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Forint eases to 5-week low on rate cut expectation BUDAPEST: The forint extended its losses against the euro on Friday, underperforming Central European currencies due to expectations of further interest rate cuts by the National Bank of Hungary.The expectations were triggered by Thursday's Hungarian figures which showed a record 0.7 percent annual fall in consumer prices in November.The forint tested 5-week lows against the euro, easing 0.2 percent to 308.73 by 0917 GMT.The Hungarian central bank, which finished its rate easing cycle in July after two years of cuts, is expected to keep its 2 percent base rate on hold at its meeting on Tuesday.But a drop in core inflation to 1.2 percent from 1.5 percent in October is likely to tempt the bank to follow the example of other central banks in the region and reduce its interest rates further early next year, Commerzbank said in a note."...we see rates being cut another 40 basis points from here ...

Sterling dips towards 15-month lows as UK data fails to impress LONDON: Sterling extended losses to fall towards recent 15-month lows against the dollar on Friday on growing evidence that Britain's economic growth is moderating, a factor that is likely to keep UK interest rates lower for longer. Construction output fell 2.2 percent in October after rising by the same amount in September, the Office for National Statistics said on Friday. Sterling fell 0.2 percent to $1.5702, not far from a 15-month trough of $1.5585 hit ...
Norwegian crown hits 11 year low as oil slides further LONDON: Norway's crown plunged to its lowest in more than a decade against the dollar on Friday, a day after its central bank unexpectedly cut interest rates to boost growth as oil prices slid further.Brent crude sank to a 5-1/2-year trough below $63 on Friday, inflicting yet more pain on those currencies, including the Canadian dollar as well as the crown, whose economies rely heavily on oil exports. Norges Bank said lower oil prices were ...
Russian rouble hits new low, stocks down at market opening MOSCOW: The Russian rouble fell 0.55 percent in early trade on Friday, hitting a new historical low against the dollar, and the country's stock market indexes also dropped, following weaker oil prices.At 0710 GMT, the rouble was around 0.66 percent weaker against the dollar at 56.82 and down 0.83 percent to trade at 70.50 versus the euro.The RTS index fell more than 4 percent to 791 points and the MICEX index was 1.64 off at ...
Dollar gets respite vs yen after pull-back LONDON: The dollar found a footing against the yen on Thursday after three volatile days in which investors taking profit on this year's gains for the U.S. currency pushed it back roughly 3 percent.The major currency pairs were broadly steadier, with New Zealand's dollar falling back from an almost two-week high of $0.7872 hit after the central bank surprised markets by saying it was still looking at raising interest rates again.Another policy decision, the Swiss ...
Rouble edges lower before central bank rate decision MOSCOW: The rouble edged lower on Thursday, adding to the previous session's heavy losses, but market expectations for the Russian central bank to raise rates at its policy meeting later in the day kept losses in check.At 0925 GMT, the rouble was around 0.2 percent weaker against the dollar at 54.96 and lost around 0.1 percent to trade at 68.28 versus the euro.The rouble earlier touched all-time lows on the Moscow Exchange against both currencies. ...
Sterling dips as dollar gets a respite, but surges vs Norwegian crown LONDON: Sterling fell against the dollar for the first time in four days on Thursday, as a sell-off seen in the greenback waned and on expectations that interest rates in Britain will stay lower for longer.Fresh evidence that the housing sector was moderating was also keeping the currency under pressure. British house prices grew at their slowest rate in a year and a half during the past three months, a property industry body said on ...


Index Closing Chg%
Arrow DJIA 17,804.80 0.15
Arrow Nasdaq 4,765.38 0.36
Arrow S&P 2,070.65 0.46
Arrow FTSE 6,545.27 1.23
Arrow DAX 9,786.96 0.25
Arrow CAC-40 4,241.65 0.18
Arrow Nikkei 17,621.40 2.39
Arrow H.Seng 23,116.63 1.25
Arrow Sensex 27,371.84 0.90

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln