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Posts tagged: growth

Great Expectations: Growth of domestic banks projected to more than 20%

By , April 13, 2014 2:58 pm

 predicted association of private banks, increase the rate of growth of domestic banks during the current year to more than 20% increase in light of the public’s demand to deal with the push towards raising the level of their capital.
The executive director of the Association Abdul Aziz Hassoun told / JD /: “The banking activity continuously his performance in spite of the circumstances and the crises that beset the country, whether political or security, because an important role in the recycling of funds and support economic processes and moving the wheel of development.”
He added: “The quarterly report of the activity of private banks during the first three months of this year indicates the presence of positive results in the growth rate of private banks with a large turnout by citizens to handle and this is evidence of increased confidence and the culture of the citizens.”
He said: “The rate of growth of domestic banks in the past year was (20%), but in light of the growing trade and banking activities may increase to more than 20% during the current year.” / Finished

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Rupee Rallies on Hopes of Reforms in India, Growth in China

By , March 28, 2014 6:06 am

A heap of 500-rupee banknotesThe Indian rupee rallied today on hopes that a new government will bring reforms that bolster economic growth and attract more investors to the country. Speculations that China will take measures to sustain its impressive economic expansion also helped the currency.

The rupee was rising as investors were hoping that the next month’s elections will bring positive changes to the economic policy of India. It is expected that growth will pick up and the current account deficit will narrow. The rupee also rallied with other Asian currencies after Chinese Premier Li Keqiang said that China is ready to support its economic growth at ”reasonable pace”.

USD/INR went down from 60.18 to 59.87 as of 11:11 GMT today.

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Slow Growth Drags Euro Lower

By , March 24, 2014 6:51 am

Various euro denominationsEuro is dragging today, heading lower as slower growth in the eurozone hurts performance. The German data was disappointing, and as was a PMI reading for the entire eurozone. With the dollar firming, thanks to the latest out of the Federal Reserve, it’s no surprise that the euro is struggling.

A release of preliminary PMI data for March indicates that the eurozone’s reading has slipped from a 32-month high. Even though the eurozone remains in expansion territory, the reality is that things could slip out of that territory fairly easily — and that has some worried.

Additionally, even though data from France is better than expected, things in Germany didn’t go as well as hoped. With the German private sector slowing in March, there are concerns about the entire eurozone because Germany is the largest and most influential economy in the 18-nation currency region.

Euro has received some small support from the indications that the ECB isn’t ready to loosen monetary policy further, but that might change if the recovery continues to move at this slow pace.

At 13:08 GMT EUR/USD is down to 1.3777 from the open at 1.3798 and far from the session high of 1.3828. EUR/GBP is down to 0.8352 from the open at 0.8382. EUR/CAD is down to 1.5453 from the open at 1.5466.

If you have any questions, comments or opinions regarding the Euro, feel free to post them using the commentary form below.

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Japan’s Growth Revised Lower, Yen Suffers

By , March 10, 2014 5:24 am

Various Japanese yen notesThe Japanese yen declined, even though China’s trade data hurt the traders’ sentiment, as Japan’s economic growth was revised down in today’s report, spurring talks that the economy will not be able to sustain its expansion without additional measures, like monetary stimulus and weakening the currency.

Japan’s gross domestic product grew 0.2 percent in the fourth quarter of 2013 from the previous three months, compared to the previous estimate. Annual growth was revised down to 0.7 percent from 1.0 percent. The poor domestic report did not allow the yen to profit from China’s trade data, which hurt riskier currencies and encouraged investors to seek safety.

USD/JPY rose from 103.01 to 103.31 and EUR/JPY went up from 142.92 to 143.30 as of 11:10 GMT today.

If you have any questions, comments or opinions regarding the Japanese Yen, feel free to post them using the commentary form below.

Earlier News About the Japanese Yen:

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GBP Gains on Growth & BoE Outlook, Falls vs. EUR

By , March 6, 2014 11:43 am

20-pound banknotesThe Great Britain pound rose today as positive economic data supported the outlook for stable economic growth, while the central bank kept monetary policy unchanged. The sterling weakened against the euro, which was supported by the monetary policy statement of the European Central Bank.

The Bank of England announced today:

The Bank of England’s Monetary Policy Committee today voted to maintain Bank Rate at 0.5%. The Committee also voted to maintain the stock of purchased assets financed by the issuance of central bank reserves at £375 billion.

Recent economic reports led to speculations that the central bank may raise interest rates rather soon. Today’s data supported such view as the Halifax House Price Index rose 2.4 percent in February, beating expectations. Stephen Noakes, Mortgages Director, commented:

Several factors appear to have boosted demand, such as the improved economic outlook, unemployment falling faster than expected, improvements in consumer confidence and low interest rates.

GBP/USD advanced from 1.6719 to 1.6765 and GBP/JPY edged up from 171.02 to 172.61 as of 17:46 GMT today. EUR/GBP climbed from 0.8211 to 0.8265.

If you have any questions, comments or opinions regarding the Great Britain Pound, feel free to post them using the commentary form below.

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Australian Economic Growth Accelerate, AUD Moves Higher

By , March 5, 2014 11:08 am

A heap of Australian dollarsThe Australian dollar advanced today as nation’s economic growth accelerated, exceeding analysts’ expectations. It supported the outlook that the Australian economy will be able to grow without additional stimulus.

Australia’s gross domestic product expanded 0.8 percent in the fourth quarter from the previous three months. The actual value exceeded the forecast of 0.7 percent and the third quarter’s growth of 0.6 percent. The services index of Australian Industry Group jumped by 5.8 to 55.2 in February, showing that the sector returned to growth.

The Reserve Bank of Australia predicted yesterday that interest rates will likely remain stable in the foreseeable future and today’s data supported such outlook. Some economists even believe that an interest rate hike is possible this year.

AUD/USD rose from 0.8948 to 0.8976 and AUD/JPY advanced from 91.46 to 91.85 as of 16:21 GMT today. EUR/AUD declined from 1.5353 to 1.5296.

If you have any questions, comments or opinions regarding the Australian Dollar, feel free to post them using the commentary form below.

Earlier News About the Australian Dollar:

Forex News

Australian Economic Growth Accelerate, AUD Moves Higher

By , March 5, 2014 11:08 am

A heap of Australian dollarsThe Australian dollar advanced today as nation’s economic growth accelerated, exceeding analysts’ expectations. It supported the outlook that the Australian economy will be able to grow without additional stimulus.

Australia’s gross domestic product expanded 0.8 percent in the fourth quarter from the previous three months. The actual value exceeded the forecast of 0.7 percent and the third quarter’s growth of 0.6 percent. The services index of Australian Industry Group jumped by 5.8 to 55.2 in February, showing that the sector returned to growth.

The Reserve Bank of Australia predicted yesterday that interest rates will likely remain stable in the foreseeable future and today’s data supported such outlook. Some economists even believe that an interest rate hike is possible this year.

AUD/USD rose from 0.8948 to 0.8976 and AUD/JPY advanced from 91.46 to 91.85 as of 16:21 GMT today. EUR/AUD declined from 1.5353 to 1.5296.

If you have any questions, comments or opinions regarding the Australian Dollar, feel free to post them using the commentary form below.

Earlier News About the Australian Dollar:

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Polish Growth Accelerates, Increases Attractiveness of Zloty

By , February 28, 2014 5:57 am

Multiple zloty banknotesThe Polish zloty gained today as nation’s economic growth accelerating, demonstrating that the economy is on track to recovery. The data suggests that an interest rate hike may happen very soon, adding to the attractiveness of the currency.

Poland’s Central Statistical Office reported that gross domestic product rose 2.2 percent in the fourth quarter of 2013 from a year ago after increasing 1.8 percent in the third quarter. The economy expanded 0.8 percent last quarter from the previous three months. Growth gained momentum thanks to the relatively low interest rates and the general recovery of European economies.

USD/PLN fell from 3.0353 to 3.0211 as of 11:36 GMT today.

If you have any questions, comments or opinions regarding the Polish Zloty, feel free to post them using the commentary form below.

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Rand Drops as Economic Growth Projection Lowered

By , February 26, 2014 1:10 pm

100-rand notesThe South African rand dropped today as Finance Minister Pravin Gordhan lowered the economic growth outlook, making nation’s assets less attractive to investors. The general market sentiment was also adverse to the currency.

South Africa’s growth projection for 2014 was lowered to 2.7 percent from the October estimate of 3 percent. It is expected that in three years’ time the government debt may increase to 48.3 percent of gross domestic product from 45.8 percent this year. Economists are worried that the negative outlook can lead to cuts of sovereign credit rating by rating agencies.

USD/ZAR was up from 10.7350 to 10.8432 as of 17:36 GMT today.

If you have any questions, comments or opinions regarding the South African Rand, feel free to post them using the commentary form below.

Earlier News About the South African Rand:

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Yen Drops as Economic Growth Misses Forecasts

By , February 17, 2014 8:43 am

Various Japanese yen notesThe Japanese yen fell today as the nation’s economy disappointed traders, growing slower than was predicted. This led to speculations that policy makers will introduce additional monetary easing and take actions to prevent strengthening of the currency.

Japanese gross domestic product expanded by just 0.3 percent in the fourth quarter of 2013, the same rate as in the third quarter, while market participants have hoped for 0.7 percent growth. Furthermore, expansion of industrial production was at 0.9 percent in December, missing the forecast of 1.1 percent. All the disappointing data led to talks that the Bank of Japan has to step up with additional monetary stimulus to support economic growth.

USD/JPY went up from 101.63 to 101.85 and EUR/JPY rose from 139.35 to 139.54 as of 14:09 GMT today.

If you have any questions, comments or opinions regarding the Japanese Yen, feel free to post them using the commentary form below.

Earlier News About the Japanese Yen:

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