S&P 500 FINANCIALS

U.S. Stock Indexes Closed at Record High

Financial stocks, which have helped lead the post election rise, pushed even higher during the week. Bank shares globally have benefited in recent weeks in anticipation of a wider difference between short and long-dated government bonds, higher growth and a regulation rollback in the U.S. The financial sector in the S&P 500 was the best performer for the week, up 4.8%. The sector is up 19% since the election. Goldman Sachs Group was the biggest weekly contributor to the Dow

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Dollar Index

is the second rate hike coming?

The Fed will most probably increase the Fed funds target range by 25 basis points at its meeting next week. The financial markets should quickly tick this off and turn to the medium-term outlook. Fiscal policy will play a major role in determining the scale and pace of further rate moves the analyst noted and added that the economic policy of the future Trump administration carries much uncertainty but increasing scope for rate hikes is gradually emerging. “Even the doves

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U.S Indexes Continue to Rise

U.S. stocks rose to fresh highs Thursday, extending gains after their best day since the presidential election. Investors have been buying stocks and selling bonds, betting that the Trump administration will usher in tax cuts, deregulation and fiscal stimulus, which they believe will support growth and inflation in the world’s largest economy. The Dow Jones Industrial Average gained 65 points, or 0.3%, at 19615, after it added nearly 300 points Wednesday. The S&P 500 rose 0.2% and the Nasdaq Composite

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HSI

Asia Currencies Hit by ECB Easing, but Stocks Mostly Gain

Asian currencies were hit Friday by a perceived policy easing by the European Central Bank, even as the stock-market reaction was mostly positive. Japan’s Nikkei was up 1.2%, Australia’s S&P/ASX 200 gained 0.3% and Taiwan’s Taiex was up 0.1%. The ECB said Thursday it would extend its bond-purchase program by nine months to the end of 2017, but cut its monthly purchases to € billion ($64 billion) from € billion, as of April. The ECB action combined tightening and loosening

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cac40

France to Stumble on Deficit Pledge

The Bank of France cut its French growth forecasts Friday and said the country’s government will fail to meet its deficit reduction pledge next year without extra spending cuts. The central bank’s gloomier forecasts will weigh on the upcoming presidential elections as candidates spar over how to cut spending and taxes without hurting the slow economic recovery and weak job market. The Socialist government of Francois Hollande says it is on track to bring the deficit below the European limit

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usdwon

South Korean Won Down 0.5% Against Dollar

The U.S. dollar gains 0.5% against the won at 1166.72 ahead of South Korean lawmakers’ vote on an impeachment motion against President Park Geun-hye over an alleged influence-peddling scandal. If Ms. Park is impeached, the country’s prime minister will act as president. However, traders in Asia say they believe hedge funds and other trades on nondeliverable futures are driving movement of the currency. The Korean economy’s relative stability is seen in the market as unlikely to be affected by the

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All Eyes On Detail Of ECB Announcement

While investors are focused on whether the European Central Bank will extend its bond-buying today, details around the implementation of its program are also important. A below-consensus extension of three months to the asset purchase program alongside rule changes that should allow greater purchases of southern European bonds. That balance should help avoid the kind of market turmoil that followed last December’s meeting, when the euro jumped and stocks tumbled after a smaller-than-expected stimulus package was announced. “the market is

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Rice price (paddy) in egypt hit a new high of 4200 pounds per ton ,

Prices of rice , hit a new high up to 4200 pounds of rice broad bean compared to B4000 pounds. Amr Rifai said the director of the mobilization of rice company, said there is a shortage in the supply of paddy due to the continued storage campaigns by rice monopolized. He added that the price of white rice in the market has become higher than the rates, which reportedly put in the tender ranged between 5,700 and 7 thousand ton packaged.

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USDEGP

Annual inflation in Egypt cities jumps to 19.4% in November.

Central Agency for Public Mobilization and Statistics data showed on Thursday, the rise of the annual inflation rate in the cities of Egypt to 19.4 percent in November from 13.6 percent in October. Egypt has been approved to rely too heavily on imports has surprised the market on the third of November, abandoning pegging the pound to the US dollar exchange rate. Egypt suffered in recent years of economic decline amid worsening budget deficit, rising inflation and declining production companies

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Norway Manufacturing Hit by Falling Petroleum Investments

Norwegian manufacturing output rose 0.2% on the month in October, but over the past three months has contracted 3.2% as petroleum-related manufacturing remains the main contributor to the decline. “Ships, boats and oil platforms have declined the most, by 12%. But also other oil-related industries saw significant production declines over this time period.” Handelsbanken expects the manufacturing output downward trend to continue, as investment activity on the Continental Shelf declines. The bank adds that the latest investment survey points to

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usdjpy

Yen Is More Sensitive to U.S. Yields Than Other Currencies

The Japanese yen is the most sensitive currency among developed economies outside the U.S. to movements in the U.S. 10-year Treasury yield, . USD/JPY range of 114-126 is consistent with existing U.S.-Japan interest rate differentials, a factor that makes an uptick in the pair toward 120 more realistic. this is based on the assumption that the U.S. economy is strong enough to tolerate higher yields.  Investors need to carefully consider if factors that have created the rate gap to date

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SNB FX Reserves Jump, Suggest Intervention in CHF

The Swiss National Bank’s foreign currency reserves jumped in November, suggesting the SNB intervened in the weeks after Donald Trump’s election to cap the franc’s strength. Foreign reserves were CHF648 billion ($642 billion) last month, up nearly 18 billion francs from October. The euro traded at 1.0818 francs early Wednesday, down slightly from Tuesday.

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US10Y YIELD

US Bond Rout Eases

The bond rout revolving around the Trump trade is easing for now, halting the 10-year yield’s attempt to pierce above the 2.5% mark. After hitting a 17-month high of 2.492% Thursday, the yield has pulled back some (currently sitting at 2.391% versus 2.387% yesterday). After roaring more than a full point from July’s record low, analysts say yields are likely entering into a consolidation phrase and potentially could fall as some short bets may be pared into year-end. This as

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Usd/Jpy

Dollar Flat After Wild Gyrations

The dollar was almost flat against its rival currencies in directionless trade in Asia on Tuesday, after the euro-driven wild gyrations overnight. Around 0450 GMT, the dollar slightly weakened to Y113.78 from Y113.84 late Monday in New York. The WSJ Dollar Index, a measure of the U.S. dollar against a basket of major currencies, was up 0.02% at 91.01. The euro hit a 21-month low against the dollar after Italians rejected constitutional overhauls in Sunday’s referendum, but subsequently staged a

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nzd/usd

New Zealand Dollar Up Late, Recovers Losses on PM’s Shock Exit

The New Zealand dollar bounced back Tuesday following the shock resignation of the country’s prime minister the previous day. At 0411 GMT, the Kiwi dollar was trading at US$0.7146, roughly where it began local trading for the week Monday before John Key announced his plan to step down as leader of the ruling conservatives. On Tuesday, Deputy Prime Minister Bill English, who was endorsed by Mr. Key, said he would seek the top job at a meeting of the ruling

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Aud/Usd

Australian Dollar Up Late, Central Bank Keeps Rates Unchanged

The Australian dollar was trading higher late Tuesday after the country’s central bank left interest rates unchanged at a record-low 1.5%. At 0449 GMT, the Australian dollar was trading at US$0.7460, compared with US$0.7435 at a similar time on Monday. The rate decision was widely expected by markets and the accompanying statement gave traders little new information to go on. Reserve Bank of Australia Gov. Philip Lowe repeated recent comments that the level of rates will see inflation, currently below

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eurusd

Euro Recovers Losses After Italy’s ‘No’ Vote

The euro rallied from early losses, following Italian voters’ rejection of a government-backed referendum, but the volatile day raises concerns about how the currency survives an era of populist politicians and diverging economies. The euro was trading near $1.08 Monday, up about 1% against the dollar. Overnight, it had been down as much as 1%. The referendum’s failure meant the resignation of Italian Prime Minister Matteo Renzi. Mr. Renzi’s antagonists, the antiestablishment 5 Star Movement, have questioned the common currency

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Investors Brush Off Italy Referendum Result

Stocks pushed higher Monday while the euro recovered from early losses as investors largely brushed off Italian voters’ rejection of constitutional reform. The Dow Jones Industrial Average added 79 points, or 0.4%, to 19249 shortly after the opening bell. The S&P 500 gained 0.4%, and the Nasdaq Composite rose 0.5%. The Stoxx Europe 600 climbed 0.7%, despite steep losses in the Italian banking sector. Despite the generally positive tone in markets, Italian banks were badly hit on concerns that a

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stoxx 600

European Stocks Rise, Euro Recovers Some Ground After Italian Vote

European stocks advanced while the euro recovered from early losses Monday, as investors shrugged off Italian voters’ rejection of a constitutional referendum. The Stoxx Europe 600 rose 1.3% midmorning with every sector in positive territory, while Italy’s FTSE MIB index reversed early losses to advance 1.2%. Futures pointed to a 0.4% opening gain for the S&P 500. Investors had widely anticipated the result of Sunday’s referendum and subsequent resignation of Prime Minister Matteo Renzi, and consequently sold Italian equities, bonds

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Europe Reacts Nervously to Italy Prime Minister Matteo Renzi’s Resignation.

European politicians reacted to Italians’ rejection of proposed constitutional changes and the resignation announcement of Prime Minister Matteo Renzi with a mixture of anxiety and satisfaction–depending on their vantage points. The first official reaction came from the U.S., where the White House sought to play down its significance. It said the vote was a part of “a broad national conversation” about the reforms needed to improve the way Italy governed and to boost growth and foreign investment. “This vote was

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usdrub

Russia PMI Growth Hits Four-Month High at 54.7

Russia’s services sector activity improved in November as the pace of job-shedding slowed, a Markit survey of purchasing managers showed Monday. The headline Purchasing Managers’ Index for the services sector rose to 54.7 from 52.7 in October. This was the biggest increase since July and above the 50 level that separates growth from contraction. “Russian service providers experienced faster business activity growth during November, yet this again fell short of the high standards set by the manufacturing sector,” . While

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WTI

OPEC Deal Spurs Biggest Oil Rally

While OPEC proved on Wednesday that it can still effectively control the global energy market, it doesn’t hold all the cards. The end of ultra-cheap prices is expected to lure American shale producers back to the market. The US shale boom, which began in Texas in 2005, made the world’s largest economy the world’s biggest energy producer. That capacity still exists, and is likely to re-emerge next year as oil prices continue to stabilize. Therefore, the oil market’s long-term outlook

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EURUSD

EUR/USD WEEKLY OUTLOOK

There is some potential for a gap in EUR/USD at the week open as the Italian referendum will be held today to determine if Italy will streamline the process to pass legislation. The vote would normally not be considered a high-risk event for the financial markets but Prime Minister Matteo Renzi has exacerbated the risk by threatening to resign if the vote does not go his way. With ongoing concerns over Italy’s banking sector, political turmoil would create doubt as

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NZDUSD

NZD/USD Weekly Outlook

The upcoming week remains relatively neutral in terms of economic events pertaining to the pair. The latest Global Dairy Trade (GDT) auction report will be released on Tuesday and stands to introduce volatility to the pair. A gain of 4.5% was reported in the prior reading. On Monday, ISM non-manufacturing PMI data out of the United States is considered high impact data for the Dollar pairs. During the past week, NZD/USD tested the lower line of a rising channel that

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Brent

OPEC to meet non-OPEC producers on December 10 in Vienna

OPEC will meet non-OPEC countries to finalize a global oil limiting pact on December 10 in Vienna. Two OPEC sources earlier said the meeting was due to take place in the Russian capital Moscow, but later said that plan had changed. OPEC agreed this week to reduce output by around 1.2 million barrels per day (bpd) beginning in January in a bid to reduce global oversupply and prop up prices. It hopes non-OPEC countries will contribute another 600,000 bpd to

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Gold future

Gold price closes higher on Friday

Gold prices fluctuated Friday morning, gaining and and losing nine dollars an ounce during morning trading, as investors dissected the latest U.S. economic indicators. The precious metal settled at 1179.20, or up 9.8, Friday. The price of gold for delivery in February was at one point this morning up 0.7% at $1,177.70 a troy ounce, but also dropped as low as $1,168.40 per troy ounce. The U.S. unemployment rate dropped to 4.6%, its lowest level in nearly a decade, while

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xauusd

China Gold Premium Hits Three-Year High of $30/oz

Chinese gold buyers are paying a premium of $30 per troy ounce more than international rates for quick delivery as fears grow that Beijing will limit gold imports to curb yuan outflows. Gold is currently trading $2.95 higher at $1,174.55 per troy ounce internationally. The premium on gold for fast delivery in China is now at a three-year high, as Beijing’s recent moves to protect shrinking foreign exchange reserves have sparked rumors that it will try to curb gold imports.

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AUDUSD

Australian Dollar Awaits U.S. Payrolls

The Australian dollar was little changed in Asia ahead of the U.S. jobs data. At 0500 GMT, the Australian dollar was trading at US$0.7414, compared with US$0.7401 at the same time Thursday. The U.S. government will offer a snapshot of the U.S. labor market, the final such report before Federal Reserve officials meet Dec. 13-14 to decide on the next step for interest rates. The U.S. Federal Reserve is widely expected to raise its benchmark rate for the first time

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NIKKEI225 FUTURE

Asia Shares Drop as Trump Effect Fades

Asian shares were broadly lower Friday, tracking losses on Wall Street, as equity markets indicate the ‘Trump trade’ could be overdone. The Nikkei Stock Average was down 0.5%, after closing at a record high in the previous session. The S&P/ASX 200 was off 0.7%, the Hang Seng Index in Hong Kong fell 0.8% and Korea’s Kospi was 0.7% lower. “Globally, the Trump rally is starting to wane and that sentiment is bleeding over into other markets,”. Investors have been betting

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DJ CHINA OFFSHORE 50

China Escalates Efforts to Cool Down Financial System

China’s central bank has stepped up efforts to drain cash from the country’s financial system in the past week, as it seeks to curb excessive borrowing and tame frothy markets. The cost for banks to borrow from each other, measured by the so-called seven-day repo rate, rose to 3.49% this week–a 19-month high–from 2.92% on Monday. The surge followed the People’s Bank of China’s withdrawal of a net 130 billion yuan ($18.85 billion) from China’s money markets over the four

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EUR/USD

EUR/USD Up Ahead of U.S. Jobs Data, Italian Vote

The EUR/USD is up modestly ahead of important U.S. jobs data, recovering from the recent sharp falls following the election of Donald Trump as the new U.S. president that has raised the speculation for Federal Reserve’s faster rate increases. The pair has also suffered from concerns about political instability in Italy. On Sunday, Italians go to vote on a constitutional change, proposed by Prime Minister Matteo Renzi. “Few are still willing to make bets.” The EUR/USD is at 1.0662 late

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DJ

U.S. Dollar Retreats Ahead of November Jobs Report

On Thursday, gains in blue chip stocks brought the Dow Jones Industrial Average to a fresh record high, while sharp losses in technology shares weighed down the Nasdaq. The DJIA advanced 68 points (+0.4%) to 19,191, while the S&P 500 declined 7 points (-0.4%) to 2,191 and the Nasdaq Composite shed 72 points (-1.4%) to 5,251. Bank and financial shares posted gains, and energy shares were helped by oil prices’ extended rally. Semiconductor makers fell sharply on reports that Apple

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tasi

Saudi bourse show the best monthly performance since the end of November 2009

Saudi bourse (TASI Index)has been  rising since the beginning of last October, ending the monthly at + 6.9% , recording an increase of 6012.2 points , after adding 388 points , compared with the previous month. The market value traded in the Saudi market in October 1 trillion and 420 billion Saudi riyals or the equivalent of $ 378.71 billion, while turnover amounted to the same month 65.66 billion riyals , or the equivalent of 17.51 billion shares. Saudi shares

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Gold and a hard landing of the dollar support data

Gold, strong drop wave during trading yesterday, with the support of many of the US data, which helped significantly higher on the US dollar versus a basket of currencies,  gold prices fell strongly in contrast to trading now at 1170.49 levels, it is expected to decline targeting continued closure the bottom support level 1168.41 On the Weekly timeframe , the close below the key support at 1164.41 will point to further drop to target the next support level 1140.80. in case

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DOLLAR INDEX

U.S. GDP Growth Revised Up

U.S. economic growth last quarter was stronger than initially thought and corporate profits rose, signs of continued health in the world’s largest economy. Gross domestic product, a broad measure of the goods and services produced across the economy, expanded at an inflation- and seasonally adjusted annual rate of 3.2% in the third quarter, the strongest growth in two years, the Commerce Department said Tuesday. Economists surveyed by The Wall Street Journal expected growth would be revised up to a 3.0%

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BRENT

USD/JPY 111.50 – 113.50 RANGE AHEAD OF OPEC MEETING

The dollar was higher against the yen and the euro in Asian trade on Wednesday, as traders took a wait-and-see approach ahead of a closely-watched OPEC meeting later in the day. Around 0455 GMT, the U.S. currency was at Y112.72, compared with Y111.92 late Monday in New York. The WSJ Dollar Index, a measure of the U.S. dollar against a basket of major currencies, was up 0.14% at 91.48. The euro was at $1.0632 from $1.0650 late Tuesday. The greenback

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Asian Shares Down on Caution Over Italy’s Referendum

Caution over Italy’s impending referendum and uncertainty over oil weighed on stocks in Asia on Tuesday, with investors booking modest profits to hold cash. Japan’s Nikkei Stock Average was a major decliner among key Asian markets, ending down 0.3% and adding to Monday’s 0.1% loss, with Tuesday’s decline led by financial and electronics stocks. The upward momentum for U.S. Treasury yields and the dollar against the yen following the U.S. election has eased in recent sessions, fueling more profit-taking pressure

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Japanese government bonds

Yield Of 10-Year JGBs Falls To 0.017% Amid Risk-Off Mood

Japanese government bonds remain higher in mid-afternoon Asia trade, pulling down the benchmark 10-year JGB yield to 0.010% around 0535 GMT from 0.030% Friday. Worsening market sentiment–the Nikkei has fallen 0.3% on weaker oil prices, and the yen has strengthened–has prompted buying of relatively safe government debt. With the yen strengthening from two-week streak of weakness, “the uptick in long-term rates is taking a breather,”. It is not a surprise to see the 10-year JGBs yielding back in the negative

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Felda Global Ventures Holdings

Felda Global Ventures Down, Underperform Benchmark

Felda Global Ventures Down, Underperform Benchmark Shares of Malaysia’s Felda Global Ventures Holdings Monday morning fall 5.8% to 1.47 ringgit ($0.33) a share, underperforming a relatively flat benchmark stock index. Earlier this month, Felda Global said in a local stock-exchange filing that it had detected “some unusual stock losses” in Felda Iffco Gida Sanayi in Turkey, a subsidiary of Felda Iffco Sdn. Bhd., a 50-50 joint venture between Felda Global and Dubai-based Iffco International. In the filing, made in response

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USDMXN

Dollar Falls in Quiet Trading

The dollar fell broadly Friday as investors took profits on a powerful rally that has driven the U.S. currency to 14-year-highs this week. The WSJ Dollar Index, which measures the U.S. currency against 16 others, fell 0.2% to 91.80. Analysts noted trading was quiet due to the Thanksgiving holiday Thursday and shortened trading sessions Friday for the U.S. government bond and stock markets.   The dollar soared to its highest level since 2002 this week as investors grow more confident

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Nikkei Hits Fresh 10-Month High on Weaker Yen

The Nikkei Stock Average, at one point up as much as 0.8%, finished with a 0.3% gain as profit-taking set in. That brought its November gain to 5.5%, best of Asia’s benchmarks. Australia’s S&P/ASX 200 closed up 0.4% and Singapore’s Straits Times Index added 0.8% while the Shanghai Composite Index was up 0.6%. The dollar rose further against the yen, though the U.S. Thanksgiving holiday subdued volume. Expectations of higher inflation in the U.S. under a Donald Trump administration are

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KOSPI COMPOSITE

U.S. Record U.S. Indexes Feast on Another Record

Expectations for stronger U.S. economic growth and higher inflation had sent the Dow Jones Industrial Average, the S&P 500 and the Russell 2000 to fresh highs on Wednesday, while the 10-year Treasury yield settled at its highest since July 2015. On Thursday, U.S. markets were closed for Thanksgiving, while European stocks inched up following a mixed session in Asia. The WSJ Dollar Index was little changed after touching a 14-year high. Investors have been piling into the dollar and U.S.

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USDEGP

Egyptian Pound Lower Late Thursday Against USD

The Egyptian Pound traded lower against its U.S. counterpart late Thursday as the U.S. dollar held on to the gains after soaring to a 14-year high against a basket of major currencies in the overnight trade, bolstered by an upbeat set of U.S. data and weakness in the Chinese yuan. The U.S. dollar was quoted at 17.5500 Egyptian pound near the end of the Asian trading day. The WSJ Dollar Index, which measures the U.S. currency against 16 others, was up 0.06%

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Malaysia’s central bank leaves interest rates unchanged.

Malaysia’s central bank leaves interest rates unchanged Wednesday, as expected, following a slide in the ringgit in the aftermath of Donald Trump’s U.S. election victory. “The degree of monetary accommodativeness is consistent with the policy stance to ensure that the domestic economy continues on a steady growth path,” Bank Negara Malaysia says in a press statement. The decision to hold the overnight policy rate at 3.00% matched market expectations, given concerns over a surge in capital outflows that has battered

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CT Environmental Group

Glaucus Targets HK-Listed CT Environmental

Glaucus Research has put out a report on the Hong Kong-listed CT Environmental Group. As is typical for the short-selling specialist, which typically shorts stocks prior to publishing highly negative views, the Glaucus report on CT Environmental is scathing. It says that CT Environmental, a Chinese water-treatment company, “is materially misrepresenting” its financials and that it has dealings with companies “secretly connected” to its own chairman. Glaucus projects 82% downside to CT Environmental’s current share price. Sasha Zhang, head of

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Felda Global Ventures Holdings

Malaysia’s Felda Global Extends Fall After Poor 3Q Earnings

Shares in Malaysia’s Felda Global Ventures Holdings extend its decline after the world’s third-largest palm plantation operator says it expects to record a loss for this year after posting weaker-than-expected earnings for the third quarter. Shares of the company decline 7.9% to 1.74 ringgit per share, underperforming the local benchmark stock index’s 0.2% rise. It was 2.7% lower before the company announced its results. Felda Global told the local stock exchange Tuesday that its net loss for July-September widened to

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StarHub

StarHub Rebounds as Price Drop Makes Valuations Attractive

StarHub rebounds on Tuesday to gain as much as 1.1% as the recent price decline in its shares may have made them attractive. The Singapore-listed telecom operator rises to as high as S$2.82 on Tuesday, after touching a four-year intraday low of SGD2.73 on Monday. Selling was triggered largely due to the possibility of a fourth operator, which may be officially introduced before the year’s end. StarHub, along with its local rivals M1 and Singapore Telecommunications, will likely lose customers

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Stronger Dollar Puts the Yuan In a Tailspin

 2:41:03 AM  The Chinese yuan is on track for its worst monthly performance in more than a year in November, as the surging U.S. dollar continues to force the currency to weaken. China’s central bank on Monday set the yuan lower against the U.S. dollar for a 12th consecutive day in its daily fix, at 6.8985 against the dollar, a fresh eight-year low for the currency. The yuan has weakened 1.7% against the dollar so far this month, with gains

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tocom rubber

Tokyo Rubber Futures End Higher on Yuan, Yen Weakness

Benchmark Tokyo rubber future prices rally Monday thanks to weaker currency moves that buoyed the mood of the market. “Tokyo rubber rose as the Chinese yuan and Japanese yen fell against the U.S. dollar,”. Encouraging economic news from Japan’s Ministry of Finance has also boosted Tokyo-traded shares, creating spillover positivity for rubber. The Nikkei Stock Average closes up 0.8% at 18106.02–its highest level since January 6. Japan energy stocks have also risen on expectations that a deal to trim crude-oil

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USD/CAD

Drop in Food Prices Softens Canada CPI Rise in October

Canada’s annual inflation rate advanced in October on higher transportation and shelter costs, while the core rate rose at its slowest pace in over two years. Food prices posted their first annual decline since 2000, on lower costs to purchase fresh fruit and vegetables. Unlike in the U.S., inflation expectations in Canada remain tepid as the resource-reliant economy struggles to build momentum amid lower commodity prices and a disappointing performance in non-energy exports. Market watchers say the Bank of Canada

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BRENT

Oil could rise to $ 55

Iranian Oil Minister Bijan Zanganeh on Saturday expressed optimism about the future meeting of OPEC said that crude prices could rise to $ 55 a barrel if an agreement is reached and the cooperation of producers outside OPEC. Zanganeh told state television by telephone after meeting with OPEC Secretary-General Mohammed Barkindo in Tehran before the WTO meeting scheduled for November 30 in November “We are receiving positive signals .. and I am optimistic about the situation. “I think we can

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Eur/Usd

Dollar gains against euro on expectations for Dec. Fed rate hike,

Dollar gains against euro on expectations for Dec. Fed rate hike. Oil gains 5 pct on the week on OPEC hopes. Gold slides to 5-1/2-month low. DXY charges to 13-yr high, bond tantrum in full swing US bond yields set for biggest 2-wk rise in 13 years. Fed’s Dudley: Markets seem to expect more stimulus, more rate hikes; but remains unclear for Fed. Fed’s Dudley: Economy growing above trend, should be optimistic about reaching inflation goal over next few years.

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USDMYR

Bank Negara Malaysia ‘Stepped In’ to Defend Ringgit

Malaysia’s central bank entered markets in the past week to defend the ringgit after the local currency weakened more than 4% against the U.S. dollar, following Donald Trump’s victory in the U.S. presidential election, its assistant governor said Friday.   Investors have been dumping assets held in emerging markets world-wide, as the response to Mr. Trump’s election has upended the direction of capital flows. His emphasis on infrastructure spending and tax cuts has sparked a strengthening of the U.S. dollar,

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USDBRL

Brazil’s central bank President Ilan Goldfajn will talk

Brazil’s central bank President Ilan Goldfajn will talk to foreign press at 8:30am ET. His job has become a lot harder since the Trump election, as markets punished the Brazilian real on fears that potential protectionism could hamper Brazil’s recovery and slow down an easing rate cycle that started last month. The concerns weakened optimism that economic reform could take Latin America’s largest economy out of its deepest recession since the Great Depression. The ripple effects from the US election

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UAE markets suffer weak liquidity

UAE stock markets have been suffering a liquidity drop due to the absence of institutional investments and the dominating speculative mood, according to analysts. The blue-chip stocks saw an increasing selling wave during yesterday’s session after MSCI reviewed a number of UAE stocks. Despite the recovery of oil prices, GCC traders, portfolios in particular, prefer hedging against the current foggy scene through selling their stocks, which by turns weaken market liquidity, expecting the current liquidity drop to continue amid a

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Dollar’s Upward Surge Takes Timeout in Asia

The dollar’s upward surge lost momentum during the Asian trading session as investors pondered whether markets had gotten ahead of themselves in pricing in greenback strength following Donald Trump’s surprise election victory. Currencies across Asia were showing more resistance to the dollar’s recent strength than in recent sessions. The yen clawed back some ground to Y109.08 after the dollar jumped to a fresh five-month high of Y109.23 overnight. The WSJ Dollar Index, a measure of the U.S. dollar against a

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MSCI unveils changes in MSCI GCC indexes following periodical review

MSCI announced the result of the periodical review of its MSCI Equity Indexes, which includes review of MSCI Frontier Markets Indexes. In respect to GCC region, the review of MSCI Frontier Markets Indexes reflected the addition of Bank of Jordan to MSCI Jordan index, without any deletions, as well as the addition of BBK to MSCI Bahrain index and adding Bank Dhofar to MSCI Oman index. MSCI also announced the review of MSCI GCC Countries Domestic Small Cap Indexes, which

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Tadawul fell 2.09% or 138.29 points to stand at 6,492.86 points on Tuesday.

The main index of the Saudi Stock Exchange (Tadawul) fell 2.09% or 138.29 points to stand at 6,492.86 points on Tuesday. Traded volume retreated 17.91% to 392.3 million shares from 477.9 million shares on Monday, while turnover leveled down 18.04% to SAR 5.85 billion, compared to SAR 7.14 billion yesterday. The media and Real Estate Investment Trusts sector (REIT) sectors advanced 5.14% and 3.31%, respectively. The insurance led the losing sectors and fell 4.84%, followed by the real estate development

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USDEGP

Singaporean company studies establishing EGP15bn industrial zone in Egypt

Singaporean company studies establishing an industrial zone worth EGP 15 billion in Fayoum Governorate, said Yasser EL Magraby, Minister of Trade and Industry Consultant. “The government studies proving the company with the project’s land with usufruct of 30 years,” added EL Magraby. The government will sign preliminary memorandum of understanding with the Singaporean company regarding such project, noted EL Magraby. Egypt’s government seeks to boost the growth of the industrial sector by 8% during the fiscal year 2017 – 2018.

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Singapore Dollar Trades Lower Vs. U.S. Dollar

The Singapore dollar traded lower against the U.S. dollar late Monday as the greenback surged to its highest levels since the start of February against the local currency. The U.S. dollar was quoted at S$1.4163 near the end of the Asian trading day. That compared with S$1.4090 around the same time Friday. Investors expect U.S. President-elect Donald Trump’s proposals to boost fiscal spending, cut taxes and loosen regulation will bolster economic growth and ultimately prompt the U.S. Federal Reserve to

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Indonesia’s Central Bank Continues Intervention in Currency Market

Indonesia–Indonesia’s central bank was still active in the currency market Monday, though the market has largely stabilized, the bank’s deputy governor said. “We were still in the currency market, and the pressure [on the rupiah] has significantly ebbed. The forex market has been stable,” Senior Deputy Gov. Mirza Adityaswara told The Wall Street Journal. “Bank Indonesia will also be present in the bond market if needed.” The comments follow Friday’s intervention by the central bank to defend the rupiah, which

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Central Banks Leaving Large Clues Indicating Intervention

Asian central banks are being coy about whether they are directly intervening on behalf of their country’s currency, but they are leaving clues. Bank Negara Malaysia on Friday said it was taking steps to ensure the ringgit wasn’t priced “excessively and out of sync.” The Monetary Authority of Singapore put out a statement Friday saying it was ready to curb volatility in the Singapore dollar. The Indonesian central bank also said on Friday that it would defend the rupiah. This

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Weak Yen Boosts Toyota Shares

Investors in Japan appear to have shrugged off a $3.4 billion settlement that Toyota Motor (7203.TO) agreed to pay to settle claims in the U.S. that some of its trucks and SUVs lacked proper rust protection. The markets had priced in the lawsuit as a “one-off” event, says Christopher Richter, a Tokyo-based auto analyst at brokerage firm CLSA. The dollar’s strength against the yen also worked in favor of Toyota today, rising in early trading to Y107.49. A weaker yen

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New Zealand Dollar Down After Earthquake

The New Zealand dollar was weaker Monday, as anxious traders sold the currency after an earthquake struck central New Zealand overnight. While the full impact of the magnitude-7.8 quake has yet to be determined, police have confirmed two deaths. Roads, buildings and ports in and around Wellington and Christchurch have been damaged. The New Zealand dollar fell to a one-month low at US$0.7075. At 0330 GMT, it was trading at US$0.7105. That compared to levels of just below US$0.72 around

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U.S Dollar Hits Multi-Month Highs Vs Major Currencies

The dollar ascended Monday in Asia, hitting multi-month highs against the euro, the yen and the Canadian dollar, driven by continued speculation that U.S. President-elect Donald Trump’s fiscal stimulus will boost the U.S. economy and lead to further rate increases by the Federal Reserve. Speculation has grown that Mr. Trump’s possible spending expansion and tax cuts will bolster the U.S. economic growth and the Federal Reserve will raise rates in December and continue its tightening path next year. Higher interest

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USDMXN

The USD/MXN gained 8.91% in the last week

The USD/MXN gained 8.91% in the last week. The pair was one of the most volatile as the election day unfolded given the strong anti-Mexican comments by eventual president-elect Trump. The market had used the peso as a proxy to emerging markets due to its liquidity but also for its high correlation to Trump’s campaign standing. The currency pair is trading at 20.6693 after touching historic lows above the 21 price level. It is unclear if Trump intends to follow

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GOLD FUTURE

Market recap for last week

Equities Recap European shares fell on Friday as commodities stocks fell along with metal and oil prices, while stocks exposed to emerging markets slumped on concern that U.S. President-elect Donald Trump will introduce protectionist trade policies. UKs benchmark FTSE 100 closed down by 1.5 percent, the pan-European FTSEurofirst 300 ended the day down by 0.68 percent, Germanys Dax ended up by 0.3 percent, France’s CAC finished the day down by 1.1 percent. The Dow Jones industrial average ended at a

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Trump Policies Pose Downside Risk for Canada

Trump administration represents a downside risk to Canada on two fronts: trade and interest rates. There’s been a stock rally on both sides of the border, but, “His personal volatility and still-potentially harsh views on trade policy shouldn’t be dismissed.” Trade accounts for almost 2/3 of Canadian economic output. Meanwhile,  the post-election jump in bond yields as traders expect inflation to perk up with Trump’s fiscal policies. If Canadian bonds trade in tandem with Treasurys–as they tend to do– that

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Ecuador Prez Calls for Latin American Unity

In a letter published by Univision, Ecuador President Correa calls for Latin American nations to come together to counter US influence following the Trump’s win. “The future world will be a world of blocks. That’s why we have to consolidate the Community of Latin American and Caribbean States and use the OAS…in order to, as a block, process our conflicts with North America.” Correa, a sharp critic of American foreign policy, says he respects the election results but doesn’t share

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Brazil Assets Lose Ground Amid Concern Over Trump Policies

The Brazilian real slumped and stocks fell Friday, joining other emerging markets as investors remain cautious about the impact Donald Trump’s victory in the U.S. presidential election could have on the global economy. A selloff that began in Asia rolled into markets in Europe, Africa and then Latin America through Friday’s session. The Brazilian real exited active trading at 3.4043, according to Tullett Prebon via FactSet. Brazil’s benchmark stocks index, the Ibovespa, closed 3.3% lower. The real closed at 3.36

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USDMYR

Asian Currencies Down on Broad U.S. Dollar Strength

Broad-based strength in the U.S. dollar weighed on Asian currencies Friday, with at least one central bank intervening to defend the local unit, adding to concerns on how a Donald Trump’s presidency may impact the region. The dollar gained 0.7% against the Malaysian ringgit in early Asian trade Friday but later lost ground. The dollar was last up 0.1% against the ringgit in early afternoon trade. Meanwhile, the dollar rose 3.1% against the Indonesian rupiah in early trade. This was

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Dollar Rallies Against Emerging Market-Currencies

The dollar rose against emerging-market currencies on Thursday, as investors unwound bets on developing countries amid expectations that interest rates will continue to rise in the U.S. The U.S. currency was recently up 5.3% against the Brazilian real, while notching a 5.5% gain against the South African rand and rallying 4.3% against the Mexican peso. The Wall Street Journal Dollar Index, which measures the U.S. currency against 16 others, was recently up 0.7% to 89.48, its highest since March. A

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USDCNY

Trump’s Tough Talk on Yuan Shows Little Sign of Curbing Currency’s Slide

Investors are betting the Chinese yuan will continue its recent slide against the dollar, despite U.S. President-elect Donald Trump’s past criticism of China’s currency policies. After regularly hitting multiyear lows in recent weeks, the yuan extended its fall against the dollar Thursday in China’s domestic market, at one point prompting what traders described as an intervention by the Chinese central bank to support the currency. The yuan also fell sharply against the dollar overnight in offshore markets, where it trades

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IMI

IMI Sees 12% 2016 Sales, Profits Boost from Currency Translation

IMI PLC Thursday said its full-year sales and profits will get a 12% boost from currency translation if as it continues to benefit from the weaker pound since the U.K. voted to exit the European Union in June. The specialist engineering company, which generates less than 6% of sales in the U.K., made the declaration as it reported an 8% fall in third quarter organic revenues, but said these were comparable with the same period last year on a reported

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USD Rebound Continues, (WILD SWINGS COMING)

The U.S. dollar continues to rebound after initial falls in the wake of this week’s election victory for Donald Trump were quickly reversed as market participants concluded it is too early to be concerned about protectionist policies. Instead, they focus on the prospect of increased fiscal spending and less regulation that will boost risk appetite. Markets also see higher inflation which means they can continue to expect a Federal Reserve rate rise in December. EUR/USD trades down 0.3% at $1.0889,

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Swedish Rates Could Be Negative For Longer

SEK has weakened against the euro and may weaken further during the day after Donald Trump’s U.S. election victory, says Swedbank. It expects significant turbulence in the financial markets over the next few weeks and may cause the Federal Reserve to delay December’s expected rate hike. The result also makes it difficult for the ECB and the Riksbank to get away from negative interest rates in the long term. “A Trump victory means long-term uncertainty for the U.S. and global

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wti

Trump Victory Seen Curbing Risk Appetite in Frontier Markets

Donald Trump’s victory will immediately curb risk appetite for investors in frontier markets, negatively affecting African assets and currencies. Mr. Trump’s victory could have a negative impact on appetite for Nigerian stocks and bonds, but a weaker dollar could lead to higher oil prices, helping the biggest African economy and oil exporter, which has slid into recession. In the absence of specific policy statements about U.S.-Africa relations from Mr. Trump, on counter-terrorism and military training, and on trade, Exotix says

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Central Bank Intervention

Foreign-exchange traders are watching for signs that central banks have stepped in to stabilize violent swings in their currencies amid the unexpected US election result. Reuters reported that the Bank of Korea intervened to support the battered South Korean won, while officials scheduled emergency meetings Wednesday to discuss the impact of the US election results. Meanwhile, the Japanese finance minister said officials are watching the yen’s strength and haven’t ruled out intervention. Subdued trading in the euro/Swiss franc also points

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Stocks, Bond Yields Climb Ahead of Election Results

U.S. stocks and Treasury yields climbed Tuesday, reversing earlier declines, as voters went to the polls in a fractious U.S. presidential race. Stocks traded in a tight range earlier in the day, but rose to session highs in the afternoon in a broad market rally that reversed many of the morning’s top trades. Oil prices gained, U.S. government bonds sold off and Mexico’s peso, seen as particularly sensitive to the election outcome, strengthened against the dollar. The CBOE Volatility Index

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10YY

U.S. Election is going to be a coin flip

Stocks, bonds and currency markets froze Tuesday as U.S. voters were set to head to the polls to close out a fractious presidential race. The Stoxx Europe 600 inched up 0.1% late morning, following a muted session in Asia, while futures pointed to a less than 0.2% opening dip for the S&P 500. The yield on the 10-year U.S. Treasury note inched down slightly to 1.817% from 1.826% on Monday. Many investors said they were remaining cautious ahead of the

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egpt

Egypt ‘s budget deficit declined to about 2.4% in quarter 1

The budget deficit during the first quarter of fiscal year 2016-2017 fell to 2.4 percent from 2.8 percent a year ago. The total deficit for the first quarter of the current fiscal year amounted to 76.816 billion pounds from 78.28 billion a year ago. The ratio to GDP stood at 2.4 percent from 2.8 percent a year ago.”The fiscal year begins in Egypt on the first of July. The benefits of debt amounted during the first quarter of 2016-2017 about

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WTI

Oil rises to the expectations of the victory of Hillary Clinton

Oil prices closed higher more than one percent, supported by news not to press charges for Democratic candidate for the US presidential elections, Hillary Clinton, on her e-mail. But gains were limited by the rise of the dollar with improved chances of Clinton’s victory which made the oil in US currency more expensive to drive other currencies as well as doubts about OPEC’s planned production cut. Settlement price for US crude West Texas Intermediate determine at $ 44.89 a barrel,

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USDCNY

U.S. dollar’s direction is a bit unclear under a Trump victory,”

Investors in Asia are taking a cautious stance ahead of Tuesday’s U.S. presidential election, with many saying they are both uncertain about the outcome and unclear about the intentions of both major-party candidates. While the latest polls show a lead for Hillary Clinton at the end of a long and bitter campaign, the contest between the Democratic Party nominee and Republican rival Donald Trump appears to have tightened in the past few days. The Federal Bureau of Investigation’s decision not

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Egypt bourse recovers 58% of the losses in 2015

The new decisions taken by the Egyptian government, pushed the stock indexes to rise to record levels, increasing about 41 billion pounds, representing 58.57% of the total loss in the Egyptian Stock Exchange in 2015. And it caused the exchange rate liberalization and the adoption of resolutions dealing flexible exchange rate regime in the return of investors to the Egyptian Stock Exchange, led by institutions and funds, and that created a great purchasing power pushed the majority of listed stocks

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AUDUSD

Australian Dollar Sapped Ahead of U.S. Election Outcome

A rally in the Australian dollar lost momentum in Asia Tuesday as traders took profits ahead of what some still feel is a U.S. election that could dish up a surprise outcome. At 0500 GMT, the Australian dollar was trading at US$0.7706, up from US$0.7675 at a similar time on Monday. The Aussie traded at highs of around US$0.7728 earlier in line with strong gains in U.S. equities overnight. With national polls showing the divide between candidates in the U.S.

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Stocks, Dollar Rally After FBI Finds No New Evidence to Charge Clinton

Stocks and the dollar jumped Monday while gold and the yen sold off after the FBI said that no new evidence was found to warrant charges against Hillary Clinton, just two days before polls close in the U.S. presidential race. Futures pointed to a 1.3% opening gain for the S&P 500, on track to end its longest losing streak in nearly 36 years. The Stoxx Europe 600 climbed 1.2% in the early minutes of trading, led by banks and energy

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Aramco informed Egypt it will stop the supply of petroleum materials “until further notice”

The Saudi government said on Monday that Aramco’s biggest oil company in the world informed Egypt that it will stop the supply of petroleum material “until further notice.” The official, who asked not to be named told Reuters by telephone when asked about the stop Aramco for the supply of Egyptian petroleum substances during Nov. and Dec. “did not give a reason. Saudi Arabia has agreed to supply Egypt’s petroleum products refined by 700 thousand tons per month for five

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Yen Slide and Nikkei Jumps on Clinton Clearance

Japanese government bonds slip lower, sending yields higher, as investors sold the safety of Japan government debt. This after the FBI said early Monday morning (Tokyo time) that it saw nothing actionable in a fresh batch of emails it was reviewing, sent by U.S. presidential candidate Hillary Clinton. The news markedly improved trading sentiment in Japan, as Clinton is perceived as being more friendly to Asian trade and markets than her Republican opponent, Donald Trump. The benchmark Nikkei closed 1.6%

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Australia might lose its AAA sovereign credit rating within weeks

S&P Global Ratings has been warning about the risk of a downgrade for some months highlighting inaction in Canberra to rein in a bulging budget deficit. Stronger commodity prices, especially a recent surge in coal prices, has offered some hope of stronger government revenues to take some pressure off the budget. Still economists warn the rise in commodity prices is more likely to be temporary than long lasting. The Australian dollar was little changed in Asia Monday with traders sheltering

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EGX30

Moody’s “stock”: liberalization of exchange rates supports the credit rating of Egypt

Stephen Dyke, vice president and chief said officials credit agency Moody’s credit rating agency, said that the Central Bank of Egypt’s decision to liberalize the exchange system that supports positive for Egypt’s credit rating. He’s “the stock market”, that the decision to achieve a basic requirement in the context of an IMF program planned, and that those decisions will support the Executive Board of the International Monetary Fund, which was suspended by the decisions. Dyke and expects short-term fluctuations in

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Americas Roundup: Dollar slips, Oil set for biggest weekly loss

•US October jobs up 161k v 175k forecast prior month revised up, unemployment rate 4.9% on target. •US Avg Hourly earnings +0.4% v 0.3% forecast, U-6 rate drops to 9.5%, lowest since May 2008. •U.S. trade deficit hits 1-1/2-year low, -36.4b v -37.8b forecast, on rising exports. •Fed’s Lockhart: doesn’t expect a recession in near-term, negative rates wouldn’t be 1st or 2nd resort for Fed. •Atlanta Fed’s GDPNow upgrades US Q4 GDP view to 3.1% from 2.3% on Nov 1.

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USBOND10Y

U.S. Stocks Inch Up After Jobs Report

  U.S. stocks rose Friday after employment data signaled solid momentum in the labor market. If stocks can hold slight gains, it would snap an eight-session losing streak for the S&P 500, the longest stretch of declines since the financial crisis. On Friday, the S&P 500 gained 0.3%. The Dow Jones Industrial Average added 27 points, or 0.2%, to 17957, while the Nasdaq Composite rose 0.2%. Big gains by biotechnology shares helped boost stocks. The Nasdaq Biotechnology Index rose 2.7%

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DJ

U.S. Jobs-Levels For Jun Through Oct

U.S. Jobs-Levels For Jun Through Oct Employment in thousands of persons. Workweek and overtime in hours, and earnings in dollars. NSA denotes not seasonally adjusted. A denotes index of aggregate weekly hours in pct (2012=100). P denotes in percent. Source: U.S. Labor Department. NOTE: Data reflect the conversion to the 2012 version of the North American Industry Classification System (NAICS) as tabulation basis.     –Non-farm payroll survey– Oct Sep Aug Jul Jun Total nonfarm 144,952 144,791 144,600 144,424 144,172

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DOLLAR INDEX

US October non-farm payroll preview

Today NFP report for the month of October is to be published at 12:30 GMT from US. What is NFP report? •NFP or non-farm payroll report is the monthly statistics on labor condition in the US released by US department of labor statistics. The report comprises goods, construction and manufacturing sector companies. •This report influences the financial markets deeply across asset class. Key highlights – •Last month report was a very weak one with 156,000 gains. •Change in private payroll

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hsi

Asia Stocks Sinks as Political Tensions Rise

Asia Stocks Sinks as Political Tensions Rise Asian shares broadly banked weekly losses on Friday, with Japan shrugging off better-than-expected economic data amd persistent concerns around the narrowing race for the U.S. White House. The Nikkei Stock Average closed at its lowest level in two weeks, down 1.3%, as traders digested recent yen strengthening after the market reopened following a public holiday Thursday. Elsewhere, Australia’s S&P/ASX 200 ended Friday down for the fourth consecutive session, at 0.7%. Korea’s Kospi closed

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