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Dollar slips vs. euro after dim US economic data NEW YORK: The dollar slipped against the euro Friday after dreary data on the US economy this week had traders expecting the Federal Reserve will keep ultra-low interest rates well into 2015.On Thursday US consumer spending data for May showed a mere 0.2 percent increase from April, but adjusted for inflation, spending actually fell 0.1 percent.News of the weakness in consumer spending, the main driver of the US economy, came a day after the government slashed its first-quarter gross domestic product estimate, to a sharp 2.9 percent economic contraction."The GDP report, then yesterday's softer than expected spending figures, will do little to pressure Fed officials to begin raising borrowing costs any time before mid-2015," said Omer Esiner of Commonwealth Foreign Exchange.Kathy Lien of BK Asset Management noted that most market participants did not expect the Fed to raise interest rates until the second half of 2015. "But after this week's ...

C$ builds on recent momentum, hits 5-1/2 month high TORONTO: The Canadian dollar firmed against the greenback on Thursday, hitting a 5-1/2-month high as a dearth of domestic economic data this week cleared the way for it to extend its recent run higher.Some weakness in the US dollar also benefited the Canadian dollar after data showed US consumer spending rose less than expected in May.The loonie has only declined in one session this week so far, continuing the gains it made last week on ...
Dollar gains slightly after US data fails to derail growth outlook NEW YORK: The U.S. dollar edged higher against a basket of major currencies on Thursday after U.S. data on consumer spending and jobless claims did not stray far enough from expectations to disturb optimism surrounding economic growth.The Commerce Department said consumer spending increased 0.2 percent in May after being flat in April. Spending, which accounts for more than two-thirds of U.S. economic activity, had been forecast rising 0.4 percent.In a separate report, the Labor Department ...
Larger Q1 contraction send US dollar lower NEW YORK: A much larger than expected first quarter contraction in the US economy sent the dollar lower Wednesday, with investors taking the report as dovish for interest rates.US treasury yields also sank on the news that the economy shrank 2.9 percent in the January-March period, far greater than the 1.0 percent previously estimated and the sharpest fall since the 2008-2009 recession.That put a damper on recent speculation that growth is stronger than the Federal ...
Dollar holds steady despite upbeat US economic data NEW YORK: The dollar held steady on Tuesday amid positive US economic data seen as not strong enough to push the Federal Reserve to advance the start of interest rate increases.US consumer confidence rose in June to its highest level since January 2008 and new-home sales scored their strongest monthly gain in 22 years in May, hitting the highest pace since May 2008."At the start of the week we were skeptical about the ability of ...
Euro holds steady despite weak eurozone data NEW YORK: The euro held largely unchanged against the dollar Monday, despite poor economic data for the 18-nation eurozone pointing to slowing growth, and a deeper contraction in France."Forex volatility continues to trade near record-lows and seemingly little promises to break the euro and the US dollar out of recent ranges," said David Rodriguez at DailyFX.Eurozone business activity slipped for the second month running in June, suggesting the single-currency bloc's modest recovery could be stalling.Markit ...
Dollar rebounds slightly on euro NEW YORK: The dollar edged higher against the euro after two days of losses in overall relatively steady foreign exchange markets on Friday.The growing fighting in Iraq kept investors more focused on low-risk currencies, with little movement in US Treasury bonds as well.The dovish comments from Federal Reserve Chair Janet Yellen on Wednesday, which contrasted with slightly more hawkish forecasts for interest rates from Fed officials, kept trader eyes on economic data. But that too ...


Index Closing Chg%
Arrow DJIA 17,098.45 0.11
Arrow Nasdaq 4,580.27 0.50
Arrow S&P 2,003.37 0.33
Arrow FTSE 6,825.31 0.08
Arrow DAX 9,479.03 0.09
Arrow CAC-40 4,379.73 0.03
Arrow Nikkei 15,476.60 0.34
Arrow H.Seng 24,752.09 0.04
Arrow Sensex 26,867.55 0.86

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln