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Financial & Business News

  • Business

    EMERGING MARKETS-Mexican peso up on data, Colombia's flat after hold on rates

    * Latam FX index set for worst week in over one month * Colombian central bank holds benchmark rate steady * Brazil's real rises after central bank FX intervention (Updates prices throughout; adds bullets, comments) By Shreyashi Sanyal Oct 30 (Reuters) - Mexico's peso rose on Friday, set to end a tumultuous week on a positive note after data signaled a strong economic rebound, while the Colombian currency traded in a tight range after the country's central bank kept interest rates unchanged. The peso rose 0.7% against the dollar after preliminary data showed Mexico's economy grew 12.0% in the third quarter, making up for much of the contraction in the previous three months at the height of the coronavirus lockdown. U.S. demand helped Mexico rack up large trade surpluses during the past four months, as exports picked up speed.

  • Business

    CANADA FX DEBT-C$ sees biggest weekly drop since April as stocks tumble

    The Canadian dollar was trading nearly unchanged at 1.3320 to the greenback, or 75.08 U.S. cents, having traded in a range of 1.3280 to 1.3348. The sell-off this week for the loonie is part of "a broader move that is linked to the equity pullback," said Simon Côté, managing director, risk management solutions at National Bank Financial, adding that the currency's decline encouraged many corporate clients to step into the market to hedge their U.S. dollar receivables.

  • Cuomo Will Allow Kids in N.Y. Hot Spots to Go Back to School

    Cuomo Will Allow Kids in N.Y. Hot Spots to Go Back to School

    (Bloomberg) -- New York Governor Andrew Cuomo said he has established protocols that would allow students in Covid cluster areas to return to school.Cuomo said he has been working with public and private schools, including yeshivas and Catholic schools, in zones with the highest positive infection rates. They have reached an agreement that will keep the kids safe, the governor said Friday during a call with reporters. All students will be required to test negative before returning to school, Cuomo said. There also will be a required random surveillance, with testing of 25% of the school population every week, according to state officials. The state will provide free rapid-result test kits.Cuomo shut schools and businesses in the areas weeks ago as cases surged. Many of the zones had large Orthodox Jewish communities, and some have sued the government.The state reported 2,255 new cases for Thursday after conducting about 146,000 tests. The positive rate was 2.7% in the clusters, and 1.3% outside the clusters. Statewide, the rate is 1.3%, which is the third-lowest rate in the nation, after Maine and Vermont, according to Cuomo.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.