Foreign Exchange News

LONDON (Thomson Financial) - US SUMMARY: Stocks rise; oil falls Index Change Pct change DJIA 12743.19 +92.83 +0.73 NASDAQ 2413.36 +23.50 +0.98 S&P 500 1395.42 +16.87 +1.22 eur-usd 1.4803 -0.0074 Nymex crude for March 88.96 usd -2.79 usd 10 yr US treasury  ...

BEIJING (XFN-ASIA) - The central bank has set the yuan central parity rate at 7.1923 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 7.1903 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 (Thomson Financial) - The US dollar recovered against the yen in Asian afternoon trade on Thursday as a slowdown in the world's biggest economy will weaken Japanese exports and hurt growth. "I am bearish on the yen," said Mark Wan, chief analyst at Hang Seng Investment Services Ltd. "While I don't believe that the US economy will be in a recession, any slowdown in the US ...

BEIJING (XFN-ASIA) - The central bank has set the yuan central parity rate at a record 7.1853 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 7.1998 set the previous trading day. The People's Bank of China (PBoC) started setting a daily central parity rate on Jan 4 ...

SYDNEY (Thomson Financial) - New Zealand's improving export performance is likely to drive the nation's economic growth in 2008, TD Securities senior strategist Joshua Williamson said Thursday. Statistics New Zealand earlier released data showing the country's trade balance recorded a small surplus of 33 million New Zealand dollars in December as exports increased 9.0 percent from the previous mo ...

Gold and platinum have both hit fresh all-time highs for the third straight trading day, lifted by expectations of a further cut in US interest rates. In Tuesday trading, gold was $929.40 an ounce, while platinum touched $1,735. As fears about a US recession continue, gold is seen as an attractive asset given the current economic uncertainty. The weak dollar - which may fall again if US rates are cut - also boosts gold as it makes the metal cheaper for holders of other currencies. Analysts s ...

HONG KONG (Thomson Financial) - Hong Kong shares closed higher on Tuesday following a rebound on Wall Street after a bleak reading on home sales bolstered hopes that the Federal Reserve will cut interest rates again after last week's unexpected 75-basis point reduction. The US Commerce Department reported that new home sales fell 4.7 percent in December to the worst level in nearly 13 years. The  ...

LONDON (Thomson Financial) - The dollar eased off lows but remained weak, with market expectations running high for US interest rates to fall again tomorrow. The US Federal Reserve cut its benchmark Fed Funds Rate by 75 basis points last week, amid stock markets in rout and ever increasing fears of a sharp US slowdown, and analysts expect rates may fall as much as 50 basis points more when the Fe ...

HONG KONG (Thomson Financial) - The US dollar was weaker against the yen in afternoon trade in Asia Tuesday on growing speculation the Federal Reserve will lower interest rates further tomorrow, making dollar-denominated assets less attractive to investors. "Expectations that the Fed will cut rates again this week is undermining the dollar," said Callum Henderson, head of currency strat ...

Asia-Pacific equities markets headed lower as investors worried that not only the US economy but also the Japanese economy are headed for recession. In India, the Sensex ended the session 1.14 percent lower at 18,152.78. Taiwan’s Taiex index fell 3.28 percent to 7,845.79 while the FTSE Straits Times Index was down 3.75 percent to 3,041.06. The Kospi index was 3.85 percent lower to 1,627.19. The biggest declines came in Hong Kong, where the Hang Seng fell 4.25 percent to 24,053.61, and on the ...