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Copper slides on downbeat China data, strong dollar LONDON: Copper slid to seven-week lows on Thursday as the dollar strengthened and weak economic data from top consumer China reinforced worries about demand for industrial metals. Benchmark copper on the London Metal Exchange ended down 2.5 percent at $5,880 a tonne from $6,028 at Wednesday's close. The metal used in power and construction earlier hit a low of $5,861, its lowest since April 23. "Prices are likely to probably recover in the second half on the back of monetary measures and other supportive measures by the Chinese government," said Commerzbank analyst Eugen Weinberg."(But) what's really alarming is data which pointed to lower (copper) imports into China." China's copper imports fell 16.3 percent in May from the previous month. The higher US currency's makes dollar-priced metals more costly for non-US firms. China's fixed-asset investment grew at its slowest rate in nearly 15 years in May, missing expectations. "The government will ...


Raw sugar sinks to 6-1/2-year low, coffee down on weak real NEW YORK/LONDON: ICE raw sugar futures extended losses and tumbled to a 6-1/2-year low in heavy volume on Thursday after weakness in Brazil's currency triggered automatic sell orders, while arabica coffee prices saw their biggest tumble in three weeks. Cocoa futures also dropped, with the New York July/September spread falling to a contract low. Volume was heavy in all three US soft commodities on heavy spreading on the final day of the index fund roll, ...

CBOT soybeans drop on rainy US Midwest forecast CHICAGO: Chicago Board of Trade soybean futures fell on Thursday, with new-crop contracts posting the biggest declines on forecasts for rain that was seen as beneficial for crop development across much of the US Midwest, traders said.CBOT November soybeans, the first contract to track the crops that will be harvested this fall, dropped 1.3 percent. Front-month July soybeans shed 0.9 percent of their value.Sharp declines in soyoil, which fell for the fourth straight session, also ...

CBOT corn edges lower as dollar firms, wheat tumbles CHICAGO: Chicago Board of Trade corn futures eased to their lowest levels in more than a week on Thursday, pressured by a firmer dollar and sharply lower wheat and soybean prices, traders said.Declines in corn were smaller than those seen in wheat and soybeans, but the lack of any bullish news weighed on corn for the second straight session. The dollar gained against a basket of currencies, making US goods less attractive in export markets.Weekly ...

Gold snaps three-day rally as dollar extends gains after US data NEW YORK/LONDON: Gold prices fell on Thursday, snapping three days of gains, as global stock markets and the dollar rose after strong US economic data, feeding expectations that the Federal Reserve will raise interest rates in 2015. US retail sales increased 1.2 percent in May, topping the 1.1 percent growth expected by economists. Separately, US import prices rose in May after 10 months of declines, while weekly jobless claims rose slightly more than expected but ...

CBOT wheat hits 1-week low on export competition, firmer dollar CHICAGO: Wheat futures on the Chicago Board of Trade fell to a one-week low on Thursday on a rebound in the dollar and reminders that US wheat is uncompetitive, traders said.Egypt's state grain supplier bought 60,000 tonnes of Russian wheat at an international tender. The Russian grain was offered at $190.50 per tonne FOB, while the lone US offer of soft red winter wheat was priced at $227.67 FOB.The dollar firmed on strong US retail ...

Wheat slips further after USDA lifts supply view SINGAPORE: Chicago wheat dropped further on Thursday after tumbling more than 3 percent in the prior session in its sharpest slide in two weeks, as the US boosted its supply outlook following heavy rains.The US Department of Agriculture said rains across the southern and central US Plains throughout May increased wheat production in that area. The government forecast US winter wheat production at 1.505 billion bushels, up 33 million bushels from its estimate last month.USDA ...


 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 06, 2015
Reserves $18.201 bln