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GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Modern Company For Water Proof   1.03        Pioneers Holding   2.84        Ezz Steel   7.86        Egyptian Real Estate Group   6.85        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Egyptian for Tourism Resorts   0.69        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        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        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        Rowad Tourism (Al Rowad)   5.05        El Nasr Transformers (El Maco)   4.78        Egyptian Media Production City   2.31        GB AUTO   27        Egyptian Transport (EGYTRANS)   7.85        Sharkia National Food   3.78        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        Prime Holding   0.91        Al Arafa Investment And Consul   0.17        Alexandria Spinning & Weaving    0.74        Gharbia Islamic Housing Develo   8.41        General Company For Land Recla   16.6        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 - 2017-11-01 06:34:00
Gold edged lower early Wednesday as the dollar firmed with investors awaiting hints on the U.S. Federal Reserve's monetary policy stance following the central bank's two-day meeting. The market is also looking forward to the impending naming of the next Fed chair, the Bank of England policy meeting on Thursday and more data, including U.S. payrolls figures on Friday. Spot gold was down 0.1 percent at $1,269.86 per ounce at 0356 GMT. U.S. gold futures for December delivery were nearly unchanged at $1,270.90. "Gold prices suffered under the weight of the stronger U.S.dollar. Investors' appetites has been relatively weak as the currency has rebounded amid reports that President Donald Trump was close to announcing tax cuts," ANZ said in a note. "However, investors also remain cautious ahead of Trump's announcement of a new chair for the Fed, as well as their monthly interest rate meeting." The Fed is scheduled to release its statement following its meeting on Wednesday at 2 p.m. EDT. "A rate hike in December is largely priced into markets. However, investors are looking for the Fed stance on monetary policy: in particular, the inflation outlook and how the Federal Reserve wishes to respond," said John Sharma, an economist with National Australia Bank. "In other words, whether they are likely to adopt a 'wait and see' mode, or get ahead of the curve. The latter will, of course, be negative for gold." Higher interest rates tend to boost the dollar and push bond yields up, putting pressure on gold prices by increasing the opportunity cost of holding non-yielding bullion. Speculation on the next Fed chair is weighing on gold prices, said Mark To, head of research at Hong Kong's Wing Fung Financial Group. "We are waiting for some big announcements, some important news. Once these announcements are done, volatility may increase," he added. Fed Governor Jerome Powell, seen as more dovish than other contenders for the post, has been favored to be named as the next Fed chair by Trump on Thursday. In the wider markets, the dollar edged higher against a basket of currencies, while Asian shares hit a 10-year high on Wednesday on the back of solid economic growth globally. Among other precious metals, silver gained 0.2 percent to $16.72 an ounce. Platinum was up 0.2 percent at $917.05 an ounce. Palladium, which marked a two-week high at $984.50 an ounce earlier in the day, was up 0.3 percent at $983.35 an ounce. More»
Amwal Al Ghad English - 2017-10-31 06:29:28
Gold prices held steady early on Tuesday as the dollar eased after reports that two former aides of U.S. President Donald Trump were charged by federal authorities probing Russian interference in the 2016 election. Spot gold was little changed at $1,276.32 per ounce at 1254 GMT. The yellow metal has shed about 0.2 percent so far in October, in what could be its second straight monthly decline. U.S. gold futures for December delivery were little changed at $1,277.30. The dollar index against a basket of currencies held on to its losses from the previous session, when it fell about 0.4 percent. Federal investigators charged Trump's former campaign manager, Paul Manafort, and another aide, Rick Gates, with money laundering on Monday. A third former Trump adviser, George Papadopoulos, pleaded guilty in early October to lying to the FBI, it was announced on Monday. Trump is likely to pick Federal Reserve Governor Jerome Powell as the next head of the central bank, a source familiar with the matter said on Monday, prompting investors to push down yields on Treasury notes. Trump is expected to announce his choice on Thursday. U.S. consumer spending recorded its biggest increase in more than eight years in September, likely as households in Texas and Florida replaced flood-damaged motor vehicles, but underlying inflation remained muted. As a self-imposed mid-week deadline for unveiling atax-cut bill loomed, Republicans in the U.S. Congress were still grappling with key provisions and some lobbyists expressed concern that a bill might not be ready as expected on Wednesday.The Bank of Japan is set to keep monetary policy steady and roughly maintain its ambitious price forecasts on Tuesday, pointing to signs of growing strength in the economy that policymakers hope will accelerate inflation towards its elusive two percent target. Asian stocks were mostly sluggish on Tuesday following weakness on Wall Street with MSCI's broadest index of Asia-Pacific shares outside Japan gaining 0.1 percent. Spain's state prosecutor accused sacked Catalan leader Carles Puigdemont on Monday of rebellion and sedition as the former regional president traveled to Belgium with other members of his ousted administration and hired a lawyer there. More»
Amwal Al Ghad English - 2017-10-31 06:24:52
Oil prices were stable early on Tuesday, supported by a tightening market due to ongoing OPEC-led efforts to cut supplies, although the prospect of rising U.S. shale output dragged. Brent crude futures, the international benchmark for oil prices, were at $60.78 per barrel at 0343 GMT. That was 12 cents below their last settlement, but still not far off the highest level since July 2015 reached earlier this week and up some 37 percent since their 2017-lows last June. U.S. West Texas Intermediate (WTI) crude futures were at $54.05 a barrel, 10 cents below their last close. But that was still near their highest level since February and up around 28 percent since 2017-lows marked in June. Despite generally upbeat market sentiment, some analysts were cautious after several days dominated by strong price rises. "U.S. shale output could keep a lid on prices over the medium to long-term,"said Shane Chanel, equities and derivatives adviser at ASR Wealth Advisers. WTI's $6.7 per barrel discount to Brent is a result of rising American crude production, which is up almost 13 percent since mid-2016 to 9.5 million barrels per day (bpd), making U.S. crude exports highly profitable. There are also technical chart indicators that warrant caution, analysts said. "The relative strength indexes (RSI) on both contracts are at overbought levels. These could leave oil vulnerable to short-term corrections lower," said Jeffrey Halley, senior market analyst at future brokerage OANDA. An RSI is a trading momentum indicator in which a value of over 70 points is seen to be overbought. Brent's current RSI is at 70.12 points. The bullish market has been fueled by an effort led by the Organisation of the Petroleum Exporting Countries (OPEC) and Russia to hold back about 1.8 million barrels per day (bpd) in oil production to tighten markets and prop up prices. The pact runs to March 2018, but Saudi Arabia and Russia have voiced support to extend the agreement. OPEC is scheduled to meet officially at its headquarters in Vienna, Austria, on November 30. "The fear of oversupply could easily turn to a fear of undersupply if inventories keep declining like they have been and demand continues to grow," said William O'Loughlin, investment analyst at Rivkin Securities. More»
Amwal Al Ghad English - 2017-10-31 06:18:07
Dollar prices touched a one-week low versus the yen on Tuesday as investors turned cautious following news that investigators probing Russian interference in the U.S. election had charged President Donald Trump's former campaign manager. The yen showed limited reaction after the Bank of Japan kept its monetary policy steady on Tuesday as widely expected, even as it slightly cut its inflation forecast for the current fiscal year. The dollar held steady at 113.17 yen, having slipped to as low as 112.97 yen in early Asian trade, its lowest level since Oct. 20. Federal investigators probing Russian interference in the 2016 U.S. election charged Trump's former campaign manager, Paul Manafort, and another aide, Rick Gates, with money laundering on Monday. Neither Trump nor his campaign was mentioned in the indictment against Manafort and Gates. But the latest developments in the investigation pressured the dollar, said Stephen Innes, head of trading in Asia-Pacific for Oanda in Singapore. "It's weighing on dollar/yen a little bit. I think there's a little bit of uncertainty," Innes said. The dollar also struggled in the wake of reports that Trump was likely to pick Federal Reserve Governor Jerome Powell as the next head of the U.S. central bank. Powell is seen as being more dovish on monetary policy than other contenders for the post, especially compared to Stanford University economist John Taylor, who has been regarded as another top challenger for the position. Against a basket of six major currencies, the dollar was steady at 94.583, down from a three-month high of 95.150 scaled on Friday. The euro eased 0.1 percent to $1.1635, but held above a three-month low of $1.1574 touched on Friday. Elsewhere, the Australian dollar was weighed down after China's official factory PMI showed growth in its manufacturing sector cooled more than expected in October. The Aussie, which is sensitive to Chinese economic data due to Australia's strong trade ties with the Asian giant, was down 0.1 percent on the day at $0.7677. Beijing's crackdown on winter air pollution could curb imports of resources from Australia such as iron ore and coking coal. More»
Amwal Al Ghad English - 2017-10-30 07:06:03
Gold inched lower on Monday as investors remained cautious ahead of policy meetings of three major central banks and the naming of the next U.S. Federal Reserve chair. The market is awaiting cues from the meetings of the Federal Open Market Committee (FOMC) and central banks of England and Japan. U.S President Donald Trump is also expected to announce the next head of the Federal Reserve, amid speculations that governor Jerome Powell could be the favored candidate. Spot gold dipped 0.1 percent, to $1,271.50 per ounce at 0408 GMT. U.S. gold futures for December delivery rose 0.1 percent, to $1,272.4. "The week is very data heavy, with many tier 1 central bank decisions, PMI's and other data culminating in Friday's non-farm payrolls," said Jeffrey Halley, a senior market analyst with OANDA. "With a dovish ECB and Bank of Canada followed by impressive U.S. GDP data last week, we would expect the dollar to remain on the front foot and gold to struggle," he added. Higher interest rates tend to boost the dollar and push bond yields up, putting pressure on gold prices by increasing the opportunity cost of holding non-yielding bullion. "The developed economies are hinting at a more hawkish stance. For the rest of this week,market watchers will watch out for the rhetoric given by the FOMC, Bank of England and the Bank of Japan," OCBC analyst Barnabas Gan said. Meanwhile, Trump is leaning towards nominating Federal Reserve Governor Jerome Powell, from a short list of five candidates, to be the next head of the U.S. central bank, two sources familiar with the matter said on Friday. "Powell is said to be the front-runner right now and is being viewed by the markets as coming from the dovish/(Janet) Yellen camp, so certainly his appointment could cool the rate and dollar rally heading into November," INTL FCStone analyst Edward Meir said in a note. The dollar index softened against a basket of currencies, while Asian shares climbed, with MSCI's broadest index of Asia-Pacific shares outside Japan gaining 0.5 percent. Spot gold may bounce moderately to a resistance at $1,278 per ounce before falling again, according to Reuters technical analyst Wang Tao. Among other precious metals, silver slipped 0.2 percent to $16.78 an ounce. Platinum was nearly unchanged at $914.10 an ounce, while palladium rose 0.4 percent to $969.20 an ounce. More»
Amwal Al Ghad English - 2017-10-30 07:01:06
Oil prices were firm on Monday, with Brent crude opening above $60 per barrel on expectations an OPEC-led production cut due to expire next March would be extended. Brent crude oil futures, the international benchmark for oil prices, were at $60.63 per barrel at 0018 GMT, up 19 cents or 0.3 percent from their last settlement. That's close to their highest level since July 2015 and up more than 36 percent since their 2017 lows last June. U.S. West Texas Intermediate (WTI) crude futures were up by 16 cents, or 0.3 percent, at $54.06 a barrel. "With strong compliance to OPEC's production curbs already supporting prices, comments from the Saudi Arabian Crown Prince that suggested the production cut agreement should be extended added to gains," ANZ bank said on Monday. The Organization of the Petroleum Exporting Countries (OPEC) plus Russia and nine other producers have agreed to hold back about 1.8 million barrels per day (bpd) to get rid of a supply glut. The pact runs to March 2018, but Saudi Arabia and Russia, who are leading the effort, have both voiced their support to extend the agreement. OPEC is scheduled to meet officially at its headquarters in Vienna, Austria, on November 30. The confident sentiment is visible in the way financial traders havepositioned themselves. Hedge funds and other money managers raised their bullish wagers on U.S. crude futures and options in the week to October 24, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. The speculator group raised its combined futures and options position in New York and London by 15,041 contracts to 280,634 during the period. More»
Amwal Al Ghad English - 2017-10-30 06:54:00
Dollar prices edged away from last week's three-month highs on Monday, while the euro nursed losses after the European Central Bank and unrest in Spain's Catalonia led it to post its worst week this year. The dollar index, which tracks the greenback against a basket of six major rivals, dipped 0.2 percent to 94.775 but remained not far from Friday's three-month high of 95.150. The euro inched 0.1 percent higher to $1.1614, after plumbing a three-month low of $1.1574 on Friday, and losing 1.6 percent for the week, its worst performance in 11 months. On Saturday, sacked Catalonian president Carles Puigdemont called for peaceful "democratic opposition" to the central government's takeover of the region following its unilateral declaration of independence from Spain. On Thursday, the ECB said it will extend its bond purchases into September 2018 while reducing its monthly purchases by half to 30 billion euros starting in January. The move led investors to bet that the central bank would not begin hiking rates until 2019. More»
Amwal Al Ghad English - 2017-10-28 11:25:30
Brent crude oil on Friday jumped higher to trade above $60 a barrel for the first time in more than two years. The international benchmark for oil prices was trading up $1.05, or 1.8 percent, at $60.35 a barrel at 11:17 a.m. ET (1517 GMT). It was near the highest level since July 2015, bolstered by comments about cutting production from the influential crown prince of Saudi Arabia. U.S. West Texas Intermediate crude rose $1.17, or 2.2 percent, to $53.81 a barrel on Friday, approaching a nearly eight-month high. Analysts say WTI cracked through technical resistance levels around $53 a barrel, helping it to break out higher. Resistance for Brent crude stood between $58.50 and $59 a barrel, Tom Kloza, global head of energy analysis at Oil Price Information Service, told CNBC earlier this week. Oil prices have gotten a boost this month from geopolitical tension and expectations that OPEC and other oil exporters will extend a deal to limit their oil output. Saudi Crown Prince Mohammad bin Salman told Reuters he supports extending the agreement, which aims to keep about 1.8 million barrels off the market between January of this year and March 2018. Crude oil supplies from northern Iraq have fallen after the central government took control of oil fields in disputed territories from Kurdish forces. Meanwhile, President Donald Trump's threats to scrap a historic deal that lifted sanctions on Iran's energy sector has raised concerns about that country's oil exports. More»
Amwal Al Ghad English - 2017-10-28 07:28:39
Gold edged higher on Friday, reversing earlier losses after the Catalonian parliament's independence declaration from Spain led investors to seek safety from political upheaval. Catalonia's declaration was in defiance of the Madrid government, which was preparing to impose direct rule over the region. "Catalonia is a small microcosm of the total European situation. But what it represents is the idea of an unstable European Union," said Dan Huffey, senior market strategist at RJO Futures in Chicago. "(These are) all reasons why we would look for a safe haven like gold to rally," he added. Bullion is often used as a safe haven in times of geopolitical and economic uncertainty, while riskier assets such as equities are generally sold off. Spot gold was up 0.41 percent at $1,271.95 an ounce by 3:53 p.m. EDT, heading for its second consecutive weekly decline. Gold had earlier dropped to a three-week low of $1,263.35. U.S. gold futures for December delivery settled up $2.20, or 0.2 percent, at $1,271.80 per ounce. "Gold went up on the back of the Catalonia independence, but I still think it's not going to last long because the dollar is still trading at high levels," said analyst Fawad Razaqzada. The dollar index came off its session high on a Bloomberg report of U.S. President Donald Trump eyeing Federal Reserve Governor Jerome Powell as his pick to head the U.S. central bank. Yet, the greenback was still trading near a three-month high, limiting gold's gains as it makes dollar-priced commodities costlier for non-U.S. investors. According to a Politico report, Trump's search for the next Fed chair has come down to Fed Governor Jerome Powell and Stanford University economist John Taylor. "The market is not pricing in more aggressive rate hike from the Fed even given a potential change in leadership next year. We are likely to see the same rate hike path," ETF Securities commodity strategist Martin Arnold said. Elsewhere, the U.S. House of Representatives helped pave the way on Thursday for deep tax cuts sought by Trump and Republican leaders, underpinning the greenback. Holdings of the world's largest gold-backed exchange-traded fund, New York-listed SPDR Gold Shares, fell by 1.2 tonnes on Thursday, data from the fund showed, its first outflow in more than two weeks. Silver rose 0.51 percent at $16.83 per ounce, platinum dipped 0.24 percent at $915.20 an ounce, while palladium slipped 0.13 percent at $970.00 an ounce. All three metals were on track for weekly declines. More»
Amwal Al Ghad English - 2017-10-28 07:19:26
Oil prices surged higher on Friday on support among the world's top producers for extending a deal to cut output. Brent crude rose as high as $60.53, its highest level since July 3, 2015. It was up $1.02, or 1.7 percent, at $60.32 by 2:23 p.m. ET (1823 GMT). U.S. light crude oil ended Friday's session up $1.26, or 2.4 percent, at $53.90, closing at an 8-month high going back to February 28. Ahead of OPEC's next policy meeting, Saudi Arabia and Russia declared their support for extending a global deal to cut oil supplies for another nine months, OPEC's secretary general told Reuters on Friday. The pact runs to March 2018. Saudi Arabia's Crown Prince Mohammad bin Salman told Reuters on Thursday the kingdom would support extending the output cut in a bid to stabilise oil demand and supply. Oil prices have been hovering near their highest levels for this year amid recent signs of a tightening market, talk of an extension of production cuts and tensions in Iraq. Friday's announcement of a ceasefire between Iraqi forces and the Peshmerga from the country's autonomous northern Kurdish region eased some concerns. "I think the combination of short covering and Chevron and Exxon both missing their production guidance for the third quarter has resulted in the market strength today," said Scott Shelton, energy futures broker with ICAP in Durham, North Carolina. The Organization of the Petroleum Exporting Countries and some non-OPEC producers including Russia have pledged to reduce production by around 1.8 million barrels per day (bpd) until the end of March 2018 to drain a global supply glut. "If OPEC and their non-OPEC partners can agree to extend their production curtailments through 2018, then we estimate the oil market will remain in modest under-supply until 2019," U.S. Investment bank Jefferies said. OPEC is expected to discuss extending that agreement at a meeting in Vienna on Nov. 30. Rising U.S. crude production remains an issue for OPEC as it strives to clear a global overhang. U.S. crude production rose by 1.1 million bpd to 9.5 million bpd in the week ended Oct. 20, according to U.S. Energy Information Administration data. On Friday, Baker Hughes reported its weekly count of oil rigs operating in U.S. oilfields ticked up by 1 rig to a total of 737. TransCanada Corp said in a filing on Thursday that it is seeking to raise the temporary discounted spot rate for light crude on its 700,000 barrel-per-day Marketlink pipeline. The news sent U.S. crude benchmark's discount to global marker Brent to the widest in a month. "What is interesting is that the pop in WTI futures moved above the Sept. 28 high," said David Thompson, executive vice president at Powerhouse, an energy-specialized commodities broker in Washington, D.C. "So even though the dollar is giving back some of its move, crude may now be trading off of a new driver, the technical breakthrough to a new high." The dollar trimmed its earlier gains on Friday versus a basket of currencies following a Bloomberg report that U.S. President Donald Trump is said to be leaning toward Federal Reserve Governor Jerome Powell as his pick to head the U.S. central bank. A weaker dollar makes greenback-denominated commodities including oil cheaper for holders of other currencies. More»