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Euro resilient despite gloomy euro zone growth outlook LONDON: The euro recovered from near nine-month lows against the dollar on Thursday on relief that the euro zone as a whole did not shrink in the second quarter, despite a contraction in its biggest economy, Germany. Though euro area growth stalled in April-June, missing modest expectations of 0.1 percent, the numbers provided some respite for the euro after the weaker than expected data from Germany and France.The latter has failed to produce any growth at all since the start of the year.The final reading for euro area inflation of 0.4 percent in July on an annualised basis, though weak, was in line with expectations. The euro hit a high of $1.3396 after the overall euro zone data, having fallen to $1.3348 after the German numbers, close to a nine-month low of $1.3333 touched last week. "You did see a little bit of a down-move on the German and French ...

Sterling hits 4-month low as pushed-back rate hike expectations nag LONDON: Sterling hit a four-month low against the dollar on Thursday on persistent selling pressure a day after the Bank of England indicated that it is in no hurry to raise interest rates due to subdued wage growth in the economy.So poor is sentiment towards the pound that it also struggled against the euro, which hovered near a 9-month low against the dollar after dismal growth data from Germany and France. The euro, in fact, ...
Pound hits 4-month low after BoE's dovish shift, euro eyes GDP SYDNEY/SINGAPORE: Sterling set a fresh four-month low on Thursday, staying on the defensive after the Bank of England surprised investors the previous day by signalling it was in no hurry to raise interest rates.The pound touched a low of $1.6668, its lowest level since mid-April, and down 3 percent from a near six-year high of $1.7192 touched in mid-July. It last traded at $1.6680, down about 0.1 percent on the day.Wrong-footing the market again, Governor ...
Pound hits 10-week low vs dollar after BoE slashes wages forecast LONDON: Sterling fell to a 10-week low against the dollar on Wednesday after the Bank of England slashed its forecast for wages growth in half and said earnings would help determine the timing and pace of interest rate rises.The new forecast, outlined in the bank's inflation report, prompted markets to push back expectations of when rates will rise. Sterling overnight interbank average rates were pricing in the chance of a February hike, compared with a ...
Sterling edges up before BoE report; euro's struggles continue LONDON: Sterling edged up in early European trade on Wednesday as investors trimmed bets against the currency before a Bank of England report, which may give clues on when the UK will start to tighten monetary policy.The euro struggled near recent lows while the yen fell against the dollar, digesting data that showed Japan's economy contracting in the April-June quarter.Sterling edged up 0.1 percent against the dollar to $1.6825 , pulling away from a two-month ...
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 ...
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 ...


Index Closing Chg%
Arrow DJIA 17,067.56 0.18
Arrow Nasdaq 4,598.19 0.39
Arrow S&P 2,002.28 0.05
Arrow FTSE 6,829.17 0.06
Arrow DAX 9,507.02 0.30
Arrow CAC-40 4,378.33 0.03
Arrow Nikkei 15,668.60 1.24
Arrow H.Seng 24,749.02 0.01
Arrow Sensex 27,019.39 0.57

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 02, 2014
Reserves $13.581 bln