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C$ firms on weak US data, crude stays under pressure TORONTO: The Canadian dollar strengthened on Wednesday against its US counterpart, which fell on weaker-than-expected US retail sales data, while crude remained under pressure after the World Bank cut its economic growth forecasts for this year and next.The World Bank forecast the global economy would grow 3 percent this year, below the 3.4 percent it forecast in June, due to disappointing economic prospects in the euro zone, Japan and elsewhere.Retail sales in the United States fell 0.9 percent in December as demand fell nearly across the board. It was the largest decline in 11 months and sent the US dollar lower."One of the most popular trades for 2015 is expectations the US dollar will continue to strengthen this year on the back of policy normalization at the Fed," said senior economist and strategist Charles St-Arnaud of Nomura Securities in London."Obviously a weak number can throw a bit of doubt on ...

Dollar bolstered by US rate, economic outlook NEW YORK: The dollar gained on Tuesday, still benefiting from more upbeat U.S. economic prospects compared with the rest of the world that should keep the Federal Reserve on track to raise interest rates this year.The greenback has risen in seven of the last eight sessions against a currency basket and is on track for a fourth straight week of gains.Some investors, however, have started to question the wisdom of raising rates at all given ...
C$ steady near 5-1/2 year lows as oil keeps sliding TORONTO: The Canadian dollar was steady against the US dollar on Tuesday but came within a hairsbreadth of weakening to the key C$1.20 mark as crude prices continued to crumble.The United Arab Emirates' energy minister stood firm on the Organization of the Petroleum Exporting Countries' (OPEC) decision not to scale back output despite an excess of supply and on OPEC's insistence that other higher-cost producers be the ones to reduce their output.Oil, a major Canadian ...
Euro dips as market eyes possible ECB stimulus NEW YORK: The euro dropped somewhat against the dollar and other currencies Monday on expectations the European Central Bank could soon enact monetary stimulus.Besides the dollar, the euro dipped against the Japanese yen and the British pound. The single currency was unchanged against the Swiss franc."For the most part, the euro remains under pressure and we do not anticipate a significant rally this week," said BK Asset Management analyst Kathy Lien.Lien added that, "ECB officials ...
C$ falls to 5-1/2 year low as oil prices drop further TORONTO: The Canadian dollar hit a fresh 5-1/2 year low against the greenback on Monday as oil prices continued to weaken, pushing the currency towards a key psychological support level at C$1.20 to the US dollar.Oil is a major Canadian export and crude prices showed no sign of escaping their downward spiral. Meanwhile, the US dollar edged higher as investors who expect a stronger greenback were given a chance to reload after it weakened on ...
US, Canada jobs data drag C$ to 5-1/2 lows TORONTO: The Canadian dollar stumbled to its weakest level in more than 5-1/2 years following North American jobs data that showed a weaker-than-expected labor market in Canada and sturdy gains in the United States, further evidence that the Federal Reserve is likely to raise interest rates this year.Canada shed 4,300 positions in December after losing 10,700 jobs in November. Market forecasters had estimated an increase of 15,000 jobs. The overall unemployment rate held at 6.6 ...
Dollar cuts losses on improving US jobs data NEW YORK: The dollar cut its losses on Friday after better-than-expected U.S. jobs data for December left intact the case for the Federal Reserve to increase interest rates and give the greenback a further investment yield advantage.Last month the U.S. economy created an additional 252,000 new non-farm jobs, the 11th straight month of payroll increases above 200,000, marking the longest stretch since 1994. Economists forecast a gain of 240,000 new jobs.The unemployment rate fell to ...

 



 
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
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Arrow Sensex 29,182.95 1.68






ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyNovember
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln