Oil & Currencies

Gold prices are expected to decline to 1,220-1,200 points (Photo Credit: Arabianeye-Reuters)
06:17 AM US dollar likely to strengthen; gold prices to decline
By: Mahmoud Gamal Mubasher: The US dollar is expected to rise this week, amid anticipations of strong economic data that will increase the possibility of a rate hike by the US Federal Reserve next month; thus, pushing gold prices down. The US …
Locally manufactured goods can substitute imports to local and foreign markets - (Photo Credit: Arabianeye-Reuters)
22 February 02:50 PM Flotation marks new beginning for Egyptian economy - PwC
Cairo - Mubasher: The Central Bank of Egypt’s (CBE) decision to float the Egyptian pound was a step in the right direction towards a free and growing economy, according to a report by PricewaterhouseCoopers (PwC) Middle East, published Wednesday. …
(Photo credit: Arabianeye - Reuters)
19 February 06:22 AM Gold falls, US dollar recovers on economic figures
By: Mahmoud Gamal Mubasher: The announcement of growth in US consumer prices led to profit gains by gold traders and gave the US a space to recover. The US trade department said that the consumer prices index (CPI) for all items rose 0.6% in …
(Photo credit: Arabianeye-Reuters)
17 February 11:41 AM Gold falls Friday, eyes weekly gains
Mubasher: Gold prices were down during Friday's trades. Despite that, the precious metal is looking to record weekly gains by around 0.3%. Spot gold prices declined 0.21% to $1,238.85 per ounce by 0831 GMT, while the metal's future contracts lost …
The Central Bank of Egypt - (Photo Credit: Arabianeye-Reuters)
16 February 11:07 AM CBE expected to maintain interest rates
By: Noha Al-Nahhas Cairo - Mubasher: Analysts are expecting the monetary policy committee of the Central Bank of Egypt (CBE) to maintain interest rates in its meeting on Thursday. Last November, the CBE raised interest rates by 300 basis points …
Photo Credit: Arabianeye-Reuters
16 February 12:05 AM Egypt lowers USD customs exchange rate to EGP16
Cairo - Mubasher: The Egyptian ministry of finance (MoF) announced on Wednesday that it will adjust the customs exchange rate for the US Dollar to EGP 16 down from EGP 18.5. The decision is effective beginning Thursday until the end of February, …
The US Dollar recently declined to levels below EGP 17 - (Photo Credit: Arabianeye-Reuters)
14 February 04:35 PM Egyptian importers demand changing customs USD rate
By: Mostafa Adel Cairo - Mubasher: The head of the importers division at the Cairo Chamber of Commerce told Mubasher that there are currently negotiations with the ministry of finance (MoF) to review the fixed customs exchange rate for the US. It …
The Dollar went down below EGP 17 on Monday - (Photo Credit: Arabianeye-Reuters)
13 February 07:55 PM USD flows helped the rise of the Egyptian Pound
By: Mahmoud Salah and Heba Al-Kordi Cairo - Mubasher: The Egyptian Pound defied expectations of falling against the US Dollar since the Central Bank of Egypt’s (CBE) decision to free the exchange rate on 3 November. The pound went up 4.8% on …
Inflation rate went up 29.6% in January - (Photo Credit: Arabianeye-Reuters)
13 February 12:03 PM Egypt’s inflation to continue rising till late 2017
Cairo - Mubasher: MubasherTrade Research expects high inflation rates in Egypt to continue until the latter half of the year by around November 2017, according to a recent report. A higher month-on-month figure in January raises questions about …
These are the lowest USD exchange rates seen in Egyptian banks in 2017 - (Photo Credit: Arabianeye-Reuters)
8 February 08:34 PM USD below EGP18 in 6 banks
Cairo - Mubasher: Wednesday’s night trade in Egyptian banks saw a decline in the exchange rate of the US Dollar against the Egyptian Pound to levels below EGP 18. At Abu Dhabi Islamic Bank (ADIB) the dollar registered EGP 17.9 for buying and …
Deputy Finance Minister, Ahmed Kojak - (Photo Credit: Press Release)
7 February 09:02 PM Foreign investments in Egyptian debt instruments up to $570m
By: Mostafa Adel Cairo - Mubasher: The Egyptian deputy finance minister for fiscal policies, Ahmed Kojak said on Tuesday that foreign investments in treasury bills and bonds totalled $570 million by the end of January. Kojak also told Mubasher …
The Central Bank of Egypt - (Photo Credit: Arabianeye-Reuters)
6 February 06:41 PM Money transfers to Egypt up 11% in Q2
Cairo - Mubasher: Money transfers from Egyptians working abroad have increased by 11.18% during the second quarter of the current fiscal year, as shown by the initial data of the Central Bank of Egypt (CBE). Transfers totalled $4.6 billion in the …
The Central Bank of Egypt - (Photo Credit: Arabianeye-Reuters)
5 February 07:49 PM Egypt foreign reserves up to $26.4bn
Cairo - Mubasher: The Central Bank of Egypt (CBE) announced on Sunday, that the country’s net international reserves reached $26.363 billion at the end of January 2017, increasing by $2.098 billion from its level in December. Egypt’s foreign …
The German DAX index went up 0.12% to stand at 11,641.48 points by 11:16am UAE time (Photo Credit: Arabianeye-Reuters)
3 February 02:23 PM European stocks rise Friday
Mubasher: European stocks opened Friday’s trading session in the green zone. Britain’s FTSE 100 index rose 0.46% or 32.48 points to reach 7,173.45 points by 11:16am UAE time. The German DAX index went up 0.12% to stand at 11,641.48 points, while …
Trader at  Tokyo Stock Exchange (Photo Credit: Arabianeye-Reuters)
3 February 10:17 AM Asian markets volatile on Friday
Mubasher: Asian stocks saw a mixed performance on Friday. The benchmark Nikkei 225 fell 0.02% to 18,918.2 points, whereas the broader Topix index increased 0.3% to 1,514.99 points. The dollar was up 0.3% at 113.13 yen by 7:11am GMT. The Shanghai …
Liquidity in Egyptian banking sector reached EGP 2.7 trillion - (Photo Credit: Arabianeye-Reuters)
31 January 06:36 PM Egyptian banks liquidity surges 40% after pound floatation
By: Mostafa Adel Cairo - Mubasher: Local liquidity in the Egyptian banking sector grew by 39.5% or EGP 653 billion in 2016, as shown by the data of the Central Bank of Egypt (CBE). The central bank said in a report on Tuesday that liquidity …
Egyptian Minister of Finance, Amr Al Garhy - (Photo Credit: Arabianeye-Reuters)
29 January 08:39 PM Egypt considers issuing Yen, Yuan bonds - Minster
By: Mostafa Adel Cairo - Mubasher: The Egyptian minister of finance, Amr Al Garhy, said that Egypt currently considers the possibility to issue international bonds in currencies such as Japanese Yen and Chinese Yuan. Al Garhy added in a press …
The Egyptian Ministry of Finance (MoF) - (Photo Credit: Arabianeye-Reuters)
29 January 08:24 PM Egypt to direct int’l bonds outcome to foreign reserve
By: Mostafa Adel Cairo - Mubasher: The Egyptian minister of finance said that his ministry is currently considering using all funds collected from international bonds to support the country’s foreign exchange reserve instead of directing it to the …
Spot Gold (Photo credit: Arabianeye-Reuters)
26 January 07:25 AM Gold down to 2-week low amid higher US stocks
By: Mahmoud Gamal Mubasher: Gold prices fell to the lowest level in two weeks, in line with the rise of US stocks after renewed optimism for President Donald Trump’s economic policies. Spot gold fell 0.03% to $1,197.5 per ounce by 4:20am GMT. …
Central Bank of Egypt Governor, Tarek Amer - (Photo Archive)
23 January 09:28 PM Egypt's tourism returns down to $3.4bn - CBE
Cairo - Mubasher: The governor of the Central Bank of Egypt (CBE) told the parliament’s economic committee that foreign exchange revenues from tourism has declined from $11 billion in 2011 to $3.4 billion in 2016. Tarek Amer also said in the …
Gold sees resistance at $ 1,210 per ounce (Photo Credit: Arabianeye-Reuters)
22 January 06:41 AM US dollar likely to rise on Trump’s speech
By: Mahmoud Gamal Mubasher: Investors are expected to increase their positions in the American dollar within the coming weeks, after US President Donald Trump sent signals in his inauguration speech that support economy, analysts told Mubasher. As …
(Photo credit: Arabianeye-Reuters)
20 January 06:05 PM US stocks gain at open ahead of Trump inauguration
Mubasher: US indices commenced Friday's trades in the green, a few hours before president elect Donald Trump's official inauguration. The Dow Jones Industrial Average grew 0.45% or 91.58 points to 19,823.7 points, after briefly hitting 100 points, …
(Photo Credit: Arabianeye-Reuters)
19 January 12:51 PM GBP rises on May’s speech in Davos
By: Mahmoud Gamal Mubasher: The British pound gained in London’s early trades on Thursday after the prime minister Theresa May told leaders at the World Economic Forum (WEF) in Davos that the UK will become a "world leader" on trade. Moreover, UK …
The Egyptian Ministry of Finance (MoF) - (Photo Credit: Arabianeye-Reuters)
17 January 03:45 PM Egypt fixes customs USD exchange rate at EGP18.5
Cairo - Mubasher: The Egyptian finance minister, Amr Al Garhy, issued a decision to fix the customs exchange rate for the US dollar at EGP 18.5 starting Tuesday 17 January until the end of next February. The rate was calculated based on the …
The US Dollar index fell by 0.29% (Photo Credit: Arabianeye-Reuters)
15 January 06:48 AM Trump’s speech weakens US Dollar – Analysts
By: Mahmoud Gamal Mubasher: The US Dollar investors are foreseen to continue the profit-taking activity during this week, after Trump’s speech showed no indicators to support economy, analysts told Mubasher. The US Dollar index fell by 0.29% to …