ECB Draghi: Inflation to remain low; downside risks to eurozone diminished

  • 27/04/2017 12:38 PM
  • Ahmed Mamdouh
  • 54
  • 2
  • 2
  • 0

(Guardian) ECB President Mario Draghi begins by reading out the key points from today’s statement - namely that:-Interest rates remain unchanged.-The Governing Council continues to expect the key ECB interest rates to remain at present or lower levels for an extended period of time-The bond-buying stimulus programme is expected to run at €60bn per month until the end of December 2017, or bey...

See More

Japanese yen retreats as BOJ cuts inflation outlook

  • 27/04/2017 09:24 AM
  • Ahmed Mamdouh
  • 73
  • 2
  • 2
  • 0

The Japanese yen retreated against the U.S. dollar on Thursday after the Bank of Japan’s cut to inflation forecasts and the announcement of Trump’s new tax plan.The USDJPY traded higher at 111.32 after opening at 111.02, resuming its rise since hitting a bottom of 108.11 on April 17.The BOJ decided to hold their monetary stance while lowered inflation projections, thereby raising expectation...

See More

Oil pares losses after more than forecast drop in US crude inventories

  • 26/04/2017 14:27 PM
  • Ahmed Mamdouh
  • 72
  • 17
  • 17
  • 0

Oil pared earlier losses on Wednesday after the release of a report showing a drop in U.S. crude stockpiles last week.  The Energy Information Administration (EIA) report signaled a drop by 3.6 million barrels in U.S. crude inventories in the week ended April 21, following a 1.0 million-barrel decrease a week earlier.U.S. crude stocks were up by 897,000 million barrels last week, according t...

See More

Figure Out Reasons For Gold’s Retreat

  • 26/04/2017 11:57 AM
  • Ahmed Mamdouh
  • 87
  • 19
  • 18
  • 0

Gold traded lower for a third straight session on Tuesday, ahead of important speech by U.S. President Donald Trump, where he will announce new tax reforms.The precious metal traded at $1264.20 an ounce after finding support at $1261, as of 11:45 GMT. Several reasons could be behind the recent retreat in the yellow metal’s prices:-Ongoing optimist after the first round of French elections, as...

See More

World stocks resume rally on continuing relief from French elections

  • 25/04/2017 08:32 AM
  • Ahmed Mamdouh
  • 107
  • 31
  • 31
  • 0

Stock markets worldwide continued to trade in green zones, hitting a new record high on Tuesday, on continuing relief from French Presidential elections amid predications Emmanuel Macron will win Presidency. The MSCI World Index – a broad gauge of global equity market- resumed its advance for a second straight session, reporting an all-time high. Meanwhile, investors predict that Macron wil...

See More

What happened to the euro, stocks after French vote?

  • 24/04/2017 13:06 PM
  • Ahmed Mamdouh
  • 96
  • 24
  • 24
  • 0

The euro rallied against the U.S. dollar and other major currencies, while French stocks climbed to the highest level in nine years after the first round of vote in French Presidential elections. The euro hit a five-month high of 1.0916 versus the U.S. dollar, the highest level since mid-November, before retreating to 1.0861, noting that it touched a session’s low of 1.0819. As of 13:03 GMT,...

See More

Europe Stocks Steady Before Sunday First-Round Vote in France

  • 21/04/2017 11:25 AM
  • Ahmed Mamdouh
  • 132
  • 23
  • 23
  • 0

(Bloomberg) European shares were little changed, while France’s stock market dropped, in the final trading session before the nation’s presidential election on Sunday.The Stoxx Europe 600 Index was steady at 378.08 at 11:40 a.m. in London. France’s CAC 40 Index fell 0.5 percent, trimming an earlier drop of as much as 1 percent. The latest Opinionway poll showed support for independent candida...

See More

Oil pares advance despite drop in US crude inventories

  • 19/04/2017 14:32 PM
  • Ahmed Mamdouh
  • 136
  • 21
  • 21
  • 0

Oil pared its earlier gains on Wednesday despite the release of a report showing a drop in U.S. crude stockpiles last week.  The Energy Information Administration (EIA) report signaled a drop by 1.0 million barrels in U.S. crude inventories in the week ended April 14, following a 2.2 million-barrel decrease a week earlier.U.S. crude stocks were down 4.5 million barrels last week, according t...

See More

Pound pares losses after May’s general elections announcement

  • 18/04/2017 10:34 AM
  • Ahmed Mamdouh
  • 119
  • 13
  • 14
  • 0

The British pound pared its earlier losses against the U.S. dollar after U.K. Prime Minister Theresa May announced general elections on June 8. “I have just chaired a meeting of the Cabinet, where we agreed that the Government should call a general election, to be held on June 8,” May said in a statement in Downing Street. “I want to explain the reasons for that decision, what will happen ne...

See More

Gold heads for best week since June on Korea, MidEast jitters

  • 14/04/2017 11:17 AM
  • Ahmed Mamdouh
  • 90
  • 13
  • 13
  • 0

(Reuters) - Gold stayed on track for its strongest week since June on Friday, with prices close to the previous days's five-month peak, as concerns over North Korea and the Middle East hit the dollar and sent investors scurrying for the safety of bullion.The world's biggest gold-backed exchange-traded fund, New York-listed SPDR Gold Shares, said its holdings rose more than six tonnes on Thur...

See More

Draghi Draws Line Under ECB Rate Debate and Warns on Prices

  • 06/04/2017 10:48 AM
  • Ahmed Mamdouh
  • 210
  • 17
  • 17
  • 0

(Bloomberg) Mario Draghi sought to quash the idea that the European Central Bank will begin tightening policy sooner than planned, saying that inflation in the euro area isn’t strong enough for officials to start signaling such a shift.“I do not see cause to deviate from the indications we have been consistently providing in the introductory statement to our press conferences,” the ECB Presi...

See More

Oil hits one-month high near $55 on tighter supplies

  • 05/04/2017 11:00 AM
  • Ahmed Mamdouh
  • 134
  • 12
  • 12
  • 0

(Reuters) Oil hit a one-month high near $55 a barrel on Wednesday as a fall in U.S. crude inventories raised hopes OPEC-led supply cuts were clearing a glut, while an outage at the largest UK North Sea oilfield lent support. U.S. crude inventories fell by a more-than-expected 1.8 million barrels last week, American Petroleum Institute data showed on Tuesday. The focus is now on whether the...

See More

Manufacturing in U.S. Kept Expanding at Robust Pace in March

  • 03/04/2017 14:16 PM
  • Ahmed Mamdouh
  • 93
  • 11
  • 10
  • 0

(Bloomberg) America’s factories continued to expand in March at a robust pace, demonstrating momentum in an industry that struggled for the better part of the last two years, Institute for Supply Management data showed Monday.Key PointsISM’s diffusion index eased to 57.2 (matching median forecast) from February’s 57.7, which was the highest since August 2014; readings above 50 indicate growthMeasu...

See More

Stocks close mixed but post strong quarterly gains; Nasdaq records best quarter since 2013

  • 31/03/2017 20:26 PM
  • Ahmed Mamdouh
  • 237
  • 3
  • 2
  • 0

(CNBC) U.S. equities closed mixed on Friday — the last day of the first quarter and of the month — as investors digested a slew of economic data. The Dow Jones industrial average fell about 65 points, with Goldman Sachs and Exxon Mobil contributing the most losses. The S&P 500 slipped 0.23 percent, with financials lagging. The Nasdaq composite closed just below breakeven. The three major...

See More

US fourth-quarter growth rate revised up

  • 30/03/2017 12:56 PM
  • Ahmed Mamdouh
  • 112
  • 10
  • 10
  • 0

(BBC) The US economy grew faster than initially estimated in the final months of 2016, according to the latest official figures.The economy grew at an annualised pace of 2.1% in the fourth quarter of the year, the Commerce Department said, up from an earlier estimate of 1.9%.However, the revision did not alter the growth rate for the whole of 2016, which remained at 1.6%.Last year's growth...

See More

Asian shares drop on political woes, dollar strengthens

  • 29/03/2017 12:15 PM
  • Ahmed Mamdouh
  • 150
  • 9
  • 9
  • 0

Asian shares tracked losses in Europe and United States overnight amid political woes and after the release of worrying report from China signaling a drop in foreign reserves for a seventh straight month. Political worries escalated as France’s far-right National Front Leader Marine Le Pen pledged at his presidential campaign to make France exit the European Union.Investors are also worries a...

See More

European Stocks Slide Toward Weekly Drop as Risk Aversion Reigns

  • 24/03/2017 09:37 AM
  • Ahmed Mamdouh
  • 104
  • 9
  • 9
  • 0

(Bloomberg) European stocks fell for the third time in four days, moving further away from a 15-month high they reached just a week ago. The Stoxx Europe 600 Index lost 0.2 percent at 8:22 a.m. in London. Most industry groups declined, with insurance companies and energy shares falling the most. The regional benchmark is down 0.5 percent this week as investors question the extent to which U.S. Pre...

See More

Oil hits four-month lows after more than forecast rise in crude inventories

  • 22/03/2017 13:07 PM
  • Ahmed Mamdouh
  • 76
  • 8
  • 8
  • 0

Oil traded near the lowest level in nearly four months on Wednesday after the release of a report showing a more than forecast rise U.S. crude stockpiles last week. The Energy Information Administration (EIA) report signaled a rise by 5.0 million barrels in U.S. crude inventories in the week ended March 17, following a 0.2 million-barrel decrease a week earlier. U.S. crude stocks were up 4.5 milli...

See More

Dollar hits four-month low vs yen on 'Trumpflation trade' rethink

  • 22/03/2017 09:17 AM
  • Ahmed Mamdouh
  • 63
  • 8
  • 8
  • 0

(Reuters) The dollar hit a four-month low against the safe-haven yen on Wednesday as a risk-off mood grew in markets rethinking the “Trumpflation trade” that had pushed the greenback to a 14-year peak and stocks to record highs. Wall Street fell by the most since before Donald Trump’s election on Tuesday as investors worried the U.S. president will struggle to deliver his promise...

See More

European markets edge lower; Article 50 date confirmed; Hugo Boss down 4%

  • 20/03/2017 10:36 AM
  • Ahmed Mamdouh
  • 47
  • 7
  • 7
  • 0

(CNBC) European markets were lower during lunchtime trade on Monday as investors focused on the potential impact that trade barriers could have on global growth. The pan-European STOXX 600 slipped 0.15 percent with most sectors and major bourses in negative territory. Oil and gas stocks led the losses on Monday midday as oil prices moved lower after increased pressure on the commodity from U.S. dr...

See More