Arab Today, arab today dollar rises on fed comment
Last Updated : GMT 14:10:26
Arab Today, arab today
Arab Today, arab today

Oil and stocks extend gains

Dollar rises on Fed comment

Arab Today, arab today

Arab Today, arab today Dollar rises on Fed comment

The US dollar
Hong Kong - Arab Today

The dollar on Monday clawed back some of last week's losses against emerging market currencies after a top Federal Reserve official raised the prospect of a 2015 interest rate hike, while hopes for a pick-up in demand helped oil to score more gains.

The greenback tumbled after data at the start of the month showed US jobs creation stuttered in September, complicating the Fed's plan to increase borrowing costs and tempering worries about a withdrawal of investment from developing economies.

Regional equities also surged last week on hopes for easier US monetary policy, bouncing back after their worst quarter in four years. And most markets extended those gains on Monday, with Shanghai enjoying a third straight rally after a week-long holiday.

Global markets went into meltdown in August after China devalued its yuan currency, fanning worries about the state of the world's number two economy, while traders were also on edge over the expected US rate rise.

On Sunday Fed vice chairman Stanley Fischer said the bank expected to stick to its plan to tighten monetary policy by the end of the year, although he added that the plans were an "expectation, not a commitment".

He added that "both the timing of the first rate increase and any subsequent adjustments to the federal funds rate target will depend critically on future developments in the economy".

While his comments, on the sidelines of the International Monetary Fund's annual meeting in Lima, do not indicate the Fed will lift rates, they show that policymakers continue to keep it a consideration.

The dollar edged up in Asian trade against emerging currencies, including the Australian dollar, Thai baht and South Korean won.

- Rate hike likely delayed -

It also enjoyed advances against Indonesia's rupiah and the Malaysian ringgit. However, the gains were small compared with last losses of about eight percent against the rupiah and almost seven percent versus the ringgit.

"The only data supporting raising the Fed funds rate has been employment, which has begun to shrink in the last quarter," Evan Lucas, a markets strategist at IG Ltd. in Melbourne, said in an e-mail to clients.

"Coupled with increased talks of the approaching debt-ceiling negotiations, not to mention the 2016 presidential elections, all means we are seeing signs of the liftoff being pushed back, as inflation remains nowhere to be seen," he said, according to Bloomberg News.

The weaker dollar has also helped rally oil prices in recent weeks while bets on a pick-up in demand for the commodity provided further uplift.

Crude prices have risen by more than a quarter since hitting a six-year low in August as worries about a stronger dollar, a supply glut and weak demand ease.

In early trade US benchmark West Texas Intermediate rose 58 percent to $49.92 and Brent was up 40 percent to $52.86.

On Sunday the secretary general of oil cartel OPEC Abdullah el-Badri said he was confident the market will be "more balanced" next year as non-OPEC production contracts and global demand rises. However, he did admit the "market remains oversupplied".

His comments come after he said Thursday demand will rise more than projected this year.

In equity trading Hong Kong rose one percent, Shanghai added 1.5 percent and Seoul gained 0.5 percent. Tokyo was closed for a public holiday. However, Sydney retreated 0.7 percent after rising every day last week.
Source: AFP

arabstoday
arabstoday

GMT 13:23 2017 Friday ,20 October

EU leaders approve first step

GMT 19:29 2017 Thursday ,19 October

IMF policies undermine human rights

GMT 19:13 2017 Tuesday ,17 October

GCC public debts reached to $415bn

GMT 10:22 2017 Sunday ,15 October

ADNOC strengthens energy partnership

GMT 17:02 2017 Saturday ,14 October

IMF, Spain warn on economic growth

GMT 05:05 2017 Saturday ,14 October

Saudi Aramco considering ‘range of options’

GMT 07:46 2017 Friday ,13 October

Canada still optimistic for new NAFTA

GMT 19:45 2017 Thursday ,12 October

Economic reform results 'exceed expectations'
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dollar rises on fed comment Arab Today, arab today dollar rises on fed comment

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dollar rises on fed comment Arab Today, arab today dollar rises on fed comment

 



Arab Today, arab today
Arab Today, arab today Arab tradition glitters in Colombia

GMT 12:59 2017 Thursday ,19 October

Arab tradition glitters in Colombia
Arab Today, arab today Barcelona through George Orwell’s eyes

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Tillerson heads to Gulf, downbeat

GMT 09:23 2017 Friday ,20 October

Tillerson heads to Gulf, downbeat
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Actress Shery Adel happy for Egypt’s qualification

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification
Arab Today, arab today Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 07:47 2017 Tuesday ,17 October

Hussein Fahmy happy for honoring in festival

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 18:29 2017 Sunday ,03 September

Designer produced new set of ornaments

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:43 2017 Wednesday ,18 October

Fake dentists ply brisk trade

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 19:29 2017 Tuesday ,29 August

Yomna: decoration leaved positive effects
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday