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Money Market Commentary Money market initiated at the level of 12.00% --12.50%. In Repo, major deals were done in the range of 11.50%--12.00%. Money Market closed at the level of 11.50%--11.75%. SBP announced 8 days OMO and injected PKR 10.05 bln @12.20% against total participation of PKR 15 ... |
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Swiss franc to retest peak vs euro ZURICH: The Swiss franc on Thursday was poised to retest the previous day's historic high against the euro, as uncertainty about the global economy continued to haunt investors and European stock markets were expected to ease.
The franc, which investors regard as a safe haven, has been rallying against the euro in recent weeks, as worries about a slowdown of economic recovery in the United States have been compounded by jitters about euro-zone banks. ... |
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Singapore $ hits record peak; won at 1-mth high Asian currencies
SINGAPORE: Increased fund inflows propelled the Singapore dollar to a record high on Thursday, while the South Korean won hit a one-month high despite the central bank's surprise decision to keep interest rates steady. The Singapore dollar hits record high of 1.3411 per US dollar, buoyed by fund inflows and a broadly weaker US dollar. ... |
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Yuan up; US pressure for yuan rise renews SHANGHAI: The yuan closed up against the dollar on Thursday after the People's Bank of China fixed a stronger mid-point to reflect an overnight dollar fall in global markets. But dealers said the Chinese central bank's strong fixing was not a response to fresh US pressure for the yuan to appreciate. ... |
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Taiwan $ tracks Asia higher TAIPEI: Easing concerns about the European banking sector following successful bond auctions propped up the Taiwan dollar and other Asian assets on Thursday, with focus shifting to China trade data due on Friday.
The Taiwan dollar ended at T$31.939 against the US dollar versus Wednesday's close of T$31.979 as fears of a euro-zone sovereign debt crisis flare-up eased and investors parked money in Asia's risk-linked assets. ... |
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Indian rupee surges tracking Asian peers MUMBAI: The Indian rupee ended at day's high on Thursday, boosted by gains in Asian peers, strong capital inflows and weak dollar overseas. The partially convertible rupee ended at 46.47/48 per dollar, after moving in a wide 46.4700-46.6050 band, up 0.34 per cent from Wednesday. ... |
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Australian $ scales peaks on US$, euro on jobs surge SYDNEY: The Australian dollar leapt to lifetime peaks against the euro and four-month highs on the US dollar on Thursday after spectacular domestic jobs data revived talk that interest rate hikes were in the offing.
The August jobs report beat expectations on all fronts with a near 31,000 jump in total employment and an over 53,000 surge in full-time employment, while unemployment unexpectedly dipped to 5.1 per cent. ... |
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Crude oil tops $75, extends gains on US data EIA says crude inventories unexpectedly fall
LONDON: Oil rose above $75 a barrel on Thursday, hitting a three-week high, as it drew strength from a surprise decline in US crude stocks, as well as from stronger-than-expected US job and trade data. ... |
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Gold recovers losses, safe-haven appeal intact LONDON: Gold was little changed within sight of its recent all-time highs on Thursday, recovering from an earlier drop on upbeat US labour data as investors remained unconvinced of the resilience of the world's largest economy.
Gold has risen by some 15 per cent in 2010 as economic uncertainty has unleashed a wave of investment in perceived safe-haven assets. ... |
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NY cotton ends softer in mild retreat NY cotton early-trade
ICE December cotton futures fell 0.28 cent to 90.28 cents per lb on volume of 2,411 lots.
NEW YORK: Cotton futures finished easier on Wednesday on mild profit-taking after the previous session's 2-1/2-year high, with traders awaiting a government crop report this week to dictate the next move, brokers said. ... |
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