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GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Ezz Steel   7.86        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Egyptian Iron & Steel   6.87        Naeem Holding   0.19        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Egyptian for Tourism Resorts   0.69        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Heliopolis Housing   21.65        Raya Holding For Technology An   4.57        United Housing & Development   8.93        International Agricultural Pro   2.1        Gulf Canadian Real Estate Inve   18.08        Alexandria Pharmaceuticals   45.71        Arab Cotton Ginning   2.46        Egyptian Chemical Industries (   7.26        National Real Estate Bank for    11.84        Six of October Development & I   15.03        National Development Bank   6.72        Oriental Weavers   20.66        Arab Gathering Investment   16.29        Egyptians Abroad for Investmen   2.75        Palm Hills Development Company   1.61        Credit Agricole Egypt   9.04        Remco for Touristic Villages C   2.13        Commercial International Bank    29.87        El Ezz Porcelain (Gemma)   1.9        Egyptian Starch & Glucose   5.4        Arab Real Estate Investment (A   0.41        South Valley Cement   3.12        Citadel Capital - Common Share   2.5        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        El Nasr Transformers (El Maco)   4.78        Egyptian Media Production City   2.31        GB AUTO   27        Sharkia National Food   3.78        Egyptian Transport (EGYTRANS)   7.85        El Kahera Housing   4.97        El Shams Housing & Urbanizatio   2.45        Egyptian Kuwaiti Holding   0.7        ARAB POLVARA SPINNING & WEAVIN   2.11        Cairo Poultry   8.32        Egyptian Financial & Industria   8        T M G Holding   4.03        Asek Company for Mining - Asco   10.66        Misr Hotels   27        Egyptian Electrical Cables   0.56        Medinet Nasr Housing   22.51        Mena Touristic & Real Estate I   1.21        ELSWEDY CABLES   18        Al Arafa Investment And Consul   0.17        Prime Holding   0.91        Alexandria Spinning & Weaving    0.74        General Company For Land Recla   16.6        Gharbia Islamic Housing Develo   8.41        Alexandria Cement   8.9        Arab Valves Company   0.94        Sidi Kerir Petrochemicals   12.4        TransOceans Tours   0.09        Egyptian for Developing Buildi   6.43        Egyptian Gulf Bank   1.24        Kafr El Zayat Pesticides   18.19        Faisal Islamic Bank of Egypt -   35.1        National company for maize pro   11.86        Delta Construction & Rebuildin   4.03        Zahraa Maadi Investment & Deve   48.25        Samad Misr -EGYFERT   3.52        Egypt for Poultry   1.41        Cairo Development and Investme   11.7        Cairo Pharmaceuticals   20.1        Maridive & oil services   0.9        Suez Canal Bank   3.75        Nile Pharmaceuticals   15.81        The Arab Dairy Products Co. AR   73.85        National Housing for Professio   14.39        El Ahli Investment and Develop   4.87        Egyptian Saudi Finance Bank   10.79        Ismailia National Food Industr   5.16        National Societe Generale Bank   25.52        Acrow Misr   19.16        Alexandria Mineral Oils Compan   63.63        Paper Middle East (Simo)   5.59        Egypt Aluminum   12.31        Giza General Contracting   13.12        Middle Egypt Flour Mills   5.82        Extracted Oils   0.6        Assiut Islamic Trading   4.56        Engineering Industries (ICON)   3.95        North Cairo Mills   15.3        Arab Pharmaceuticals   11.88        Grand Capital   5.38        El Ahram Co. For Printing And    10.68        Minapharm Pharmaceuticals   25.49        El Arabia Engineering Industri   13.52        El Nasr For Manufacturing Agri   9.71        Naeem portfolio and fund Manag   1.7        Faisal Islamic Bank of Egypt -   6.76        Natural Gas & Mining Project (   68.26        Housing & Development Bank   13.95        East Delta Flour Mills   31.5        Orascom Development Holding (A   3.22        Memphis Pharmaceuticals   11.12        Abou Kir Fertilizers   134.23        Delta Insurance   5        Cairo Investment & Real Estate   12.18        Cairo Oils & Soap   12.98        Egyptian Arabian (cmar) Securi   0.36        Egyptian Real Estate Group Bea   15.56        Alexandria Containers and good   85.51        Upper Egypt Flour Mills   45.78        Development & Engineering Cons   9.94        Sinai Cement   15.18        Medical Union Pharmaceuticals   28.01        Torah Cement   24.2        Alexandria New Medical Center   46.55        Export Development Bank of Egy   5.04        Egyptian Company for Mobile Se   92.02        Middle & West Delta Flour Mill   32.7        El Kahera El Watania Investmen   4.18        Mansourah Poultry   12.41        Delta Sugar   11.04        Misr Beni Suef Cement   41.21        Egyptian Satellites (NileSat)   6.14        Cairo Educational Services   17.75        Lecico Egypt   7.55        Sharm Dreams Co. for Tourism I   5.3        General Silos & Storage   10.77        Al Moasher for Programming and   0.66        UTOPIA   5.28        Arab Ceramics (Aracemco)   25.4        Barbary Investment Group ( BIG   0.98        


The Watch - forex news

Amwal Al Ghad English - 2018-04-03 06:27:23
The yen held firm on Tuesday as escalating U.S.-China trade tensions stirred up fears over the outlook for global growth, sapping investors' risk appetite. The dollar was little changed at 105.96 yen, struggling to gain traction after having fallen for three straight trading days, and trading below a two-week high around 107.00 yen set on March 28. The yen had risen on Monday as U.S. equities tumbled, with the S&P 500 sliding 2.2 percent as investors fled technology shares amid resurgent worries over a trade war. The sell-off in U.S. equities came after China imposed extra tariffs on U.S. products, escalating a dispute between the world's two biggest economic powers. "It's going to be choppy, but...given how fragile equity markets look right now, I think the clear trade is dollar/yen lower," said Stephen Innes, head of trading in Asia-Pacific for Oanda in Singapore. Investors' risk appetite is unlikely to recover quickly unless there is some easing in the U.S.-China trade tensions, he added. "I don't think people will be looking to put risk on too quickly untilsomething positive develops on the trade front," Innes said. The Japanese yen, typically viewed as a safe-haven currency, tends to benefit at the dollar's expense during times of international political and financial turbulence. The yen had risen in March as worries over the risk of a global trade war roiled financial markets. That had sent the dollar down to a 16-month low of 104.56 yen on March 26. Some market participants said the dollar could find support against the yen for now, especially if Japanese importers and institutional investors opt to buy the dollar on dips. The trade dispute between China and the United States is seen likely to be a market focus in the near term. The Trump administration is expected sometime this week to publish a list of Chinese goods that could be subjected to new U.S. tariffs. China's ambassador to the United States said Beijing will take counter-measures of the "same proportion" and scale if Washington imposes more tariffs on Chinese goods from a trade probe, state television reported on Tuesday. Investors are also focused on U.S. data this week, led by the non-farm payrolls report for March due on Friday. The reports are expected to determine the path for future Federal Reserve interest rate increases. While the U.S. economy has shown some strength and allowed the Fed to raise rates, the recent slide in equities markets in the wake of trade woes was seen potentially affecting central bank policy. "If the decline by the S&P 500 doesn't stop and develops into an outright downtrend, it could affect the pace of the Fed's bid to normalize monetary policy," said Makoto Noji, senior strategist at SMBC Nikko Securities in Tokyo. The euro inched up 0.05 percent to $1.2309. Elsewhere, the Australian dollar was up 0.35 percent at $0.7688, clinging above a three-month low of $0.7643 set last week. The Aussie's reaction to the Reserve Bank of Australia keeping its cash rate at a record low 1.5 percent on Tuesday was limited, as the decision was widely expected. More»
Amwal Al Ghad English - 2018-04-02 06:53:50
Oil prices rose on Monday, lifted by a drop in U.S. drilling activity as well as by expectations that the United States could re-introduce sanctions against Iran. U.S. WTI crude futures were at $65.18 a barrel at 0025 GMT, up 24 cents, or 0.4 percent, from their previous settlement. Brent crude futures were fetching $69.67 per barrel, up 33 cents, or 0.5 percent. Stephen Innes, head of trading for Asia/Pacific at futures brokerage OANDA in Singapore, said oil markets remained nervous about "whether or not the U.S. administration will scrap or maintain the fragile nuclear deal with Iran." Innes said prices were also supported by a weekly report that there was a drop in activity of drilling for new oil production in the United States. U.S. drillers cut seven oil rigs in the week to March 29, bringing the total count down to 797, General Electric's Baker Hughes energy services firm said in its closely followed report last Thursday. It was the first time in three weeks that the rig-count fell. Baker Hughes published its North American rig count report on Thursday, one day earlier than usual, due to the Good Friday holiday on March 30. Oil prices have generally been supported by supply restraint led by the Organization of the Petroleum Exporting Countries (OPEC) and Russia, which started in 2017 in order to rein in oversupply and prop up prices. Liquidity on Monday will be low as many countries, especially in Europe, will still be on Easter holiday. More»
Amwal Al Ghad English - 2018-04-02 06:37:17
The dollar prices held steady against the yen on Monday, taking a breather after last week's rally and as it treads cautiously amid lingering concerns over a U.S.-China trade spat. The dollar last traded at 106.32 yen, after having risen more than 1.5 percent last week for its biggest weekly gain since September 2017. The U.S. currency had risen against the yen last week, helped by signs China and the United States were working behind the scenes to avoid a full-blown trade war, and hopes for a diplomatic breakthrough over North Korea's nuclear program. The resulting uptick in risk appetite weighed on the safe-haven yen, a currency that tends to rise during times of market turmoil and vice versa. Given the simmering U.S.-China trade tensions, however, some analysts say the dollar's gains against the yen may be limited in the near term. China has slapped extra tariffs of up to 25 percent on 128 U.S. products including frozen pork, as well as on wine and certain fruits and nuts, in response to U.S. duties on imports of aluminium and steel, China's finance ministry said. The tariffs, to take effect on Monday, match a list of potential tariffs on up to $3 billion in U.S. goods published by China on March 23. Markets haven't shown much reaction to China's announcement so far, partly because Beijing had already warned of such measures, said Satoshi Okagawa, senior global markets analyst for Sumitomo Mitsui Banking Corporation in Singapore. "However, if Chinese equities were to fall on this factor, we could see a general risk-off move," Okagawa said, adding that the performance of stock markets would be key. Asian equities showed resilience on Monday, starting the new quarter with mild gains after a strong performance by global equities last week. Analysts say another focus is the potential for foreign investment by Japanese institutional investors at the start of Japan's new financial year. Sumitomo Mitsui Banking Corporation's Okagawa said Japanese investors will probably increase their allocation to overseas assets, at least to some extent, which will support the dollar. "Still, it's probably going too far to say that the dollar will head up towards 110 yen in April because of such fresh buying," Okagawa added. Against a basket of six major peers, the dollar last stood at 89.971, having backed off from a one-week high of 90.178 set last Thursday. The euro held steady at $1.2321. Although expectations of an exit from the ECB's stimulus had boosted the euro since last year, the common currency has been in a holding pattern since hitting a three-year high of $1.2556 on Feb. 16, with its March 1 low of $1.21545 seen as an immediate support level. Elsewhere, some emerging Asian currencies edged higher, with the Malaysian ringgit <MYR=> rising to as high as 3.8550 per U.S. dollar, reaching its firmest since April 2016. Recent declines in U.S. long-term bond yields seem to be providing support to emerging Asian currencies, even though there are lingering risks such as those related to U.S. trade issues, said Teppei Ino, an analyst for MUFG Bank in Singapore. "Asian currencies are unlikely to see a slump unless there is a full-blown, one-way move toward risk aversion," Ino said. The U.S. 10-year Treasury yield last stood at 2.764 percent, after having set a seven-week low of 2.739 percent on Thursday. More»
Amwal Al Ghad English - 2018-03-29 06:42:56
Gold prices inched up on Thursday on buying after the bullion hit a one-week low and posted its biggest one-day percentage fall in nearly 9 months in the previous session. Spot gold was up 0.2 percent at $1,327.72 per ounce at 0419 GMT, after hitting a one-week low of $1,323.20 in the previous session. Prices dropped 1.5 percent on Wednesday to mark their biggest one-day percentage decline since July 3, 2017. U.S. gold futures for April delivery climbed 0.2 percent to $1,326.80 per ounce. "Gold is still being seen as a safe-haven asset at the moment and we are seeing good physical buying, so that is supporting gold," said Brian Lan, managing director at dealer GoldSilver Central in Singapore. Concerns about the global trade war have eased "but it doesn't mean it is over," Lan added. U.S. President Donald Trump's tariffs on Chinese goods may not be imposed until early June, administration officials said on Wednesday, with public consultations and potential tariff revisions buying time for negotiations to forestall them. However, gains in the yellow metal were curbed as the U.S dollar held firm, having made its biggest daily gain in more than a half year, bolstered in part by hopes of detente in East Asia. North Korea's leader Kim Jong Un pledged his commitment to denuclearization and meet U.S. officials, China said on Wednesday after his meeting with President Xi Jinping, who promised China would uphold friendship with its isolated neighbor. In other precious metals, spot silver gained 0.4 percent to $16.32 per ounce. Platinum rose 0.7 percent to $938 per ounce, after hitting a near three-month low of $929.50 per ounce in the previous session. Palladium climbed for the first time in six sessions,up 0.4 percent to $969.40 an ounce. Prices dropped to a near three-week low of $961.65 on Wednesday. More»
Amwal Al Ghad English - 2018-03-29 06:31:01
The dollar prices eased against the yen on Thursday, losing some momentum after hopes of detente in East Asia provided the spark for its largest daily gain in six months the previous session. The dollar fell 0.3 percent to 106.52 yen, giving back some gains after having surged 1.43 percent on Wednesday, its biggest rise since September 11 of last year. China said on Wednesday North Korea's leader Kim Jong Un pledged his commitment to denuclearization while U.S. President Donald Trump tweeted that Kim looked forward to meeting with him. Japan's Asahi newspaper reported on Thursday that Tokyo has sounded out the North Korean government about a bilateral summit, just days after Kim met Chinese President Xi Jinping. All of this has prompted some speculation among traders that a diplomatic breakthrough over North Korea's nuclear program might be closer at hand than at anytime before, even though the hurdles to a solution remain stiff. Because of Japan's status as a net creditor nation, the yen tends to be bought on rising geopolitical tensions and vice versa. More»
Amwal Al Ghad English - 2018-03-28 06:33:49
Gold was little changed on Wednesday after falling in the previous session as concerns about a potential trade war between the United States and China eased which supported the dollar and reduced the incentive to hold bullion as a safe-haven asset. Spot gold was down 0.1 percent at $1,343.98 per ounce at 0419 GMT. Prices dropped 0.7 percent on Tuesday, its biggest percentage loss since March 15, after rising during the previous two sessions. U.S. gold futures for April delivery rose 0.1 percent to $1,343.40 per ounce. "The gold price is mainly driven by the U.S. dollar," said Ji Ming, chief analyst, Shandong Gold Group. "The risk of trade war is shrinking, which is good for the U.S. dollar, so maybe by end of this week the U.S. dollar will not be that weak." The dollar index, which measures the greenback against six other major currencies, was down 0.1 percent at 89.267 after gaining 0.3 percent on Tuesday, the most since March 20. The dollar recovered from the five-week low as concerns of a global trade war were eased by optimistic news that the U.S. and China were set to begin trade negotiations, after earlier exchanging threats. Gold, which is sought as a store of value in times of political and financial uncertainty, becomes less expensive when the greenback weakens. Holdings of the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.14 percent to 846.12 tonnes on Tuesday from 847.30 tonnes on Monday. In other precious metals, spot silver was up 0.2 percent at $16.51 per ounce after hitting a three-week high of $16.80 in the previous session. Platinum was up 0.1 percent at $943.50 per ounce, having fallen to lowest since early January in the previous session. Palladium was down 0.1 percent at $971.43 an ounce. More»
Amwal Al Ghad English - 2018-03-28 06:31:16
Oil prices fell on Wednesday, with Brent falling back below $70 per barrel and U.S. West Texas Intermediate crudes dipping below $65, pulled down by a report of increasing U.S. crude inventories that surprised many traders. U.S. WTI crude futures were at $64.86 a barrel by 0201 GMT, down 39 cents, or 0.6 percent, from their previous settlement. Brent crude futures were at $69.75 per barrel, down 36 cents, or 0.5 percent. Traders said the dips came after the American Petroleum Institute (API) late on Tuesday reported a surprise 5.3 million barrels rise in crude sticks in the week to March 23, to 430.6 million barrels. Official U.S. inventory data will be published by the Energy Information Administration (EIA) late on Wednesday. "We'll see how the inventory data looks and whether these recent highs can be challenged again. For the moment it is looking like both WTI and Brent are stalling," said Greg McKenna, chief market strategist at futures brokerage AxiTrader. Wednesday's price falls came despite top exporter Saudi Arabia saying it was working with top producer Russia on a historic long-term pact that could extend controls over world crude supplies by major exporters for many years. Saudi Crown Prince Mohammed bin Salman told Reuters that Riyadh and Moscow were considering greatly extending a short-term alliance on oil curbs that began in January 2017 after a crash in crude prices. "We are working to shift from a year-to-year agreement to a 10 to 20 year agreement," the crown prince told Reuters in an interview in New York late on Monday. AxiTrader's McKenna said such an agreement between Russia and Saudi Arabia "effectively means an expansion" of the Organization of the Petroleum Exporting Countries (OPEC), of which Saudi Arabia is the de-facto leader but in which Russia is not a member. In Asia, Shanghai crude oil futures saw their third day of trading continuing with high volume but also volatility. Spot Shanghai crude futures were down by 4.4 percent on Wednesday,to 407.5 yuan ($64.93)per barrel by 0201 GMT. In dollar-terms, that puts Chinese crude prices significantly below Brent and only slightly above U.S. WTI. McKenna said he hoped Shanghai crude "gets a lot of traction and we end up with three established global benchmarks", but he cautioned that "the first couple of days have been volatile." More»
Amwal Al Ghad English - 2018-03-28 06:27:22
The dollar stalled on Wednesday as global trade tensions remained elevated, with U.S. President Donald Trump discussing joining forces with Germany to counter China's economic practices. The dollar index, which measures the greenback versus a group of six major currencies, dipped 0.1 percent to 89.291. It had gained about 0.34 percent overnight, pulling away from a five-week low of 88.942. The dollar recovered slightly on hopes that negotiations between the United States and China would produce a compromise and avoid a full-blown trade war. But the White House said that Trump had discussed trade practices with China in calls on Tuesday with French President Emmanuel Macron and German Chancellor Angela Merkel, which could lead to an escalation of trade tensions. The U.S. currency was 0.2 percent higher at 105.530 yen. It had been pushed down from a high near 106.000 overnight after a slide in U.S. stocks and Treasury yields, but as fears of a global trade war faded it rebounded from the 16-month low of 104.560 yen set on Monday. "The dollar lost some traction as equity markets sank following the latest media report on U.S. trade policy," said Masafumi Yamamoto, chief forex strategist at Mizuho Securities in Tokyo. He was referring to a Bloomberg report stating that the Trump administration was considering using a law reserved for national emergencies in a crackdown on some Chinese investments. "The threat of all-out risk avoidance caused by trade concerns has eased, but some 'risk off' moves are likely to keep impacting currencies as long as uncertainties remain," Yamamoto said. The euro was 0.15 percent higher at $1.2419 after losing 0.3 percent overnight on soft euro zone economic data and dovish-sounding comments from Erkki Liikanen, a member of European Central Bank's Governing Council. "There is always the risk of the U.S. GDP figures due today being much weaker than expected, but major dollar-selling developments seem to have run their course for the time being," said Masashi Murata, senior currency strategist at Brown Brothers Harriman in Tokyo. U.S. data due later in the day include the final estimate of fourth quarter gross domestic product and pending home sales. The pound gained 0.25 percent to $1.4190 after falling 0.5 percent on Tuesday. The Australian dollar rose 0.3 percent to $0.7698 after dropping more than 0.9 percent on Tuesday. South Africa's rand dipped 0.25 percent to 11.65 per dollar with the South Africa Reserve Bank expected to loosen monetary policy later on Wednesday. The central bank is seen cutting its repo rate by 25 basis points to 6.50 percent with domestic inflation flagging on the back of a strong rand, which reached a three-year high against the dollar in February. "The dollar lost some traction as equity markets sank following the latest media report on U.S. trade policy," said Masafumi Yamamoto, chief forex strategist at Mizuho Securities in Tokyo. He was referring to a Bloomberg report stating that the Trump administration was considering using a law reserved for national emergencies in a crackdown on some Chinese investments. "The threat of all-out risk avoidance caused by trade concerns has eased, but some 'risk off' moves are likely to keep impacting currencies as long as uncertainties remain," Yamamoto said. The euro was 0.05 percent higher at $1.2411 after losing 0.3 percent overnight on soft euro zone economic data and dovish-sounding comments from Erkki Liikanen, a member of European Central Bank's Governing Council. The pound gained 0.15 percent to $1.4177 after falling 0.5 percent on Tuesday. More»
Amwal Al Ghad English - 2018-03-27 06:32:32
Oil prices rose on Tuesday, pushed up by concerns that tensions in the Middle East could lead to supply disruptions. Hopes that behind-the-scenes talks between the United States and China will prevent a looming trade war between the world's two biggest economies also supported global markets, including crude oil futures. U.S. West Texas Intermediate (WTI) crude futures were at $65.71 a barrel at 0142 GMT, up 16 cents, or 0.2 percent, from their previous close. Brent crude futures were at $70.25 per barrel, up 13 cents, or 0.2 percent. James Mick, Managing Director and Energy Portfolio Manager with asset management firm Tortoise, said "rising geopolitical tensions" were driving up oil prices. The biggest risk was that the United States could re-introduce sanctions on Iran. "Crude also received support from OPEC members as Saudi Arabia and Russia both reiterated goals to extend the production cut agreement," Mick said. Iraq, the second biggest producer within the Organization of the Petroleum Exporting Countries (OPEC) said on Monday that it also supports the producer cartel's agreement to cut oil output. OPEC, together with a group of non-OPEC producers led by Russia, started withholding production in 2017 in order to prop up prices. The deal to cut is scheduled to last through 2018, and there has been recent support by OPEC's de-facto leader Saudi Arabia to extend the cuts into 2019. However, some traders cautioned that such a moved faced opposition. Stephen Innes, head of trading for Asia/Pacific at futures brokerage OANDA in Singapore said there was "considerable resistance" as current or higher prices opened the possibility that even more U.S. shale producers could come back online. U.S. oil production has already jumped by almost a quarter since mid-2016, to 10.4 million barrels per day (bpd), taking it past top exporter Saudi Arabia and within reach of top producer Russia, which pumps around 11 million bpd. In Asia, Shanghai crude oil futures saw their second day of trading, repeating Monday's high volumes. Over the first 24 hours of its trading, Shanghai's spot crude volumes made up 5 percent of the global market, versus 23 percent for Brent and 72 percent for WTI. Brent volumes are currently low as much of Europe is already on holidays for Easter. Shanghai crude dropped from a Monday close of 429.9 yuan ($68.62) per barrel to 426.2 yuan ($68.03) at 0143 GMT on Tuesday. In dollar-terms, Chinese crude prices are trading between Brent and WTI. More»
Amwal Al Ghad English - 2018-03-27 06:29:14
The safe haven Japanese yen sagged on Tuesday as optimism that the United States and China could begin negotiations on trade helped ease concerns about a trade war, reviving demand for riskier assets. Global markets were shaken last week after U.S. President Donald Trump moved to impose tariffs on Chinese goods and Beijing threatened similar measures, sparking fears of a trade war between the world's two largest economies. But reports of behind-the-scenes talks between the United States and China have eased concerns for now that global trade frictions could escalate out of control, with traders hoping any actual U.S. measures will be much more modest than first announced. Chinese Premier Li Keqiang said on Monday it and the United States should maintain negotiations, reiterating pledges to ease access for American businesses. The receding concerns over U.S.-China trade tensions whetted investor appetite for riskier assets. Wall Street scored its best day in 2-1/2 years and the Dow Jones Industrial Average saw its third-biggest point gain ever on Monday. "There is this sense in the market that the situation might not escalate into a trade war," said Satoshi Okagawa, senior global markets analyst for Sumitomo Mitsui Banking Corporation in Singapore, adding that China's relatively moderate reaction had helped soothe such jitters. The yen, often viewed as a safe haven currency in times of market turbulence and economic uncertainty, partly because of the resilience provided by Japan's current account surplus, retreated due to the revival in investor risk appetite. With the yen on the defensive, the dollar rose 0.2 percent to 105.62 yen. The greenback has bounced back after hitting a 16-month low of 104.56 yen on Monday. More»