DUBAI: Rare public disagreement between the United Arab Emirates and Saudi Arabia over OPEC policy points to a growing economic rivalry between the two largest Arab economies which only looks set to intensify, several regional analysts said. The UAE‘s opposition this weekend to a proposed eight-month extension to output curbs, favoured by Saudi Arabia, was
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New Zealand Dollar is the star winner in Asian session today on RBNZ rate speculations. The Kiwi has taken Aussie higher today, but the latter lost some steam after unsurprising RBA policy decision. Though, Aussie is still maintaining most of gains, together with Sterling. On the other hand, Dollar, Yen and Euro are the weakest
PM Johnson announces the end of UK restrictions on July 19 The pandemic is far from over We are seeing cases rise We must reconcile ourselves to more deaths from Covid Our vaccines have helped to break the link between disease and death if we cannot reopen our society in the next few weeks, then we must
DUBAI: OPEC+ ministers called off oil output talks on Monday after clashing last week when the United Arab Emirates balked at a proposed eight-month extension to output curbs. Saudi energy minister Prince Abdulaziz bin Salman on Sunday called for “compromise and rationality” to secure a deal after two days of failed discussions last week. But
Overall, the forex markets are relatively mixed today and trading will probably continue to be subdued with US on holiday. Sterling is currently the stronger one, followed by Yen and Aussie. Canadian is the weakest, followed by Kiwi and then Swiss. Eurozone is mixed despite strong investor sentiment data. But all major pairs and crosses
The greenback recovers slightly to start the new week The US jobs report on Friday didn’t do the dollar much good as it was the weakest performer at the end of last week, trailing behind the major currencies bloc. To be fair, there wasn’t much to digest in the report with the headline figure holding
NEW DELHI: Gold prices were subdued on Monday after hitting a two-week high, weighed down by a slight uptick in the dollar. The yellow metal posted tepid gains in the domestic markets. US companies hired the most workers in 10 months in June, raising wages and offering incentives to entice millions of unemployed Americans sitting
Important decisions will be made at this week’s RBA meeting. All monetary policy measures would remain unchanged. Yet, as indicated in June, policymakers would discuss on the format of QE purchases after completion of the current tranche in September, and the maturity of bonds in yield curve control. While the overall tone of the meeting
The oil talks on Thursday (1 July) were delayed until Friday and after no agreement was finalised they’ll continue on Monday. The United Arab Emirates blocked a final deal, long story short is the country wants a greater share of output. Negotiations were centring on 400,000K barrels of increased production in August, and then the
Sales volume of real-time power market (RTM), which allows consumers to buy power just one hour before delivery, jumped over three-fold to 1,726 million units in June compared to the year-ago month at (IEX). The RTM was launched last year on June 1, and had witnessed sales of 515 MU in the first month of
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
LONDON/DUBAI/MOSCOW: OPEC+ will resume talks on Monday after failing to reach a deal on oil output policy for a second day running on Friday because the United Arab Emirates blocked some aspects of the pact. The standoff could delay plans to pump more oil through to the end of the year to cool oil prices
Dollar’s rally continues to make progress, one step at a time. Solid job report overnight helped lift the greenback through near term resistance against Euro and Yen. Nevertheless, reaction in stocks were subdued. Focus will now turn to ISM manufacturing today for more inspirations. Meanwhile, commodity currencies and Swiss Franc are currently the weakest for
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
The Bureau of Indian Standards (BIS) website and FAQs do not capture many key points on hallmarking, discussed between the gems and jewellery industry and the government, causing confusion and disruption amongst jewellers, All India Gem and Jewellery Domestic Council (GJC) said on Saturday. In this regard, the industry body has written to Union Minister
Dollar ended as the strongest one last week but Friday’s steel fall after solid non-farm payroll job reports suggests that it’s rally is already losing steam. It’s still a bit early to call a bearish reversal for the greenback. Yet, strong risk-on sentiments could cap Dollar’s upside attempts ahead, and even trigger a deeper pull
Forex news for North American trading on July 2, 2020 In other markets as the week comes to a close shows: Spot gold is trading up $10.69 or +0.6% at $1787.29. Spot silver is up $0.44 or 1.69% $26.45 WTI crude oil futures are trading down nine cents or -0.11% at $75.15 Bitcoin is trading down $293