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Euro slumps after ECB launches bond-buying program to revive economy NEW YORK: The euro sank to a more than 11-year low against the dollar and a three-month low against the yen on Thursday after the European Central Bank launched a landmark bond-buying program that will pump hundreds of billions into a sagging euro zone economy. The ECB said it would buy government bonds from this March until the end of September 2016 despite opposition from Germany's Bundesbank and concerns in Berlin that it could allow spendthrift countries to slacken economic reforms. Together with existing schemes, the new quantitative easing program will pump 60 billion euros a month into the economy. Investors sold the euro and traders who made money betting against or "shorting" the currency over the past six months in anticipation that the ECB would implement such a program to fight deflation and revive the euro zone economy added to those bets, sending the euro broadly lower. "The ECB ...

C$ slides as market digests surprise BoC rate cut TORONTO: The Canadian dollar weakened against its US counterpart on Thursday, remaining near 5-1/2 year lows, as investors digested a stunning rate cut by the Bank of Canada a day earlier.The markets were also following the latest developments at the European Central Bank, which launched a government bond-buying program on Thursday that will pump hundreds of billions of euros of new money into the region's sagging economy.The ECB's move comes a day after the Bank ...
C$ hits 5-1/2 year lows after weak data, IMF outlook TORONTO: The Canadian dollar weakened to the lowest in more than 5-1/2 years against its US counterpart on Tuesday after factory sales data came in soft and the International Monetary Fund (IMF) cut its forecast for economic growth in Canada.Manufacturing sales fell by 1.4 percent in November due to a sharp decrease in vehicle sales, according to Statistics Canada. The figure was double the expected decline, and the third slide in four months.The IMF report ...
Dollar rises versus yen on Chinese data, bet on BOJ NEW YORK: The dollar climbed on Tuesday to a one-week high against the yen as data showed Chinese economic growth slowed less than many had feared and traders speculated whether the Bank of Japan could ease policy, curbing demand for the safe-haven Japanese currency.The greenback also strengthened on the International Monetary Fund's latest forecasts that showed the United States was on a faster growth trajectory than most other major economies."The dollar is stronger against the ...
Dollar gains ground against Swiss franc, hits highs vs euro NEW YORK: The US dollar and the euro gained a little ground against the Swiss franc on Friday, a day after the Swiss National Bank shocked markets by scrapping a currency cap, while the dollar hit new multi-year highs against the euro on expected European Central Bank easing. The euro suffered its biggest-ever one-day fall against the franc on Thursday, dropping more than 18 percent, after the SNB stunned markets by scrapping its three-year-old pledge ...
Swiss franc soars after SNB drops cap on currency NEW YORK: The Swiss franc soared nearly 28 percent against the dollar on Thursday after Switzerland's central bank dumped a three-year-old cap on the franc's value against the euro, sending shockwaves through currency markets and pummelling traders who had bet against the franc. The euro plunged as much as 30 percent below the 1.20 cap to a record low of 0.8500 francs per euro at one point before bouncing off its session low.The dollar plummeted ...
C$ gains in aftermath of Swiss central bank move TORONTO: The Canadian dollar strengthened against its US counterpart on Thursday as the commodity-linked currency benefited from the Swiss central bank's shock withdrawal of a cap on the safe-haven franc.The move, which sent the franc soaring, boosted commodities from crude oil to gold and prompted traders to scale back bets on a further rise in the value of the greenback."The Swiss National Bank's move to effectively drop their defense of the 1.20 euro/Swiss floor has ...


Index Closing Chg%
Arrow DJIA 17,164.95 1.45
Arrow Nasdaq 4,635.24 1.03
Arrow S&P 1,994.99 1.30
Arrow FTSE 6,749.40 0.90
Arrow DAX 10,694.32 0.41
Arrow CAC-40 4,604.25 0.59
Arrow Nikkei 17,674.39 0.39
Arrow H.Seng 24,507.05 0.36
Arrow Sensex 29,182.95 1.68

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln