Oil & Currencies

US dollar index rose by 0.5% - (Photo Credit: Reuters)
07:49 AM Gold prices down ahead of Fed's meeting
Mubasher: Gold prices saw a slide on Monday ahead of central bank meetings in the United States and Japan. By 4:41 GMT, spot gold fell by 0.5% to $1324.90 per ounce. U.S gold futures for August delivery decreased $5 or 0.4% to $1352.10 per ounce. …
The lira dropped 0.7%, to TRY 3.054per dollar - (Photo Credit: Arabianeye-Reuters)
21 July 10:22 AM Lira declines on state of emergency
Mubasher: The Turkish lira continued to decline on Thursday, nearing its lowest exchange rate against the dollar in 10 months, in the wake of the state of emergency being declared for three months. The lira dropped 0.7%, to TRY 3.054per dollar by …
The lira rose 2.7% against the US dollar - (Photo Credit: Arabianeye-Reuters)
18 July 11:34 AM Turkish lira rises against the dollar Monday
The Turkish lira rose on Monday, after the Turkish central bank issued new measures to provide liquidity and ensure financial stability, to avoid negative implications of failed coup attempt. By 8:20 GMT the lira rose 2.7% against the US dollar, …
U.S dollar jumped 4.78% to equal 3.02 lira on Saturday-  (Photo Credit: Arabianeye - Reuters)
16 July 03:54 AM Turkish lira falls against dollar on coup attempt
Mubasher: The Turkish lira plunged against the dollar on Saturday, on the back of Turkey's upheavals. The lira retreated 4.78% against the dollar to 3.02 lira compared to 2.87 lira recorded on Friday, marking the Turkish currency’s biggest fall …
The Central Bank of Egypt (Photo Credit: Reuters)
9 June 04:29 AM Egypt gov't nods for harsher penalties against black market traders
Cairo – Mubasher: The Egyptian government ratified on Wednesday draft amendments to the law no.88/2003 on the regulation of foreign currency trading. Severer penalties will be taken against black market traders, including a jail period extending …
Photo Credit: Arabianeye-Reuters
28 March 04:01 AM Nikkei opens in green
Mubasher: Tokyo indexes witnessed a positive performance in Monday’s early trades. Nikkei 225 rose 0.71% or 121.27 points to reach 17,123.97 points. The broader Topix index added 0.65% to reach 1,067.17 points.
Photo Credit: Arabianeye - Reuters
17 March 02:59 PM Eurozone’s inflation rises y/y
Mubasher: Eurozone’s inflation rate rose to -0.2% in February, compared with -0.3% in the same month of 2015, according to Eurostat, the European statistics office. Eurozone’s trade balance surplus reached 6.2 billion euros, according to the …
Yuan - Photo Credit: Arabianeye - Reuters
17 March 11:44 AM China’s FDI up 1.8% in February
Mubasher: China’s foreign direct investment (FDI) increased by 1.8% year-on-year in February to $8.44 billion, according to the state’s trade ministry. In early February, the ministry said the FDI grew by 2.7% to $22.52 billion in the first two …
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15 March 11:06 AM European shares down in early trade
Mubasher: European shares opened Tuesday lower, snapping Monday’s upward trend. The STOXX Europe 600 index fell 0.79% to 341.94 points, and UK’s FTSE 100 declined 0.59%. Germany’s DAX lost 0.34%, and France’s CAC was 0.57% down. Investors are …
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6 March 12:13 AM China expects economic growth of 6.5% in 5 years
Mubasher: China targets annual economic growth exceeding 6.5% from 2016 to 2020,in a brief overview of China's 13th Five-Year Plan for national economic and social development, according to a government report published "Xinhua" agency. According …
Photo Credit Arabianeye - Reuters
24 February 08:52 PM HSBC: Sterling to lose 20% if Brexit happens
Mubasher: The pound sterling is likely to lose 20% of its value if Britain leaves the European Union, HSBC bank said on Wednesday. The bank added in a research note that the pound could fall by 15-20% against U.S. dollar in the event of Britain’s …
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15 February 01:55 PM Euro widens losses as EU trade balance misses estimates
Mubasher: The euro exchange rate has extended the intra-day poor performance, weakened by the European Monetary Union trade balance that missed forecasts. Trading balance in December registered EUR21 billion, below expectations (EUR22.4 billion) …
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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 …
Photo Credit: Arabianeye - Reuters
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 …