asian currencies gain on positive economic data
Last Updated : GMT 15:22:00
Arab Today, arab today
Arab Today, arab today

Asian currencies gain on positive economic data

Arab Today, arab today

Arab Today, arab today Asian currencies gain on positive economic data

Singapore - Arabstoday

The Singapore dollar and the Chinese yuan gained among Asian currencies last week on signs the region\'s economic recovery is intact even as global financial markets turn volatile. International investors will add to holdings of Singapore bonds, the only economy in Southeast Asia with a top rating from Standard & Poor\'s, Moody\'s Investors Service and Fitch Ratings, Macquarie Group Ltd said in a research note on August 6. Malaysia\'s ringgit rebounded from a one-month low after data last week showed industrial production climbed unexpectedly in June. The yuan had its biggest weekly gain since 2007 after China\'s trade surplus widened in July. Article continues below Non-dollar assets \"Long-term diversification into non-dollar assets is a given although US Treasuries remain the deepest and most liquid market,\" said Sim Moh Siong, a currency strategist at Bank of Singapore Ltd. \"For China, the FX reserves accumulation is becoming an expensive affair and the only way to accumulate less is to allow for more yuan appreciation.\" The Singapore dollar advanced 0.6 per cent last week to S$1.2119 (Dh3.67) against its US counterpart, according to data compiled by Bloomberg. The yuan rallied 0.8 per cent to 6.3895, its biggest weekly gain since December 2007, while the ringgit appreciated 0.4 per cent to 3.0020, its third weekly gain in four. The number of applications for unemployment insurance payments in the US fell to 395,000 in the week ended August 5, the fewest since early April, the Labour Department said. \"The US data offers some breathing space for Asian currencies in a week that\'s rooted in fear,\" said Choong Yin Pheng, manager for economic and bond research at Hong Leong Bank Bhd. in Kuala Lumpur. \"Market sentiment remains fragile and this calm may be only temporary.\" S&P cut America\'s top rating by one level to AA+ on August 5, sparking a global stock-market selloff that wiped out about $7 trillion. ‘All necessary measures\' Policymakers of the Group of Seven nations vowed to take \"all necessary measures\" to support financial stability and the Federal Reserve pledged to retain its near-zero target rate for another two years on August 10. France, Spain, Italy and Belgium imposed a ban on short-selling on Friday to stabilise financial markets. The yuan strengthened beyond 6.40 per dollar for the first time since 1993. Consumer prices in China rose 6.5 per cent in July, the most in three years, while the nation\'s trade surplus widened 41 per cent to $31.5 billion, government reports showed.  

arabstoday
arabstoday

GMT 02:02 2017 Thursday ,23 November

Asian markets rally after Wall St lead, euro struggles

GMT 22:40 2017 Wednesday ,22 November

Bahrain Bourse daily trading performance

GMT 11:50 2017 Tuesday ,21 November

European stocks shrug off Germany's political woes

GMT 03:59 2017 Tuesday ,21 November

Weekly inflation decreases by 0.88%

GMT 23:50 2017 Monday ,20 November

Bahrain Bourse daily trading performance

GMT 14:54 2017 Sunday ,19 November

Bahrain Bourse daily trading performance

GMT 03:16 2017 Saturday ,18 November

Asian markets head for positive end to volatile week

GMT 11:57 2017 Friday ,17 November

US stocks boosted by solid Wal-Mart, Cisco earnings
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*

asian currencies gain on positive economic data asian currencies gain on positive economic data

 



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*

asian currencies gain on positive economic data asian currencies gain on positive economic data

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Air China suspends flights to North Korea

GMT 10:39 2017 Thursday ,23 November

Air China suspends flights to North Korea
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria opposition meets in Riyadh

GMT 06:23 2017 Thursday ,23 November

Syria opposition meets in Riyadh
Arab Today, arab today Online exhibit shows hidden depths of

GMT 11:45 2017 Thursday ,23 November

Online exhibit shows hidden depths of
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today Srebrenica women cry tears of joy

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
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 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Honda recalls 800,000 minivans

GMT 11:43 2017 Wednesday ,22 November

Honda recalls 800,000 minivans
Arab Today, arab today Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 10:43 2017 Wednesday ,22 November

Cigar-shaped asteroid came

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
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