Forex

South Africa's rand weaker before key data releases

31/03 South Africa's rand opened weaker on Tuesday, above 18.00 to the dollar, as pressure on emerging-market currencies added to the effects of Moody's downgrade of the country's credit to junk.  Full story

Currencies inch lower on virus' economic toll, Fed measure caps losses

07h37 Asian currencies eased on Wednesday as investors braced for a steep economic slump in the wake of lockdowns in many countries to contain the coronavirus' spread, although losses were limited by the U.S. Federal. . .  Full story

Yuan off to weak start in April, after losing 1.3% vs dollar in March

07h09 China's yuan eased further on Wednesday, following its worst monthly performance in seven as investors favoured the safe haven dollar with the world economy facing a one of the worst contractions in decades. . .  Full story

Indonesia Feb tourist arrivals slide nearly 30% on COVID-19 outbreak

07h06 Indonesia's tourist arrivals fell 29% in February to 885,067 from 1.24 million a year earlier, partly because of the global spread of COVID-19, data from the statistics bureau showed.. . .  Full story

China developers raise funds at home to repay pricier offshore debt

06h31 Chinese property firms facing a wave of maturing debt will raise funds on the mainland to refinance their offshore borrowings as funding conditions loosen in the world's second-largest economy at a time when the dollar. . .  Full story

Dollar firms as investors brace for global downturn

05h58 The dollar was a touch firmer on Wednesday, buoyed by its safe-haven status with the world staring at what is likely to be one of the worst economic contractions for decades as it locks. . .  Full story

S.Korean shares steady as Fed's dollar supply measures ease volatility

05h54 Round-up of South Korean financial markets: ** South Korean shares were little changed on Wednesday as the U.S. Federal Reserve's plan to increase dollar liquidity eased market volatility amid the worsening. . .  Full story

Hong Kong dollar scores best month since 2003 as local rates hold up

05h30 The Hong Kong dollar recorded its biggest monthly jump in more than 16 years in March, as local interest rates firmed on surging demand for cash, luring speculators to hold the currency.. . .  Full story

Indonesia strengthens financial crisis protocol amid coronavirus

05h26 Indonesia has improved its protocol to prevent a financial crisis amid the coronavirus outbreak, its finance minister said on Wednesday as she flagged a worst case scenario of contraction in 2020 GDP growth and. . .  Full story

Asian shares hold on to gains but virus keeps markets on edge

05h01 Asian stocks clung to gains on Wednesday, helped by a bounce in Australian shares, but risks for equities remain large as the coronavirus pandemic rattles the underpinnings of the global economy.. . .  Full story

Argentina to continue talks with creditors after missing deadline - economy minister

04h16 Argentina will continue talks this week and next with creditors over restructuring its $83 billion in foreign debt, Economy Minister Martin Guzman said on Tuesday, after the South American country missed the March 31 deadline. . .  Full story

S.Korea fin min says March per-day exports probably shrank

01h05 South Korea's finance minister on Wednesday said per-day exports probably contracted in March due to production disruptions from the coronavirus pandemic.. . .  Full story

Chile´s central bank slashes interest rate, warns of 'severe' economic contraction

31/03 Chile´s central bank on Tuesday slashed its benchmark interest rate to 0.50%, its lowest since 2009, warning of a "severe" economic contraction in March as a result of the fast-spreading coronavirus outbreak.. . .  Full story

Loonie rises in volatile month-end trading; down 4.6% in March

31/03 The Canadian dollar rose against the greenback on Tuesday in volatile trading to end the first quarter as oil prices rose and data showed the domestic economy grew in January, but the loonie. . .  Full story

Stocks fall, close out biggest quarterly drop since 2008

31/03 Global stock markets fell in volatile trading on Tuesday, and the economic damage from the coronavirus pandemic left the MSCI benchmark of world equities with its biggest quarterly decline since the financial crisis of 2008.. . .  Full story

Fed broadens access to dollars with repo agreement for foreign central banks

31/03 The U.S. Federal Reserve on Tuesday broadened the ability of dozens of foreign central banks to access U.S. dollars during the coronavirus crisis by allowing them to exchange their holdings of U.S. Treasury securities. . .  Full story

U.S. dollar weakens as Fed measure weighs

31/03 The dollar fell against a basket of major currencies on Tuesday modestly pressured by the weight of Federal Reserve measures meant to ensure there was enough liquidity in the global financial system.. . .  Full story

Latam stocks, currencies up on day but mark record quarterly losses

31/03 Most Latin American assets edged up on Tuesday, tracking their broader emerging market peers on unexpectedly positive Chinese economic data, but marked record quarterly losses amid continued selling due to the coronavirus outbreak.. . .  Full story

Mixed fund rebalancing picture as "quarter to forget" wraps up

31/03 U.S. stock indexes have clawed back losses but are still set to close out March with one of the worst quarterly performances ever as evidence grows of the large-scale damage to business activity from. . .  Full story

South Africa's rand firms after trade data, stocks rise

31/03 South Africa's rand firmed against the dollar on Tuesday as strong trade balance numbers lifted the pressure on a currency which had plunged a day earlier following a sovereign credit rating downgrade, while stocks also. . .  Full story

U.S. dollar share of global FX reserves slips in Q4 -IMF

31/03 The U.S. dollar's share of currency reserves reported to the International Monetary Fund fell to 60.8% in the fourth quarter last year from the previous quarter, data released on Tuesday showed.. . .  Full story

NZ house prices rise 6.1% in March; lockdown impact unknown - QV

31/03 New Zealand house prices rose an annual 6.1% in March to an average value of NZ$728,276 ($439,150.43), government valuer Quotable Value (QV) said on Wednesday.. . .  Full story

Sterling rises as investors adjust quarter-end positions

31/03 Sterling rose on Tuesday as investors readjusted their portfolios at the end of the first quarter of 2020, although analysts said the currency remained fragile.. . .  Full story

What the Federal Reserve has done in the coronavirus crisis

31/03 The Federal Reserve has moved into overdrive to try to keep the U.S. economy from suffering lasting damage from the coronavirus pandemic, announcing an emergency interest rate cut on March 3 and rolling out. . .  Full story

Poland hikes debt supply offer up to $9 bln in April

31/03 Poland sharply hiked its debt supply offer in April with treasury bills and bonds worth 18-38 billion zlotys ($4.34-9.16 billion) in total, as it gathers cash for measures to support the economy during the. . .  Full story

G20 financial officials say action plan will address low-income debt risk

31/03 An action plan by the Group of 20 major economies to address the coronavirus pandemic will consider the risk of debt vulnerabilities in low-income countries and deliver financial aid to emerging countries, a joint statement. . .  Full story

Three months that shook global markets

31/03 How much damage has the coronavirus and the oil price collapse inflicted on global financial markets this year? Put simply, it has probably been the most destructive sell-off since the Great Depression.. . .  Full story

STATEMENT

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South Africa's trade balance swings to surplus in February

31/03 South Africa's trade balance recorded a surplus of 14.15 billion rand ($790.21 million) in February from a revised 2.72 billion rand deficit in January, data from the revenue service showed on. . .  Full story

Global funds still recommend bonds over stocks

31/03 Global fund managers are convinced the world economy is already in recession, and recommended increasing bond holdings in March to the highest level in at least seven years while buffering up on cash at. . .  Full story

Bank of Spain won't activate capital buffers due to coronavirus

31/03 The Bank of Spain said on Tuesday it would not activate counter-cyclical buffers for domestic lenders for the foreseeable future due to the economic fallout from the coronavirus pandemic, and it maintained the buffer at. . .  Full story

Thailand, Japan sign local currency swap arrangement

31/03 The central banks of Thailand and Japan on Tuesday signed a bilateral local currency swap arrangement (BSA) to enhance the financial stability of the two countries, the Bank of Thailand said in a statement.. . .  Full story

Sterling's vulnerability is exacerbated by dollar strength

31/03 The pound fell against the dollar on Tuesday as the U.S. currency gained strength due to its safe-haven properties amid the spread of the coronavirus.. . .  Full story

Stocks gain to end worst month since 2008 crisis, FX firmer

31/03 Central European stock markets regained some ground on Tuesday after Chinese data offering some relief for global investors, but remained on course for their biggest monthly drop since the 2008 financial crisis.. . .  Full story

Coronavirus complicates Argentina's delicate dance to avoid debt default

31/03 The global coronavirus pandemic is threatening to disrupt Argentina's tense debt restructuring talks with creditors, stoking risks the country may slip into default and face a downgrade, ratings agencies and bondholders told Reuters.. . .  Full story

Croatia to pursue plan to join euro despite coronavirus, says central bank

31/03 Croatia will continue with the next stage of its plan for adopting the euro despite any adverse effects of the coronavirus pandemic on the economy, the central bank said on Tuesday.. . .  Full story

Yields fall in weekly South African government bond auction

31/03 South Africa's government sold a total of 4.53 billion rand ($252.49 million) of its 2026 , 2023 and 2030 bonds on Tuesday. Yields were lower compared with previous auctions. R186. . .  Full story

'Close to zero chance' of Czech central bank using negative rates -governor

31/03 The Czech National Bank is ready to cut interest rates further if needed, though there is minimal likelihood of using negative rates, Governor Jiri Rusnok was quoted as saying in an interview with Hospodarske. . .  Full story

Stocks buoyed by China data, but set for worst quarter since 2008

31/03 Emerging market stocks were set to end a tumultuous quarter on a positive note on Tuesday, as unexpectedly positive factory activity data from China lifted fragile sentiment, while Russia's rouble jumped 1.6% as oil prices. . .  Full story

Gold flows help UK current account, but economy flatlined in late 2019

31/03 Britain narrowed its current account deficit in the last three months of 2019, but much of the improvement in one of the economy's fundamental areas of weakness was due to volatile swings in gold. . .  Full story

BOK was wary of stability risks as it made 50 bps cut - minutes

31/03 South Korea's monetary policy board remained wary of risks to the nation's currency markets and household debt as it made a 50-basis-point cut, the minutes of its March emergency meeting showed on Tuesday.. . .  Full story

S.Korean shares rise over 2%, but mark biggest quarterly drop since 2008

31/03 Round-up of South Korean financial markets: ** South Korean shares gained more than 2% on Tuesday as risk appetite was whetted by hopes of another U.S. stimulus package and data showing a rebound in China. . .  Full story

S.Korea c.bank says net purchase, selling on par in forex intervention in Q4

31/03 South Korea's central bank said on Tuesday the net purchase and selling of dollar was on par during the final quarter of 2019 for intervention in the foreign exchange market to stabilise won's movement,. . .  Full story

Japan's GPIF raises foreign bond allocation target to 25%

31/03 Japan's Government Pension Investment Fund (GPIF) said on Tuesday it would raise its allocation target for foreign bonds to 25% from the current 15%, marking a shift from unprofitable domestic bonds to foreign assets.. . .  Full story

Most currencies tick up on upbeat China factory survey

31/03 Most Asian currencies ticked higher on Tuesday after a key survey showed factory activity in China returned to growth, even though the global coronavirus crisis showed little signs of slowing. Factory. . .  Full story

Dollar may be set for another damaging bout of strength

31/03 If the 2008 financial crisis is any guide, world markets - which have barely had time to recover from the dollar's 9% surge in mid-March - may be set for another damaging bout of. . .  Full story

Yuan steady after PMI bounce, but set for biggest monthly loss since Aug

31/03 China's yuan was steady against the dollar on Tuesday, unable to make much headway despite an unexpected expansion in factory activity in March as the global fallout from coronavirus pandemic kept it. . .  Full story

S.Korean shares gain over 2% on China factory data

31/03 Round-up of South Korean financial markets: ** South Korean shares rose more than 2% on Tuesday as factory data from China beat forecasts and hinted at a rebound in activity. The. . .  Full story

NZ business confidence plunges in March on coronavirus worries

31/03 New Zealand business confidence plummeted to a near record low in March over fears of the economic impact of the coronavirus pandemic, an ANZ Bank survey showed on Tuesday.. . .  Full story

World equity markets edge higher; oil plunges to 2002 lows

30/03 Global equity benchmarks rose on Monday despite a drop in oil prices to their lowest levels since 2002, as central banks and the United States tried to contain damage from the rapidly spreading coronavirus. . .  Full story

Mexico's peso leads Latam FX lower, Stocks edge up

30/03 Mexico's peso led Latin American currencies lower on Monday as a strong dollar and sinking oil prices weighed, with further pain seeming apparent as the coronavirus outbreak rattled the global economy.. . .  Full story

Loonie gives back some of last week's rally as oil prices slide

30/03 The Canadian dollar weakened against its U.S. counterpart on Monday as the price of oil fell and the greenback climbed against a basket of major currencies, with the loonie giving up some of the. . .  Full story

U.S. dollar gains as global easing gives temporary respite

30/03 The dollar advanced on Monday, snapping a week of declines, as investors braced for prolonged uncertainty and governments tightened lockdowns and launched monetary and fiscal measures to fight the coronavirus pandemic.. . .  Full story

South African rand touches all-time low after Moody's pulls the plug

30/03 South Africa's rand hit an all-time low on Monday after ratings firm Moody's removed the country's last investment grade credit rating and downgraded it to "junk" status - although the selloff. . .  Full story

Sterling drops against dollar as rating cut clouds British outlook

30/03 Sterling skidded against the dollar on Monday, as the U.S. currency reasserted its safe haven status and Britain's economic outlook was knocked further by a credit ratings downgrade.. . .  Full story

Investors look past UK rating downgrade but flag risks ahead

30/03 Britain's finances put it among the most vulnerable major economies in the face of the coronavirus crisis, investors warned on Monday, even as markets appeared to look past a credit rating downgrade before. . .  Full story

Nigerian stocks drop to 8-year low after Buhari orders lockdown to fight coronavirus

30/03 Nigerian stocks fell to a new eight-year low on Monday after President Muhammadu Buhari ordered a lockdown of two of the country's biggest cities to stop the spread of coronavirus.. . .  Full story

Bank of England extends CTRF emergency liquidity measure

30/03 The Bank of England said on Monday it would extend an emergency liquidity measure, the three-month Contingent Term Repo Facility (CTRF), to run until the end of April and it would also hold a. . .  Full story

Rate-slashing Turkey set to keep blazing trail among EMs

30/03 Turkey is set to keep cutting interest rates to limit the economic impact of a surge in coronavirus cases at home and abroad, leading a monetary easing charge among emerging markets (EMs), comments from. . .  Full story

Russian c.bank warns of economic slowdown amid coronavirus

30/03 The coronavirus outbreak will result in a temporary but substantial decline in economic activity in Russia in the next few months, Russia's central bank said on Monday.. . .  Full story

IMF says ECB, ESM support key to strong EU coronavirus response

30/03 The International Monetary Fund said on Monday the relaxation of the euro zone's fiscal rules and support from the European Central Bank and the European Stability Mechanism is critical to a strong regional response to. . .  Full story

BBVA bosses to forego bonuses to help with coronavirus crisis

30/03 BBVA on Monday said senior management would forego more than 50 million euros in bonuses for 2020 as part of the Spanish bank's efforts to mitigate the impact of the coronavirus crisis but it. . .  Full story

Virus deals knock-out blow to British restaurant chain Carluccio's

30/03 Anglo-Italian restaurant chain Carluccio's entered administration on Monday, putting around 2,000 jobs at risk, after challenging trading conditions on the high street were exacerbated by the spread of coronavirus.. . .  Full story

BLOG MESSAGE

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Saudi, UAE businesses battle cash crunch despite anti-coronavirus stimulus

30/03 Saudi Arabia and the United Arab Emirates are spending tens of billions to prop up their economies during the coronavirus crisis and oil price slump but the scaling back of state projects is blunting. . .  Full story

Swiss National Bank's liquidity injections trigger sight deposit leap

30/03 The Swiss National Bank's holding of overnight funds for commercial banks increased by the largest amount in more than five years last week, indicating how it is injecting money into the Swiss economy hit. . .  Full story

Zimbabwe brings back foreign currencies ahead of coronavirus lockdown

30/03 Zimbabwe legalised the use of foreign currencies in domestic transactions on Sunday, less than a year after abandoning dollarisation, as the country readies for a 21-day lockdown to prevent the spread. . .  Full story

Stocks, currencies ease as optimism over stimulus measures loses steam

30/03 Central European stock indexes fell and currencies eased on Monday, as massive economic support packages aiming to shore up economies battered by the coronavirus pandemic failed to reassure markets.. . .  Full story

China's overnight onshore dollar/yuan swap points fall to lowest level since 2007

30/03 China's onshore dollar/yuan swap points fell sharply on Monday as traders were scrambling for dollars to meet their quarter-end requirements.. . .  Full story

Take Five: Quarter-life crisis

30/03 1/GIVE NO QUARTER Few will regret the end of the first 2020 quarter. Fears of a U.S.-Iran war gave way to the coronavirus pandemic which JPMorgan reckons will have pushed the world economy into. . .  Full story

Stocks fall as recession fears grow

30/03 Emerging markets stocks fell on Monday with investors bracing for a sustained blow to economic activity as the coronavirus continued to spread, while South Africa's rand weakened 2% after the country lost its last. . .  Full story

Offshore investors net buyers of South African stocks, bonds

30/03 Offshore investors bought a net of 355 million rand ($19.77 million) of South African stocks last week and 5.02 billion rand in bonds, data from the Johannesburg Stock Exchange showed on Monday. STOCKS. . .  Full story