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Philippine peso retreats, month-end dollar demand hurts Asia FX SINGAPORE: The Philippine peso turned down after hitting its strongest in more than three weeks on Thursday as most emerging Asian currencies eased on month-end corporate dollar demand.Earlier, the peso rose as much as 0.3 percent to 43.55 per dollar, its strongest since Aug. 5, as better-than-expected economic growth in the second quarter boosted prospects for a further rate hike.The peso reversed direction on month-end dollar demand from local companies while broad weakness in regional peers prompted investors to cover short positions. Manila shares also lost 0.8 percent, underperforming other Asian equity markets.Indonesia's rupiah eased 0.2 percent as importers bought dollar for month-end payments.Investors grew more concerned over how exports will be affected if coal mining contracts are revoked due to unpaid royalties.The Malaysian ringgit dipped as investors trimmed their exposure to both the US dollar and the Singapore dollar. Malaysian corporate demand for the greenback also weighed on the ...


Euro gets reprieve as QE speculation cools a touch LONDON: The euro rose further off a one-year low against the dollar on Thursday as feverish speculation of an imminent round of quantitative easing by the European Central Bank cooled. Sources told Reuters on Wednesday that the ECB was unlikely to take new policy action at its meeting next week unless inflation figures on Friday show the euro zone sinking significantly towards deflation. That prompted speculators to trim huge bearish positions in the euro. The ...

South Africa's rand seen firmer on demand for riskier assets JOHANNESBURG: South Africa's rand was little changed in early trade on Thursday, with analysts saying it would likely to trade firmer, as hopes of more stimulus from the European Central Bank underpinned risk appetite. At 0638 GMT the rand was little changed against the dollar at 10.6125, from its close of 10.6100 in New York on Wednesday. The currency firmed nearly 1 percent over the previous two sessions, supported by increased emerging market risk appetite ...

Dollar slips in Asia ahead of US data TOKYO: The dollar slipped against other major currencies in Asia on Thursday as investors await revised US second-quarter growth data. In Tokyo afternoon trade, the greenback weakened to 103.73 yen, from 103.86 yen in New York.The euro turned up to $1.3212 from $1.3195, while it bought 137.06 yen against 137.05 yen in US trading.Many investors were sticking to the sidelines ahead of the April-June figures due later in the day, which will give fresh clues ...

Sri Lanka rupee tad firmer in dull trade; seen steady COLOMBO: The Sri Lankan rupee was slightly firmer in dull trade on Thursday as exporter dollar sales outpaced importer demand for the greenback. Dealers expect the local currency to remain steady for the rest of the year after positive comments by the central bank chief last week. Central bank Governor Ajith Nivard Cabraal said the banking regulator would intervene in the thinly-traded market whenever needed to keep the rupee stable. The rupee was trading at ...

Australian dollar lifted by investment outlook, kiwi dragged up WELLINGTON/SYDNEY: The Australian dollar received a boost on Thursday after a better-than-expected outlook for business investment leant hope the economy could weather an ongoing pullback in the mining sector, hoisting the New Zealand dollar higher.The Australian dollar powered up to $0.9360, from $0.9336 in early trade. It climbed to a three-week peak of $0.9373, where it met heavy resistance."Both the Aussie and bonds reacted to the headline print, but details were mixed," said Su-Lin Ong, ...

China's yuan almost unchanged after moving in narrow range SHANGHAI: China's yuan was barely changed against the dollar on Thursday, moving in a narrow range after the central bank set its daily midpoint rate nearly flat.Traders said the generally flat midpoint fixings of late signalled the PBOC's intention to hold the yuan steady, as growth of the world's second-largest economy appears to be faltering again.On Thursday, the People's Bank of China (PBOC) set the midpoint rate at 6.1638 per dollar prior to market open, ...


 



 
Index Closing Chg%
Arrow DJIA 17,122.01 0.09
Arrow Nasdaq 4,569.62 0.02
Arrow S&P 2,000.12 0.01
Arrow FTSE 6,830.66 0.12
Arrow DAX 9,569.71 0.19
Arrow CAC-40 4,395.26 0.04
Arrow Nikkei 15,534.82 0.09
Arrow H.Seng 24,918.75 0.62
Arrow Sensex 26,560.15 0.44





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 25, 2014
Reserves $13.925 bln