. . .  Full story

Facebook's new cryptocurrency Libra and digital wallet Calibra

18/06 Facebook Inc revealed plans to establish a cryptocurrency called Libra on Tuesday. It will be run by an association comprised of other corporate investors and non-profit members, with an expected launch in the first half. . .  Full story

S.Korean stocks snap 4 sessions of losses; all eyes on Fed, Trump

18/06 Round-up of South Korean financial markets:. . .  Full story

China keeps yuan on even keel ahead of Fed, options in demand on G20 jitters

18/06 China's yuan held largely steady against the dollar on Tuesday as the central bank once again set a firmer-than-expected official guidance rate, but most investors kept to the sidelines ahead of this week's U.S. Federal. . .  Full story

Most Asian currencies becalmed ahead of Fed decision

18/06 Most emerging Asian currencies held in a narrow range on Tuesday, reflecting investors' caution ahead of a U.S. Federal Reserve meeting that is expected to lay the groundwork for a rate cut later this. . .  Full story

Australia dollar hits fresh 5-month low as RBA flags further easing

18/06 The Australian dollar slipped to fresh five-month lows on Tuesday after the country's central bank reiterated that a further easing in interest rates would likely be needed to revive wage growth and inflation.. . .  Full story

S.Korea stocks rise modestly amid caution ahead of Fed

18/06 Round-up of South Korean financial markets: ** South Korea's KOSPI index edged higher on Tuesday amid caution ahead of the U.S. Federal. . .  Full story

China holdings of U.S. Treasuries in April skid to nearly 2-year low

17/06 China's holdings of U.S. Treasury bonds and notes for the month of April fell to the lowest level since May 2017, data from the U.S. Treasury department showed on Monday, highlighting an uncertain outlook on. . .  Full story

Blockchain startup Ripple buys $30 mln stake in MoneyGram

17/06 Blockchain firm Ripple has bought $30 million worth of shares and warrants in MoneyGram International Inc, the two companies said on Monday, as they partner to use Ripple's product for cross-border payment and foreign exchange. . .  Full story

Stocks, yields dip with Fed meeting on tap

17/06 A gauge of global stock markets dipped slightly on Monday after a mostly strong month and benchmark U.S. bond yields edged lower as investors awaited developments this week from central banks in the United. . .  Full story

C$ sticks to narrow range ahead of Fed interest rate decision

17/06 The Canadian dollar was little changed against its U.S. counterpart on Monday, holding near Friday's eight-day low as oil prices fell and investors awaited a Federal Reserve policy meeting later in the week.. . .  Full story

Latam FX dip as dollar comes off lows ahead of Fed outcome

17/06 Latin American currencies slipped on Monday, with Brazil's real giving up early gains, as the dollar came off session lows ahead of a Federal Reserve meeting later this week. The dollar. . .  Full story

Dollar steady ahead of Fed meeting; low chances of June rate cut

17/06 The U.S. dollar was roughly unchanged on Monday, hovering near the two-week high set earlier in the session as investors reconsidered how dovish the Federal Reserve is likely to be at this week's policy. . .  Full story

New Pakistan central bank boss dismisses free floating rupee idea

17/06 Pakistan's new central bank governor Reza Baqir on Monday dismissed the idea of a free floating rupee as he outlined reforms aimed at ending instability in the South Asian economy.. . .  Full story

Pound falls to 5-1/2 month low as Johnson's lead grows

17/06 The pound dived to a near six-month low against the dollar on Monday as concerns grew that arch-Brexiteer Boris Johnson will replace Theresa May as prime minister as he remains far ahead of his. . .  Full story

Czech central banker Dedek sees no reason for rate hike at June 26 meeting

17/06 Czech National Bank board member Oldrich Dedek sees no reason to vote for an interest rate increase next week, because the domestic economy is slowing down and global sentiment is tilted towards easing monetary. . .  Full story

Missing the Target: A timeline of Kuroda-nomics

17/06 The Bank of Japan (BOJ) has postponed the timing for hitting its target of 2% inflation six times since 2013. This timeline tracks the key events and policy changes over the six years since. . .  Full story

Once a backer of the BOJ's price target, Abe turns his back on Kuroda-nomics

17/06 Japanese Prime Minister Shinzo Abe hand-picked the country's central bank chief. But his administration is inching away from Bank of Japan Governor Haruhiko Kuroda's elusive inflation target, seeking to deflect criticism that the signature policy. . .  Full story

Nigerian consumer inflation edges up to 11.4% in May –stats office

17/06 Annual inflation in Nigeria stood at 11.4% in May, compared with 11.37% in April, the National Bureau of Statistics said on Monday.. . .  Full story

Sri Lanka stocks hover near 6-week high as trade turnover zooms; rupee falls

17/06 Sri Lankan shares ended marginally higher on Monday, hovering near a six-week high hit last week, as trade turnover touched a more than four-month high amid continued foreign fund outflows, while the rupee ended weaker. . .  Full story

Hungarian lender MKB's shares start trading in Budapest

17/06 Hungary's MKB Bank, which started trading on the Budapest bourse on Monday, plans to expand its business in the coming years, possibly via acquisitions or increased lending, its chief executive said.. . .  Full story

Assets little changed as investors eye Fed meeting

17/06 Emerging European assets were little changed ahead of a week holding few local developments, with local traders mostly eyeing a U.S. Federal Reserve meeting on Wednesday, which is expected to give indirect clues to. . .  Full story

Emerging market stocks dip; Fed meeting eyed

17/06 Emerging market stocks slipped on Monday, while most developing world currencies traded in narrow ranges against the dollar a day ahead of the start of the U.S. Federal Reserve's keenly anticipated meeting.. . .  Full story

Japan to name Yoshiki Takeuchi as top currency diplomat - sources

17/06 Japan's government is set to tap Yoshiki Takeuchi as vice finance minister for international affairs, its top foreign exchange diplomat whose duties would include arranging any currency interventions, sources with knowledge of the matter told. . .  Full story

S.Korean stocks inch lower ahead of Fed meeting

17/06 Round-up of South Korean financial markets:. . .  Full story

Most Asian currencies weaken ahead of Fed meeting

17/06 Most Asian currencies weakened on Monday as the U.S. dollar drew strength from strong retail sales data that tempered market expectations that the Federal Reserve could cut interest rates this week.. . .  Full story

Yuan steady as PBOC again sets firmer-than-expected fix

17/06 China's yuan was little changed on Monday as the central bank kept its morning guidance rate largely steady, reminding the market of its tight grip on the currency to curb downward pressure.. . .  Full story

Australia, NZ dollars nurse losses, housing data some help

17/06 The Australian and New Zealand dollars huddled near multi-month lows on Monday after their U.S. counterpart got a lift from upbeat domestic data, a stark contrast to disappointing numbers out of major trading partner China.. . .  Full story

S.Korea stocks steady; focus shifts to Fed meet

17/06 Round-up of South Korean financial markets: ** South Korea's KOSPI index was flat on Monday ahead of a Federal Reserve meeting, while investors kept a cautious stance. . .  Full story

Who stands to lose if Swiss-EU treaty talks fail

16/06 More than four years of negotiations have failed to yield a breakthrough on a new treaty between Switzerland and the European Union, by far its biggest trading partner.. . .  Full story

Deadline looms for agreement on Swiss-EU ties

16/06 Swiss ties with the European Union, its biggest trading partner, face a critical test this week as Brussels decides whether the two sides have made enough progress on a stalled draft treaty to head. . .  Full story

Nigeria to shut bank accounts of firms which import FX restricted goods

15/06 Nigeria's central bank said on Friday it will close the bank accounts of firms caught smuggling into the country any goods for which access to foreign exchange has been restricted.. . .  Full story