Edition:
United States

Richard Leong

UPDATE 1-U.S. commercial paper market size hits 10-month high

Apr 18 2019

NEW YORK, April 18 The amount of U.S. commercial paper outstanding increased to its highest level in 10 months in the latest week, suggesting a broad pickup in corporate demand for short-term credits, Federal Reserve data showed on Thursday.

UPDATE 1-Foreigners buy most U.S. Treasuries since August -data

Apr 15 2019

* China, Japan raise U.S. Treasuries holdings further (Adds background, quote, graphic)

Upbeat data lift dollar; pound slips after Brexit delay

Apr 11 2019

NEW YORK The dollar strengthened against a basket of currencies on Thursday on encouraging U.S. inflation and labor data, while sterling weakened after the European Union allowed Britain to postpone its exit from the bloc for a second time.

U.S. economy 'healthy' from a monetary policy perspective: Fed's Williams

Apr 11 2019

NEW YORK The U.S. economy is in a healthy place "from a pure monetary policy perspective," but there is more work policymakers can do to make sure growth is widely shared, a top Federal Reserve official said on Thursday.

Euro, dollar little changed as Fed, ECB signal patience

Apr 10 2019

NEW YORK The dollar and euro were little changed on Wednesday as the Federal Reserve and the European Central Bank hinted they are willing to leave interest rates alone amid signs of flagging growth and risk from trade tensions.

FOREX-Euro slips as Draghi highlights risks, U.S. CPI helps dollar

Apr 10 2019

* ECB's Draghi points to weak regional data, risks from trade * U.S. CPI posts biggest increase in 14 months * Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh (Updates market action, changes byline, dateline, previous LONDON) By Richard Leong NEW YORK, April 10 The euro fell on Wednesday as European Central Bank President Mario Draghi underscored the risks facing the euro zone economy, reinforcing bets on possible further stimulus to prevent the region from slipping into recession. The dollar enjoyed a respite from recent selling as government data showed the biggest one-month jump in U.S. consumer prices in 14 months in March. "The essence of Draghi's message is 'We are willing to look at all options, but we are not there yet'," said Boris Schlossberg, managing director of BK Asset Management in New York. "Incoming data continue to be weak, especially for the manufacturing sector ... The slower growth momentum is expected to extend into the current year," Draghi said at a press conference after a meeting where policy-makers left their easy policy unchanged. He also cited the risks from trade disputes to regional business activity after U.S. President Donald Trump threatened to impose tariffs on $11 billion worth of European Union goods. At 11:06 a.m. (1506 GMT), the euro was 0.08% lower at $1.1253 and was down 0.27% at 124.855 yen. The greenback, which was mainly lifted by the pullback in the euro, was also bolstered by the latest reading of the U.S. consumer price index. The U.S. government's broadest inflation gauge rose 0.4% in March, the biggest monthly increase since January 2018, while the CPI core rate, which excludes volatile food and energy prices, edged up 0.1%, falling short of the 0.2% gain forecast by analysts polled by Reuters. The somewhat mixed CPI report soothed worries about price growth fading, but did not dispel the view the Federal Reserve may lower key U.S. interest rates by early 2020, analysts said. An index that tracks the greenback against a basket of currency was up 0.04% at 97.043. ======================================================== Currency bid prices at 11:05AM (1505 GMT) Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Euro/Dollar EUR= $1.1252 $1.1261 -0.08% +0.00% +1.1286 +1.1230 Dollar/Yen JPY= 110.9400 111.1200 -0.16% +0.00% +111.2700 +110.9300 Euro/Yen EURJPY= 124.83 125.15 -0.26% +0.00% +125.4400 +124.7900 Dollar/Swiss CHF= 1.0023 0.9997 +0.26% +0.00% +1.0033 +0.9993 Sterling/Dollar GBP= 1.3084 1.3060 +0.18% +0.00% +1.3104 +1.3045 Dollar/Canadian CAD= 1.3326 1.3328 -0.02% +0.00% +1.3362 +1.3318 Australian/Doll AUD= 0.7143 0.7122 +0.29% +0.00% +0.7157 +0.7110 ar Euro/Swiss EURCHF= 1.1277 1.1262 +0.13% +0.00% +1.1284 +1.1255 Euro/Sterling EURGBP= 0.8600 0.8626 -0.30% +0.00% +0.8638 +0.8592 NZ NZD= 0.6745 0.6743 +0.03% +0.00% +0.6763 +0.6739 Dollar/Dollar Dollar/Norway NOK= 8.5132 8.5572 -0.51% +0.00% +8.5680 +8.5000 Euro/Norway EURNOK= 9.5783 9.6350 -0.59% +0.00% +9.6482 +9.5770 Dollar/Sweden SEK= 9.2793 9.2576 +0.16% +0.00% +9.2923 +9.2342 Euro/Sweden EURSEK= 10.4429 10.4260 +0.16% +0.00% +10.4483 +10.4060 (Reporting by Richard Leong in New York Additional reporting by Saikat Chatterjee in LONDON and Daniel Leussink in TOKYO Editing by Catherine Evans and James Dalgleish)

Yen rises on U.S.-Europe trade tension, lower IMF forecasts

Apr 09 2019

NEW YORK The yen gained on Tuesday as traders favoured the safe-haven currency after the United States announced it was considering tariffs on $11 billion (£8.4 billion) of European goods and the International Monetary Fund downgraded its outlook on the global economy.

FOREX -Yen gains on U.S.-Europe trade tension, weaker IMF forecasts

Apr 09 2019

* IMF cuts 2019 global growth forecast, 2020 view unchanged * Euro holds up despite U.S. tariffs threat, IMF outlook * Commodity currencies retreat as oil falls from highs * Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh (Updates market action, changes dateline, previous LONDON) By Richard Leong NEW YORK, April 9 The yen rose on Tuesday as traders favored the safe-haven currency after the United States announced it was considering tariffs on $11 billion of European goods and the International Monetary Fund downgraded its outlook on the global economy. These factors weighed on market sentiment, spurring selling on Wall Street and touching off a partial reversal of earlier gains in oil prices. The pull back in crude and other commodity prices cut into the initial gains of the Canadian and Australian dollar as well as emerging currencies. "Yen is now the top dog with lower stocks weighing on risk appetite," said Joe Manimbo, senior market analyst at Western Union Business Solutions in Washington. At 11:08 a.m. (1508 GMT), the yen was 0.34% higher at 111.125 per dollar and up 0.22% per euro. Major U.S. stock indexes were lower with the S&P 500 index down 0.55%. Brent oil futures were 0.72% lower at $70.59 a barrel after hitting $71.34 earlier on Tuesday, the highest since November. On Monday, the U.S. Trade Representative proposed a list of European Union products ranging from large commercial aircraft and parts to dairy products and wine on which to slap tariffs as retaliation for European aircraft subsidies. The IMF on Tuesday cut its global growth forecasts for 2019 to 3.3%, the slowest expansion since 2016 and from its earlier projection of 3.5% in January. While the IMF reduced its calls on expansion for both Europe and the United States, the euro held its modest gains versus the dollar, last up 0.15% at $1.1276. "Lots of negativity is already baked into the euro. Today's developments, while not encouraging, didn't meaningfully add to the bloc's weak narrative," Manimbo said. The latest IMF forecasts, together with the retreat in oil prices, put pressure on the Australian and Canadian dollars. Both countries are big commodities producers. The Aussie was up 0.08% at $0.7131 after touching a near three-week high, while the loonie was little changed at C$1.332 after hitting C$1.3285, its strongest since March 21. Meanwhile, sterling was down 0.06% at $1.3055 after a German government spokesman denied a media report that Chancellor Angela Merkel was open to put a time limit on the Northern Ireland backstop in a Brexit agreement. ======================================================== Currency bid prices at 11:09AM (1509 GMT) Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Euro/Dollar EUR= $1.1274 $1.1259 +0.13% -1.70% +1.1285 +1.1255 Dollar/Yen JPY= 111.1100 111.4700 -0.32% +0.77% +111.5700 +110.9900 Euro/Yen EURJPY= 125.28 125.55 -0.22% -0.74% +125.6200 +125.1700 Dollar/Swiss CHF= 1.0001 0.9987 +0.14% +1.91% +1.0003 +0.9981 Sterling/Dollar GBP= 1.3055 1.3062 -0.05% +2.34% +1.3121 +1.3040 Dollar/Canadian CAD= 1.3312 1.3313 -0.01% -2.38% +1.3329 +1.3281 Australian/Doll AUD= 0.7131 0.7126 +0.07% +1.16% +0.7152 +0.7119 ar Euro/Swiss EURCHF= 1.1278 1.1247 +0.28% +0.21% +1.1278 +1.1245 Euro/Sterling EURGBP= 0.8635 0.8622 +0.15% -3.91% +0.8644 +0.8595 NZ NZD= 0.6744 0.6738 +0.09% +0.40% +0.6758 +0.6738 Dollar/Dollar Dollar/Norway NOK= 8.5452 8.5443 +0.01% -1.08% +8.5635 +8.5234 Euro/Norway EURNOK= 9.6332 9.6273 +0.06% -2.75% +9.6470 +9.6135 Dollar/Sweden SEK= 9.2473 9.2598 -0.04% +3.16% +9.2683 +9.2280 Euro/Sweden EURSEK= 10.4270 10.4316 -0.04% +1.59% +10.4365 +10.4110 (Additional reporting by Tommy Wilkes in LONDON Editing by Susan Thomas)

Dollar falls as global growth worries ease

Apr 08 2019

NEW YORK The dollar declined against a basket of currencies on Monday as recent strong economic data eased worries about the global economy, prompting investors to reduce safe-haven positions in the greenback.

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