Edition:
United Kingdom

Saqib Ahmed

UPDATE 1-Explosion in forex volatility cheers some, bruises others as virus fears drive swings

11 Mar 2020

March 11 Investors are scrambling to adjust their portfolios to a surge of volatility in foreign exchange markets, as the coronavirus outbreak and massive swings in oil prices roil currencies around the globe.

Explosion in forex volatility cheers some, bruises others as virus fears drive swings

11 Mar 2020

March 11 Investors are scrambling to adjust their portfolios to a surge of volatility in foreign exchange markets, as the coronavirus outbreak and massive swings in oil prices roil currencies around the globe.

GRAPHIC-Not in my lifetime: How the Treasury yield collapse surprised nearly everyone

09 Mar 2020

March 9 Investors who thought U.S. Treasury yields could not get any lower received another shock Monday.

FOREX-Dollar dips vs yen as investors reach for safe havens on virus scare

24 Jan 2020

* Euro zone economy remains weak but green shoots emerging -PMIs

CANADA FX DEBT-Canadian dollar slips as oil prices fall on China virus scare

24 Jan 2020

* Oil drops more than 2% on China virus fears * Canadian govt bond prices rise across the maturity curve (Adds comment, updates prices) By Saqib Iqbal Ahmed NEW YORK, Jan 24 The Canadian dollar edged lower against its U.S. counterpart on Friday, lingering close to the one-month low hit in the previous session, as the coronavirus outbreak weighed on oil prices and amid broad-based strength for the U.S. currency. The price of oil, one of Canada's major exports, fell more than 2% on Friday and headed for a steep weekly decline over concerns that the coronavirus will spread farther in China, the world's second-largest oil consumer, curbing travel and oil demand. At 3 p.m. EST (2000 GMT), the Canadian dollar was trading down about 0.12% at 1.3141 to the greenback, or 76.10 U.S. cents. On Wednesday, the loonie came under pressure after the Bank of Canada (BoC) left its benchmark interest rate on hold at 1.75% as expected but said a future cut was possible should a recent slowdown in domestic growth persist. "We've seen before how BoC meetings can result in lengthy trends for USD/CAD, lasting at least until the next BoC meeting. I think we may well have one of those scenarios now as well, so I wouldn’t necessarily fade the move at this point," Marshall Gittler, chief strategist at ACLS Global, said in a note. The loonie has fallen about 1% since the start of the year after climbing 5% in 2019, when it was the top-performing G10 currency. Canadian retail sales were up 0.9% in November from October at C$51.48 billion ($39.19 billion), on stronger sales at motor vehicle and parts dealers, as well as food and beverage stores, Statistics Canada said on Friday. "(The) rise in retail sales will come as a relief to the Bank of Canada and supports our view that it will leave interest rates unchanged this year," said Stephen Brown, senior Canada economist at Capital Economics. Canadian government bond prices were higher across the maturity curve, with the two-year price up 6.5 Canadian cents to yield 1.486% and the benchmark 10-year rising 43.2 Canadian cents to yield 1.367%. (Reporting by Saqib Iqbal Ahmed; Editing by David Gregorio and Jonathan Oatis)

FOREX-Dollar rises vs euro as European PMI data fails to impress

24 Jan 2020

* Euro zone economy remains weak but green shoots emerging -PMIs

CANADA FX DEBT-Canadian dollar edges lower as oil prices slip on China virus scare

24 Jan 2020

* Oil falls below $62 on China virus concerns * Canadian govt bond prices rise across the maturity curve By Saqib Iqbal Ahmed NEW YORK, Jan 24 The Canadian dollar edged lower against its U.S. counterpart on Thursday, lingering close to the one-month low hit in the previous session, as the coronavirus outbreak weighed on oil prices. The price of oil, one of Canada's major exports, fell below $62 a barrel on Friday and headed for a weekly decline on concern that the coronavirus in China may spread, curbing travel and oil demand. At 9:07AM EST (1407 GMT), the Canadian dollar was trading down about 0.02% at 1.3131 to the greenback, or 76.16 U.S. cents. On Wednesday, the loonie came under pressure after the Bank of Canada (BoC) left its benchmark interest rate on hold at 1.75% as expected but said a future cut was possible should a recent slowdown in domestic growth persist. "We've seen before how BoC meetings can result in lengthy trends for USD/CAD, lasting at least until the next BoC meeting. I think we may well have one of those scenarios now as well, so I wouldn’t necessarily fade the move at this point," Marshall Gittler, chief strategist at ACLS Global, said in a note. The loonie has fallen about 1% since the start of the year after climbing 5% in 2019, when it was the top-performing G10 currency. Canadian retail sales were up 0.9% in November from October at C$51.48 billion ($39.19 billion), on stronger sales at motor vehicle and parts dealers, as well as food and beverage stores, Statistics Canada said on Friday. Canadian government bond prices rose across the maturity curve, with the two-year price up 0.9 Canadian cent to yield 1.514% and the benchmark 10-year rising 16 Canadian cents to yield 1.396%. (Reporting by Saqib Iqbal Ahmed; Editing by David Gregorio)

FOREX-Dollar up vs euro as ECB holds rates steady, launches review

23 Jan 2020

* ECB launches review that will redefine its mission and tools

FOREX-Dollar gains vs euro as ECB holds policy steady, launches review

23 Jan 2020

* ECB launches review that will redefine its mission and tools

FOREX-Dollar index records smallest ever annual move in 2019

31 Dec 2019

NEW YORK, Dec 31 The U.S. dollar index recorded its smallest-ever annual move in 2019, up just 0.24% for the year after a drop in December reversed early gains as trade hopes and investor confidence diminished demand for the safe-haven asset.

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