US dollar falls to lowest level in 8 weeks due to faded hopes of raising interest rates

The US dollar extended the decline of European market on Friday, extending losses for a third consecutive against a basket of major currencies and secondary schools for the day, its lowest level in eight weeks due to fading hopes of raising US interest rates during September and the increasing likelihood of postponement filed for next year, the dollar was steady Canadian against the US counterpart within a limited scale such as consumer prices and retail sales data in Canada. The US dollar index is trading by the time 11:55 GMT on the level of 95.45 points from the opening level of 95.77 points, scored 95.80 points, the highest level and the lowest level of 95.31 points, the lowest since June 30. The index yesterday fell by 0.8 percent in the second daily loss in a row with the continued sale of US currency operations after the last meeting of the Federal Reserve Minutes explained the difficulty of raising interest rates in September next September in light of the weakness of the labor market data and away the pace of inflation from the normal level. Figures released showed today in Beijing deepen the contraction of the Chinese manufacturing sector during August and registered its lowest level since 2009, in a new negative sign for the growth of the second largest economy in the world, which could push the Bank of the people, "the Chinese central bank" more stimulus measures, especially the cut New to the value of the yuan, which may lead to ignition global currency war, and the increasing likelihood of postponement raise US interest rates until next year.

Decline in US industrial PMI

Released from the US economy reading industrial purchases for the month of August / August Managers Index with a value of 52.9 against the value of 53.8 in the previous reading for the month of July last, and so the current reading is worse than analysts' forecasts, which pointed to the widening Almadhar to $ 53.9.

Gold prices rise to its highest level in six weeks

شاهد فيديو الان !

Gold prices rose significantly for the third consecutive session amid falling US dollar index for the third straight session, according to the inverse relationship between them following the developments in Athens and economic data that Tbanha Friday from the US economy, which showed decline in industrial purchasing managers index during August / August other than expectations. Promptly at 9:25 pm GMT Gold futures showed deliver 15 December / December rose to trade at 1,159.22 $ an ounce compared with the opening levels at 1,153.16 $ an ounce after it achieved the highest level since the seventh of July last at 1,168.24 $ an ounce, while the minimum achieved her during the trading session at $ 1,148.95 per ounce.

China's central bank injects liquidity in the financial markets

The Chinese central bank injected amounts of liquidity in the banking system by using open market operations for the first time two months ago, after the Chinese sovereign debt sales failed to raise liquidity in the market planned to target him.   China's central bank show the amount of 35 billion yuan ($ 5.6 billion) through reverse repurchase operations Bajil seven days through an auction today was the last day was the implementation of such operations in April / April 16 last.   The Ministry of Finance has sold bonds Bajil two years worth 25.16 billion yuan on Wednesday, less than the target value of 26 billion yuan, the first auction for the sale of government bonds fails to achieve his goal since the month of July of last year.   China's central bank and the government aimed to pump liquidity into the financial markets and the banking system in order to maintain the low borrowing costs and in light of the increasing demand by commercial banks on the liquidity to meet the large withdrawals end of the second quarter of the year.   This has made China's central bank cut interest rates three times since November last, in addition to reducing reserve requirements for Chinese banks to contribute to reducing the pressure on the Chinese economy, which is the lowest growth rate since 1990.   The cost of the difference in interest rates for the year, a rate that is paid in exchange for a fixed repo operations have decreased the basis of two points to reach 2.56 percent, after pumping money operations.

The US dollar declined from the highest level in two weeks and attention on growth data

The US dollar extended the decline of European market on Wednesday within corrections and rebound from the highest level in two weeks registered yesterday against a basket of currencies and awaits investors US economic growth data for the first quarter of this year, the European currency rose euro optimistic about solving the Greek debt crisis at a meeting of finance ministers the European Union.

The US dollar index is trading by the time 11:50 GMT on the level of 95.29 points from the opening level of 94.56 points and recorded the highest level of 95.65 points and 95.11 points, the lowest level.

And achieved the dollar index during trading yesterday, up by 1.2 percent the largest daily gain since the middle of last month, and in the third daily gain in a row, to its highest level in two weeks 95.87 points, with the support of strong data for the Gaza US housing and statements Jerome Powell, one of the members of the monetary policy makers Federal Reserve " US central "and which he asserted that the US economy has become ready to raise interest rates during the current year.

The US economy is expected today growth data for the first quarter with a final reading of GDP by the issuance at 12:30 GMT is expected to contract 0.2 percent after the previous reading recorded a contraction of 0.7 percent, recorded the largest economy in the world growth rate of 2.2 percent during the last quarter of last year.

US economy shrinking in line with expectations - first quarter

Released from the US economy at 12:30 GMT, the final reading of GDP contraction in the first quarter registered a rate of 0.2 percent, in line with expectations, which pointed to a contraction rate of 0.2 percent, recorded the previous reading shrinking at a rate of 0.7 percent, is worth mentioning that the US economy has grown at a rate of 2.2 percent during the last quarter of last year.

Report and EIA crude oil stocks

Released from the US economy and the EIA crude oil stocks, which explained deficit in stocks of about 4.9 million barrels during the elapsed on 19 of June this against a deficit of about 2.7 million barrels in the previous weekly reading, other than the analysts' forecasts when the deficit by about 1.8 million barrels report, and bringing the total crude oil stocks to around 463 million barrels and is near the highest level in eighty years.
On the other had, motor gasoline rose to the United States by about 0.7 million barrels, to remain higher than the average range for this time of year, as the IAEA report said on Wednesday that distillate products, which include heating oil stocks rose by 1.8 million barrels for longer within the medium term for this time of year.