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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

Mohamed Hamdy - 2016-12-19 11:58:58
Saudi Riyal surged on Monday to its highest level against Egyptian pounds since the latter’s Nov. 3 flotation, reaching a new record high of 5 pounds. The country’s central bank abandoned earlier in November the pound's peg of 8.8 to the dollar in an effort to attract inflows of capital and close down a booming black market in dollars. The table below demonstrates the selling and buying prices of the Saudi currency against the Egyptian pound in 14 banks, according to data compiled by Amwal Al Ghad early Monday. More»
Amwal Al Ghad English - 2016-12-19 10:38:54
Malaysia’s ringgit has dropped to its lowest since the 1998 Asian Financial Crisis, as dollar bullishness and domestic economic weaknesses weigh on the beleaguered currency. On Monday in Asia, the dollar traded at 4.4770 ringgit, up from its previous close of 4.4755 amid outflows as a broad bullish trend extends in the greenback, according to Reuters data. The ringgit has had a torrid time since Donald Trump's win in the U.S. presidential election on Nov. 8, joining other emerging market assets that have tumbled in the wake of Trump's win, as the dollar surged and U.S. Treasury yields jumped. The dollar's strength has impacted emerging-market companies' ability to service dollar-denominated debt and spurred outflows from the segment on the prospect of higher, less-risky returns on Treasurys. Chang Wei Liang, FX strategist at Mizuho Bank said last week's interest rate hike by the U.S. Federal Reserve contributed to further weakness. The Fed, which raised interest rates last week, has penciled in three rate increases in 2017. Malaysia's central bank, Bank Negara Malaysia, has also been moving to clamp down on non-deliverable forward trades to curb speculative activity on the offshore market, causing some concerns in the currency trade and prompting outflows. Still, with the extended slump in oil prices and the country's current account surplus at a 13-year-low, the ringgit's weakness is "not out of whack with the fundamentals in place," he noted. The ringgit was unlikely to fall dramatically lower, he added, as recent announcements by OPEC and major non-OPEC oil producing countries will give some support to oil prices. Mizuho is forecasting dollar/ringgit at 4.30-4.7 in the first quarter of 2017. Additionally, markets have been pricing in Trump's aggressive rhetoric on curtailing global trade with the U.S., which would disproportionately hurt trade-dependent emerging economies. Even before Trump's upset win, the ringgit was under pressure from weak oil prices and a political scandal in the country over Malaysia's deeply indebted sovereign fund. Investigations and court cases were continuing globally into allegations that billions of dollars were looted from Malaysian state development fund 1Malaysia Development Berhad (1MDB). The long-running scandal has included allegations that diverted funds flowed to Malaysia's Prime Minister Najib Razak's personal bank account and to his stepson, Riza Aziz, whose company, Red Granite Pictures, produced the film "The Wolf of Wall Street." Najib, Riza and Red Granite Pictures have all denied wrongdoing. More»
Amwal Al Ghad English - 2016-12-19 06:34:26
Gold edged up on Monday, extending its recovery from a 10-1/2-month low hit last week, as the U.S. dollar slipped from a 14-year peak against a basket of currencies. Spot gold edged 0.3 percent higher to $1,137.76 an ounce by 0407 GMT. The bullion touched $1,122.35 on Thursday, its weakest since Feb. 2. Gold edged up on Monday, extending its recovery from a 10-1/2-month low hit last week, as the U.S. dollar slipped from a 14-year peak against a basket of currencies. Spot gold edged 0.3 percent higher to $1,137.76 an ounce by 0407 GMT. The bullion touched $1,122.35 on Thursday, its weakest since Feb. 2. Gold now appears to have found a base, however, upside will be limited as investors look to other markets for yield, ANZ said in a note. More»
Amwal Al Ghad English - 2016-12-19 06:24:32
Oil prices rose on Monday in anticipation of tighter crude supply going into 2017 following the decision by OPEC and other producers to cut output to prop up prices. Brent crude futures, the international benchmark for oil prices, were trading at $55.57 per barrel at 0401 GMT, up 36 cents, or 0.7 percent, from their last close. U.S. West Texas Intermediate (WTI) crude oil futures were up 43 cents, or 0.8 percent, at $52.33 a barrel. Traders said the higher prices in front-month crude futures were due to expectations of a tighter market. The Organization of the Petroleum Exporting Countries (OPEC) and other producers led by Russia have announced cutbacks of almost 1.8 million barrels per day (bpd) in oil production from January 2017 in an effort to bolster prices to reduce rampant global overproduction which has seen output outstrip consumption for over two years. More»
Amwal Al Ghad English - 2016-12-19 06:16:51
The dollar edged lower in Asian trading on Monday as some investors took profits after its rise last week to a 14-year peak against a currency basket, though it remained underpinned by expectations of more U.S. interest hikes in the coming year. The Federal Reserve's interest rate forecasts released on Wednesday, after its widely expected rate increase, showed three more hikes in 2017, which fueled the dollar's rise to last week's highs. The dollar index, which tracks the U.S. currency against a basket of six major counterparts, was last down 0.2 percent at 102.720. It climbed as high as 103.560 last week. The euro was last up slightly at $1.0457, holding above a nearly 14-year low of $1.0364 notched last week. The dollar was down 0.4 percent against its Japanese peer at 117.38 yen, taking a breather after climbing to a 10-1/2 month high of 118.66 yen last week. More»
Amwal Al Ghad English - 2016-12-18 09:24:20
The table below demonstrates the selling and buying prices of U.S. dollar against the Egyptian pound in 17 banks during early Sunday’s interbank dealings in Egypt, according to data compiled by Amwal Al Ghad. The country’s central bank abandoned earlier in November the pound's peg of 8.8 to the dollar in an effort to attract inflows of capital and close down a booming black market in dollars. More»
Amwal Al Ghad English - 2016-12-17 10:36:38
Investment bank Goldman Sachs revised on Friday its crude oil price forecast for the second quarter of 2017 on the back of a decision by OPEC members and other countries to cut production amid growing demand from consumers. Goldman Sachs has upped its oil price outlook for the second quarter of 2017 to $57.50 a barrel from $55 a barrel for U.S. West Texas Intermediate crude. It also raised its price forecast for international benchmark Brent crude to $59 a barrel from $56.50 a barrel. The investment bank's December outlook for U.S. crude however remains at $50 a barrel as a potential ramp up in oil production from Libya and a stronger dollar limit the near-term upside. As for the much hyped production cuts by OPEC and major non-OPEC producers, there will be "little evidence" of the cuts until mid to late January, when they will be the "next catalyst for the next large move in prices". "Ultimately,our work on Saudi Arabia's fiscal balance suggests that the kingdom has a strong incentive to cut production to achieve a normalization of inventories,even if it requires a larger unilateral cut, consistent with comments last weekend by the energy minister. Given this incentive to cut and in light of the OPEC and non-OPEC cuts announced over the past two weeks, we are slightly raising the 1H17 production declines that we project from the participating producers," the Goldman analysts wrote. They expect 84 percent compliance to the announced collective cuts of 1.6 million barrels a day. "Beyond H1 2017, we expect that the global market will remain balanced, with Brent prices between $55 per barrel and $60 per barrel, on higher production from low-cost producers, a greater shale supply response and the continued ramp up in legacy projects," analysts from the house added. More»
Amwal Al Ghad English - 2016-12-17 10:25:07
Gold has tumbled over 11 percent in the weeks since the U.S. election, and some say the losses are to accelerate. After briefly rising above $1,375 per troy ounce in early July, gold has given back nearly all of its gains on the year. At its Thursday lows of $1,124, gold was just 5.6 percentage points — $64 — away from wiping out all its gains on the year. If gold does finish 2016 in the red, it would mark the fourth-straight year in which the metal has logged a loss. The last time it saw such a streak 1988 to 1992. Gold sank this week after the Federal Reserve announced it planned to raise U.S. interest rates for the first time this year and expected three more hikes in 2017. Treasury yields surged, as did the dollar index, pushing gold down. Gold could be due for a sustained period of losses, as its current levels bear similarities to those of the early 2000s, according to one technical analyst. "The factors that have pressured it have indeed been the stronger dollar, and I think gold is selling off as a safe-haven asset as well, with the market embracing more risk, and I think that can continue," Ari Wald, head of technical analysis at Oppenheimer, said Thursday on CNBC's "Power Lunch." Examining a long-term chart of gold, Wald points to a spike the metal saw in 1999 from about $250 to just over $300 per ounce. "After that spike, gold ultimately settled back into its base and it really required another two years of basing until it really started to break higher again. We think we're in a similar basing period, where it's probably, at best, dead money here, even if it is coming into some sort of support. That prior low at $1,045 I think is the important level here," Wald said, adding he would "look elsewhere" for investment opportunities. Gold is generally considered a "safe haven" that people turn to in times of turmoil. And with stocks turning higher, investors appear to see less of a reason to own the metal. "As we know, gold is really priced according to investor sentiment, the dollar and interest rates. And right now, sentiment, interest rates and everything else is going up. There's no reason to have that safety bet or that insurance with gold. So for us, we see them continually to be in this downtrend — no big turnaround anytime soon," Erin Gibbs, equity chief investment officer at S&P Global, said Thursday on CNBC's "Power Lunch." More»
Amwal Al Ghad English - 2016-12-15 07:17:02
Gold prices dropped to their lowest in over 10 months on Thursday, with the dollar surging after the United States raised interest rates for the first time in a year and signaled further hikes for 2017. Spot gold had edged down 0.1 percent to $1,143.05 an ounce by 0301 GMT, after earlier touching its weakest level since Feb. 3 at 1,134.71. It fell over 1 percent the session before. U.S. gold futures declined 1.6 percent to $1,145.20 per ounce. They earlier marked their lowest since Feb. 1 at $1,136.40 an ounce. "The outlook for gold is not particularly great. The more hawkish comments from the Fed are clearly a headwind in the short-term," said ANZ analyst Daniel Hynes. "The selling seen this morning is just the start of things to come. Certainly the environment is difficult for gold given the appreciation in the dollar." The dollar hovered near a 14-year peak against a basket of major currencies on Thursday. More»
Amwal Al Ghad English - 2016-12-15 07:06:04
Oil prices stabilized on Thursday as a tighter market looms in 2017 due to planned output cuts led by OPEC and Russia, after sharp declines earlier following Wednesday's U.S. interest rate increase that drove investors out of commodities. International Brent crude oil futures were trading at $54.02 a barrel at 0428 GMT, up 12 cents from their last close. U.S. West Texas Intermediate (WTI) crude oil futures were at $51.02 per barrel, virtually flat with their last settlement. ANZ bank said on Thursday that oil markets would move into a substantial deficit in the first quarter of 2017 if the Organization of the Petroleum Exporting Countries (OPEC) and other producers led by Russia go through with their announced cuts of almost 1.8 million barrels per day (bpd) in output. "This will likely push oil prices well above $60 per barrel early next year," it said. More»