RBS beats full-year profit expectations, warns of ‘heightened’ Brexit uncertainty

Royal Bank of Scotland has slightly beaten expectations by reporting a net income of £1.62 billion ($2.07 billion) for 2018 on Friday. Analysts were expecting a net income of £1.58 billion for the full-year, according to Reuters’ Eikon. In terms of quarterly performance, net income stood at £286 million versus £448 million in the third quarter. In the summer last year, the bank proposed its first dividend in 10 years. However, there are significant concerns over Brexit and the future of the U.K.


Royal Bank of Scotland has slightly beaten expectations by reporting a net income of £1.62 billion ($2.07 billion) for 2018 on Friday. Analysts were expecting a net income of £1.58 billion for the full-year, according to Reuters’ Eikon. In terms of quarterly performance, net income stood at £286 million versus £448 million in the third quarter. In the summer last year, the bank proposed its first dividend in 10 years. However, there are significant concerns over Brexit and the future of the U.K.
RBS beats full-year profit expectations, warns of ‘heightened’ Brexit uncertainty Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: silvia amaro
Keywords: news, cnbc, companies, uk, stood, uncertainty, bank, net, beats, fullyear, heightened, expectations, billion, versus, income, dividend, million, proposed, brexit, profit, rbs, warns


RBS beats full-year profit expectations, warns of 'heightened' Brexit uncertainty

Royal Bank of Scotland has slightly beaten expectations by reporting a net income of £1.62 billion ($2.07 billion) for 2018 on Friday.

Analysts were expecting a net income of £1.58 billion for the full-year, according to Reuters’ Eikon.

In terms of quarterly performance, net income stood at £286 million versus £448 million in the third quarter.

Here are some other highlights for the full-year:

Profit stood at £3.34 billion versus £2.24 billion in 2017

Common Equity Tier 1 ratio of 16.2 percent versus 15.9 percent at the end of 2017

It proposed a full-year ordinary dividend of 3.5 pence per share

The U.K. lender has been at the center of a long legal saga with the DOJ over its selling of toxic mortgages in the U.S. in the run-up to the 2008 financial crisis. The lengthy settlement agreement process had prevented the bank from providing dividends to its shareholders. In the summer last year, the bank proposed its first dividend in 10 years.

RBS’ chief executive Ross McEwan said in a statement: “2018 was a year of strong progress on our strategy – we settled our remaining major legacy issues, paid our first dividend in ten years and delivered another full year bottom line profit.”

However, there are significant concerns over Brexit and the future of the U.K. economy.


Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: silvia amaro
Keywords: news, cnbc, companies, uk, stood, uncertainty, bank, net, beats, fullyear, heightened, expectations, billion, versus, income, dividend, million, proposed, brexit, profit, rbs, warns


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Dollar near six-week highs as trade, growth worries ramp up

The dollar rose against most other currencies on Monday, holding near a six-week high as fresh worries about U.S.-Sino trade tensions and global growth drove appetite for safe-haven assets. “The Aussie dollar and the euro are at vulnerable levels right now and further dampening in risk sentiment can lead to further downside in these currencies.” Trade tensions between the world’s two largest economies have been a major driver of global investor sentiment over the past year. The strength in the d


The dollar rose against most other currencies on Monday, holding near a six-week high as fresh worries about U.S.-Sino trade tensions and global growth drove appetite for safe-haven assets. “The Aussie dollar and the euro are at vulnerable levels right now and further dampening in risk sentiment can lead to further downside in these currencies.” Trade tensions between the world’s two largest economies have been a major driver of global investor sentiment over the past year. The strength in the d
Dollar near six-week highs as trade, growth worries ramp up Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: dan kitwood, getty images
Keywords: news, cnbc, companies, trade, highs, sentiment, sixweek, near, global, versus, tensions, chinese, ramp, euro, worries, dollar, growth, yields, week


Dollar near six-week highs as trade, growth worries ramp up

The dollar rose against most other currencies on Monday, holding near a six-week high as fresh worries about U.S.-Sino trade tensions and global growth drove appetite for safe-haven assets.

“U.S.-China talks are the big focus for the week and the dollar strength is indicative of the cautious market sentiment right now owing to its safe-haven status,” said Nick Twidale, chief operating officer at Rakuten Securities.

“The Aussie dollar and the euro are at vulnerable levels right now and further dampening in risk sentiment can lead to further downside in these currencies.”

U.S. negotiators will this week press China on longstanding demands that it reform how it treats U.S. companies’ intellectual property in order to seal a trade deal that could prevent tariffs from rising on Chinese imports.

The dollar gained 0.1 percent versus the yen to 109.82. However, traders expect moves in dollar/yen to be small on Monday as Japanese markets remain shut for a public holiday.

The dollar index, a gauge of its value versus six major peers, was marginally higher at 96.64, on track for its eighth straight day of gains.

Trade tensions between the world’s two largest economies have been a major driver of global investor sentiment over the past year. Market confidence took a hit last week when U.S. President Donald Trump said he did not plan to meet with Chinese President Xi Jinping before a March 1 deadline set by the two countries to achieve a trade deal.

Trump has vowed to increase U.S. tariffs on $200 billion worth of Chinese imports to 25 percent from 10 percent currently if the two sides cannot reach a deal by March 2.

The euro was marginally lower versus the greenback at $1.1322 in early Asian trade while the Aussie was 0.15 percent higher at $0.7099, after a disastrous week in which it lost 2.2 percent.

The strength in the dollar has come despite the Federal Reserve taking a dovish stance at its last policy meeting in January. For now, investors are piling into the safety of the greenback due to fears of a sharp global economic slowdown.

The euro came under pressure as core European government debt yields touched their lowest in over two years. The single currency has lost 2.5 percent so far this month.

Benchmark German yields were just 10 basis points away from zero percent.

The European Commission sharply cut on Thursday its forecasts for euro zone economic growth for this year and next with the bloc’s largest economies expected to be held back by global trade tensions and domestic challenges.

Last month, the International Monetary Fund also downgraded its forecasts for global growth.

Elsewhere, sterling was down 0.1 percent at $1.2935. Traders expect the pound to remain volatile amid heightened political uncertainty over the Brexit process.


Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: dan kitwood, getty images
Keywords: news, cnbc, companies, trade, highs, sentiment, sixweek, near, global, versus, tensions, chinese, ramp, euro, worries, dollar, growth, yields, week


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Dollar gains as growth worry sparks flight to safety; Aussie weakens

The dollar held near a two-week high on Friday, as demand for safe-haven assets rose on uncertainties about the path of U.S.-China trade negotiations and broader worries about slowing global growth. “The dollar is being supported by worries over global growth and external factors,” said Sim Moh Siong, currency strategist at Bank of Singapore. “Markets are waiting to see what policy measures can stabilise growth worldwide…until then, it’s hard to see the dollar weakening.” The dollar index, a g


The dollar held near a two-week high on Friday, as demand for safe-haven assets rose on uncertainties about the path of U.S.-China trade negotiations and broader worries about slowing global growth. “The dollar is being supported by worries over global growth and external factors,” said Sim Moh Siong, currency strategist at Bank of Singapore. “Markets are waiting to see what policy measures can stabilise growth worldwide…until then, it’s hard to see the dollar weakening.” The dollar index, a g
Dollar gains as growth worry sparks flight to safety; Aussie weakens Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-08  Authors: matt cardy, getty images
Keywords: news, cnbc, companies, safety, policy, index, global, weakens, bank, worry, sparks, growth, aussie, gains, flight, versus, trade, euro, european, dollar


Dollar gains as growth worry sparks flight to safety; Aussie weakens

The dollar held near a two-week high on Friday, as demand for safe-haven assets rose on uncertainties about the path of U.S.-China trade negotiations and broader worries about slowing global growth.

Such concerns were brought to the fore on Thursday after the European Commission sharply cut its forecasts for euro zone economic growth this year and next on expectations the bloc’s largest countries will be held back by global trade tensions and domestic challenges.

Investors’ anxieties about the global economy were also compounded by comments from U.S. President Donald Trump, who said he did not plan to meet with Chinese President Xi Jinping before a March 1 deadline to achieve a trade deal.

“The dollar is being supported by worries over global growth and external factors,” said Sim Moh Siong, currency strategist at Bank of Singapore.

“Markets are waiting to see what policy measures can stabilise growth worldwide…until then, it’s hard to see the dollar weakening.”

The dollar index, a gauge of its value versus six major peers was up by around 0.1 percent at 96.59, sitting just shy of its two-week high.

The index has gained for six straight sessions in a row. This was mainly due to a weaker euro, which has around 58 percent weightage in the index, and came despite the Federal Reserve’s dovish shift on interest rates last week.

The Aussie dollar fell 0.3 percent to $0.7076 in Asian trade as the Reserve Bank of Australia cut its growth forecasts.

The Aussie has shed 2.4 percent of its value so far this week after the central bank signalled a shift from its long-standing tightening bias earlier this week.

But some analysts see limited downside for the Aussie.

“Aussie dollar should find technical support at $0.70 versus the dollar..quite a lot of bad news is priced in already and rising iron-ore prices should also be supportive,” Bank of Singapore’s Sim added.

The euro was marginally lower at $1.1338, on track to post its fifth straight day of losses. The single currency has been stumbling due to weaker-than-expected growth data out of the euro zone and expectations that the European Central Bank will keep monetary policy accommodative this year.

Philip Wee, currency strategist at DBS, thinks it is likely the euro will depreciate below $1.10 this year on Europe’s relatively weaker growth and inflation outlook against that of the United States.

The yen was steady at 109.74. Analysts think Japanese demand for foreign bonds has supported dollar/yen. The greenback gained around 0.8 percent versus the yen over the last week.

Sterling was marginally lower at $1.2950. Traders expect the British pound to remain volatile in the near term due to the uncertainty surrounding Brexit.

The United Kingdom is currently on course to leave the European Union on March 29 without a deal unless British Prime Minister Theresa May can convince the bloc to reopen the divorce agreement she reached in November.

The greenback was 0.1 percent higher versus the Canadian dollar at C$1.3319, on track to post its largest percentage gain since mid-June. Canada is a major producer of commodities, including oil, and the loonie has been under pressure due to falling energy prices.

The Bank of Canada said in January that low oil prices and a weak housing market hurt the economy in the fourth quarter of 2018 and would continue to drag on growth in the first quarter of this year. Traders expect the central bank to keep rates steady at its next policy meeting in March.


Company: cnbc, Activity: cnbc, Date: 2019-02-08  Authors: matt cardy, getty images
Keywords: news, cnbc, companies, safety, policy, index, global, weakens, bank, worry, sparks, growth, aussie, gains, flight, versus, trade, euro, european, dollar


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Aussie under pressure after RBA’s dovish shift, yen firmer

In early trade, the Aussie dollar was marginally lower at $0.7103, having lost 1.8 percent in the previous session, its largest percentage decline in more than a year. “We have a clear trading range for the Aussie dollar. The shift in the RBA’s stance will likely make the Aussie test the $0.70 level versus the dollar,” added Michael McCarthy, chief markets strategist at CMC Markets. On Wednesday, the kiwi tracked the Aussie dollar’s fall, losing 1.72 percent, its steepest percentage decline sinc


In early trade, the Aussie dollar was marginally lower at $0.7103, having lost 1.8 percent in the previous session, its largest percentage decline in more than a year. “We have a clear trading range for the Aussie dollar. The shift in the RBA’s stance will likely make the Aussie test the $0.70 level versus the dollar,” added Michael McCarthy, chief markets strategist at CMC Markets. On Wednesday, the kiwi tracked the Aussie dollar’s fall, losing 1.72 percent, its steepest percentage decline sinc
Aussie under pressure after RBA’s dovish shift, yen firmer Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-07  Authors: istock, getty images
Keywords: news, cnbc, companies, rbas, firmer, risks, lost, yen, british, shift, investors, dollar, aussie, dovish, versus, rates, interest, currency, pressure


Aussie under pressure after RBA's dovish shift, yen firmer

The Australian dollar remained near a two-week low on Thursday, as investors wagered that interest rates would most likely be cut this year due to mounting growth risks at home and abroad.

Australia’s central bank on Wednesday opened the door to a possible rate cut as it acknowledged growing economic risks in a remarkable shift from its long-standing tightening bias that sent the local dollar sliding.

In early trade, the Aussie dollar was marginally lower at $0.7103, having lost 1.8 percent in the previous session, its largest percentage decline in more than a year.

“We have a clear trading range for the Aussie dollar. The shift in the RBA’s stance will likely make the Aussie test the $0.70 level versus the dollar,” added Michael McCarthy, chief markets strategist at CMC Markets.

The New Zealand dollar was flat at $0.6765, after falling 0.1 percent earlier in the session after weaker-than-expected unemployment data on Thursday. On Wednesday, the kiwi tracked the Aussie dollar’s fall, losing 1.72 percent, its steepest percentage decline since Aug. 9, 2018.

The yen was steady versus the greenback at 109.91. The dollar has gained around one percent versus the Japanese currency so far this month as global risk sentiment improved leading to a modest rally in global equities.

The dollar index, a gauge of its value versus six major peers was steady at 96.35, hovering close to its two-week high in early Asian trade.

The dollar index has gained for three consecutive sessions, mainly thanks to a weaker euro, which constitutes around 58 percent of the index.

The single currency was flat at $1.1364, having lost 0.45 percent of its value on Wednesday. The euro has lost around 1.3 percent over the last week as investors bet that the European Central Bank will keep monetary policy accommodative due to weaker-than-expected growth and low inflation in the common area.

Elsewhere, sterling was marginally higher at $1.2930. The British pound has weakened by 1.3 percent in February due to Brexit woes. The United Kingdom is currently on course to leave the European Union on March 29 without a deal unless British Prime Minister Theresa May can convince the bloc to reopen the divorce agreement she reached in November and then sell it to skeptical British lawmakers.

The Bank of England is scheduled to meet later on Thursday and is widely expected to keep interest rates unchanged.

“The BoE won’t even consider changing interest rates until the terms to leaving the EU become clear,” said Kathy Lien, managing director of currency strategy at BK Asset Management.

“BoE Governor Mark Carney will reiterate his warning about the risks of a disorderly Brexit and reassure investors that they are ready to increase stimulus if it causes a major disruption in the markets,” added Lien.


Company: cnbc, Activity: cnbc, Date: 2019-02-07  Authors: istock, getty images
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Sonos tanks after disclosing CFO Michael Giannetto will retire this year

Sonos plunged more than 11 percent in after hours trading Wednesday after reporting its Q1 2019 earnings and announcing its Chief Financial Officer Michael Giannetto plans to retire. In an SEC filing, the company said Giannetto will continue in his role until the company appoints a successor. Sonos reported earnings per share of $0.55 versus $0.41 expected by analysts, per Refinitiv, and quarterly revenue of $496 million versus $491 million expected. “So, while we believe we benefited from consu


Sonos plunged more than 11 percent in after hours trading Wednesday after reporting its Q1 2019 earnings and announcing its Chief Financial Officer Michael Giannetto plans to retire. In an SEC filing, the company said Giannetto will continue in his role until the company appoints a successor. Sonos reported earnings per share of $0.55 versus $0.41 expected by analysts, per Refinitiv, and quarterly revenue of $496 million versus $491 million expected. “So, while we believe we benefited from consu
Sonos tanks after disclosing CFO Michael Giannetto will retire this year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: lauren feiner, todd haselton
Keywords: news, cnbc, companies, sonos, retire, europe, million, michael, company, voice, tanks, expected, slower, cfo, growth, disclosing, revenue, giannetto, versus


Sonos tanks after disclosing CFO Michael Giannetto will retire this year

Sonos plunged more than 11 percent in after hours trading Wednesday after reporting its Q1 2019 earnings and announcing its Chief Financial Officer Michael Giannetto plans to retire.

In an SEC filing, the company said Giannetto will continue in his role until the company appoints a successor.

Sonos reported earnings per share of $0.55 versus $0.41 expected by analysts, per Refinitiv, and quarterly revenue of $496 million versus $491 million expected. The company reaffirmed guidance for its 2019 fiscal year, which ends Sept. 30: It expects EBITDA of $83 million to $88 million on revenue of $1.25 billion to $1.28 billion.

Sonos was an early pioneer in wireless home audio, but faces increasing competition from lower-priced offerings from tech giants like Google, Amazon, and Apple. The company made its public market debut last August, and shares are down about 30% from that time.

In a letter to investors, Sonos said its growth in Europe was slower than expected since the growing adoption of voice in the region was skewed toward low-priced products.

“So, while we believe we benefited from consumers upgrading to Sonos in North America, our growth in Europe was slower as voice is in an earlier stage of adoption,” Sonos wrote. “As European consumers increasingly embrace voice technology, we are optimistic we will benefit from a similar step-up trend in Europe in the future.”

Watch: Sonos CEO: We’re not focused on pushing one particular voice or music streaming service


Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: lauren feiner, todd haselton
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The future of the movie experience: AMC versus MoviePass

The streaming wars continue to revolutionize how consumers are able to get their content, making it easier than ever for people to enjoy movies. Platforms like Netflix, Hulu and YouTube are putting the pressure on theaters to find a way to keep customers to enjoy the movie going experience. Both AMC Theaters and MoviePass offer their own unique plans, but which one is better? Jon Fortt sits down with Ed Lee of the NY Times, AMC CEO Adam Aron and MoviePass CEO Mitch Lowe to discuss the changing l


The streaming wars continue to revolutionize how consumers are able to get their content, making it easier than ever for people to enjoy movies. Platforms like Netflix, Hulu and YouTube are putting the pressure on theaters to find a way to keep customers to enjoy the movie going experience. Both AMC Theaters and MoviePass offer their own unique plans, but which one is better? Jon Fortt sits down with Ed Lee of the NY Times, AMC CEO Adam Aron and MoviePass CEO Mitch Lowe to discuss the changing l
The future of the movie experience: AMC versus MoviePass Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-05  Authors: jonathan kim, jon fortt
Keywords: news, cnbc, companies, model, enjoy, theaters, future, moviepass, youtube, fortt, movie, amc, versus, ceo, experience, weekly


The future of the movie experience: AMC versus MoviePass

The streaming wars continue to revolutionize how consumers are able to get their content, making it easier than ever for people to enjoy movies. Platforms like Netflix, Hulu and YouTube are putting the pressure on theaters to find a way to keep customers to enjoy the movie going experience.

One solution: Bring the subscription model to the theaters.

Both AMC Theaters and MoviePass offer their own unique plans, but which one is better? And can this model last?

Jon Fortt sits down with Ed Lee of the NY Times, AMC CEO Adam Aron and MoviePass CEO Mitch Lowe to discuss the changing landscape of the movie business. Plus, CNBC’s Julia Boorstin joins from Sun Valley.

Fortt Knox is a weekly podcast from CNBC anchor Jon Fortt . Previous episodes of the program can be found here.


Company: cnbc, Activity: cnbc, Date: 2019-02-05  Authors: jonathan kim, jon fortt
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Aussie dollar slides on dismal China data; yen steadies

The Australian dollar fell versus the greenback on Friday after a private survey showed factory activity in China shrank by the most in almost three years in January. The Australian dollar, often considered a barometer for global risk appetite, fell 0.4 percent to $0.7246. The yen was steady at 108.8 against the dollar after hitting a two-week high in the previous session. The dollar is widely expected to weaken this year as the Federal Reserve turns more cautious about further rate increases. A


The Australian dollar fell versus the greenback on Friday after a private survey showed factory activity in China shrank by the most in almost three years in January. The Australian dollar, often considered a barometer for global risk appetite, fell 0.4 percent to $0.7246. The yen was steady at 108.8 against the dollar after hitting a two-week high in the previous session. The dollar is widely expected to weaken this year as the Federal Reserve turns more cautious about further rate increases. A
Aussie dollar slides on dismal China data; yen steadies Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: matt cardy, getty images
Keywords: news, cnbc, companies, trade, yen, versus, data, aussie, risk, deal, remain, expected, dollar, steadies, china, sentiment, dismal, slides, steady, president


Aussie dollar slides on dismal China data; yen steadies

The Australian dollar fell versus the greenback on Friday after a private survey showed factory activity in China shrank by the most in almost three years in January.

The Australian dollar, often considered a barometer for global risk appetite, fell 0.4 percent to $0.7246. The kiwi was at $0.6907, down 0.2 percent versus the greenback.

China’s gloomy factory readings have brought global growth worries to the fore again, which is likely to benefit safe-haven currencies such as the Japanese yen.

“Dollar/yen is expected to remain weak given a dovish Federal Reserve but we can expect a bigger move down if there is a return of risk-off sentiment,” said Sim Moh Siong, currency strategist at Bank of Singapore.

The yen was steady at 108.8 against the dollar after hitting a two-week high in the previous session.

However, broader risk sentiment still remained fairly strong after U.S. President Donald Trump said on Thursday he would meet with Chinese President Xi Jinping soon to try and seal a comprehensive trade deal as the top U.S. negotiator reported “substantial progress” in two days of high-level talks.

The dollar index, a gauge of its value versus six major peers, was steady at 95.60. The index is set to end the week in the red, after losing 0.6 percent of its value last week.

The dollar is widely expected to weaken this year as the Federal Reserve turns more cautious about further rate increases.

On Wednesday, the U.S. central bank held interest rates steady as expected but discarded pledges of “further gradual increases” in interest rates, and said it would be “patient” before making any further moves.

Trade talks between the United States and China could also have an impact on the dollar, which has acted as a safe-haven in times of uncertainty.

President Trump said he wanted a “very big” trade deal with China, but he signaled there could be delays if talks fail to meet his goals of opening the Chinese economy broadly to U.S. industry and agriculture.

Analysts say a comprehensive trade deal between the world’s two largest economies would most likely boost risk sentiment and lead to a weaker dollar.

Markets are now focusing on U.S. jobs data later on Friday. Analysts note that any weakness in the labor market and a fall in wage inflation would only reinforce the dovish outlook for the dollar this year.

The euro was flat at $1.1446 after having fallen 0.3 percent in the last session. The single currency has not managed to gain despite broader dollar weakness as growth and inflation in the euro zone remain weaker than expected.

Indeed, Jens Weidmann, the Bundesbank president and a member of the European Central Bank Governing Council, painted a bleak picture of the German economy on Thursday, saying the slump in Europe’s largest economy will last longer than initially thought.

Sterling, which is grappling with troubles of its own on uncertainty over a deal to avoid a chaotic British exit from the European Union, was flat at $1.3109. Analysts expect the British pound to remain volatile in the coming weeks.

— CNBC contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: matt cardy, getty images
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Forex markets: British pound, Brexit in focus

The Sun report pushed the pound 0.4 percent higher to $1.3114, its highest since Nov. 8, in Asian trade. Against the euro, sterling gained 0.25 percent to 0.8631. A technical breakout to 1.38 is also a possibility,” said Michael McCarthy, chief markets strategist at CMC Markets in Melbourne. Global growth concerns have kept broader risk appetites in check in currency markets over the past few weeks. Against the yen, the dollar gained 0.16 percent to 109.8 on Friday.


The Sun report pushed the pound 0.4 percent higher to $1.3114, its highest since Nov. 8, in Asian trade. Against the euro, sterling gained 0.25 percent to 0.8631. A technical breakout to 1.38 is also a possibility,” said Michael McCarthy, chief markets strategist at CMC Markets in Melbourne. Global growth concerns have kept broader risk appetites in check in currency markets over the past few weeks. Against the yen, the dollar gained 0.16 percent to 109.8 on Friday.
Forex markets: British pound, Brexit in focus Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-25  Authors: matt cardy, getty images
Keywords: news, cnbc, companies, monetary, focus, dollar, yen, pound, gained, euro, british, versus, risk, sterling, brexit, trade, growth, markets, forex


Forex markets: British pound, Brexit in focus

Sterling scaled an 11-week high on Friday after The Sun reported that Northern Ireland’s Democratic Unionist Party has privately decided to offer conditional backing for Prime Minister Theresa May’s Brexit deal next week.

The pound has climbed about 1.8 percent this week, moving above the key psychological level of $1.30 to the dollar on hopes the United Kingdom might avoid a no-deal Brexit on March 29.

The Sun report pushed the pound 0.4 percent higher to $1.3114, its highest since Nov. 8, in Asian trade.

Against the euro, sterling gained 0.25 percent to 0.8631. It advanced 0.35 percent versus the Australian dollar to 1.8478.

“If this report is true, I expect sterling to rally to 1.32 versus the dollar. A technical breakout to 1.38 is also a possibility,” said Michael McCarthy, chief markets strategist at CMC Markets in Melbourne.

The euro gained 0.1 percent to $1.1321, although longer term prospects look bleak for the single currency. On Thursday, the European Central Bank provided the latest warning about Europe’s dimming outlook, forecasting weaker-than-expected growth in the near term.

Analysts expect the euro to underperform peers in the near term as monetary policy is expected to remain accommodative in the euro area this year.

Global growth concerns have kept broader risk appetites in check in currency markets over the past few weeks. Earlier in the week, China reported its weakest growth in three decades, and the International Monetary Fund downgraded its forecasts for the global economy for this year and next.

Market participants have also been increasingly concerned over the U.S.-Sino trade tensions. U.S. Commerce Secretary Wilbur Ross said on Thursday that the United States and China are “miles and miles” from resolving trade issues. Trade tensions between the world’s two largest economies have kept a lid on investor risk appetites in the new year, as happened for long periods in 2018.

The dollar index, a gauge of its value versus six major peers, fell 0.19 percent to 96.41.

The dollar is facing a tough year ahead as growth at home and globally comes under pressure and the Federal Reserve moves closer to pressing the pause button on its steady rate-hike cycle.

Interest rate futures are pricing the Fed to stand pat on rates through 2019, a turnaround from the four hikes delivered by the central bank last year in a major boost to the dollar.

Against the yen, the dollar gained 0.16 percent to 109.8 on Friday. Despite weakening global sentiment due to fears of a sharp economic slowdown, the safe-haven yen has not attracted much buying interest.

Japanese investors have been net buyers of foreign bonds, and analysts think this could be one reason for the yen’s underperformance.

On Wednesday, the Bank of Japan kept its ultra-loose monetary policy unchanged. The BOJ cut its inflation forecasts and warned of growing risks to the economy from trade protectionism and slowing global demand. A dovish BOJ is most likely to keep any yen appreciation in check.

Against the U.S. dollar on Friday, both the Aussie dollar and kiwi reversed early losses and gained 0.1 percent, to $0.7103 and $0.6768 respectively, as risk sentiment improved slightly in Asia.


Company: cnbc, Activity: cnbc, Date: 2019-01-25  Authors: matt cardy, getty images
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Dollar hampered by global growth, trade war worries; Aussie slips

The dollar was hamstrung versus its rivals on Thursday, restrained by concerns over global growth, the U.S. government shutdown and a yet-unresolved U.S.-Sino trade dispute. “Trade tensions are the most dominant factor for investor sentiment right now and will drive market flows,” said Nick Twidale, chief operating officer at Rakuten Securities. Twidale added that investor risk appetite will only improve once concerns over the partial U.S. government shutdown and trade tensions fade. Global grow


The dollar was hamstrung versus its rivals on Thursday, restrained by concerns over global growth, the U.S. government shutdown and a yet-unresolved U.S.-Sino trade dispute. “Trade tensions are the most dominant factor for investor sentiment right now and will drive market flows,” said Nick Twidale, chief operating officer at Rakuten Securities. Twidale added that investor risk appetite will only improve once concerns over the partial U.S. government shutdown and trade tensions fade. Global grow
Dollar hampered by global growth, trade war worries; Aussie slips Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-24  Authors: dan kitwood, getty images
Keywords: news, cnbc, companies, war, traders, trade, global, hampered, aussie, investor, worries, growth, versus, slips, dollar, tensions, policy, sterling


Dollar hampered by global growth, trade war worries; Aussie slips

The dollar was hamstrung versus its rivals on Thursday, restrained by concerns over global growth, the U.S. government shutdown and a yet-unresolved U.S.-Sino trade dispute.

“Trade tensions are the most dominant factor for investor sentiment right now and will drive market flows,” said Nick Twidale, chief operating officer at Rakuten Securities.

Twidale added that investor risk appetite will only improve once concerns over the partial U.S. government shutdown and trade tensions fade.

The Aussie dollar was a big mover in the Asian session, trading 0.22 percent lower at $0.7126 after National Australia Bank said it would raise mortgage rates by 12 to 16 basis points. Earlier, the Aussie was in positive terrain on the back of solid jobs data.

The partial U.S. government shutdown, now in its 34th day has hurt investor sentiment. U.S. Republican Senate Majority Leader Mitch McConnell said he planned to hold a vote on Thursday on a Democratic proposal that would fund the government for three weeks.

Global growth concerns have also rattled investor appetite for risk. On Monday, the International Monetary Fund (IMF) cut its 2019 and 2020 global growth forecasts, citing a bigger-than-expected slowdown in China and the eurozone, and said failure to resolve trade tensions could further destabilize a slowing global economy.

In Asian trading, the yen was marginally higher at 109.51, after weakening 0.2 percent versus the greenback in the previous session.

On Wednesday, the Bank of Japan kept its policy unchanged. The BOJ cut its inflation forecasts and warned of growing risks to the economy from trade protectionism and slowing global demand.

The dollar index, a gauge of its value versus six major peers, was steady at 96.06.

Markets are bearish on the outlook for the dollar this year. Traders in interest rate futures are wagering that the Federal Reserve will stand pat on rates in 2019 in the face of growth risks both at home and globally.

All eyes will be on the euro as investors await the European Central Bank’s monetary policy announcement later on Thursday where it is all but certain to keep policy unchanged.

The single currency was marginally higher at $1.1383. The euro has lost around 1.6 percent of its value over the last two weeks as traders expect the ECB to remain dovish and keep monetary policy accommodative for an extended period of time. Low inflation as well as weaker-than-expected economic activity in Germany and France, however, may lead ECB President Mario Draghi to point towards a potentially longer lasting slowdown.

“If the central bank lowers its growth or inflation forecasts and Draghi focuses on weaker growth, we could see EUR/USD fall to $1.12 easily,” said Kathy Lien, managing director of currency strategy at BK Asset Management.

Elsewhere, sterling traded marginally higher at $1.3075, hovering near highs last seen in mid-November in a sign traders expect Britain to avoid a chaotic exit from the European Union.

Since Prime Minister Theresa May’s divorce deal with the EU was rejected by lawmakers last week in the biggest defeat in modern British history, lawmakers have been trying to plot a course out of the crisis, yet no option has the majority support of parliament.

Some analysts expect limited upside for sterling. Philip Wee, currency strategist at DBS says that most of the gains in the pound are due to the unwinding of short positions. He sees sterling capped in the range of $1.3170-1.3240.


Company: cnbc, Activity: cnbc, Date: 2019-01-24  Authors: dan kitwood, getty images
Keywords: news, cnbc, companies, war, traders, trade, global, hampered, aussie, investor, worries, growth, versus, slips, dollar, tensions, policy, sterling


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Yen weakens in Asian trade; Aussie, kiwi dollar strengthen

The safe-haven yen fell versus its peers on Wednesday as risk appetite marginally improved in Asian trading, though concerns over slowing global growth and U.S.-Sino trade tensions are likely to cap gains in riskier assets. Against the Aussie dollar, it fell by 0.5 percent. “Nervousness around global growth and trade tensions is certainly a factor driving the markets right now,” said Michael McCarthy, chief markets strategist at CMC Markets. On Monday, the International Monetary Fund (IMF) cut i


The safe-haven yen fell versus its peers on Wednesday as risk appetite marginally improved in Asian trading, though concerns over slowing global growth and U.S.-Sino trade tensions are likely to cap gains in riskier assets. Against the Aussie dollar, it fell by 0.5 percent. “Nervousness around global growth and trade tensions is certainly a factor driving the markets right now,” said Michael McCarthy, chief markets strategist at CMC Markets. On Monday, the International Monetary Fund (IMF) cut i
Yen weakens in Asian trade; Aussie, kiwi dollar strengthen Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-23  Authors: torsakarin, istock, getty images
Keywords: news, cnbc, companies, traders, growth, versus, trade, yen, aussie, tensions, brexit, kiwi, global, markets, strengthen, slowing, weakens, dollar, asian


Yen weakens in Asian trade; Aussie, kiwi dollar strengthen

The safe-haven yen fell versus its peers on Wednesday as risk appetite marginally improved in Asian trading, though concerns over slowing global growth and U.S.-Sino trade tensions are likely to cap gains in riskier assets.

The yen weakened by 0.25 percent versus the greenback to 109.62. Against the Aussie dollar, it fell by 0.5 percent.

As expected, the Bank of Japan kept monetary policy unchanged and trimmed its inflation forecast, with a larger-than-expected drop in December export data earlier in the day underlining the need for continued support for the trade-reliant economy.

The Australian dollar gained 0.2 percent versus the greenback to $0.7137.

Currency markets have been whipsawed over recent weeks as traders tried to come to terms with a range of issues from Brexit to slowing global growth and the outlook for major central banks.

“Nervousness around global growth and trade tensions is certainly a factor driving the markets right now,” said Michael McCarthy, chief markets strategist at CMC Markets.

“Markets have also seen a spectacular run since late December..so the recent correction in equities can also be due to positioning.”

On Monday, the International Monetary Fund (IMF) cut its 2019 and 2020 global growth forecasts, citing a bigger-than-expected slowdown in China and the eurozone, and said failure to resolve trade tensions could further destabilize a slowing global economy.

Growth in China last year was the slowest since 1990 and is set to weaken further this year before stimulus measures start to kick in.

Investors are hoping for a breakthrough in U.S.-Sino trade talks, with the tariff dispute between the world’s largest economies already rippling through financial markets and global demand.

A report by the Financial Times that the United States had rejected China’s offer for preparatory trade talks dampened risk sentiment overnight, though it was later denied by a White House adviser.

The dollar index was marginally higher at 96.32. Traders in interest rate futures are wagering that the Federal Reserve will stand pat on rates in 2019 in the face of risks both at home and globally.

The dollar rally last year was mainly driven by the Fed’s four rate hikes, so traders expect a pause in the tightening cycle to cap the U.S. currency.

The euro was steady at $1.1367, while sterling edged up marginally to $1.2961, having gaining 0.5 percent in the previous session.

Data on Tuesday showed that Britain’s labor market remained robust despite an economic slowdown ahead of Brexit. Average weekly earnings, including bonuses, rose by 3.4 percent on the year, the biggest rise since mid-2008.

Sterling is sitting close to its highs last seen in mid-November, a sign that traders expect Britain to avoid a chaotic exit from the European Union despite the looming March 29 Brexit date.

Since Prime Minister Theresa May’s divorce deal with the EU was rejected by lawmakers last week in the biggest defeat in modern British history, lawmakers have been trying to plot a course out of the crisis, yet no option has the majority support of parliament.

“The market is now completely discounting the prospect of a hard Brexit, though the political risk still remains in play and volatility is sure to ratchet higher if no clear path is visible to the market,” said Kathy Lien, managing director of currency strategy at BK Asset Management,

The New Zealand dollar gained 0.5 percent in early Asian trade to $0.6780 after data showed that inflation edged higher in the fourth quarter and reducing the possibility of an interest rate cut.


Company: cnbc, Activity: cnbc, Date: 2019-01-23  Authors: torsakarin, istock, getty images
Keywords: news, cnbc, companies, traders, growth, versus, trade, yen, aussie, tensions, brexit, kiwi, global, markets, strengthen, slowing, weakens, dollar, asian


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