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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        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Ezz Steel   7.86        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        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        Canal Shipping Agencies   7.39        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        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 - 2018-01-03 06:28:29
Oil prices were stable on Wednesday, not far off mid-2015 highs reached the previous session, as strong demand and ongoing efforts led by OPEC and Russia to curb production tightened the market. U.S. West Texas Intermediate (WTI) crude futures were at $60.40 a barrel at 0141 GMT, up 3 cents from their last close, and not far off the $60.74 June 2015 high reached the previous day. Brent crude futures - the international benchmark for oil prices - were at $66.55 a barrel, down 2 cents but still not far off the $67.29 May 2015 high from the previous day. Despite this, there were indicators that markets had overshot in the last days of 2017 and trading this year, as U.S. production is set to rise further and doubts are emerging about whether demand growth can continue at current levels. Ole Hansen, head of commodity strategy at Denmark's Saxo Bank warned that "multiple but temporary supply disruptions" like the North Sea Forties and Libyan pipeline outages (and) protests across Iran ... helped create a record speculative long bet." With the pipeline outages resolved and the protests in Iran showing no signs of impacting its oil production, Hansen said there was potential for a price downturn in early 2018, especially due to rising U.S. output. "It is only a matter of time before the 10 million barrel per day (bpd) production target will be reached," Hansen said. U.S. oil production has risen by almost 16 percent since mid-2016, hitting 9.75 million bpd at the end of last year. There was also some concern that output by Russia, the world's biggest oil producer and one of the key drivers together with the Organization of the Petroleum Exporting Countries (OPEC) in cutting supplies, was in fact not falling. As part of the supply cut deal, Russia pledged to reduce its output by 300,000 bpd from the 30-year monthly high of 11.247 million bpd hit in October 2016, which it achieved by the second quarter of 2017, according to Russian energy ministry data. For the whole of 2017, however, Russian output rose to an average output of 10.98 million bpd, compared with 10.96 million bpd in 2016 and 10.72 million bpd in 2015. "We also have some concerns about the Chinese economy in 2018 that ultimately could lead to lower than expected demand growth," Hansen said. "By year-end we see Brent crude at $60 per barrel with WTI three dollars lower at $57 per barrel." More»
Amwal Al Ghad English - 2018-01-03 06:23:01
Gold prices edged up on Wednesday, hitting over 3-1/2-month highs, driven by a softer dollar.Spot gold rose 0.2 percent to $1,320.77 an ounce at 0058 GMT, having hit its highest since Sept. 15 at $1,321.33 earlier in the session. U.S. gold futures were up 0.5 percent at $1,322.40 an ounce. The dollar index fell to a more than three-month low Tuesday on expectations of a slower pace of interest rate hikes by the U.S. Federal Reserve. The greenback posted its biggest annual drop since 2003 in 2017, helping to lift gold to an annual increase of more than 13 percent. Bullion surged $55 an ounce in the last three weeks of 2017 alone. Gold is highly sensitive to rising U.S. interest rates because it increases the opportunity cost of holding non-yielding bullion, while boosting the dollar, in which it is priced. Technical analysts warned that gold's rally is looking overdone in the short-term. Key factors for the bullion market this year will be how quickly central banks normalize interest rates, how much further the equities rally goes, the longer-term impact of U.S. tax reforms, and when inflation will pick up, Mitsubishi analyst Jonathan Butler said. Spot palladium jumped to a record high on Tuesday at $1,096.50 on fears of short supplies after soaring 57 percent in 2017. It was last up 0.2 percent at $1,094 an ounce early Wednesday. Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.14 percent to 836.32 tonnes on Tuesday from 837.50 tonnes on Friday. India's gold imports surged 67 percent in 2017 from the previous year to 855 tonnes as jewelers replenished inventory amid a rebound in retail demand, provisional data from precious metals consultancy GFMS showed. Spot gold may break a resistance at $1,326 per ounce and rise towards the next resistance at $1,380 in three months, as suggested by its wave pattern and a Fibonacci ratio analysis, according to Reuters technical analyst Wang Tao. Asian stocks struck a fresh decade high on Wednesday as risk appetites were whetted by a bevy of upbeat manufacturing surveys that confirmed a synchronized upturn in world growth was well under way. More»
Amwal Al Ghad English - 2018-01-03 06:18:34
The euro traded within sight of its highest level in three years on Wednesday, underpinned by optimism about the euro zone's economic outlook. The euro held steady at $1.2055, after rising as high as $1.2081 on Tuesday. That brought it close to the $1.2092 peak set in September, the euro's highest level since early 2015. After 2017 proved the euro's best against the dollar in 14 years, the single currency started 2018 on a strong note, as European economies strengthened and expectations grew that the European Central Bank will wind down its monetary stimulus. Euro zone manufacturers ended 2017 by ramping up activity at the fastest pace in more than two decades, a survey showed on Tuesday, and rising demand suggests they will start the new year on a high. Also supporting the euro was a comment from an ECB official over the weekend. Benoit Coeure said he saw a "reasonable chance" the bank's bond purchases would not be extended beyond September. A more synchronised global recovery, with economic growth picking up outside the United States, has prompted other countries' central banks to start moving towards tighter monetary policy in recent months, helping bolster their currencies against the dollar. Against that backdrop, the dollar has retreated broadly at the start of 2018.The market's focus is on the global trend towards a more synchronised normalisation of monetary policies, said Heng Koon How, head of market strategy for United Overseas Bank in Singapore. "It's this monetary policy normalisation everywhere that's playing catch-up to the Fed, and that's why the dollar is weak," Heng said. Against a basket of six major currencies, the dollar stood at 91.894, having touched a 3-1/2 month low of 91.751 on Tuesday. The dollar held steady at 112.34 yen. Later on Wednesday, investors will turn their attention to the minutes of the Federal Reserve's December policy meeting, at which the U.S. central bank raised interest rates for the third time in 2017. The dollar could also take its cues from U.S. economic data in the next few days, including jobs data on Friday. Currencies of commodity exporters stood tall after oil prices touched their highest levels since mid-2015 on Tuesday. The Canadian dollar last stood at C$1.2515 per U.S. dollar. It briefly rose to C$1.2500 early on Wednesday, matching Tuesday's peak, which was the loonie's highest level since October 20. More»
Amwal Al Ghad English - 2018-01-02 06:10:02
Gold prices hit over 3-month highs on Tuesday, supported by technical factors after the precious metal broke through strong resistance last week. Spot gold rose 0.2 percent to $1,305 an ounce at 0114 GMT, having hit its highest since Sept. 26 at $1,307.63 earlier in the session. Gold benefited from technically driven momentum after closing above its 100-day moving average last week and breaching strong resistance at $1,300 on Friday. U.S. gold futures inched down 0.2 percent to $1,307.20 an ounce. Spot gold rose 13 percent last year to mark its best year since 2010. Gold's gains coincide with the greenback, in which gold is priced, sliding toward its worst year since 2003 last week, damaged by tensions over North Korea, the Russian scandal surrounding U.S. President Donald Trump's election campaign, and persistently low U.S. inflation. The dollar remained out of favor having hit a three-month low against a basket of its peers on Friday. That brought its losses for 2017 to 9.8 percent, its worse performance since 2003. U.S. Mint sales of American Eagle gold and silver coins dropped to their lowest in 10 years in 2017, U.S. Mint data showed on Friday. Hedge funds and money managers raised their net long position in COMEX gold for the second straight week in the week to December 26, and cut their net short position in silver slightly, U.S. Commodity Futures Trading Commission data showed on Friday.A rally in gold prices to the highest level in a month and the year-end holiday mood dampened demand across Asia last week. More»
Amwal Al Ghad English - 2018-01-02 06:06:27
Oil prices had their highest January opening since 2014 on Tuesday, supported by ongoing supply cuts led by OPEC and Russia as well as strong demand.Only rising U.S. production, which is on the verge of breaking through 10 million barrels per day (bpd), is somewhat hampering the outlook into 2018. U.S. West Texas Intermediate (WTI) crude futures were at $60.29 a barrel at 0119 GMT, down 13 cents, or 0.2 percent, from their last settlement of 2017, but starting the year above $60 a barrel for the first time since 2014. Brent crude futures - the international benchmark for oil prices -were at $66.79 a barrel, down 8 cents, or 0.1 percent, since their last close of 2017. It is also the first time since 2014 that Brent opened a year above $60 a barrel. Traders said Tuesday's prices dips were due to the full return of the 450,000 bpd capacity Forties pipeline system in the North Sea, as well as ongoing repairs at a Libyan pipeline, which had cut output there by 70,000 bpd to 100,000 bpd. Global oil markets have been supported by a year of production cuts led by the Middle East-dominated Organisation of the Petroleum Exporting Countries (OPEC) and Russia. The cuts started in January 2017 and are scheduled to cover all of 2018. Strong demand growth, especially from China, has also been supporting crude. "Oil inventories have been declining since March 2017 and OPEC have agreed to extend production cuts until the end of 2018 so it is probably uncontroversial to say that the fundamental outlook for oil has improved since the beginning of 2017," said William O'Loughlin, investment analyst at Australia's Rivkin Securities. "On the other hand, the higher prices are expected to stoke U.S. shale output," he said. U.S. commercial crude oil inventories have fallen by almost 20 percent from their historic highs last March, to 431.9 million barrels. U.S. oil production has risen by almost 16 percent since mid-2016, to 9.75 million bpd at the end of last year. However, consultancy Rystad Energy said "U.S. crude oil production capacity has reached 10 million barrels per day." More»
Amwal Al Ghad English - 2018-01-02 06:03:56
The dollar languished near a three-month low versus a basket of major currencies on Tuesday as markets reopened at the start of 2018, while Asian currencies such as the Chinese yuan began the year on a high note. The dollar's index against a basket of six major currencies stood at 92.162. On Friday it had slipped to as low as 92.080, the weakest level since September 22. For the whole of 2017, the dollar index slid more than 9.8 percent, the greenback's worst annual performance since 2003. The dollar retreated in 2017, partly because economic growth picked up outside the United States, with other countries' central banks moving towards tighter monetary policy, lessening the perceived divergence between the Federal Reserve and others. The euro edged up 0.1 percent on the day at $1.2018, after having surged 14 percent in 2017 for its best annual performance since 2003. The euro had risen 1.1 percent in the last week of 2017, bringing it back within sight of a 2-1/2 year peak of $1.2092 set in September. In addition to political factors such as the Italian election in March, a key factor for the euro in 2018 is how the European Central Bank proceeds with curtailing its massive monetary stimulus. With the dollar on the defensive, emerging Asian currencies clawed higher. The Chinese yuan rose to as high as 6.4922 yuan per dollar, its highest level since Sept. 8. "Highlighting today's moves is the euro trading above $1.20 and the Chinese yuan dropping below 6.5," said Satoshi Okagawa, senior global markets analyst at Sumitomo Mitsui Banking Corporation in Singapore. "There's across-the-board strength in Asian currencies on the back of such moves," Okagawa said, adding that a drop in the benchmark U.S. 10-year Treasury yield toward the end of 2017 was helping to weigh on the U.S. dollar. The greenback's weak tone helped boost the Singapore dollar, which rose to S$1.3322 per U.S. dollar at one point, its strongest level since June 2016. In addition, data released on Tuesday showed Singapore's economic growth slowed in the fourth quarter as factories lost steam, but a services sector recovery helped underscore expectations that the city-state's central bank could tighten its exchange-rate based monetary policy as early as April. Bitcoin, the biggest and best-known digital currency, fell 2.0 percent to around $13,175 on the Luxembourg-based Bitstamp exchange. Bitcoin had soared in 2017, gaining more than 1,300 percent for the year. More»
Amwal Al Ghad English - 2017-12-30 06:54:31
Gold hit a one-month high on Friday and ended the year with its biggest annual rise since 2010 as a wilting dollar, political tensions and receding concerns over the impact of U.S. interest rate hikes fed into its rally. The dollar, in which gold is priced, is sliding towards its worst year since 2003, hurt by tensions over North Korea, the Russian scandal surrounding U.S. President Donald Trump's election campaign, and persistently low U.S. inflation. The dollar's drop to three-month lows versus a basket of currencies on Friday lifted gold to its highest level since late November, within a few dollars of $1,300 an ounce. Spot gold was up 0.62 percent at $1,302.72 an ounce. U.S. gold futures for February delivery settled up 0.93 percent at $1,309.30 today, hitting a high of $1,309.80, its highest level since Sep 26th when gold hit a high of $1,317.10. "In the last couple of weeks trade has been relatively thin, yields have been under pressure and the dollar as well, so gold has profited from that," ABN Amro analyst Georgette Boele said. "If you look over the year, dollar weakness has been the main theme." Gold will be vulnerable next year to a rebound in the currency, as well as any gains in yields, she said. The opportunity cost of holding non-interest bearing bullion increases when yields rise elsewhere. The impact of three U.S. interest rate hikes this year was offset by the dollar's weakness, she said. "The dollar is the most important driver, and then real yields," she said. "The Fed is increasing rates, but the dollar's not profiting." Gold, which turned in its best month since August, has also benefited of late from technically driven momentum, analysts said. After breaking above its 100-day moving average this week at $1,295 an ounce, new resistance comes in at the $1,300 level, ScotiaMocatta's technical team said in a note. "Momentum indicators are bullish as gold appears poised to target the October high (of) 1,306," it said. Among the precious metals, palladium has seen the strongest rise this year, climbing more than 55 percent as concerns grew over availability after years of market deficit. Spot palladium was down 0.24 percent at $1,062.75 an ounce, having hit its highest since February 2001 at $1,072 in the previous session. It has held in a historically unusual premium to platinum through the fourth quarter. Spot silver was up 0.48 percent at $16.92, while platinum was 0.13 percent higher at $924.24. This year the two metals have risen 5.9 percent and 3 percent, respectively. More»
Amwal Al Ghad English - 2017-12-30 06:52:06
Dollar prices fell to its lowest in over three months against a basket of major currencies on Friday, on track for its steepest annual drop since 2003, on doubts over durability of a pickup in U.S. economic growth in wake of last week's tax overhaul. One of the most dramatic market developments in 2017 was the breath-taking rise of bitcoin and other cryptocurrencies. While they have pulled back at year-end, many of these digital currencies have surged in value this year. The greenback may lag further against its peers in 2018 as investors expected other major central banks to reduce their stimulus while the Federal Reserve has signaled it would raise interest rates further, analysts said. "The dollar will face more headwinds in 2018," said Chris Gaffney, president of Everbank in St. Louis, Missouri. "The Fed won't be going at it alone in terms of taking off more gas from the stimulus pedal." Bets the European Central Bank might consider raising interest rates by the end of 2018 due to evidence of higher inflation and business activity in the euro have lifted the euro, which was poised for its best yearly performance versus the greenback in 14 years. The euro hit a three-month peak at $1.2013, bringing its annual gain to 14.1 percent. It was last up 0.68 percent at $1.2022. The euro's rally was a drag on the greenback in 2017. The index that tracks the dollar versus the euro and five other major currencies fell as low as 92.12, the lowest since Sept. 22. It was on track for its steepest annual decline since 2003. The dollar also weakened against the yen, sterling, Canadian dollar, Swedish krona and Swiss franc, which are the other index components this year. The dollar index at a 14-year peak at the start of 2017 on hopes for U.S. President Donald Trump's pro-growth economic agenda. Barring the most dramatic rewrite of the U.S. tax code in 20 years enacted last week, Trump and Republican lawmakers have struggled to pass legislation. Furthermore, many institutional investors close their books at the year-end, a deadline for taxation and performance reporting, a time seen leading to dollar selling pressure, analysts said. Outside of traditional currencies, bitcoin and other cryptocurrencies rebounded after two days of losses tied partly to more regulators toughening rules on digital currencies in a bid to curb excessive speculation. Bitcoin was last up 1.11 percent at $14,588.40 on the Bitstamp exchange. It was off the record highs near $20,000 touched 12 days ago but still headed for a gain of roughly 1,400 percent in 2017. Financial markets around the world will be closed on Monday on New Year's Day. More»
Amwal Al Ghad English - 2017-12-30 06:48:55
U.S. oil prices rose above $60 a barrel on the final trading day of the year and hit their highest since mid-2015, as an unexpected fall in American output and a decline in commercial crude inventories stoked buying in generally thin trading. International benchmark Brent crude futures also rose, supported by ongoing supply cuts by top producers OPEC and Russia as well as strong demand from China. Oil prices closed 2017 with strong gains on signs the global glut that has dogged the market since 2014 is shrinking. Brent is up more than 17 percent since the beginning of the year and U.S. West Texas Intermediate is 12.5 percent higher. U.S. West Texas Intermediate (WTI) crude futures rose 58, or 1 percent, to $60.42 a barrel, marking its best closing price since June 2015. Brent crude futures, the international benchmark, were also up, rising 76 cents or 1.2 percent to $66.92 a barrel by 2:25 p.m. ET (1925 GMT). Brent broke through $67 earlier this week for the first time since May 2015. WTI prices were supported by data from the U.S. Energy Information Administration late on Thursday showing a modest drop last week in domestic oil production to 9.75 million barrels per day (bpd) from 9.79 million bpd the previous week. Earlier this year, oil prices slumped on concerns that rising crude production from Nigeria, Libya and elsewhere would undermine output cuts led by the Organization of the Petroleum Exporting Countries and Russia. Prices have rallied nearly 50 percent since the middle of the year on robust demand and strong compliance with the production limits. "That trend is likely to continue into 2018 and worldwide oil inventories will continue their decline," said Andrew Lipow, president of Lipow Oil Associates in Houston. Lipow said he expected U.S. crude prices to creep up to around $63 a barrel by the end of next year, while Brent would remain around $67 a barrel as U.S. oil exports rise to record levels. U.S. output is up almost 16 percent since mid-2016, but still shy of 10 million bpd, which would trail only top exporter Saudi Arabia and top producer Russia. The number of oil rigs operating in U.S. fields remain unchanged for a second week in a row, according to oilfield services firm Baker Hughes. There were 747 oil rigs operating in the latest week, a roughly 42 percent jump from the end of last year. Analysts expect U.S. production to top 10 million bpd in the next few weeks and to keep growing, limiting efforts by other producers to cap global supplies. "The U.S. shale impact is now encroaching on uncharted territory," analysts at RBC Capital Markets wrote this month, saying it had "redrawn the global crude flow map." WTI prices were further boosted by an EIA report of a 4.6 million barrel weekly drop in U.S. commercial crude storage levels. Inventories are down by almost 20 percent from historic highs last March, and well below this time last year or in 2015. In international markets, China has issued crude oil import quotas totaling 121.32 million tons for 44 companies in its first batch of allowances for 2018. China's imports at around 8.5 million bpd, already the world's biggest, are expected to hit another record in 2018 as new refining capacity is brought online and Beijing allows more independent refiners to import crude. Pipeline outages in Libya and the North Sea have supported oil prices, although both disruptions are expected to be resolved by early January. The Forties pipeline was already pumping close to normal levels, trading sources said. More»
Amwal Al Ghad English - 2017-12-28 05:51:49
The dollar was on the defensive on Thursday, facing headwinds from a dip in U.S. 10-year bond yields, while commodity-linked currencies were bolstered by this week's rally in metal and oil prices. The dollar's index against a basket of six major currencies last stood at 92.980, languishing near Wednesday's trough of 92.956, its weakest level since Dec. 1. "Bond yields have pulled back from their peaks and the dollar is trading with a soft tone," said Satoshi Okagawa, senior global markets analyst at Sumitomo Mitsui Banking Corporation in Singapore, referring to a pullback in U.S. 10-year Treasury yields. The U.S. 10-year Treasury yield stood near 2.42 percent, having come off a nine-month high of 2.504 percent set last week. The U.S. 10-year yield had slipped on Wednesday as investors rebalanced portfolios before year-end. The euro edged up 0.1 percent to $1.1902, having set a 3-1/2 week high of $1.1911 on Wednesday. Against the yen, the dollar eased 0.2 percent to 113.19 yen, staying below a four-week high of 113.75 yen touched on December 12. Currencies of commodities exporters remained firm, in the wake of this week's rise in oil prices to 2-1/2 year highs and a surge in copper prices to four-year peaks. The Australian dollar touched a fresh two-month high of $0.7780 on Thursday, having gained 0.8 percent so far this week. The Canadian dollar last stood at C$1.2639. On Wednesday, the loonie had touched a three-week high of C$1.2627. A rise to levels beyond its early December high of C$1.2624 would send the Canadian dollar to its highest since late October. More»