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Oil slides 2 percent on strong dollar, doubts of OPEC output cuts

NEW YORK: Oil prices fell 2 percent on Tuesday to the lowest in nearly a month, extending the previous session’s sell-off as the U.S. dollar strengthened and doubts mounted over whether producing countries would implement of a deal to cut output.

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Dollar at 14-year peak vs. euro on Trump trade, yield allure

TOKYO: The dollar held the upper hand against its major rivals on Wednesday, sitting near a 14-year top against the euro, thanks to bets of higher U.S. growth and a faster pace of interest rate increases under incoming president Donald Trump.

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Oil, dollar and bond yields sharply higher after OPEC deal

TOKYO: Crude prices, the dollar and bond yields were sharply elevated early on Thursday after OPEC agreed to a deal to reduce output to clear a supply glut that has crunched oil prices and stoked global deflationary pressures.

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Asia stocks bounce as optimism over Clinton grows; dollar strong

HONGKONG: Asian stocks bounced and the dollar strengthened on Monday after the FBI said it stood by its earlier recommendation that no criminal charges were warranted against Democrat Hillary Clinton. The news lifted a cloud over Clinton’s presidential campaign two days before the U.S. election, and boosted S&P 500 Index futures by 1.2 percent, a…

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Dollar at nine-month high on bets for Fed hike, Clinton victory

LONDON: The dollar hit a nine-month high against a basket of currencies on Monday, buoyed by expectations that the Federal Reserve will raise U.S. interest rates this year and that Donald Trump will not become the U.S. president. After three straight weeks of gains, the dollar index – which tracks the greenback against a basket of…

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Dollar steps back from seven-month high

TOKYO: The dollar stepped back from seven-month high against an index of currencies on Wednesday after U.S. consumer prices showed underlying inflation moderated slightly, prompting markets to trim bets on a December Federal Reserve rate hike.

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Pakistan to start roadshows Thursday for dollar sukuk

Pakistan will start investor roadshows on Thursday for a potential sale of US dollar-denominated Islamic bonds, aiming to begin the pricing and book-building process next week, the Ministry of Finance said on Wednesday. If successful, the deal would mark Pakistan’s return to the international sukuk market after a two-year absence. It last raised $1 billion…

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Oil prices up in Asia as dollar weakens

SINGAPORE: Oil prices rallied in Asia on Wednesday on the back of a weaker dollar but scepticism that key producers will agree to limit output at an upcoming meeting kept gains in check. The dollar plunged after data Tuesday showed a shock slump in the key US services sector, virtually wiping out any possibility of…

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Oil up 3 percent as US jobs data hits dollar; tumbles on week

NEW YORK: Oil settled up nearly 3 percent on Friday after a weak U.S. jobs report hurt the dollar and boosted commodities, but crude prices still ended the week sharply lower on concerns about oversupply.

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Oil up on US-Iran scare, dollar; Saudi output stance cuts gains

NEW YORK: Oil prices rose 1 percent on Thursday on U.S.-Iran military tensions in the Gulf and speculation the dollar will fall on a monetary policy speech due from the U.S. Federal Reserve chair.

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Dollar nurses losses vs euro after Fed minutes quash hawks’ hopes

WASHINGTON: The dollar wallowed close to eight-week lows against the euro in Asian trade on Friday, poised for weekly losses, after minutes of the U.S. Federal Reserve’s July meeting revealed central bank policymakers were in no hurry to hike rates.

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PSX hits record high

KARACHI: Pakistan stocks edged up to a fresh record closing high on Thursday, led by banking stocks, dealers said. The benchmark 100-share index of the Pakistan Stock Exchange closed 0.14 percent higher, or 55.72 points, at 39,861.60. “Bankings stocks performed on the day, which led the market to close at an all-time high,” said Hammad…

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Dollar edges higher versus euro

NEW YORK: The dollar pushed higher on the euro and the yen was stronger Tuesday as markets girded for monetary policy updates by the Federal Reserve, Bank of England and the Bank of Japan. The Fed should keep rates on hold but could moderate its previously hawkish view on tighter policy when it releases its…

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Dollar rallies, yen slides

NEW YORK: The dollar rallied against most peers Monday at the start of a light US economic calendar week, while the yen fell on fresh suggestions of intervention by Japanese officials. “It’s a new trading week and the US dollar is the strongest currency. For the past three months, the dollar has been beaten down…

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Dollar slips, yen rises ahead of central bank meetings

NEW YORK: The dollar slipped against the euro and the yen Monday in a cautious market ahead of interest rate decisions by the Federal Reserve and Bank of Japan this week. Though the Fed was largely expected to hold ultra-low interest rates unchanged at the end of a two-day meeting Wednesday, traders hoped the post-meeting…

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Oil rises on weakened dollar

SINGAPORE: Oil prices were lifted Wednesday by a weaker dollar after Federal Reserve chief Janet Yellen signalled a cautious approach to US interest rate hikes, but rises were tempered by worries about a supply glut. A US energy department report to be released later in the day is expected to show another rise in US…

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Oil down, dollar strengthens

HONG KONG: Oil prices ticked lower in Asia while Japanese stocks pared early losses as the dollar strengthened in thin trade Monday, with most markets across the region closed for the Chinese New Year holiday. A report Friday showing the US jobless rate had fallen to an eight-year low and wage growth picked up fuelled…

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Oil up as weak dollar offsets supply concerns

SINGAPORE: Crude prices rose Friday as a weaker US dollar offset concerns over a global supply glut and diminishing hopes of a near-term deal by major petroleum producers to cut output. At around 0350 GMT, US benchmark West Texas Intermediate for delivery in March was 16 cents, or 0.5 percent, higher at $31.88, while Brent…

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Dollar extends gains after Fed’s historic rate hike

TOKYO: The dollar extended its gains in Asia on Thursday after the US Federal Reserve’s landmark decision to lift interest rates for the first time in nearly a decade. The decision ended months of market uncertainty and reflected the central bank’s growing confidence in the world’s top economy. “This action marks the end of an…

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Rupee gains 75 paisas against dollar

KARACHI: The Pakistani rupee continued its upward trend Tuesday against the US dollar in the interbank market, Samaa reported. According to our correspondent, the rupee was trading up 75 paisas at Rs104.15 to a dollar in the interbank official market. In the last two sessions, the rupee’s value has overall appreciated by Rs1.38 against the…

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Turkish lira, stocks soar after Erdogan party election win

ANKARA: The Turkish lira and stocks soared on Monday after President’s Recep Tayyip Erdogan’s Justice and Development Party (AKP) was returned to power in a stunning weekend election victory. The lira was up 4.4 percent at 2.78 to the US dollar in early trade, around its highest level in seven years, after tumbling over 25…

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