Browsing: Stock market

Iran’s currency fell to a record low on Sunday, plunging to 613,500 to the dollar, as its people celebrated the Persian New Year.

NEW YORK/LONDON – The dollar headed toward a second week of gains on Friday, after a slight rate hike in Japan gave the yen a slight reprieve and a surprise cut in Switzerland highlighted the gap in interest rate policy between the Federal Reserve and other central banks.

Most stock markets in the Gulf closed higher on Thursday, led by the Saudi index, joining a global rally as investors cheered the U.S. Federal Reserve’s indication that it will still deliver three rate cuts this year. The Fed kept borrowing costs unchanged on Wednesday and signaled they still expect to ease interest rates by three-quarters of a percentage point by the end of 2024.

The dollar-to-ruble rate dropped by 1.1% to 91.8 rubles, while the euro-to-ruble rate we down by 1.16%, to 100.05 rubles

Wall Street’s main stock indices pulled back Friday after a slew of data this week dampened hopes for earlier rate cuts from the Federal Reserve, while European equities held near recent highs.

NEW YORK – The dollar rose to a more than one-week high on Friday after a mixed batch of data showed the U.S. economy remained stable with small pockets of weakness, suggesting the Federal Reserve could keep interest rates higher for longer or reduce the planned number of rate cuts this year.

Stock markets in United Arab Emirates declined on Friday, in line with global equities after a bigger-than-expected hike in U.S. inflation dashed hopes of early rate cut. MSCI’S global equity index was down 0.2%, while Hong Kong’s Hang Seng Index slid 1.4%. The mood turned cautious after a bigger-than-expected rise in producer prices in U.S. data on Thursday added to a hot consumer inflation reading earlier in the week.

MSCI’S global equity index was down 0.2% on Friday and flat for the week, following a strong rally for most of the first quarter of the year

Trading volumes of Saudi equities have unexpectedly surged this year in a big boost to the stock exchange operator Saudi Tadawul Group Holding Co.

Bitcoin raced to an all-time peak above $72,000 Monday as the world’s most popular cryptocurrency won further support on greater trading accessibility and dollar weakness.