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Dollar drops 1pc vs yen as stocks fall before US jobs data LONDON: The dollar fell on Friday while demand for the safe-haven yen picked up as stocks weakened, with traders increasingly certain that a key US jobs report due later is unlikely to push the Federal Reserve to raise rates. Traders said a non-farm payrolls report which is in line with expectations, or even a slightly better-than-expected reading, would be unlikely to alter expectations that the Federal Reserve will not raise interest rates later this month. For the dollar to get a boost, not only would the report have to show a huge rise above the 220,000 consensus figure, but wages too would need to register a sharp uptick, which could bring a hike this month back to the table, analysts said. Expectations of a rate hike by the Fed in September have waned as a slowdown in China has brought increased market volatility across asset classes. That has caused the ...

Sterling dips after UK services PMI survey misses forecasts LONDON: Sterling fell against the dollar and the euro on Thursday after Britain's dominant services sector grew at its weakest pace in more than two years in August, adding to doubts over when the Bank of England can raise interest rates. Markit/CIPS Purchasing Managers' Index (PMI) for Britain's services industry dropped in August to its lowest since May 2013 at 55.6, down from 57.4 in July. That was well below economists' forecasts of a 57.6 ...
Polish zloty edges up, CEE eyes on ECB stance BUCHAREST: Central European currencies were virtually unchanged on Thursday with the Polish zloty edging up ahead of a European Central Bank's monetary policy meeting, which could yield hints of stepping up quantitative easing.The zloty, Central and Eastern Europe's most liquid currency, gained 0.2 percent, reaching 4.229 to the euro."If the ECB sends reassuring signals to the market today (...) the euro/zloty could be pushed lower towards 4.21," BZ WBK analysts said in a note.The zloty ...
Turkish lira weakens as Iraq kidnappings add to security worries ISTANBUL: The Turkish lira weakened against the dollar on Wednesday as the kidnapping of 18 Turkish workers in Baghdad added to Turkey's security concerns, while a negative emerging market backdrop also weighed on sentiment. The lira has lost some 20 percent of its value against the dollar this year, hit by political uncertainty after an inconclusive June election and renewed conflict with Kurdish militants in the southeast. Diplomats have said Turkey could suffer reprisals after ...
Dollar recovers ground vs yen and euro as stocks stabilise LONDON: The dollar rose on Wednesday as fragile global stock markets stabilised, taking the heat out of a rush to unwind carry trades that have boosted the safe-haven yen and the low-yielding euro in the past few weeks. A spike in risk aversion due to slowing Chinese and global growth prompted investors to cut unfavourable bets in the yen and the euro, both of which have been popular funding currencies for carry trades. Such trades ...
Sterling dips as UK manufacturing PMI pushes out rate rise views LONDON: Sterling lost ground against both the dollar and euro on Tuesday after a weaker-than-expected reading of business sentiment among manufacturers added to arguments for another prolonged hold in Bank of England interest rates. The pound has suffered along with the dollar from a week of turmoil around China's financial markets and economic outlook which has trimmed some bets on the prospect of rises in UK and US borrowing costs. Central bank policymakers seem for ...
Forint leads currencies lower after mixed PMI readings WARSAW/BUDAPEST: Hungary's forint led Central and Eastern European currencies lower on Tuesday after a monthly survey showed manufacturing activity below its long-term average and weaker than in Poland and the Czech Republic.The forint dropped 0.35 percent to 314.7 versus euro after the PMI data, while yields on Hungary's government bonds rose by 1-6 basis points."Generally, there are concerns about (economic growth in) China, while Hungary does not seem to be keeping up the pace with ...


Index Closing Chg%
Arrow DJIA 17,131.86 0.28
Arrow Nasdaq 4,838.65 0.17
Arrow S&P 2,017.46 0.13
Arrow FTSE 6,371.18 0.70
Arrow DAX 10,119.83 0.23
Arrow CAC-40 4,688.70 0.27
Arrow Nikkei 18,438.67 1.67
Arrow H.Seng 22,730.93 1.21
Arrow Sensex 26,904.11 0.65

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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-1.988 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklyOctober 08, 2015
Reserves $20.05 bln