Currencies foreign exchange markets

“More important for pound performance in the near-term were the BoE’s comments on the likelihood of further policy easing later this year,” analysts at MUFG wrote. “The comments did not send a strong signal that the BoE is moving closer to adopting negative rates. … [Read more...] about Stocks slip as markets await U.S. stimulus

* Mexican peso leads FX losses for the day * Most Latam stocks weaken * Argentina debt deadline in focus By Ambar Warrick Aug 3 (Reuters) - Brazil's real fell on Monday as markets factored in an interest rate cut expected later in the week, with other Latin American currencies following suit amid surging coronavirus cases in the region. Most currencies retreated after strong gains in July, where hopes of a COVID-19 vaccine and better commodity prices had supported buying. The real fell about 1.7%, ahead of a central bank meeting on Wednesday where the bank is expected to cut rates further into record-low territory, as it continues to try and mitigate the impact of the COVID-19 pandemic. Latin America's largest economy appeared to be recovering steadily from the shock of the pandemic, with data showing that manufacturing activity expanded at a record pace in July. A central bank survey of economists also showed that the gloom over Brazil's economy lifted for a fifth week in a row. … [Read more...] about EMERGING MARKETS-Latam FX falls after strong July; Brazil’s real hit by rate-cut bets

Polish manufacturing recovered in July after a coronavirus lockdown was eased, a survey showed on Monday, but Hungary posted a more modest improvement and the Czech Republic did not return to growth, suggesting the region still faces challenges. … [Read more...] about EMERGING MARKETS-Turkish lira leads EMEA FX gains as July factory data improves

Data showed Turkey’s July manufacturing activity grew at its fastest pace in nine years, while moderating consumer price inflation in the country pointed to more economic stability. However, analysts were sceptical that inflation could remain fettered. … [Read more...] about EMERGING MARKETS-Russia lags EMEA on weak oil prices; Turkey’s lira rises

* Brazil's largest lender Itau Unibanco falls after weak results * Chilean, Mexican stocks rise * Weak oil, metal prices hit FX * Argentine bond prices up 8.1% on average- Traders By Ambar Warrick Aug 4 (Reuters) - Most Latin American currencies were undercut by weakness in commodity markets on Tuesday, while Argentine stocks and bonds rallied after the country struck a deal to restructure $65 billion in sovereign debt. Argentina said it had reached a deal with three creditor groups, which potentially could help it climb out of a damaging default and revive the recession-hit economy. The country has a total debt pile of $323 billion, around 90% of gross domestic product. Argentina's Merval stock index rose nearly 5%, while the peso showed little reaction to the deal. The currency has been heavily regulated by the government to maintain stability in its currency market. "The agreement with external bondholders is a welcome development in our view," Goldman Sachs analysts wrote in a … [Read more...] about EMERGING MARKETS-Commodity-linked Latam FX falls; Argentine bonds rally on debt deal