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Sterling falls on dovish BoE report; euro's struggles go on LONDON: Sterling fell on Wednesday after a Bank of England report forecast subdued growth in wages in coming months, leading markets to push back until early next year expectations of when monetary policy will tighten.The euro also struggled after disappointing data on euro zone industrial output, and the yen weakened against the dollar as markets digested a report that showed Japan's economy contracted in the April-June quarter.Sterling fell to a 10-week low of $1.6716 against the dollar to $1.6825, a far cry from its July peak of $1.7192 which was its highest level since late 2008. It also fell against the euro, with the single currency rising by 0.3 percent to trade at 79.81 pence.The Bank of England's Inflation Report, which raised growth prospects but slightly lowered inflation forecasts. And it cut forecasts for wage growth and added that a pick-up in earnings would help to determine the timing and ...

Ukraine currency hits record low against dollar KIEV: Ukraine's national currency fell Tuesday to a record low against the dollar, the central bank said, as fierce fighting in the east provoked "panic" among the population.The National Bank of Ukraine said that the average exchange rate it calculates based on interbank transactions had dropped to 13.14 per dollar. The hryvnia also plunged to 17.58 per euro.Central bank governor Valeriya Gontereva told an emergency session of parliament "there is no economic factor that would ...
Sterling hits 2-month low, caution ahead of BOE Inflation Report LONDON: Sterling hit a two-month low against the dollar on Tuesday as investors awaited Wednesday's important Bank of England Inflation Report and UK labour market data for signs of when interest rates might rise.The report should provide a steer on the bank's intentions for rate hikes, which it has said would be modest and gradual when they come. But data showing wage growth - a driver of inflation and a marker of how much slack ...
Turkish lira weakens as markets focus on economic policy outlook ISTANBUL: The Turkish lira eased against the dollar on Tuesday on investor concerns that Prime Minister Tayyip Erdogan's victory in Sunday's presidential election could have an impact on monetary policy and the make-up of the economic management team.In comments that unsettled investors on Tuesday, Economy Minister Nihat Zeybekci, who is responsible for foreign trade, criticised Fitch ratings agency for underlining political risks in a report published on Monday.The lira eased to 2.1618 against the dollar ...
Poor German data pushes euro towards 9-month lows against dollar LONDON: The euro fell towards 9-month lows against the dollar on Tuesday, hurt by a plunge in German analyst and investor morale in August which added to signs of a slowdown in the euro zone recovery.The German ZEW survey showed both the current situation index and the expectations index deteriorated sharply, as Europe's largest economy was hit by uncertainty caused by the Ukraine crisis.Economic sentiment fell for an eighth consecutive month to 8.6 in August, ...
Rouble weakens as Russian aid convoy sparks Ukraine tension MOSCOW: The rouble weakened and dollar-denominated Russian shares fell on Tuesday, dragged lower by tensions over a Russian aid convoy heading to east Ukraine.President Vladimir Putin's spokesman said Kiev had agreed to Russia sending the convoy of about 280 trucks to Ukraine, where government forces are closing in on pro-Russian separatists in two eastern regions.However, a Ukrainian government source said there had been no such agreement and a presidential spokesman said Kiev would not allow ...
Euro heads towards 9-month lows, Germany's ZEW survey seen weak LONDON: The euro fell towards 9-month lows against the dollar on Tuesday, as investors positioned for a weak German sentiment survey that is likely to add to signs of a slowdown in the euro zone recovery, specifically in Germany.The German ZEW survey for August will be released at 0900 GMT and both the current situation index and the expectations index are both forecast to have fallen, as many expect Europe's largest economy to be hit ...


Index Closing Chg%
Arrow DJIA 17,079.57 0.25
Arrow Nasdaq 4,557.70 0.26
Arrow S&P 1,996.74 0.17
Arrow FTSE 6,805.80 0.36
Arrow DAX 9,462.56 1.12
Arrow CAC-40 4,366.04 0.66
Arrow Nikkei 15,459.86 0.48
Arrow H.Seng 24,741.00 0.71
Arrow Sensex 26,638.11 0.29

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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