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Copper, base metals surge on dovish Fed minutes, dollar losses LONDON: Copper and other base metals rebounded on Thursday after U.S. central bank authorities signalled they would not rush to boost interest rates, extending a period of cheap capital for industry and investors.The London Metal Exchange (LME) saw gains across the board, joining broader financial markets in responding to the release of the minutes of the last Federal Reserve policy meeting.The dollar fell and U.S. stocks soared as investors factored in a longer time frame before any rate rises.The dollar had enjoyed 12 consecutive weeks of gains since early July, the U.S. currency's best run in more than 40 years.The strong dollar had weighed on commodity markets, making dollar-priced materials costlier for European and other non-U.S. investors."It was a surprise, definitely everyone thought the dollar strength would go in one direction," said Eugen Weinberg, head of commodity research at Commerzbank in Frankfurt."A stronger correction to the upside (in metals) would ...

Gold at 2-week highs on lower dollar as U.S. rate hike seen farther off LONDON: Gold climbed to its highest in two weeks on Thursday as the dollar fell after minutes of the last Federal Reserve policy meeting drove markets to push back expectations for the likely timing of an interest rate rise.Spot gold rose to its highest since Sept. 26 at $1,229.80 an ounce early on Thursday, and was trading up 0.5 percent at $1,227.40 by 0956 GMT.It rebounded nearly four percent from a 15-month low of $1,183.46 ...
Coffee prices climb on expected tightening of supplies LONDON: Arabica coffee futures on ICE rose on Thursday, with the market heading back towards a more than 2-1/2 year high set this week, boosted by the prospect of a smaller crop in Brazil next year and tighter global supplies.Raw sugar futures were also higher ahead of key Brazil crush data to be issued later on Thursday, while a weaker dollar supported ICE cocoa.December arabica coffee futures on ICE were up 3.55 cents, or 1.7 ...
Copper steady as dollar eases; growth worries cap gains LONDON: Copper steadied on Wednesday as the dollar lost momentum yet the metal remained near five-month lows on concerns about economic growth in China and Europe.The International Monetary Fund on Tuesday cut its global growth forecasts for a third time this year while data showed German industrial output in August in its biggest fall since the financial crisis.Underpinning copper, however, the dollar index dipped into negative territory, having hit a four-year high on Friday. A ...
Wheat and soybeans firm ahead of USDA report HAMBURG/SINGAPORE: Chicago wheat and soybeans rose on Wednesday in positioning ahead of a US Department of Agriculture (USDA) report on global supply and demand for grains and oilseeds due on Friday.Corn fell on pressure from record production and a lack of demand for US supplies.Chicago Board of Trade front month December wheat rose 0.1 percent to $5.06-3/4 a bushel by 1031 GMT after climbing earlier in the day to $5.11-1/2, the highest since Sept. 11.Wheat ...
Gold rises 1pc as stocks extend losses on growth fears LONDON: Gold rose 1 percent on Wednesday as stock markets fell for a second day, with a cut in the International Monetary Fund's global growth forecasts fuelling concerns over the world economy. European stocks hit 1-1/2-month lows, and world share indexes pushed back towards their lowest in six months, while German bond yields slipped towards record lows as concerns over global growth spurred demand for safe-haven debt. Spot gold was up 0.9 percent at $1,219.30 ...
Gold dips below $1,200 for 1st time in 2014 on US jobs data LONDON: Gold fell below $1,200 an ounce for the first time this year on Friday as the dollar jumped after better-than expected US non-farm payroll data, which could bolster bets on a Federal Reserve rate hike in mid-2015 or even earlier. US non-farm payrolls rose by 248,000 jobs, and the jobless rate fell to 5.9 percent last month, the lowest since July 2008, the Labor Department said. Economists polled by Reuters had expected a jump ...

 



 
Index Closing Chg%
Arrow DJIA 16,461.32 0.92
Arrow Nasdaq 4,382.85 0.83
Arrow S&P 1,927.11 0.73
Arrow FTSE 6,399.73 0.43
Arrow DAX 8,940.14 0.60
Arrow CAC-40 4,105.09 0.58
Arrow Nikkei 15,195.77 2.64
Arrow H.Seng 23,403.97 1.37
Arrow Sensex 26,787.23 0.80





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln