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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        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        Misr Chemical Industries   5.65        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        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 - 2015-04-09 09:34:18
Oil prices increased more than a percent on Thursday, clawing back part of the 6% fall in the previous session that was triggered by a shock jump in U.S. crude inventories and record Saudi output, although analysts said sentiment remained bearish. A 10.95 million-barrel surge in U.S. crude stockpiles to 482.4 million last week, the biggest gain in 14 years, and Saudi oil production of 10.3 million barrels a day in March had battered crude futures on Wednesday. "Total U.S. crude stocks continued to fly far above 5-year highs, setting new records every week," Societe Generale analysts said in a note. Cushing, the delivery point for West Texas Intermediate contracts, is now filled to 85 percent of its total working capacity of 70.1 million barrels, the bank said. Brent crude LCOc1 was up 73 cents at $56.28 a barrel by 2.48 a.m. EDT, while U.S. crude CLc1 rose 75 cents to $51.17 a barrel. Both benchmarks dropped around $3.50 on Wednesday. Oil prices recovered slightly on Thursday in an extension of the recent high market volatility that has seen frequent price reversals as speculators bet on when ballooning supply in the U.S. will start to ease. Close-to-close price volatility for Brent prices is at levels last seen during the height of the global financial crisis of 2008/2009, Reuters data shows. Overall sentiment remains bearish due to persistent high production and modest demand that has knocked oil prices down around 50 percent since June last year. "We are seeing little sign of economic acceleration ... and anticipate a meaningful decline in oil production is still a couple of months away," U.S. Bank Wealth Management said in a research note. The United States could add to global supply as it slowly eases a decades-old ban on crude exports. ConocoPhillips (COP.N) became the latest firm to receive U.S. government approval to export ultra-light domestic oil. The lifting of the U.S. export ban and a potential rise in Iran's supply would pressure oil prices in the second half of this year, Nomura's senior political analyst Alastair Newton said in a note. Iran and western powers may finalize a nuclear deal by end June which could lift sanctions on Iranian oil exports. A stronger greenback also contributed to oil's losses on Wednesday as the dollar-denominated commodity became more expensive to holders of other currencies. The dollar was buoyed after two influential officials with the Federal Reserve said the central bank could still hike interest rates in June despite weak recent U.S. data and investor scepticism, putting the spotlight squarely on the economy's performance in the next two months. More»
Amwal Al Ghad English - 2015-04-08 08:00:28
Oil prices fell more than a percent on Wednesday as industry data showed a larger-than-expected weekly increase in U.S. stockpiles and as Saudi Arabia reported record output in March. The decline in prices followed a rally on Tuesday, when U.S. crude approached 2015 highs following strong jobs data and government forecasts for lower U.S. crude production growth and higher global demand for oil. "We're going to need to see a very big uptick in demand to offset that supply," Ben Le Brun, analyst at OptionsXpress in Sydney said. "There is a glut of supply in oil at the moment." More»
Amwal Al Ghad English - 2015-04-07 07:08:56
The dollar held firm in Asia on Tuesday, having recovered almost all of its payroll-inspired losses while the Australian dollar jumped more than one percent after the Australian central bank refrained from cutting rates. The dollar index stood at 97.040 .DXY, recovering from Monday's low of 96.329, with the dent from surprisingly soft U.S. payroll data announced on Friday proving to be temporary. "The market is coming to think that you cannot downgrade your view on the U.S. jobs market just by looking at one soft number. Wages also weren't bad," said Kyosuke Suzuki, director of forex at Societe Generale in Tokyo. More»
Amwal Al Ghad English - 2015-04-07 07:03:47
Brent crude fell more than 1 percent on Tuesday, paring overnight gains of nearly 6 percent, after Goldman Sachs (GS.N) said prices needed to remain low for months to achieve a slowdown in U.S. output growth. Benchmark prices had surged on Monday as traders pushed back expectations of how quickly Iran might increase exports after a preliminary nuclear deal and judged that a months-long rise in U.S. crude inventories may be slowing. Brent May crude LCOc1 dropped 63 cents to $57.49 a barrel by 0453 GMT after hitting $58.24 in the previous session, its highest since March 27. More»
Amwal Al Ghad English - 2015-04-02 19:28:32
Gold futures on Thursday gave up some of the prior session’s sizable advance as a better-than-expected reading on jobless claims dented haven demand for the precious metal and other safety investments. June gold GCM5, -0.51% fell $7.30, or 0.6%, to settle $1,200.90 an ounce on Comex. Prices ended little changed from last Friday, when the April gold contract settled at $1,199.80. May silver SIK5, -1.93% shed 35.8 cents, or 2.1%, for the session to end at $16.701 an ounce, after jumping 2.8% a day earlier. It is down more than 2% from last Friday.Weekly jobless claims drop below expectations. Plus, three stocks to watch. Photo: Getty “With the major markets set to be shut when non-farms is released Friday, [Wednesday’s] ADP report took its place, helping drive short-covering in gold,” said Adrian Ash, head of research at BullionVault. “Only a real surprise in the official [non-farm payrolls] will see any swings at the start of Asian trade Sunday night.” On Wednesday, June gold reclaimed the $1,200 mark as a weaker dollar, tepid economic reports and a selloff in U.S. stocks SPX, +0.38% provided a boost. The dollar DXY, -0.68% weakened again on Thursday against its major rivals, but dollar-denominated gold still lost ground as data showed that U.S. weekly jobless claims fell to a postrecession low of 268,000. In other metals trading, May copper HGK5, -0.64% lost 1.5 cents, or 0.5%, to $2.734 a pound. July platinum PLN5, -0.75% fell $11.50, or 1%, to $1,154.50 an ounce, while June palladium PAM5, -0.01% lost $2.55, or 0.3% to $746.30 an ounce. Trading on Comex will remain closed on Friday for a U.S. holiday. Offering a bigger picture view on gold, Amaury Conti, director of research and strategy at Sendero Wealth Management, said that as the U.S. Federal Reserve “moves toward normalizing interest rates, any positive economic data in the U.S. will be supportive for a higher dollar,” and that will be a “long-term headwind for sustainable gains in gold prices.” On the other hand, “a policy error by any global central banks will generate some volatility, which could support gold prices in the short term,” he said. More»
Amwal Al Ghad English - 2015-04-02 19:24:43
Not surprisingly, oil prices took a pounding following word that Iran reached a preliminary agreement with six world powers over its nuclear programme. The Associated Press reported the two parties have “agreed on the outlines of an understanding that would open the path to a final phase of nuclear negotiations.” A news conference in Switzerland was held on Thursday around 1:30 p.m. Eastern Time to announce the deal, but June 30 remains the final deadline for a comprehensive deal to be reached. Iran’s Foreign Minister Javad Zarif tweeted that “solutions” were found and that the country is “ready to start drafting immediately.” Lifting sanctions on Iran could mean that the country is allowed to export oil, which could mean fresh supplies flowing into a market already swimming in too much oil. May crude oil CLK5, -1.94% was down $1.33, or 2.5%, at 48.91 a barrel on the New York Mercantile Exchange while May Brent crude prices LCOK5, -3.68% had been down more than 5% on the news. Brent was trading at $54.72 a barrel, most recently. Before the agreement, an analyst had said that Iran’s return to the oil market would be “long and arduous.” Analysts offered their thoughts shortly after news of an preliminary accord over Iran’s nuclear program on Thursday. Tyler Richey, analyst for the 7:00’s Report: “It appears the Iran talks have resulted in an agreement to disclose what has been accomplished thus far and that they will continue negotiating to work towards a final agreement on Iran’s nuclear program and economic sanctions with a deadline in June.” “The outcome was largely in line with market expectations that a ‘framework’ would be met to continue negotiating the specific details of the ultimate agreement which is why the market reaction is limited.” Colin Cieszynski, chief market strategist at CMC Markets: “An outline of an understanding is a good start anyway, but not a final deal. [The] news conference could send oil lower if it includes a clear timetable for when more sanctions are to come off and oil released into the market place. Otherwise, much of the reaction may already be in the market.” “Progress toward a deal could help to close the Brent -WTI spread.” Naeem Aslam, chief market analyst at AvaTrade: “The Iran nuclear deal is a massive blow for the oil price and we could see the crude-oil price falling to $30 very easily. This deal actually represents 1 million barrels a day of extra oil on the market so net effect on the supply equation will be nearly 2 million [barrels a day]. Now we will have serious trouble with the storage and the shares for such companies could inflate even higher.” More»
Amwal Al Ghad English - 2015-04-02 18:55:34
Oil prices closed lower Thursday after global powers negotiating a deal with Iran announced they had reached solutions on key parameters of the country's nuclear programme. U.S. crude futures closed down 95 cents, or 1.9 percent, at $49.14 a barrel, after touching $48.11 earlier. Brent futures were down 3.6 percent to $55 a barrel, after hitting a session low of $54 during the press conference. Framework measures, if implemented by Iran, would eventually result in the European Union and United States easing sanctions related to Iran's nuclear program. In an "international joint venture," Iran would cut its nuclear capacity while agreeing to monitoring and modernization of its facilities. A final deadline for the talks was set for June 30. Prices fell as much as 5 percent after the announcement, which capped more than week of talks in Lausanne, Switzerland between Iran and the United States, Britain, France, Germany, Russia and China. A nuclear pact for Tehran could remove Western sanctions on the OPEC nation's oil exports, bringing millions of additional Iranian crude barrels onto a market already brimming with supply. Oil prices were under pressure earlier after oil services firm Baker Hughes reported the number of rigs drilling for oil in the United States declined by 11 this week to 802, the smallest decline since December. The data, which was released a day earlier due to the Good Friday holiday, compares with declines of 12 and 41 rigs in the prior two weeks and is a sign the collapse in drilling over the past few month has reached its low point. After a precipitous drop since October, the U.S. oil rig count is nearing a pivotal level that experts say could begin to dent production, bolster prices and even coax oil companies back to the well pad in the coming months. Oil prices snapped a three-session losing streak on Wednesday after the U.S. Energy Information Administration said U.S. oil production dropped last week for the first time since late-December. Despite the data showing U.S. production falling, U.S. crude oil inventories climbed last week to a record high for the 12th straight week. The EIA said U.S. crude stocks rose 4.8 million barrels to 471.4 million barrels in the week to March 27. More»
Amwal Al Ghad English - 2015-04-02 07:59:05
Oil futures fell on Thursday, retreating from big gains in the previous session, as the prospect that any deal in nuclear talks with Tehran and a possible increase in its crude exports helped to keep pressure on prices. Major powers and Iran have stretched talks on Tehran's nuclear program into a second day past an end-March deadline, with diplomats saying the chances for a preliminary deal were balanced between success and collapse. Both Brent and U.S crude prices snapped three-session losing streaks on Wednesday, gaining $2 or more after data from the Energy Information Administration (EIA) showed a fall in rigs drilling for oil resulted in a drop in U.S. output last week for the first time since late-December. Brent crude for May delivery LCOc1 was down 46 cents at $56.64 a barrel by 3.06 a.m. ET. The contract had settled $1.99 higher on Wednesday. More»
Amwal Al Ghad English - 2015-04-01 07:43:25
Oil futures edged lower on Wednesday amid speculation that a last-minute deal over Iran's nuclear program would be reached that could allow more Iranian crude into world markets. Talks between Iran and six world powers to settle a dispute around Tehran's nuclear program extended beyond a Tuesday deadline, as the parties edged towards a deal but failed to agree on crucial details such as the lifting of U.N. sanctions.  China's foreign minister, Wang Yi, said on Wednesday there was "significant progress in core issues" in talks with Iran.  Russian Foreign Minister Sergei Lavrov said a general agreement had been reached over all key aspects of a future deal, TASS news agency quoted him as saying. A diplomat, speaking on condition of anonymity, later denied that an agreement had been reached. More»
Amwal Al Ghad English - 2015-03-31 18:43:06
Oil prices fell on Tuesday ahead of a nuclear pact that could release more Iranian crude into the oversupplied market, although prices backed off session lows as the clock ticked towards the talks' self-imposed deadline set for the end of the day with no word of a deal. U.S. crude closed down $1.08, or 2.2 percent, at $47.60 a barrel. Brent, meanwhile, was 90 cents lower at $55.30 a barrel. Six world powers, consisting of the United States, Britain, France, Germany, Russia and China, ramped up negotiations with Iran in Switzerland for outline deal on Tehran's nuclear program that would be integral to removing sanctions on its oil exports. Iranian oil exports have been limited to around 1 million barrels per day by the U.S.-led sanctions. Tehran could raise output by around 500,000 bpd within six months if the restrictions are removed, and by an additional 700,000 bpd within another year, according to estimates by Facts Global Energy. Oil prices have fallen around 7 percent since Thursday's close as fear Iran would achieve a pact with the world powers bringing more crude to a market already swollen with supplies. But with hours to go to the midnight deadline in Lausanne, Switzerland for the talks, the leaders of France and Germany said they did not want a deal where they could not be certain of stopping Iran from developing nuclear weapons. "I think the negotiators are playing with words, and the market is seeing through that," said Dominick Chirichella, senior partner at the Energy Management Institute in New York. "They were originally set to announce a framework agreement by March 31. Now, we expect them to say talks are going to continue to June but that they have a framework understanding. This means they have nothing." Brent was on a track to a 12-percent loss on the month and 4 percent for the quarter. U.S. crude showed a 3 percent loss for March and 10 percent for the first three months. Oil was also pressured earlier by a Reuters survey showing producer group OPEC's crude supply in March at the highest since October. U.S. commercial crude oil stocks were expected to have risen by 4.2 million barrels last week to a 12th week of record highs, a Reuters poll, ahead of data from the American Petroleum Institute. More»