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India

Stanley White

Japan stocks fall, post biggest weekly loss in 3 months on virus worries

30 Oct 2020

TOKYO, Oct 30 Japanese shares fell on Friday and posted their biggest weekly loss in three months as mixed earnings, rising coronavirus cases and uncertainty over the U.S. presidential election hurt sentiment.

Japanese shares slump on virus worries, mixed earnings

30 Oct 2020

TOKYO, Oct 30 Japanese shares fell on Friday and were set for their biggest weekly loss in more than two months as mixed earnings, rising coronavirus cases and uncertainty over the U.S. presidential election hurt sentiment.

Japan stocks fall on coronavirus worries; upbeat earnings outlook limits losses

29 Oct 2020

TOKYO, Oct 29 Japanese shares fell to a one-month low on Thursday weighed by concerns about fresh coronavirus lockdowns in Europe, although companies issuing bullish forecasts during earnings season limited losses.

Japanese shares touch one-month low on renewed coronavirus fears

29 Oct 2020

TOKYO, Oct 29 Japanese shares fell to a one-month low on Thursday as the return of coronavirus lockdowns in France and Germany put a damper on investor sentiment only days before the U.S. presidential election.

FOREX-Euro wilts as coronavirus lockdown worries hurt sentiment

28 Oct 2020

* Graphic: World FX rates in 2020 https://tmsnrt.rs/2RBWI5E * Report of new lockdowns in France hurts euro * Investors grow nervous before U.S. elections * Aussie in focus amid expectations for monetary easing By Stanley White TOKYO, Oct 28 The euro fell against the dollar on Wednesday following a media report that France's government was leaning toward reinstating a national lockdown to curb a resurgence in coronavirus cases. The dollar, however, gave up early gains and fell against the yen as sentiment turned bearish due to uncertainty about the outcome of the U.S. presidential election next week. The spike in infections "is certainly a concern for France and southern Europe, so the euro's upside is heavy", said Junichi Ishikawa, senior foreign exchange strategist at IG Securities in Tokyo. He added that he does not expect the dollar to gain much against other currencies, "because people have been overly complacent about how markets will react after the U.S. election". The euro fell 0.14% to $1.1780 on Wednesday, down for a third consecutive session. Sterling held steady at $1.3043, supported by hopes for a last-minute trade deal between Britain and the European Union. The dollar fell to 104.23 yen, approaching a one-month low. Traders are bracing for more volatility in currency markets as the virus spreads in Europe, Britain, and the United States, fanning concerns that economic growth will weaken once again. French President Emmanuel Macron will give a televised address on Wednesday evening. His office has not said what the speech is about, but local media has reported that the government is exploring imposing a lockdown from midnight on Thursday. FOCUS ON U.S. ELECTIONS Traders, however, say the bigger focus is on the United States, which is also struggling to contain the coronavirus as people vote early before elections on Nov. 3. Polls show Democrat rival Joe Biden has a lead over incumbent Republican President Donald Trump, but some investors are sceptical because the polls did not predict Trump's victory four years ago. Legal battles between Republicans and Democrats over how to count votes have raised the risk that the outcome of the election will be disputed, which is a negative factor for the dollar, some analysts say. Sentiment for the greenback has also weakened after Trump conceded that an additional round of U.S. fiscal stimulus is unlikely before the election. The onshore yuan fell slightly to 6.7097 against the dollar, extending a pullback from a 27-month high hit last week as the People's Bank of China takes steps to curb the currency's appreciation. The Australian dollar edged higher after data showed consumer prices in the third quarter rose 1.6% from the prior quarter, slightly more than the median estimate. The Reserve Bank of Australia is widely expected to lower interest rates and expand its government debt purchases at its next meeting on Nov. 3. ======================================================== Currency bid prices at 1:50PM (0450 GMT) Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Euro/Dollar $1.1780 $1.1796 -0.14% +5.08% +1.1799 +1.1770 Dollar/Yen 104.2150 104.4350 -0.16% -4.00% +104.5500 +104.2700 Euro/Yen 122.75 123.14 -0.32% +0.66% +123.1800 +122.7600 Dollar/Swiss 0.9089 0.9088 +0.02% -6.06% +0.9099 +0.9086 Sterling/Dollar 1.3041 1.3047 -0.04% -1.67% +1.3042 +1.3020 Dollar/Canadian 1.3187 1.3187 +0.00% +1.51% +1.3199 +1.3185 Aussie/Dollar 0.7144 0.7129 +0.20% +1.80% +0.7145 +0.7113 NZ 0.6709 0.6708 +0.03% -0.28% +0.6710 +0.6693 Dollar/Dollar All spots Tokyo spots Europe spots Volatilities Tokyo Forex market info from BOJ (Reporting by Stanley White; editing by Richard Pullin, Himani Sarkar and Kim Coghill)

FOREX-Euro under pressure on lockdown fears ahead of Macron address

28 Oct 2020

* Graphic: World FX rates in 2020 https://tmsnrt.rs/2RBWI5E * Report of new lockdowns in France hurts euro * Investors grow nervous before U.S. elections * Aussie in focus amid expectations for monetary easing By Stanley White TOKYO, Oct 28 The euro fell against the dollar on Wednesday following a media report that France's government was leaning toward reinstating a national lockdown to curb a resurgence in coronavirus cases. The dollar, however, gave up early gains against other major currencies as sentiment turned bearish due to uncertainty about the outcome of the U.S. presidential election next week. The spike in infections "is certainly a concern for France and southern Europe, so the euro's upside is heavy", said Junichi Ishikawa, senior foreign exchange strategist at IG Securities in Tokyo. He added that he does not expect the dollar to gain much against other currencies, "because people have been overly complacent about how markets will react after the U.S. election". The euro fell 0.14% to $1.1780 in Asia on Wednesday, down for a third consecutive session. Sterling held steady at $1.3035, supported by hopes for a last-minute trade deal between Britain and the European Union. The dollar was little changed at 104.46 yen after a 0.4% decline on Tuesday brought it close to a one-month low. Traders are bracing for more volatility in currency markets as the virus spreads in Europe, Britain, and the United States, fanning concerns that economic growth will weaken once again. French President Emmanuel Macron will give a televised address on Wednesday evening. His office has not said what the speech is about, but local media has reported that the government is exploring imposing a lockdown from midnight on Thursday. FOCUS ON U.S. ELECTIONS Traders, however, say the bigger focus is on the United States, which is also struggling to contain the coronavirus as people vote early before elections on Nov. 3. Domestic polls show Democrat rival Joe Biden has a lead over Republican incumbent President Donald Trump, but some investors are sceptical because the polls did not predict Trump's victory four years ago. Legal battles between Republicans and Democrats over how to count votes have raised the risk that the outcome of the election will be disputed, which is a negative factor for the dollar, some analysts say. Sentiment for the greenback has also weakened after Trump conceded that an additional round of U.S. fiscal stimulus is unlikely before the election. The onshore yuan fell to 6.7140 against the dollar, extending a pullback from a 27-month high hit last week as the People's Bank of China takes steps to curb the currency's appreciation. The Australian dollar trimmed losses after data showed consumer prices in the third quarter rose 1.6% from the prior quarter, which was slightly more than the median estimate. The Reserve Bank of Australia is widely expected to lower interest rates and expand its government debt purchases at its next meeting on Nov. 3. ======================================================== Currency bid prices at 11:03AM (0203 GMT) Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Euro/Dollar $1.1777 $1.1796 -0.14% +5.07% +1.1799 +1.1770 Dollar/Yen 104.4150 104.4350 +0.00% -3.85% +104.5500 +104.4300 Euro/Yen 122.96 123.14 -0.15% +0.83% +123.1800 +122.9600 Dollar/Swiss 0.9092 0.9088 +0.04% -6.05% +0.9099 +0.9088 Sterling/Dollar 1.3034 1.3047 -0.09% -1.72% +1.3042 +1.3020 Dollar/Canadian 1.3188 1.3187 +0.02% +1.53% +1.3199 +1.3185 Aussie/Dollar 0.7132 0.7129 +0.06% +1.66% +0.7136 +0.7113 NZ 0.6702 0.6708 -0.07% -0.39% +0.6708 +0.6693 Dollar/Dollar All spots Tokyo spots Europe spots Volatilities Tokyo Forex market info from BOJ (Reporting by Stanley White; editing by Richard Pullin and Himani Sarkar)

FOREX-Euro edges lower on report of coronavirus lockdown for France

28 Oct 2020

* Graphic: World FX rates in 2020 https://tmsnrt.rs/2RBWI5E * Report of new lockdowns in France hurts euro * Investors grow nervous before U.S. elections * Aussie in focus amid expectations for monetary easing By Stanley White TOKYO, Oct 28 The euro fell against the dollar on Wednesday after a media report that France's government is leaning toward reinstating a national lockdown to curb a resurgence in coronavirus infections. The dollar strengthened slightly against other major currencies, but sentiment for the greenback is turning bearish due to uncertainty about the outcome of the U.S. presidential election next week. Traders are bracing for more volatile trade in currency markets because the coronavirus is spreading rapidly again in Europe, Britain, and the United States, which threatens economic growth. Concern about the U.S. elections is another major risk that will keep currencies on edge. "The coronavirus spike is certainly a concern for France and southern Europe, so the euro's upside is heavy," said Junichi Ishikawa, senior foreign exchange strategist at IG Securities in Tokyo. "I don't expect the dollar to gain much against elsewhere, because people have been overly complacent about how markets will react after the U.S. election." The euro fell 0.15% to $1.1780 in Asia on Wednesday, down for a third consecutive trading session. Sterling fell 0.11% to $1.3030 but is likely to be supported by hopes for a last-minute trade deal between Britain and the European Union. The dollar steadied at 104.50 yen after a 0.4% decline on Tuesday that brought it close to a one-month low. French President Emmanuel Macron will give a televised address on Wednesday evening. His office did not say what the speech is about, but French media reported on Tuesday that the government is exploring bringing in a national lockdown from midnight on Thursday. A second wave of coronavirus infections in many countries ahead of winter in the northern hemisphere has fanned concerns that economic growth will weaken once again. Traders say the bigger focus is on the United States, which is also struggling to contain the coronavirus as people vote early before elections on Nov. 3. Domestic polls show Democrat rival Joe Biden has a lead over Republican incumbent President Donald Trump, but some investors are sceptical because the polls did not predict Trump's election four years ago. Legal battles between Republicans and Democrats over how to count votes have raised the risk that the outcome of the election will be disputed, which is a negative factor for the dollar, some analysts say. Sentiment for the greenback has also weakened after Trump conceded that an additional round of U.S. fiscal stimulus is unlikely before the election. The Australian dollar remained lower after data showed consumer prices in the third quarter rose 1.6% from the previous quarter, which was slightly more than the median estimate. The Reserve Bank of Australia is widely expected to lower interest rates and expand its government debt purchases at its next meeting on Nov. 3. ======================================================== Currency bid prices at 9:15AM (015 GMT) Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Euro/Dollar $1.1774 $1.1796 -0.17% +5.04% +1.1799 +1.1770 Dollar/Yen 104.5250 104.4350 +0.08% -3.78% +104.5500 +104.5000 Euro/Yen 123.07 123.14 -0.06% +0.92% +123.1800 +123.0000 Dollar/Swiss 0.9094 0.9088 +0.06% -6.02% +0.9099 +0.9090 Sterling/Dollar 1.3026 1.3047 -0.19% -1.82% +1.3042 +1.3020 Dollar/Canadian 1.3195 1.3187 +0.08% +1.59% +1.3199 +1.3185 Aussie/Dollar 0.7121 0.7129 -0.12% +1.48% +0.7124 +0.7113 NZ 0.6696 0.6708 -0.16% -0.48% +0.6708 +0.6694 Dollar/Dollar All spots Tokyo spots Europe spots Volatilities Tokyo Forex market info from BOJ (Reporting by Stanley White; editing by Richard Pullin)

Japan stocks end lower as firmer yen, U.S. political uncertainty weigh

22 Oct 2020

TOKYO, Oct 22 Japanese shares ended weaker on Thursday, as a firmer yen threatened earnings of exporters and amid fears that agreement on a key U.S. stimulus bill will not be reached until after the presidential election on Nov. 3.

Japanese shares fall on rising yen, U.S. political uncertainty

22 Oct 2020

TOKYO, Oct 22 Japanese shares fell on Thursday as a rise in the yen threatened earnings of export-focused stocks, while uncertainty ahead of the U.S. presidential election weighed on sentiment.

GLOBAL MARKETS-Asian stocks gain, yuan soars as traders bet on U.S. stimulus, again

21 Oct 2020

TOKYO/NEW YORK, Oct 21 Asian shares and U.S. stock futures rose on Wednesday as renewed hopes for a new round of U.S. stimulus drew money into equities from government debt.

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