amwalalghad :: Dollar draws relief from White House raising chance of tariff exemptions, euro awaits ECB

Your English Portal To Arab Economy

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        

Dollar draws relief from White House raising chance of tariff exemptions, euro awaits ECB

Published Thursday, 08 March 2018 08:44 | Written by Amwal Al Ghad English

Dollar prices recovered ground on Thursday, drawing relief from positive labor market data and the White House saying Canada and Mexico, and possibly other countries, may be exempted from planned U.S. import tariffs on steel and aluminium.

Elsewhere on the currency markets, the euro trod water ahead of a European Central Bank meeting later in the global day, that is expected to leave policy rates unchanged for now, but may provide clues to the future.

The dollar had weakened sharply following the resignation on Tuesday of Gary Cohn, the top economic advisor to the White House who was seen as seen as a bulwark against protectionism in the Trump administration.

His departure had fanned fears of a potential global trade war if U.S. President Donald Trump pressed ahead with proposals for tariffs on all imports of steel and aluminium.

Broader financial markets grew calmer, with Wall Street paring losses overnight, after the WhiteHouse raised the possibility of exemptions. Some dealers have bet on the possibility that the tariff threat was a negotiating ploy in trade talks with neighbors.

Amid growing pressure to exempt U.S. allies, Trump is expected to sign a proclamation establishing the steel and aluminium tariffs during a ceremony scheduled for 2030 GMT.

The dollar's bounce was stoked further by Wednesday's data on domestic private hiring and labor costs that reinforced the view of underlying strength in the U.S. economy.

The U.S. currency was steady at 106.130 yen after slipping to as low as 105.450 the previous day in reaction to Cohn's departure.

The dollar index against a basket of six major currencies was effectively flat at 89.592 after pulling away from a two-week trough of 89.407 set the previous day.

"The market has managed to digest Cohn's resignation," said Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo. "That said, 'Trump risk,' which are developments associated with the U.S. president and his circle, will continue to impact the market as once of the main themes of 2018,"

The euro was little changed at $1.2409 after retracing a bounce earlier on Wednesday to a 2-1/2-week peak of $1.2447.

Focus for the common currency was on the ECB's policy decision at 1245 GMT.

The central bank is all but certain to keep policy unchanged but may tweak its communication stance to offer at least a few clues about its progress towards ending its unprecedented bond purchases later this year.

"Under normal circumstances the ECB decision would not be a risk event as the central bank is expected to stand pat on policy. But the ECB's stance will be watched carefully in the wake of political confusion in the United States," Ishikawa at IG Securities said.

The Canadian dollar was at C$1.2914 per dollar, having weakened to C$1.3002 on Wednesday but recovering on the prospect that Trump's tariffs may exempt Canada and Mexico.

The Mexican currency was at 18.72 pesos per dollar following its recovery from 18.90 touched on Wednesday.

The Australian and New Zealand dollars were little changed at $0.7829 and $0.7286, respectively.

Source: Reuters

Forex Videos »

شاهد الفيديو

Insecurity in Mali worsens food crisis

شاهد الفيديو

Nigeria's apparent complacency about Western oil companies' theft-Africa Today-06-19-2012

شاهد الفيديو

Is British/Canadian desperation for Tanzanian gold a result of recession?-Africa Today-06-12-2012

شاهد الفيديو

OPEC Expected to Reduce Output If Oil Falls Further