The price of the dollar stabilized today, Monday, following investors digested a group of economic data released last week that raised hopes that the Federal Reserve (the US central bank) would slow down the pace of raising interest rates.
Data on Friday showed that non-farm payrolls in the United States increased by 223 thousand jobs in December, while average earnings rose 0.3 percent less than expected and less than 0.4 percent in the previous month.
There were other signs of a slowing economy, with service industry activity in the United States contracting for the first time in more than two-and-a-half years in December amid weak demand.
This led to a decline in the dollar index, which measures the performance of the US dollar once morest six major currencies, by 1.15 percent on Friday. The index rose 0.01 percent to 103,720 on Monday. The index achieved a rise of eight percent in 2022. The Japanese yen rose 0.12 percent once morest the dollar to 131.94 per dollar, while the pound sterling recorded in its last transactions $ 1.2099, up 0.06 percent during the day, following rising 1.5 percent on Friday.
The euro rose 0.11 percent to $1.0656, following closing 1.17 percent higher on Friday.
The Australian dollar rose 0.17 percent once morest the US currency, to $0.689, while the New Zealand dollar rose 0.02 percent, to $0.635.
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117 million dollars, the net purchase of foreigners from UAE stocks, in Monday’s session
written by Alexandra Hartman Editor-in-Chief
Malik Salameh – Mubasher: The net purchase of foreign shares in the UAE financial markets at the end of trading today, Monday, amounted to 430 million dirhams, equivalent to 117.16 million dollars.
Foreign investors carried out purchases on Dubai and Abu Dhabi shares at a value of more than 1.161 billion dirhams, equivalent to 316 million dollars, compared to sales operations worth 731.668 million dirhams, equivalent to 199 million dollars, with a net purchase of 430 million dirhams, according to UAE financial markets data.
The value of foreign purchases of shares in the Abu Dhabi Securities Market amounted to regarding 1.149 billion dirhams, compared to sales of regarding 721.112 million dirhams.
The value of foreign purchases on the Dubai Stock Exchange amounted to regarding 12.664 million dirhams, compared to sales of regarding 10.556 million dirhams.
The net purchase of foreign shares in the Abu Dhabi market amounted to 428 million dirhams, compared to a net purchase in the Dubai market of 2.108 million dirhams.
UAE financial market indices fell by the end of trading on Monday, with investors anticipating inflation data and the US Central Bank’s decision to raise interest rates.
According to the data of the UAE financial markets, the Dubai Financial Market recorded losses amounting to 1.67 billion dirhams, while the losses of the Abu Dhabi market amounted to 30 billion dirhams, with a total market loss of 31.67 billion dirhams, equivalent to 8.62 billion dollars.
The Dubai and Abu Dhabi stock exchanges attracted a liquidity of 2.492 billion dirhams, distributed over 30,383 transactions.
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Expectations of a US Federal Reserve interest rate hike next week • Al Marsad Newspaper
written by Alexandra Hartman Editor-in-Chief
Al-Marsad Newspaper – Agencies: Most gold investors expect the US Federal Reserve to raise interest rates by 50 basis points at its last meeting in 2022, which is scheduled for December 13-14.
Gold prices fell on Thursday, with the dollar recovering slightly, while market participants await further guidance from the Federal Reserve meeting (the US central bank) next week regarding raising interest rates.
Market participants are also awaiting the November CPI report due on December 13th.
“If the result (the Fed’s meeting) is in line with expectations, the market will be relieved that it is not worse than expected,” said Ilya Spivak of Tasty Trade.
“The dollar may decline and that will boost gold a bit,” he added.
Al-Masafi incurred 3.14 million riyals in losses in the third quarter of 2022
written by Alexandra Hartman Editor-in-Chief
Riyadh – Mubasher: The Saudi Arabian Refineries Company announced “refineries” For its transformation into a loss during the third quarter of 2022, compared to a net profit during the comparative period of last year.
According to the company’s financial data, issued on the Saudi Tadawul website today, Thursday, the net loss following zakat and tax amounted to regarding 3.14 million riyals, compared to a net profit of 827.94 thousand riyals.
The company attributed the reason for the decrease in the profit during the current quarter compared to the same quarter of the previous year to the losses of contribution to the Arab Company for Tanks amounting to 501,230 thousand riyals, and to calculating and adding zakat during this period in the amount of 2.30 million riyals.
And on a quarterly basis, the company has turned for a loss; As it recorded a net profit of regarding 21 million riyals in the second quarter of 2022.
With regard to the company’s profits during the first nine months of this year, the company’s net profit following zakat and tax increased to regarding 17.21 million riyals, compared to 18.18 million riyals in the comparative period of last year, an increase of 110.2%.
The company’s revenues increased by 151.6%, to reach 22.12 million riyals, compared to 8.8 million riyals in the comparative period of last year.
And the Saudi Arabian Refineries Company achieved an increase in net profits by 194.3%. during the second quarter From 2022 on an annual basis; As the net profit amounted to 21 million riyals following zakat and tax, compared to 7.14 million riyals in the second quarter of 2021.
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