Foreign Exchange News

LONDON (Thomson Financial) - The dollar came off earlier highs against the euro after U.S. stocks gave up some of their earlier gains following the news from drugs companies Merck & Co and Schering-Plough that they are delaying second-quarter results until after the closing bell on Wall Street. The news that Bank of America posted second quarter earnings of $0.72 a share, better than market e ...

Press Association21 July 2008, 10:16am Vote The UK is heading for an economic 'horror movie' and will struggle to avoid recession next year, an influential think tank claimed today. No escape: UK heading for an economic horror movie, says ITEM WANT TO KNOW MORE? How to spot a recession Can Soros cripple the FTSE? POLL: What do expect the rate of inflation (CPI) to be by next summer? OTHER STORIES HBOS hit as only 8% take up rights issue Market report: Monday ...

LONDON (Thomson Financial) - The dollar stabilised against the euro as early U.S. earnings reports came in on the strong side, giving stock market futures a boost ahead of the Wall Street open. Bank of America posted second quarter earnings of $0.72 a share, better than market expectations for $0.53, leading to optimism that the beleaguered U.S. banking sector is beginning to stabilise. The news ...

BEIJING (XFN-ASIA) - The central bank has set the yuan central parity rate at 6.8271 to the dollar, according to the China Foreign Exchange Trading System. The rate, published on the official Chinamoney website (www.chinamoney.com.cn), compares with the midpoint of 6.8238 set the previous trading day. The People's Bank of China (PBoC) started setting a daily central parity rate on Jan 4, 2006.  ...

HONG KONG, July 21 (Reuters) - Asian stocks rose sharply on Monday, helped by a smaller-than-expected loss at Citigroup that provided comfort about the financial sector's stability ahead of more results this week from banks and industrial companies. Oil prices, having tumbled in the past week or so by more than $17 from a record high above $147 a barrel, also supported shares of exporters in the  ...

LONDON (Thomson Financial) - The dollar remained relatively firm against the euro after Citigroup reported a smaller-than-expected second-quarter loss. The news from Citi, the biggest U.S. bank, helped calm some jitters about the health of the financial sector in the world's largest economy. Citi reported a second-quarter loss per share of $0.49, smaller than forecasts of around $0.61 to $0.67.  ...

MUMBAI (Thomson Financial) - Moody's Investors Service said Asian banks generally face little risk from their holdings of securities issued by U.S. mortgage fincie giants Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac), despite the problems they face. "The risk of default is miniscule, in line with the 'Aaa' ratings on Fannie Mae's  ...

Evening Standard18 July 2008, 11:57am Global financial market turmoil is causing headaches for Google's treasury department, which says the problem of managing its $12.7bn (£6.42bn) cash pile is to blame for disappointing second-quarter profits. Going strong: Google's net profits rose 35% in the second quarter WANT TO KNOW MORE? Google profits leap lifts shares OTHER STORIES Bank pair raise £8bn - but may need more Market report: Friday latest Yesterd ...

LONDON (Thomson Financial) - The dollar found good bids with all eyes on stock market performance ahead of some key financial reports. To some extent the dollar was also propped up by a strong performance on Wall Street overnight. "U.S. banks are in the throws of reporting season and so far the overall performance has been pretty good, with even Merrill Lynch's write downs yesterday being a ...

LONDON (Thomson Financial) - Moody's Investors Service said inflation has raised the risk of an adverse global economic scenario. Moody's said in its report, "Navigating the Fog: Update on Moody's Macro Stress Scenarios for 2008-2009", the most probable outcome is slower growth worldwide with the U.S. bordering on recession, Europe growing at below but near potential and emerging market ...