Foreign Exchange News Results

  • Global Stocks Surge as U.S. Clinches Stimulus Deal

    U.S. futures rose, stock markets in Asia-Pacific and Europe gained and the dollar weakened as lawmakers in Washington and the Trump administration reached an agreement on an estimated $2 trillion stimulus package to limit the economic damage from the coronavirus pandemic. Futures for the S&P 500 and Dow Jones Industrial Average rose, suggesting U.S. shares are likely to gain when the market opens in New York. The WSJ Dollar Index declined about 0.5%, with currencies including...

  • Bond ETFs Flash Warning Signs of Growing Mismatch

    A broad set of bond exchange-traded funds are trading out of sync with their underlying assets, testing investors' faith in a fast-growing part of the investment world. Bond ETFs of BlackRock Inc. (BLK), Vanguard Group and others traded at historic discounts to the net asset value of their underlying bonds in recent days. The iShares iBoxx USD Investment Grade Corporate Bond ETF closed down at a discount of over 5% late last week, a record since 2008. The $28 billion bond fund, with the...

  • Stocks Climb and Dollar Weakens After Tumultuous Week in Markets

    U.S. stocks climbed Friday as massive intervention by central banks gave global markets a reprieve at the end of a week of tumultuous trading. The Dow Jones Industrial Averaged rose 302 points, or 1.5%, after swinging between gains and losses in the opening minutes of trading. The S&P 500 climbed 1.3%, while the tech-heavy Nasdaq Composite jumped 2.4%.

  • Stocks Open Higher and Dollar Weakens After Tumultuous Week in Markets

    Stocks rose and the U.S. dollar weakened against other currencies Friday, offering global markets a reprieve at the end of a week of tumultuous trading. The Dow Jones Industrial Averaged added 0.5%, while the S&P 500 gained 0.7%. Shares in oil-and-gas companies helped the pan-continental Stoxx Europe 600 gauge rally 2.6%, buoyed by higher energy prices.

  • Dollar and Treasury Yields Fall as Funding Stress Eases

    The clamor for dollars eased and Treasury yields declined Friday, signs that the Federal Reserve's moves to increase dollar access are calming markets at the heart of the global financial system. The ICE Dollar Index, which tracks the greenback against a basket of currencies, fell 0.7% Friday following three days of gaining more than 1%. Currencies that have suffered against a strong dollar gained, with the British pound climbing 2.3% after hitting its lowest level in 35 years...

  • Stocks and Currencies Rise as Fed's Actions Ease Strains

    Global stocks and some currencies rallied after the Federal Reserve said it would provide billions of dollars at near-zero rates to central banks grappling with greenback shortages in many parts of the world. Futures tied to the S&P 500 rose 4.2% Friday, suggesting the benchmark U.S. index might make strong gains for a second successive day. Europe's Stoxx Europe 600 jumped 4.8%, led higher by shares in oil-and-gas companies buoyed by rising energy prices.

  • China Commercial Banks Purchased $14.2 Billion of Forex in February

    BEIJING--China's commercial banks bought $14.2 billion of foreign exchange in February, up from $6.4 billion purchased in January, the State Administration of Foreign Exchange said Friday. In the first two months of the year, the country's commercial banks purchased a total of $20.6 billion of foreign exchange, reflecting stable cross-border capital flows, SAFE said. The regulator said production and business in China has gradually recovered and yuan-denominated assets...

  • Stocks and Currencies Rise as Fed's Actions Ease Strains

    Stocks rose Friday and some Asian currencies rebounded after the Federal Reserve said it would provide billions of dollars at near-zero rates to central banks grappling with dollar shortages in many parts of the world. South Korea's Kospi soared and closed more than 7% higher after a massive sell-down a day earlier. Hong Kong's Hang Seng gained more than 4%, while the Shanghai Composite Index closed 1.6% higher.

  • Stocks and Currencies Rise as Fed's Actions Ease Strains

    Stocks rose Friday and some Asian currencies rebounded after the Federal Reserve said it would provide billions of dollars at near-zero rates to central banks grappling with dollar shortages in many parts of the world. Australia's S&P/ASX 200, South Korea's Kospi and Hong Kong's Hang Seng each gained more than 3%, while stock-market benchmarks in Singapore, Malaysia and Shanghai were up more than 1%. The Australian dollar, which on Thursday had hit an 18- year low of 0.551 per...

  • Federal Reserve Establishes Currency Swap Lines With Nine More Countries

    The Federal Reserve said on Thursday it would establish a temporary program to help lend dollars to nine central banks to alleviate ongoing strains in financial markets. The Fed on Sunday already announced it would adjust a program with five other foreign central banks to make U.S. dollars available overseas at near-zero interest rates and for periods of up to 84 days to ensure markets don't run short of currency outside of the U.S. Many business transactions take place outside...

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