Currency signs

Yen eases after Japan's worst April trade deficit

Agence France-Presse — Wed, 22 May 2013 07:45:51 +0000

Agence France-Presse

The yen edged down against the dollar and euro in Asia on Wednesday after Japan posted its worst ever April trade deficit, fuelling yen-negative sentiment.

News that the Bank of Japan announced no fresh policy measures after a two-day policy meeting triggered yen-buying but it soon fizzled.

The dollar was quoted at 102.55 yen in Tokyo afternoon trade against 102.47 yen in New York late Tuesday.

The euro also firmed to 132.43 yen from 132.26 yen in New York and to $1.2913 from $1.2906.

Canadian dollar falls, dragged down by weaker-than-expected inflation figures

The Canadian Press — Fri, 17 May 2013 13:45:46 +0000

The Canadian Press

TORONTO - The Canadian dollar headed lower Friday after Statistics Canada reported that consumer prices rose last month at the slowest rate it's seen in more than three years.

The loonie finished the day down 0.95 of a cent to 97.17 cents US as the U.S. dollar also gained strength against other major currencies.

The Canadian dollar was as low as 96.96 cents at one point in the morning, a level not seen in more than two months.

Toronto, Wall Street surge higher amid positive U.S. data, consumer sentiment

The Canadian Press — Fri, 17 May 2013 13:45:30 +0000

The Canadian Press

TORONTO - The Toronto Stock Exchange surged ahead Friday, encouraged by gains from the U.S. markets, after data showed the world's largest economy may be in recovery.

"We continue to grind higher here," said Jason Hornett, a portfolio manager with Bissett Investment Management.

"People continue to be more and more optimistic here in North America and it definitely bodes well for the stock market."

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Dollar gains slightly in Asia

Agence France-Presse — Fri, 17 May 2013 05:45:40 +0000

Agence France-Presse

The dollar gained slightly in Asia on Friday as investors cautiously adjusted their positions following the unit's recent surge.

The US currency was at 102.28 yen in afternoon Asian trade against 102.22 yen in New York late Thursday.

The euro bought $1.2864 and 131.57 yen against $1.2886 and 131.72 yen in US trade.

In early Tokyo trade, the dollar briefly fell near the 102-yen mark but had rebounded by late morning.

Support for the dollar was firm as there were plenty of players, including importers, willing to buy on dips amid the recent rally, brokers said.

Loonie falls amid weak U.S. economic data, BoC paper on monetary policy

The Canadian Press — Thu, 16 May 2013 14:01:32 +0000

The Canadian Press

TORONTO - The Canadian dollar was ended lower Thursday amid a round of disappointing U.S. economic reports and a commentary on monetary policy from the Bank of Canada.

The loonie fell 0.19 of a cent to 98.12 cents US.

Bob Gorman, a senior portfolio strategist with TD Wealth, said the loonie is on a downwards trajectory.

"We feel the loonie will likely lose some altitude, reflecting some lower economic growth we see south of the border, Canada's trade numbers ... (and not) a lot of support from commodities," he said.

Asian stock markets mostly up on the heels of improving small business sentiment in the US

The Canadian Press — Tue, 14 May 2013 10:00:12 +0000

The Canadian Press

BANGKOK - Enthusiasm on Wall Street sparked by another positive report on the U.S. economy helped push most Asian stock markets higher Wednesday.

The National Federation of Independent Business reported a slight improvement in confidence among small business owners in the U.S. in April. That helped boost the Dow Jones industrial average to close at a record high Tuesday.

"A combination of further improvement of economic performance and low inflation in the US should keep risk appetite buoyant," said analysts at Credit Agricole CIB in Hong Kong in an email commentary.

Asia stock markets rise after US releases better-than-expected retail sales data

The Canadian Press — Mon, 13 May 2013 04:30:15 +0000

The Canadian Press

BANGKOK - Asian stock markets rose Tuesday after data showed U.S. consumers revved up their retail spending last month.

The Commerce Department in Washington said retail sales increased 0.1 per cent in April from March, an improvement from March's 0.5 per cent decline. Economists had forecast that sales declined by 0.3 per cent in April. The uptick in spending on items such as clothing, cars and electronics is likely to boost the country's growth figures for the current quarter.

TSX falls on latest job figures from StatsCan, U.S. buoyed by strong dollar

The Canadian Press — Fri, 10 May 2013 21:01:10 +0000

The Canadian Press

TORONTO - North American markets opened with mixed results Friday, buoyed by strong world markets and a rising U.S. dollar but slightly disappointing Canadian jobs data.

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The Dow Jones industrial index was also down, off 10.16 points to 15,072.46, while the Nasdaq climbed 7.75 points to 3,416.92 and the S

Statistics Canada reported job gains of 12,500 in April, slightly missing expectations. The unemployment rate was unchanged at 7.2 per cent, in line with what was predicted.

Loonie dip as latest job numbers come in slightly below expectations

The Canadian Press — Fri, 10 May 2013 15:01:38 +0000

The Canadian Press

TORONTO - The Canadian dollar continued to drop Friday as commodity prices weakened, and the latest figures showed Canadian jobs growth for April came in slightly below expectations.

The loonie was down 0.37 of a cent to 98.89 cents US.

The dollar has been flirting with parity against the U.S. dollar this week amid heightened investor appetite and signs that the U.S. economy is recovering as it should.

Kevin Headland of Manulife Asset Management says the loonie's recent strength has been the result of dropping currencies, especially in Asia.

Asian stock markets mixed as Chinese shares fall on worse-than-expected inflation data

The Canadian Press — Thu, 09 May 2013 09:45:18 +0000

The Canadian Press

BANGKOK - Asian stock markets were mixed Thursday, as investors weighed an interest rate cut in South Korea against rising inflation in China.

South Korea's Kospi index jumped 1.2 per cent to 1,972.70 after the Bank of Korea lowered its benchmark interest rate for the first time in seven months.

In announcing that it was lowering the rate by a quarter percentage point to 2.5 per cent, the Bank of Korea became the latest central bank to take steps to boost flagging economic growth.

Euro under pressure in Asia on weak data

Agence France-Presse — Tue, 07 May 2013 10:45:49 +0000

Agence France-Presse

The euro was under pressure in Asian trade Tuesday, weighed by a European Central Bank interest rate cut and poor data from the eurozone.

The ECB cut its key rates to an all-time low on Thursday and bank chief Mario Draghi said the institution may launch further easing if the 17-nation bloc's economy does not improve.

The bank lopped off a quarter-point to a record 0.50 percent as part of efforts to boost demand and drag the debt-stricken eurozone out of recession.

The decision and Draghi's comments came after Tokyo financial markets closed for a holiday weekend.

Asian stock markets muted after enthusiasm from last week's US jobs data starts to fade

The Canadian Press — Mon, 06 May 2013 04:15:04 +0000

The Canadian Press

BANGKOK - Asian stock markets were muted Tuesday as cheer over the better-than-expected U.S. jobs report faded.

Japan's benchmark stock index was the exception, surging 2.6 per cent to 14,083.26 as it reopened following a long weekend holiday.

Major indexes on Wall Street as well as Germany's DAX hit record highs Friday after the U.S. Labor Department said employers added more workers to their payrolls in recent months. The unemployment rate fell to 7.5 per cent, the lowest level in four years.

Euro gains in Asian trade after ECB rate cut

Agence France-Presse — Fri, 03 May 2013 06:31:09 +0000

Agence France-Presse

The euro gained in Asian trade Friday after the European Central Bank (ECB) slashed interest rates to a record low in a bid to spur economic growth in the debt-stricken eurozone.

The euro recovered from initial losses and was trading at $1.3073 in afternoon Asian hours from $1.3063 in New York late Thursday. The single currency was also buying 128.12 yen from 127.93 yen.

The dollar was up to 98.01 yen from 97.93 yen.

Trading was light, with Japanese markets closed for a holiday.

Asian markets mostly up after weak Wall St lead

Agence France-Presse — Thu, 25 Apr 2013 07:00:48 +0000

Agence France-Presse

Asian markets were mostly up on Thursday in quiet trade after an anaemic close on Wall Street, while the dollar's recent rally seemed to have levelled out just short of the 100 yen mark.

With few catalysts driving action, eyes are moving to Friday's policy decision by the Bank of Japan to see if it adds to the huge stimulus measures unveiled earlier this month as part of a drive to kickstart the economy.

Asian markets mostly higher after weak Wall St lead

Agence France-Presse — Thu, 25 Apr 2013 03:31:17 +0000

Agence France-Presse

Asian markets were mostly up on Thursday in quiet trade after an anaemic close on Wall Street, while the dollar's recent rally seemed to have levelled out just short of the 100 yen mark.

With few catalysts driving action eyes are moving to Friday's policy decision by the Bank of Japan to see if it adds to the huge stimulus measures unveiled earlier this month as part of a drive to kickstart the economy.

Tokyo was 0.14 percent higher by the break, Hong Kong added 0.41 percent, Shanghai fell 1.06 percent and Seoul added 0.42 percent.