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3 US statements in Davos raise concern in world markets

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rocky
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3 US statements in Davos raise concern in world markets

Post by rocky on Thu 25 Jan 2018, 9:23 am

3 US statements in Davos raise concern in world markets






 25 January 2018 03:02 PM
[rtl]From: Noha Al - Nahhas[/rtl]
 
[rtl]Mubasher : Investors around the world are looking to the Swiss city of Davos in conjunction with the annual meeting of the World Economic Forum, but US statements have received more attention.[/rtl]
[rtl] 
From the start of the three-day conference to Friday, US officials have made controversial statements about the dollar and trade in the world's largest economy.
 
The US Treasury Secretary, who expressed his support for the weakness of the US currency yesterday, said: "The weak dollar is good for the US economy."
 
"He does not care much about the weakness of the dollar in the short term, but he is confident of the strong fundamentals of the currency in the long term.
 
International Monetary Fund director Christine Lagarde said she hoped the US Treasury Secretary would explain his comments in support of the weak dollar, noting that US tax cuts are likely to cause the US currency to appreciate.
 
The US Commerce Secretary, who made statements that also caused controversy on the international scene, said that the war of trade has always existed, pointing out that the United States has now reached that war.
 
The comments came hours after President Donald Trump signed an executive order to impose tariffs on US imports of solar panels, a decision that raised global concerns and criticism.
 
For his part, the head of the bank, "JP Morgan," the need to prevent any war of currencies loaded "at any price," noting that the occurrence of this would have a severe impact on the global economy as a whole.
 
The comments were mixed with currency and commodity markets. Gold rose to its highest level in a year and a half, while the greenback fell to a three-year low.
 
By 11:30 GMT, the dollar was down against the euro by 0.06% to $ 1.2415, and fell against the yen at 108.97 yen, or 0.2%.
 
While the greenback fell against the pound sterling at 1.4269 dollars by 0.2%, and fell against the Swiss franc to 0.9422 francs by about 0.3%.
 
The dollar index fell 0.1% to $ 89.115, the lowest since December 2014.
 
US Treasury yields fell, yielding 10-year bonds to 2.641% and yield on two-year bonds at 2.076%.
 
While the yield on 30-year bonds fell to 2.922%.
 
Gold has seen a big rally at the highest level since August 2016. Gold futures rose 0.2% to $ 1364.20 an ounce.
 
The spot delivery price for the yellow metal increased $ 1,359.5 an ounce by 0.08%.




https://www.mubasher.info/news/3218584/3-%D8%AA%D8%B5%D8%B1%D9%8A%D8%AD%D8%A7%D8%AA-%D8%A3%D9%85%D8%B1%D9%8A%D9%83%D9%8A%D8%A9-%D9%81%D9%8A-%D8%AF%D8%A7%D9%81%D9%88%D8%B3-%D8%AA%D8%AB%D9%8A%D8%B1-%D9%82%D9%84%D9%82-%D8%A7%D9%84%D8%A3%D8%B3%D9%88%D8%A7%D9%82-%D8%A7%D9%84%D8%B9%D8%A7%D9%84%D9%85%D9%8A%D8%A9
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rocky
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"Draghi" criticizes the statements of "weak dollar" and warns against exchange rate

Post by rocky on Thu 25 Jan 2018, 9:26 am

"Draghi" criticizes the statements of "weak dollar" and warns against exchange rate volatility
January 2018 06:12 PM
[rtl]Direct : European Central Bank President said that exchange rate fluctuations represent a source of uncertainty, criticizing the US Treasury Secretary 's comments on the dollar.[/rtl]
[rtl] 
Mario Draghi said Thursday that this exchange rate fluctuation requires monitoring its potential impact on the medium-term outlook for price stability.  
 
He continued: "Draghi" that the European Central Bank does not target a specific exchange rate of the single currency, in order to maintain the growth and stability of prices.
 
The Euro has risen to its highest level since October 2014 during today's trading and breached the $ 1.25 barrier.
 
By 3:50 am GMT , the euro was up 0.5 percent at $ 1.2472.
 
Separately, Draghi condemned the US Treasury Secretary's comments on the importance of the weakening of the US currency to the economy, pointing out that a number of monetary policy officials at the bank expressed concern about these statements.
 
US Treasury and trade ministers' comments at the Davos conference raised concerns about global markets, after comments on dollar weakness and trade war.
 
The ECB decided to keep the major refinancing operations and interest rate on Lending and Lending changing at 0.00%, 0.25% and 0.40% respectively.






https://www.mubasher.info/news/3218693/-%D8%AF%D8%B1%D8%A7%D8%AC%D9%8A-%D9%8A%D9%86%D8%AA%D9%82%D8%AF-%D8%AA%D8%B5%D8%B1%D9%8A%D8%AD%D8%A7%D8%AA-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D8%A7%D9%84%D8%B6%D8%B9%D9%8A%D9%81-%D9%88%D9%8A%D8%AD%D8%B0%D8%B1-%D9%85%D9%86-%D8%AA%D9%82%D9%84%D8%A8-%D8%B3%D8%B9%D8%B1-%D8%A7%D9%84%D8%B5%D8%B1%D9%81
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    Current date/time is Sun 19 Aug 2018, 10:49 am