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Euro climbs vs dollar on fiscal cliff optimism  LONDON: The euro traded near a 7-1/2 month high against the dollar on Tuesday on signs of progress in talks to avert the US "fiscal cliff" and on improving investor demand for euro zone assets.   Optimism that US policymakers can reach a deal to avert a combination of tax hikes and spending cuts that risk tipping the world's largest economy into recession prompted market players to sell the highly liquid dollar, which is seen as a safe haven.   The improvement in market sentiment lifted the euro and also boosted demand for European shares while pushing Spanish and Italian bond yields lower.   Some strategists said year-end investment flows could help the euro extend its gains to test the late March high just below $1.34, although concerns about the euro zone's weak growth outlook may leave it vulnerable to selling in the new year.   The euro was last up 0.15 percent on the day at $1.3178, ...

Turkish lira eases on speculation of sharper rate cut  ISTANBUL: The Turkish lira dipped while bond yields were steady on Tuesday, with some investors betting on a sharper 50 basis point cut in the central bank's main interest rate at a meeting later in the day.   The bank has signalled it will make measured cuts in its main one-week repo and overnight borrowing rates, but the evidence of a slowdown in the Turkish economy has been building for a bank that has not been shy ...
Gilts fall on US fiscal optimism, ahead of UK inflation data  LONDON: Gilts followed German Bunds lower on Tuesday, on hopes that US lawmakers were close to reaching a deal to avoid steep tax hikes and spending cuts that could hit the economy, thus threatening global growth prospects.   Bunds slipped in early trade after President Obama made a counter offer to Republicans on Monday that included a major change in position on tax hikes for the wealthy, which saw European shares approach fresh highs for 2012.   "The negotiations ...
Bunds slip on US fiscal deal progress  LONDON: German Bund futures slipped on Tuesday as increasing signs of progress in US budget talks eased demand for low-risk assets.  The prospect of a series of painful automatic tax hikes and spending cuts next year dimmed slightly when US President Barack Obama made a counter-offer to Republicans that included a major change in position, according to a source familiar with the talks.   That spurred some investors to unwind their positions in safe havens such as ...
Sterling at 2-1/2 month high versus dollar, outperforms euro  LONDON: Sterling hit a two-and-a-half month high against the dollar on Monday, with traders saying it was lifted in thin trading by demand from Middle East investors and from companies looking to hedge.   Sterling rose to $1.6216, its highest level since early October, taking it just shy of chart resistance at $1.6218, the Oct. 5 high. More gains could see the pound rise towards the September peak of $1.6310.   Analysts said the pound could see further gains ...
Sterling hits 2-1/2 month high vs dollar, outperforms euro  LONDON: Sterling hit a two-and-a-half month high against the dollar on Monday thanks to demand from Middle Eastern investors that also boosted it against the euro.   Analysts said the British pound could see further gains against a weaker dollar if the so-called US fiscal cliff, a looming combination of tax rises and spending cuts due to kick-in at the beginning of 2013, is not headed off soon.   Sterling hit $1.6202, its highest level since Oct. 5, with ...
Swiss franc hits eight-month high vs dollar    ZURICH: The Swiss franc hovered on Monday, just off an eight-month high against the dollar after the greenback fell broadly on Friday.   "The dollar is unlikely to make up much ground in the days ahead," said Mitul Kotecha, head of foreign exchange strategy at Credit Agricole.   "Running into the end of the year it is clear that the dollar is turning into the biggest loser. In part this reflects year end flows but also the dovish Fed ...


Index Closing Chg%
Arrow DJIA 17,122.01 0.09
Arrow Nasdaq 4,569.62 0.02
Arrow S&P 2,000.12 0.01
Arrow FTSE 6,830.66 0.12
Arrow DAX 9,569.71 0.19
Arrow CAC-40 4,395.26 0.04
Arrow Nikkei 15,534.82 0.09
Arrow H.Seng 24,918.75 0.62
Arrow Sensex 26,560.15 0.44

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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 25, 2014
Reserves $13.925 bln