Egypt prepares to tackle seasonal air pollution in Nile Delta    Egypt's Sports Minister unveils national youth and sports strategy for 2025-2032    27 Western countries issue joint call for unimpeded aid access to Gaza    Egypt, Jordan to activate MOUs in health, industrial zones, SMEs    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt, Uganda sign cooperation deals on water, agriculture, investment    Egypt–Jordan trade hits $1 billion in 2024: ministry report    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egyptian pound closes high vs. USD on Tuesday – CBE    Edita Food Industries Sees 72% Profit Jump in Q2 2025, Revenue Hits EGP 5 Billion    Egypt, Colombia discuss medical support for Palestinians injured in Gaza    Australia to recognise Palestinian state in September, New Zealand to decide    Trump orders homeless out of DC, deploys federal agents and prepares National Guard    Egypt, Germany FMs discuss Gaza escalation, humanitarian crisis    Egypt, Huawei explore healthcare digital transformation cooperation    Global matcha market to surpass $7bn by 2030: Nutrition expert    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt's govt. issues licensing controls for used cooking oil activities    Egypt to inaugurate Grand Egyptian Museum on 1 November    Oil rises on Wednesday    Egypt, Uganda strengthen water cooperation, address Nile governance    Egypt's Sisi: Egypt is gateway for aid to Gaza, not displacement    Egypt, Malawi explore pharmaceutical cooperation, export opportunities    Korean Cultural Centre in Cairo launches folk painting workshop    Egyptian Journalist Mohamed Abdel Galil Joins Golden Globe Voting Committee    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







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Asia markets mixed, Aussie dollar strengthens after RBA holds rates unchanged
Published in Amwal Al Ghad on 07 - 03 - 2017

Asian shares wavered on Tuesday as investors ponder increased expectations that the Federal Reserve could tighten monetary policy next week.
Market expectations for a rate hike were 86.4 percent on Tuesday Asian time, according to the CME Group's FedWatch tool.
U.S. factory orders rose 1.2 percent month-on-month and durable goods orders climbed two percent, both beating the market consensus.
"Better-than-expected numbers led the market to believe that the Fed will have more reason to raise the interest rate in the FOMC meeting next week," said Margaret Yang, market analyst at CMC Markets, in a Tuesday note.
Down Under, the ASX 200 returned to the green after a negative start, to trade up 0.36 percent after the Reserve Bank of Australia (RBA) left the cash rate unchanged at 1.50 percent.
The RBA statement by Governor Philip Lower stated that the improvement in the global economy has contributed to higher commodity prices, which are providing a significant boost to Australia's national income.
The Australian dollar strengthened from $0.75 handle to fetch $0.7604 after the statement release.
The Nikkei 225 was down 0.15 percent, extending Monday's losses.
In South Korea, the Kospi advanced 0.5 percent, even as geopolitical and political tensions continue to simmer.
The special prosecutor office said that South Korea President Park geun-hye colluded with a friend to take bribes from Samsung Group, aimed at cementing Samsung Chief Jay Y. Lee's control of the country's largest conglomerate, Reuters reported.
The Constitutional Court is expected to make a decision over Park's impeachment as early as this week, while Samsung's Lee will go on trial for bribery and embesslement on Thursday,
North Korea fired four ballistic missiles on Monday morning, angering its neighbors.
The White House responded to the threat on Monday, and said the U.S. would deploy an advanced anti-missile defense system to South Korea to bolster the country's ability to defend against North Korean ballistic missiles.
"Despite recently emerging Korea-China geopolitical risk, we remain positive on the Kospi outlook. Basically, Kospi is a combination of earnings and valuation multiples, and we are still positive on both," said Sean Lee and Brian Lee, strategists at Citi, in a Monday note.
In other news, Malaysia and North Korea have escalated a diplomatic as a row over Malaysia's investigation of Kim Jong Nam's murder escalates.
The Shanghai composite slipped 0.07 percent and Shenzhen composite was down 0.08 percent. Meanwhile, Hong Kong's Hang Seng index was up 0.38 percent.
On Monday, the American president signed a revised executive order banning citizens from six Muslim-majority countries- including Iran, Libya, Syria, Somalia, Sudan and Yemen- from travelling to the U.S., this time removing Iraq from the list.
"In an overnight trading session really devoid of any major market moving news ... there has been some focus on Trump's second attempt at pushing through the controversial travel ban," said Chris Weston, chief market strategist at IG in a morning note.
The Dow Jones industrial average slipped 0.24 percent to 20,954.34, as the S&P 500 closed down 0.33 percent to 2,375.31 and the Nasdaq composite dropped 0.37 percent to 5,849.17.
The dollar index was hovering around 101.62 during Asian trade, while the yen continued to remain under the 114 handle, at 113.9 against the greenback.
Brent crude futures dipped 0.11 percent to $55.95 a barrel while U.S. crude was nearly flat at $53.19, as investors continued to search for direction from news out of the CERAweek energy conference in Houston.
Russian Energy Minister Alexander Novak said on Monday that the production deal with the Organisation of Petroleum Exporting Countries (OPEC) has led to steadier oil price and less volatility, but Russia will not be joining the cartel.
An International Energy Agency (IEA) report said that global oil supply could struggle to keep up with demand beyond 2020, which could spark a new period of price volatility. But this can be avoided if the industry sees more investments globally, IEA's Executive Director Fatih Birol said.
Source: CNBC


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