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Foreign Exchange

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  • DUBAI, March 26- Saudi Arabia has begun drawing down its foreign currency reserves for the first time since 2009 to cover a record state budget deficit caused by the plunge in oil prices, data from the Saudi central bank indicated on Thursday. The central bank's net foreign assets fell 1.4 percent from a year earlier to 2.650 trillion riyals in February, according...

  • Geopolitical risk adds to stock issues Thursday, 26 Mar 2015 | 9:53 AM ET
    Southern People's Resistance militants loyal to Yemen's President Abd-Rabbu Mansour Hadi move tanks from the al-Anad air base in the country's southern province of Lahej March 24, 2015.

    Markets were already contending with negative earnings growth, high valuations, and the Fed's interest rate hike ahead of Saudi airstrikes on Yemen.

  • China quietly drops limit on foreign fund investments Thursday, 26 Mar 2015 | 8:55 AM ET

    SHANGHAI, March 26- China's foreign exchange regulator granted a foreign fund management company a quota of more than $1 billion on inbound portfolio investment for the first time on Thursday, in a move toward increasing international use of the yuan currency. Hitherto, only foreign central banks, monetary authorities and sovereign wealth funds had been...

  • LONDON, March 26- The dollar sank to a five-week low against the yen on Thursday, hit by the combination of another round of weaker-than-expected U.S. data and a bid for traditional safe havens by investors worried about stock markets and Gulf oil supplies. News that Saudi Arabia and its allies in the Middle East had launched air strikes against Iran- allied forces...

  • ZURICH, March 26- The Swiss National Bank spent 25.8 billion Swiss francs defending its cap on the currency late last year before jettisoning the policy as too costly for the country's economy, it said on Thursday. The SNB shocked markets in January when it removed the 1.20 per euro ceiling on the Swiss franc, sending the currency soaring, stocks plunging and...

  • FOREX-Yen, franc surge on Saudi worries, dollar weakens Thursday, 26 Mar 2015 | 5:20 AM ET

    LONDON, March 26- The dollar sank to a five-week low against the yen on Thursday, hit by the combination of another round of poor U.S. data and a bid for traditional safe havens by investors worried about stock markets and oil supplies out of the Middle East. News that Saudi Arabia and its Gulf Arab allies had launched air strikes against Iran- allied forces in Yemen...

  • HONG KONG, March 26- China sent a strong message to the International Monetary Fund this week urging that the yuan be included in its special drawing rights basket, with top officials promising further reforms and striving for full convertibility this year. The yuan's possible inclusion in the basket, an international reserve asset, will greatly enhance...

  • FOREX-Dollar drifts lower, undermined by soft U.S. data Thursday, 26 Mar 2015 | 12:10 AM ET

    *Forex market reaction muted to Yemen escalation, oil price surge. TOKYO/ SYDNEY, March 26- The U.S. dollar ground lower in small ranges on Thursday, edging towards a four-week low against the yen in the wake of disappointing U.S. data that suggested the greenback's recent rally is on ice for now. News that Saudi Arabia and its Gulf Arab allies had launched air strikes...

  • *Dollar index softer, euro back near $1.10. SYDNEY, March 26- The corrective bounce in the U.S. dollar faded again overnight, leaving the currency a shade lower early on Thursday in another hint the recent one-way bullish bet is on ice for now. Also providing an uncomfortable read for dollar bulls, Chicago Fed President Charles Evans said he was concerned the strong...

  • Dollar slips further after weak US durable goods data Wednesday, 25 Mar 2015 | 4:18 PM ET

    The dollar fell against a basket of major currencies after weaker-than-expected U.S. data combined with a robust survey of German business morale.

  • Don't read too much into Wednesday's declines Wednesday, 25 Mar 2015 | 2:21 PM ET
    Traders work on the floor of the New York Stock Exchange.

    Reasons for market's weakness

  • *Gold near $1,200 an ounce as dollar dip lifts oil. NEW YORK, March 25- Wall Street stocks tumbled and the dollar slipped on Wednesday after government data signaled the U.S. economic expansion was slowing, while gains in the euro prompted a pullback in European stock markets. The main U.S. stock indices were off more than 1 percent midway through a session that began...

  • LONDON, March 25- Sterling fell against the euro on Wednesday, hitting a one-month low as investors pushed back expectations of interest rate hikes amid growing talk that inflation in Britain will stay low for sometime to come. Annual inflation in Britain dropped to zero in February and investors are factoring in the chance of a first rate hike in mid-2016,...

  • Europe close: ECB raises cap for Greek banks   Wednesday, 25 Mar 2015 | 12:29 PM ET
    Europe close: ECB raises cap for Greek banks

    CNBC's Simon Hobbs reports on all the market moving events in Europe today, including the European Central Bank approving a raise of more than 1 billion euros in the emergency funds available to Greek lenders.

  • MOSCOW, March 25- The rouble hit fresh 2015 highs early on Wednesday as Russian exporters sold foreign currencies to pay monthly taxes, before falling back sharply after these taxes had been paid. Forex Club analyst Alena Afanaseva said in a note that the behavior of household depositors may have been a factor behind the rouble's recent strength, with Russians...

  • GLOBAL MARKETS-Wall St, dollar slip on U.S. growth worries Wednesday, 25 Mar 2015 | 11:40 AM ET

    NEW YORK, March 25- Wall Street stocks and the dollar slipped on Wednesday as government data signaled the U.S. economic expansion was slowing, while gains in the euro prompted a pullback in European stock markets. A modest lift at the opening bell for U.S. stocks on news of a deal between Kraft Foods and Heinz Co to create North America's third-largest food company...

  • US STOCKS-Wall St off in choppy trading after soft data Wednesday, 25 Mar 2015 | 11:30 AM ET

    *Kraft up 42 pct, Kofax adds 46 pct after separate deal news. NEW YORK, March 25- U.S. stocks fell in choppy, tight-range trading on Wednesday, with indexes reacting to moves in currency markets and to a gauge of industrial orders that unexpectedly fell last month. "The dollar strength can sap earnings growth, but if you continue to see soft economic data here, a...

  • How to trade stocks around tax deadline Wednesday, 25 Mar 2015 | 10:46 AM ET
    A trader works on the floor of the New York Stock Exchange.

    Certain sectors are big winners: Industrials, energy and utilities were up 100 percent of the time as well in the 10 trading days after April 15.

  • The euro rose above $1.10 for a second straight session after the Commerce Department said non-defense capital goods orders excluding aircraft dropped 1.4 percent last month after a revised 0.1 percent dip in January. "The dollar is overbought and it's expensive, so now any U.S. data weakness we have leads investors to square up overextended dollar...

  • LONDON, March 25- Chicago Federal Reserve President Charles Evans said on Wednesday he was concerned the strong dollar's "clear disinflationary pressure" could get embedded in expectations. The dollar index hit a 12- year high earlier this month against a basket of major currencies but has retreated since the Fed downgraded its forecasts for growth,...