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Telecom Egypt   11.48        GMC GROUP FOR INDUSTRIAL COMME   1.29        El Arabia for Investment & Dev   0.34        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        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        Egyptians Housing Development    1.94        United Arab Shipping   0.43        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        National Real Estate Bank for    11.84        Egyptian Chemical Industries (   7.26        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        Credit Agricole Egypt   9.04        Palm Hills Development Company   1.61        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        Ceramic & Porcelain   2.88        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        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        Cairo Poultry   8.32        ARAB POLVARA SPINNING & WEAVIN   2.11        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 - 2016-09-08 08:53:58
Oil prices extended gains by more than 1.5 percent on Thursday after industry data showed what might be the largest weekly drawdown in crude stocks in over three decades. U.S. crude stocks surprisingly plunged by 12.1 million barrels last week, data from the American Petroleum Institute showed after market settlement on Wednesday, compared with expectations for an increase of around 200,000 barrels. [API/S] If official data released from the U.S. government later on Thursday confirms the draw, it would be the largest one-week decline since April 1985. London Brent crude for November delivery had climbed 75 cents to $48.73 a barrel by 0400 GMT, after settling up 72 cents on Wednesday. NYMEX crude for October delivery was up 79 cents at $46.29, having ended the previous session up 67 cents. U.S. crude stocks have been at record highs in the last two years, thanks in part to the shale oil boom that boosted output. Some analysts said Tropical Storm Hermine, which threatened the Gulf Coast refining region late last week before moving to the U.S. East Coast, may have skewed the figures. "I'm surprised at the big draw," said Tomomichi Akuta, senior economist at Mitsubishi UFJ Research and Consulting in Tokyo. "Despite a possible temporary effect (from the tropical storm), it raised concerns of supply/demand tightening significantly." Analysts said a large decline in U.S. gasoline stocks also supported oil. Gasoline stocks fell 2.3 million barrels, compared with expectations for a 171,000-barrel decline, the API data showed. Distillate stockpiles, which include diesel and heating oil, rose 944,000 barrels, compared with expectations for a 684,000-barrel gain. Crude was also supported by robust Chinese trade data. China raised its crude oil imports by 5.7 percent in August from a month earlier, while its August imports marked the first rise in nearly two years. Oil hit a one-week high on Monday after Russia and Saudi Arabia agreed to cooperate on stabilizing the oil market. Prices have since fallen due to uncertainty over a possible deal by producer nations to freeze output, particularly after a meeting in Doha in April ended without such an agreement. The Organization of the Petroleum Exporting Countries and non-OPEC producers such as Russia are expected to discuss the issue at informal talks in Algeria from Sept. 26-28. More»
Amwal Al Ghad English - 2016-09-08 08:40:01
The euro edged toward a two-week high against the dollar on Thursday, with traders waiting for a European Central Bank policy decision that many doubt will have any significant impact on the euro, even if monetary policy is eased further. Investors are focusing on whether the ECB will extend its asset-purchase program beyond March 2017, and whether it will tweak the program to ease supply scarcity issues - the pool of bonds it can currently buy, in particular German Bunds, is dwindling because of record-low yields. Growth and inflation remain weak, despite record-low interest rates and 1.2 trillion euros' worth of quantitative easing in the past year and a half. The euro is barely 3 percent weaker against the dollar EUR= than when the bond-purchase program was first announced, in January 2015, and it is up almost 4 percent this year. More»
Amwal Al Ghad English - 2016-09-07 08:47:13
Oil prices inched lower on Wednesday as market participants remained skeptical that producers will reach an agreement to freeze output to rein in a global supply glut. London Brent crude for November delivery was down 4 cents at $47.22 a barrel by 2018 EST, after settling down 37 cents on Tuesday. NYMEX crude for October delivery was down 8 cents at $44.75, after settling up 39 cents on Tuesday. Oil prices hit a one-week high on Monday after Russia and Saudi Arabia agreed to cooperate on stabilizing the oil market, but they have since fallen due to the mounting uncertainty over a deal. The Organization of the Petroleum Exporting Countries and non-OPEC producers such as Russia will hold informal talks in Algeria on Sept. 26-28, but many in the market are skeptical a deal will happen. Saudi Arabia's Foreign Minister Adel al-Jubeir said on Tuesday it would go along with a freeze in oil output if other producers agreed one but cautioned that Iran, which is aiming to raise output to pre-sanction levels, could foil any attempt to limit output. More»
Amwal Al Ghad English - 2016-09-07 08:37:13
The dollar fell to its lowest in more than a week against the yen on Wednesday as subdued U.S. data made an interest rate increase this month unlikely and drove investors to cut favorable bets in the greenback. In Europe, the focus will be on Bank of England chief Mark Carney's testimony to lawmakers. Sterling has rallied to its highest in seven weeks against the dollar GBP=D4, boosted by a slew of robust economic data that has seen fears of a recession in the near term abate. The dollar was down 0.5 percent at 101.45 yen JPY= after dipping as low as 101.20 earlier, its lowest since Aug. 26 --when Federal Reserve chair Janet Yellen gave an upbeat speech on the economy that revived bets of a rate hike in the near term. Since then, the dollar has been struggling to make headway and tumbled more than 1 percent against the yen on Tuesday. "Since the Jackson Hole speech, the implied probability of Fed's rate hike for its September meeting fell from 42 percent to 24 percent and the 2-year Treasury yield dipped by around 10 basis points," said Petr Krpata, currency strategist at ING. "Clearly, this is a challenging environment for the dollar." More»
Amwal Al Ghad English - 2016-09-06 10:05:33
Australia's dollar was the biggest gainer among major currencies as U.S. and European traders returned from summer holidays Tuesday, jumping almost 1 percent after the country's central bank announced  little on its 10 percent rise since January. The dollar, euro and yen were all trading in tight ranges after a surge for the yen on the back of comments by Bank of Japan Governor Haruhiko Kuroda which acknowledged the problems created by running negative interest rates. Data on Australian government spending and its current account deficit pointed to solid economic growth last quarter, and the Reserve Bank of Australia as expected kept interest rates on hold. At Governor Glenn Stevens' last meeting, the bank made little reference to the concerns over the Aussie's strength that have spotted the last two years of policymaking. "Domestic and global growth along with inflation was the headline (rather than the dollar)," said Tobias Davis, Head of Corporate Treasury Sales with Western Union in London. "One perhaps could have expected some more discussion of the currency, but we probably need to get back above 0.80 for verbal invention to come back into flavor." In morning trade in Europe, the Aussie traded as much as 0.9 percent higher at $0.7655. The U.S. dollar was trading at 103.67 yen, having fallen from Friday's one-month high of 104.32. With dealers and investors searching for the currency trade that will dominate the next month or two, upward pressure on the yen continues in the absence of much clarity on the chances of a rise in U.S. interest rates by the end of the year. Though Kuroda signaled his readiness to expand an already massive stimulus program in his speech on Monday, he did not provide any explicit hints on the chances of the BOJ aggressively easing policy at its next review on Sept. 20-21. In addition, many analysts noted that Kuroda admitted for the first time that his stimulus drive has its costs, even though he disputed the view that the BOJ's stimulus is reaching its practical limit. "For those who had been believing in a Kuroda who stresses only the benefits of easing, the speech would have been disappointing," said Makoto Noji, senior strategist at SMBC Nikko Securities. "To be sure, he is unlikely to change his policy framework given that he was preaching the benefit of stimulus. Yet many market players might have felt that the costs are likely to outweigh the benefits in the future," he added. More»
Amwal Al Ghad English - 2016-09-06 09:15:08
Oil slipped towards $47 a barrel on Tuesday, falling further from the previous session's one-week high on receding hopes for imminent action to tackle a supply glut. Saudi Arabia and Russia agreed on Monday to cooperate in world oil markets. Brent jumped almost 5 percent, only to pare gains after Saudi Energy Minister Khalid al-Falih said there was no need to freeze output for now. "The two nations' cooperation is understandable," said Kaname Gokon, a strategist with Okato Shoji Co Ltd. "But when oil output is reduced, other producers would receive the benefit. There is still a question whether they can cut production for a sustainable period." Brent crude for November was down 32 cents at $47.31 a barrel by 0834 GMT (0434 ET). U.S. crude for October, which did not settle on Monday due to the Labor Day holiday, was at $45.04, up 60 cents from Friday's close. Oil prices are half their level of mid-2014, hurting producing nations' income. OPEC and Russia tried earlier this year to curb the glut by seeking an output freeze, but the deal collapsed in April due to tension between Saudi Arabia and Iran. The Organization of the Petroleum Exporting Countries and non-OPEC producers such as Russia will hold informal talks in Algeria on Sept. 26-28. Iran, which is raising exports after the lifting of Western sanctions in January, refused to participate in the earlier effort to freeze output. Saudi Arabia insisted all producers participate, prompting the collapse of the talks. By some measures, Iran is pumping at its pre-sanctions rate. OPEC and industry sources have said Tehran now appears to be more willing to reach an understanding with other producers. OPEC Secretary-General Mohammed Barkindo met Iran's oil minister, Bijan Zanganeh, in Tehran on Tuesday. No details of the discussions were immediately available. More»
Amwal Al Ghad English - 2016-09-05 09:27:25
The dollar slipped against the yen on Monday, after the head of the Bank of Japan disappointed those investors who had expected a clear signal that monetary policy would be eased further this month. The greenback hit a five-week high on Friday as markets bet that the U.S. Federal Reserve was still likely to raise interest rates in the coming months, despite disappointing U.S. jobs numbers. But having gained more than 4 percent against the Japanese currency in six days, the dollar stalled on Monday, slipping 0.7 percent after BOJ Governor Haruhiko Kuroda's comments, to 103.27 yen JPY=. Though Kuroda signalled his readiness to further expand an already massive stimulus programme, he did not provide the explicit hints that some had been waiting for on the chances of the BOJ aggressively easing policy at its next review on Sept. 20-21, traders said. From Zurich, UBS's head of currency strategy Constantin Bolz said the factors that had driven the yen higher - growing expectations of a Fed hike in September, bets on imminent further BOJ easing, and increased risk appetite - had faded somewhat, but that a fall-back was not surprising given the rapidity of the move. "We shouldn't forget that we were at 100 yen ten days ago," Bolz said. "The (U.S.) labour market wasn't great ... so that took out a bit of steam from the dollar side, and then Kuroda didn't say anything too clear about further easing at the end of September and so now markets have to level out their bets a little bit." Data from the U.S. Commodity Futures Trading Commission released on Friday showed that currency speculators increased their bets on the yen in the week ending Aug. 30, but had cut their long U.S. dollar bets to an 8-week low. The dollar index, which measures the greenback against a basket of six major currencies .DXY, stood at 95.660, managing to stay above a one-week low of 95.189 set on Friday just after the U.S. payrolls data. Nonfarm payrolls rose by 151,000 jobs last month, below the 180,000 jobs that economists had expected. "While the headline figure was weak, the data did not completely rule out the possibility of a rate hike in September," said Masashi Murata, senior currency strategist at Brown Brothers Harriman in Tokyo. Markets are now pricing in just over a 1 in 5 chance that U.S. rates will be incresed in September, and a just over 50 percent chance that they will be hiked by the end of the year - down from around a 55 percent chance priced in last week before the jobs data, according to CME FedWatch. The euro EUR= edged up 0.1 percent to $1.1172, not far from last Wednesday's three-week low of $1.1123. More»
Amwal Al Ghad English - 2016-09-05 08:51:09
Crude prices reversed early losses on Monday as the dollar lost its momentum, but persistent concerns over a global glut despite some signs producers may try to tackle weak oil futures kept a lid on gains. Oil prices fell about 1 percent earlier in the day with the dollar holding firm as disappointing U.S. jobs growth data did little to change investors' perception that the Federal Reserve is likely to raise interest rates in coming months. [USD/] By 0653 GMT, London Brent crude for November delivery LCOc1 was up 7 cents at $46.90 a barrel, recovering as the dollar slipped slightly versus a basket of currencies .DXY. Brent settled up $1.38 on Friday. U.S. crude for October delivery CLc1 was unchanged at $44.44 a barrel. Trading is likely to be limited on Monday because of the U.S. Labor Day holiday. Brent rallied to above $50 a barrel in late August, helped by growing talk of a coordinated production freeze, but prices have since fallen as few believe OPEC will cut output. Russian Energy Minister Alexander Novak has said that an oil production freeze would be one of the issues discussed by crude producers later this month in Algeria. "Even though there will be discussions in Algeria, there's no strong feeling that anything will be done, so the supply remains high," Tony Nunan, oil risk manager at Japan's Mitsubishi Corp in Tokyo said. "Saudi Arabia's position hasn't changed. They are open to some kind of production freeze if Iran and other major producers join," Nunan added. Iran, OPEC's third largest producer, has said it would only cooperate in talks to freeze output if fellow exporters recognized its right to fully regain market share. "Even if successful, an OPEC freeze would likely be a short-term positive but a medium-term negative for oil prices," Morgan Stanley analysts wrote in a note. "If a short-term freeze were implemented, oil prices would rise on the news, but it would do little to correct the near-term oversupply." Iran is ready to raise its output to 4 million barrels per day in a couple of months depending on market demand, a senior official from the National Iranian Oil Company said. More»
Amwal Al Ghad English - 2016-09-03 15:18:28
Gold prices in Egypt edged higher by end of the week by five Egyptian pounds ($0.56) on Friday. The twenty-four carat gold was sold on Friday for 531.40 pounds; while the widely-spread in Egypt, twenty-one carat gold scored 465 pounds.  The 18 carat gold reached 398.55 pounds. Gold pound also rose by 40 pounds, to 3720 pounds on Friday triggered by increase in the prices of gold metal in global markets to record $1325 per ounce, Ehab Wasfy, a member at the gold department at the Federation of Egyptian Chambers of Commerce, told Amwal Al Ghad. The table below shows the recent data on local gold prices: More»
Amwal Al Ghad English - 2016-09-03 08:03:14
Oil settled up nearly 3 percent on Friday after a weak U.S. jobs report hurt the dollar and boosted commodities, but crude prices still ended the week sharply lower on concerns about oversupply. U.S. employment growth eased more than expected in August after two straight months of robust gains, the report showed. That initially led to doubts that the Federal Reserve would hike interest rates at its Sept. 20-21 meeting. The dollar, however, rose later in the day on bets that a September rate hike remained on the cards. [FRX/] Crude prices were also supported by a steadying U.S. oil rig count. After being unchanged last week, the oil rig count provided by industry firm Baker Hughes rose by just one this week as crude prices held below the key $50-a-barrel mark that analysts and drillers said made drilling more viable. [RIG/U] "Notwithstanding today's dollar-driven rally, September is usually a weak time for oil with demand coming off the peak summer period. So if the rig count stays steady, we could finish the year at about $50," said Jay Hatfield of New York-based InfraCap MLP EFT, which invests in U.S. energy projects. Brent crude futures LCOc1 settled up $1.38, or 3 percent, at $46.83 a barrel. For the week, Brent was down 6 percent, its biggest drop in five weeks. U.S. West Texas Intermediate futures CLc1 rose $1.28, also 3 percent, to settle at $44.44. WTI fell nearly 7 percent on the week, its largest decline in eight weeks. "It's quite likely oil will hold at mid-$40 levels," said Carl Larry Director, director of business development for oil & gas at Frost & Sullivan. "More telling of how oil performs will be the rig count in coming weeks and OPEC gestures to support prices." In early trading on Friday, oil rose after Russian President Vladimir Putin said in a Bloomberg interview that he supported attempts by the Organization of the Petroleum Exporting Countries to implement an output freeze with other oil producers. OPEC, led by Saudi Arabia and other big Middle East crude exporters, will meet non-member producers led by Russia at informal talks in Algeria from Sept. 26 to 28 to discuss an output freeze. If OPEC fails to strike a deal in Algeria, the cartel is expected to try other measures to support oil prices during its policy meeting in Vienna on Nov. 30. Many analysts remain skeptical that it would be successful. "The oil price will remain volatile over the coming weeks," said Hans van Cleef, senior oil economist at ABN Amro. More»