The dollar fell against most of its major counterparts as risk appetite increased amid continued speculation that central banks may take further steps to boost economic growth.
The euro rose versus the greenback for a second week, the longest stretch since June, as members of German Chancellor Angela Merkel’s coalition signaled they won’t block European Central Bank President Mario Draghi’s plan to buy government bonds. Stocks rallied as U.S. employers added more jobs than forecast even as the unemployment rate rose to a five-month high. Federal Reserve President Ben S. Bernanke may discuss policy options in an Aug. 31 speech in Jackson Hole, Wyoming.
“Fed easing is still on the table,” Eric Viloria, senior currency strategist at Gain Capital Group LLC in New York, said yesterday in a telephone interview. “Draghi left a lot of uncertainties open. There is going to be some headline-watching now, and we expect the euro to grind lower.”
ADX Index Declines Slightly
The ADX General Index dug in at 4,094.58 points on Wednesday 18th Dec 2013.The index wavering between north and south dropped 9.01 points or 0.22 percent just before the closing bell.
DFM Index Inches Up to Add 2.03 Percent
The DFM index wavering above the break – even line achieved 63.66 points or 2.03 percent in a single session on Wednesday 18th December 2013, closing at 3,207.70.
The benchmark FBM KLCI closed 3.4 points lower at 1,847.5 a
Technip wins $400m Kuwait PMC contract
Technip said it has won a consultancy services contract worth over $400 million from Kuwait Oil Company (KOC) for the construction of its new oil and gas infrastructure facilities, as well as upgradi
SABB gets Fitch ratings boost
Fitch Ratings, a leading rating agency, has affirmed the Saudi British Bank’s (SABB) long term credit rating at “A” with a stable outlook.