Oil & Currencies

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2 February 12:47 AM U.S. stocks see volatile trend at close
Mubasher: U.S. stocks witnessed a mixed performance on Monday. Dow Jones declined 0.11% to reach 16,449 points. The NASDAQ composite index increased 0.13% to reach 4,620 points. Standard & Poor's declined 0.06% to stand at 1,939 points. The Global …
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2 February 12:02 AM Iran retrieves $100bn of frozen funds – official
Mubasher: Iran said Monday it has recovered $100 billion worth of its frozen overseas assets after the implementation of a landmark nuclear deal with world powers, the state's news agency reported. Government spokesman Mohammad Nobakht said much …
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1 February 11:35 AM European shares open mixed amid disappointing data
Mubasher: European shares opened Monday on a mixed note amid disappointing economic data for Japan and China. The Markit/Nikkei Final Japan Manufacturing Purchasing Managers Index (PMI) declined to 52.3 in January on a seasonally adjusted basis, …
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1 February 11:02 AM Japan banks cut mortgage rates to record levels
Mubasher: Most Japanese banks slashed their fixed 10-year mortgage rates for prime customers by 0.05% as of February, according the state's public broadcasting organisation. The rate is now 1.05% at the Bank of Tokyo-Mitsubishi UFJ, Sumitomo …
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1 February 10:33 AM Japan stocks continue rise, shrug off negative manufacturing data
Mubasher: Japan stocks continued their upward trend at the end of Monday's trading despite lower-than-expected manufacturing data for China and Japan.   The Markit/Nikkei Final Japan Manufacturing Purchasing Managers Index (PMI) declined to 52.3 …
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1 February 09:31 AM China manufacturing turns down; budget deficit widens
Mubasher: China’s Manufacturing Purchasing Managers Index (PMI) shrank in January, more than expectations, along with budget deficit increase. The index dropped to 49.4, against previous estimates (49.6) and last month (49.7), Markit Economics …
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29 January 05:01 PM U.S. economic growth slows in fourth quarter
Mubasher: U.S. gross domestic product increased at a 0.7% year-on-year in the fourth quarter of 2015, missing estimates of 0.8% and actual 2% recorded in the previous quarter, showed data issued by the Commerce Department on Friday.
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29 January 03:06 PM Eurozone inflation rises to 0.4% in January
Mubasher: The Eurozone's consumer price index rose by 0.4% year-on-year in January, matching estimates and against 0.2% in the previous month, according to the EU statistics agency Eurostat . The rise in inflation continued to be held back by …
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29 January 01:32 PM Asian shares gain after upbeat data
Mubasher: Asian share indices were in green on Friday, after the Bank of Japan introduced a negative interest-rate policy in a bid to achieve target inflation rate and spur the economy. Japan's Nikkei share average rose by 2.8% to a two-week high …
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29 January 01:11 PM Bank of Japan introduces negative interest-rate policy
Mubasher: The Bank of Japan decided on Friday to introduce a negative interest rate policy, a move aimed at boosting an economic recovery and warding off deflation. Tokyo's central bank imposed a 0.1% fee on selected current account deposits, …
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28 January 01:50 PM EU economic, industrial confidence slips
Mubasher:  The European Union (EU) issued today several negative economic data, amid slowing global economic growth and the oil price plunge to lowest level since 2013. The European Commission (EC) said in a statement that EU consumer confidence …
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27 January 10:01 PM U.S. Fed keeps rates unchanged
Mubasher: The U.S. Federal Reserve maintained the dollar interest rate unchanged at 0.50%, in a meeting held late Wednesday.
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27 January 03:31 PM U.S. MBA mortgage applications slightly decline
Mubasher: The United States MBA mortgage applications declined slightly by 8.8% by the end of the third week of January, against 9%  a week earlier. The dollar slightly decreased by 0.04% against a basket of currencies to reach 99.02. It retreated …
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27 January 12:03 PM European stock markets open in green zone
The European stock markets started Wednesday’s trading in green, building on gains from yesterday. UK’s FTSE 100 rose by 0.11% to settle at 5,918 points. Germany’s DAX inched 0.08% up to 9,831 points. France’s CAC grew 0.28% to 4,369 points. …
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26 January 01:15 PM Oil prices decline on China's weak economic data
Mubasher: Oil prices fell on Tuesday as negative data reflected investors' concerns about weak demand for crude in China. At 10:00GMT, Brent crude dropped 1.2% to $29.2 a barrel, while the U.S. light crude declined to $28.9. China's rail freight …
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26 January 12:15 PM European shares tick lower in early trade
Mubasher: European shares opened Tuesday lower, hurt by the steep decline in their Chinese peers as well as falling oil prices. At 9:05GMT, the UK's FTSE slipped 1.59% and German's DAX fell 1.41%. In addition, France's CAC lost 1.74%. FTSEurofirst …
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25 January 11:32 AM European shares open on mixed note
Mubasher: European shares opened Monday on a mixed note after closing higher last week. UK's FTSE100 rose 0.05% to 5903 points, and German's DAX was up 0.04% to 9769. Meanwhile, France's CAC lost 0.02% to 4336. Stoxx 600 index shed 0.11% to 338, …
Bank of America/Merrill Lynch
24 January 10:04 AM US economy likely to enter recession -BAML
Mubasher: The possibility of US’s economy entering a recession in the coming year rose to 20% from 15%, according to Bank of America/Merrill Lynch (BAML). A repeat of the 2008-2009 great recession "is a big stretch" and even the chance of a normal …
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22 January 02:11 PM China's urban unemployment rate at 4.05% in 2015
Mubasher: China's urban unemployment rate stood at 4.05% at the end of 2015, the labour ministry said on Friday, unchanged from the end of the third quarter. The state offered 13.12 million new jobs to nationals last year, exceeding the …
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22 January 12:05 PM European shares continue rise, shrug off negative data
Mubasher: European shares continued their rally in Friday's morning trading despite the negative economic data released today.    January's composite PMI declined to 53.6 from 54.2 in December, according to the data released on Friday by the …
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22 January 11:47 AM Nikkei hits biggest daily gain in over 4 months
Mubasher: Japan stocks closed Friday in the green, recording the biggest daily gain in four and a half months. Nikkei climbed 5.88% to 16958.53 points, while the broader TOPIX jumped 5.6% to 1374.19. In addition, JPX Nikkei Index 400 also moved …
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21 January 04:13 PM ECB keeps rates unchanged
Mubasher: The European Central Bank (ECB) lefts its key interest rates unchanged on Thursday. The ECB kept its main interest rate at a record low of 0.05%. The rate on overnight bank deposits also remained at minus 0.30%, which shows that the bank …
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21 January 11:44 AM European indexes opens in green against Asian markets
Mubasher: European indexes opened Thursday at a rise, shrugging off the decline of Asian stocks. Most of Asian markets saw a negative performance as Japan's Nikkei 225 fell 2.43% and Shanghai composite declined 3.25%.  The FTSE 100 in London …
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19 January 03:23 PM IMF expects weak pick-up in global economy
Mubasher: The International Monetary Fund (IMF) lowered global growth forecasts for 2016, weighed by slowdown in China's trade and weak commodity prices that are hammering Brazil and other emerging markets. IMF forecast that the world economy …
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19 January 11:52 AM European stocks open in green
Mubasher: European stocks opened Tuesday higher, reversing the downward trend they developed yesterday.  The commodity-heavy FTSE 100 in London added 1.56% to reach 5,870 points. Germany’s DAX increased 1.88% to reach 9,701 points. Also, CAC 40 in …
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