Egypt's unemployment rate falls in Q2 '25 – CAPMAS    EGP swings vs. USD in early Sunday trade    EGX launches 1st phone app    Egypt achieves record primary budget surplus of EGP 629bn despite sharp fall in Suez Canal revenues    Escalation in Gaza, West Bank as Israeli strikes continue amid mounting international criticism    Egypt recovers collection of ancient artefacts from Netherlands    Resumption of production at El Nasr marks strategic step towards localising automotive industry: El-Shimy    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egypt, UNDP discuss outcomes of joint projects, future environmental cooperation    United Bank achieves EGP 1.51bn net profit in H1 2025, up 26.9% year-on-year    After Putin summit, Trump says peace deal is best way to end Ukraine war    Egypt, Namibia explore closer pharmaceutical cooperation    Jordan condemns Israeli PM remarks on 'Greater Israel'    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egypt's FM discusses Gaza, bilateral ties in calls with Saudi, South African counterparts    Egypt prepares to tackle seasonal air pollution in Nile Delta    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egyptian, Ugandan Presidents open business forum to boost trade    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt, Colombia discuss medical support for Palestinians injured in Gaza    Egypt, Huawei explore healthcare digital transformation cooperation    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    Egypt's Sisi: Egypt is gateway for aid to Gaza, not displacement    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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Dollar Rises Ahead Of Eurogroup Meeting
Published in Amwal Al Ghad on 08 - 10 - 2012

The dollar advanced modestly against rivals on Monday, as investors took another look at Friday's U.S. jobs data ahead of a meeting of euro-zone finance ministers set for later in the global trading day.
The ICE dollar index , which measures the greenback against a basket of six major rivals, reached 79.477 on Monday, from 79.350 in late North American trading on Friday.
The dollar ended Friday with a small loss, after the U.S. unemployment rate unexpectedly dropped below 8% and the economy added more jobs than previously reported in prior months. Read: Dollar pares losses after good jobs report
“After the initial knee-jerk rally in risk in response to the decline in the U.S. unemployment rate on Friday, risk assets gave up their gains and sold off into the North American close, extending into Asian trading to start the week," said Sue Trinh, strategist at RBC Capital Markets.
“The reaction is consistent with our take on the payrolls report — don't read too much into the fall in the unemployment rate since it was driven by an increase in part-time employment, private payrolls growth remains lackluster, and real wage growth remains flat," she said.
The euro slipped to $1.2992 from $1.3031 in late North American trading at the end of last week.
Ahead of a meeting of euro-zone finance ministers set for later in the global trading day, uncertainty continued over whether Spain will request a bailout.
“Today's Eurogroup meeting is likely to be dominated by discussions surrounding Greece, Spain and Cyprus but we are not expecting any meaningful conclusions to be announced this time," said Trinh at RBC.
Against the Japanese yen , the dollar reached ¥78.55, from ¥78.64 in late trading on Friday.
The British pound reached $1.6111 from $1.6141 while the Australian dollar traded at $1.0162 from $1.0176.
Marketwatch


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