Mubadala has invested $100 billion in U.S., eyes China: deputy CEO

© Reuters.  Mubadala has invested $  100 billion in U.S., eyes China: deputy CEO © Reuters. Mubadala has invested $ 100 billion in U.S., eyes China: deputy CEO

ABU DHABI (Reuters) – Abu Dhabi state investor Mubadala Investment Co [MUDEV.UL] has invested $ 100 billion in the United States, more than 40% of its roughly $ 240 billion portfolio, Deputy CEO Waleed al-Muhairi said on Tuesday.

“What that tells you is that from our perspective the risk reward equation works in the United States,” he said at the SALT conference in Abu Dhabi, adding that the bulk of the investments are direct, with a small portion indirectly invested through funds.

He said the remaining part of the portfolio is almost equally split between three regions – the United Arab Emirates, Europe and Asia.

Muhairi said Mubadala has invested $ 2 billion in China in 15-16 sectors from its $ 10 billion UAE China fund and could step up investments in the mainland.

“China is the UAE’s largest trading partner, it is an important economic relationship for us,” he said.

Mubadala would want to participate in some “shape, way or form” in the growth of China, which could become the largest economy in the world, Muhairi said.

Technology is a focus for Mubadala, he added.

Mubadala has invested $ 15 billion in Softbank’s (T:) Vision Fund I and recently announced plans to invest $ 250 million through two funds in technology firms in the Middle East and North Africa.

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Forex – U.S. Dollar Unmoved Ahead of Fed Meetings, Looming Tariff Deadline

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Investing.com – The U.S. dollar was unmoved on Tuesday in Asia ahead of central bank meetings and a looming tariff deadline later this week.

The U.S. dollar index that tracks a basket of other currencies was unchanged at 97.610 by 12:30 AM ET (04:30 GMT).

On the radar this week are policy meetings at the U.S. Federal Reserve and the European Central Bank. While the two central banks are not expect to announce any significant changes to their policies, traders will pay attention to clues on whether more easing is in store next year.

On the Sino-U.S. trade front, investors awaited to see whether Washington will go ahead with a planned Dec. 15 tariff hike on Chinese goods.

Bloomberg reported overnight that U.S. Agriculture Secretary Sonny Perdue said Washington is unlikely to impose more tariffs on Chinese exports on Dec. 15.

“We have a deadline coming up on the Dec. 15 for another tranche of tariffs, I do not believe those will be implemented and I think we may see some backing away,” Perdue said, according to Bloomberg.

The EUR/USD pair was near flat at 1.1065, while the GBP/USD pair inched up 0.1% to 1.3151.

The AUD/USD pair and the NZD/USD pair both gained 0.2%.

The USD/JPY pair edged up 0.1% to 108.62.

The USD/CNY pair was little changed at 7.0382, little impacted by data today that showed China’s producer price index was down 1.4% year-on-year, falling for the fifth month in a row. The drop compared with the 1.5% expected decline and the 1.6% fall in October.

Meanwhile, the consumer price index for November jumped 4.5% year-on-year, as food prices skyrocketed 19.1% amid an outbreak of African swine fever.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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Forex: Dollar Surges Against Euro on Stronger U.S. Jobs Report

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Investing.com – The U.S. dollar rallied on Friday as stronger-than-expected U.S. jobs gains last month reaffirmed beliefs that the economy remained on solid footing.

The , which measures the greenback against a trade-weighted basket of six major currencies, rose by 0.35% to 97.75.

The U.S. created jobs last month, topping economists’ forecast of 186,000.

The unexpectedly dropped to 3.5% and wage growth slipped to 0.2% in November, lower than expectations of 0.3%.

Following the stronger-than-expected jobs report, TD economists said the Federal Reserve can sit comfortably on the sidelines after cutting rates three times this year.

“As long as international risks do not intensify and hurt confidence domestically, the American economy will remain in expansion, supported by a healthy consumer,” the firm added.

The , which was already under pressure amid weaker German data, fell 0.45% against the greenback to $ 1.105.

fell 0.12% to Y108.62, while jumped 0.67% to C$ 1.326, with the latter coming under pressure following a weaker-than-expected .

The plunge in the comes amid reports that Bank of Canada governor Stephen Poloz is set to step down just days ahead of the central bank’s .

slipped 0.23% to $ 1.312, giving up some of its gains earlier this week, when the pair hit seven-month highs on bets that the Conservative party in the U.K., led by Prime Minister Boris Johnson, would likely win a majority of the seats in the General Election.

With a Tory majority, Boris Johnson will likely be able to get his Brexit deal approved, ending the current parliamentary deadlock on Brexit, which has weighed on economic activity.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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Forex- U.S. Dollar Falls on Mixed Trade Signals; Pound Rises 

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Investing.com – The U.S. dollar fell on Thursday, as mixed trade signals kept investors at bay.

Earlier in the day, China reiterated its expectations that tariffs should be lifted as part of a phase-one deal, after Bloomberg reported on Wednesday that U.S. officials expect a deal before the latest round of American tariffs takes effect on Dec. 15.

The news was a complete turnaround from comments from U.S. President Donald Trump earlier in the week. Trump said Tuesday that a deal could be made after the 2020 election, sending markets reeling.

The , which measures the greenback’s strength against a basket of six major currencies, slipped 0.2% to 97.458 as of 10:31 AM ET (15:31 GMT). The dollar was lower against the safe-haven Japanese yen, with down 0.1% to 108.75.

Elsewhere, the pound continued to rise due to confidence that the Conservative Party will win the general election on Dec. 12. gained 0.2% to 1.3129, while rose 0.2% to 1.1853.

was up 0.2% to 1.1092, despite a fresh drop in German earlier in the day that point to another weak quarter for the euro zone’s largest economy.

The Canadian dollar was edged slightly higher after data showed that Canada’s slightly narrowed in October. fell 0.1% to 1.3184.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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Forex – U.S. Dollar Falls as Trump Hints at Trade Delay

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Investing.com – The U.S. dollar was lower on Tuesday after comments from U.S. President Donald Trump sparked a flight to safer assets.

The , which measures the greenback’s strength against a basket of six major currencies, slipped 0.1% to 97.680 as of 10:56 AM ET (15:56 GMT). The dollar was lower against the safe-haven Japanese yen, with down 0.4% to 108.55.

Trump told reporters in London that a trade deal may need to wait until after the 2020 election, which is a stark contrast to reports over the last two weeks.

“In some ways, I like the idea of waiting until after the election for the China deal, but they want to make a deal now and we will see whether or not the deal is going to be right,” Trump told reporters in London.

He later said at a press conference with Canadian Prime Minister Justin Trudeau that China wants to make a deal. The U.S. is expected to go through with tariff increases against China on Dec. 15, which could spark more disagreements between the two superpowers.

Elsewhere, the pound rose after opinion polls showed UK Prime Minister Boris Johnson in the lead to win December’s election, which would secure a Brexit deal. gained 0.4% to 1.2980 and was flat at 1.1079. The South African rand extended declines against against the dollar after its economy contracted in the third quarter. jumped 1.1% to 14.6931.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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Wall Street falls after U.S. tariffs on metal imports, soft PMI data

By Arjun Panchadar

(Reuters) – Wall Street fell on Monday after President Donald Trump said he would restore tariffs on metal imports from Brazil and Argentina, while weak domestic manufacturing data fanned worries of a slowing economy in the wake of the U.S.-China trade war.

The U.S. economy’s manufacturing sector contracted for a fourth straight month in November, as new order volumes slid back to around their lowest level since 2012. Construction spending also unexpectedly fell in October.

The figures were in sharp contrast to recent economic indicators that had reassured investors of a resilient domestic economy. Global markets had also cheered an unexpected rebound in Chinese manufacturing earlier in the day. [MKTS/GLOB]

However, Trump’s tweet about restoring tariffs on U.S. steel and aluminum imports from Brazil and Argentina dampened the mood and prompted officials in the two South American countries to seek explanations.

“The concern here is what kind of retaliatory response those countries might have, let alone sort of a re-escalation of these tariff wars in the midst of trying to resolve one,” said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia.

The news sent shares of U.S. steel makers including U.S. Steel Corp (N:) and AK Steel Holding Corp (N:) up 3% and 7%, respectively.

The gains were an exception in a wider selloff, with 10 of the 11 major S&P 500 sectors trading lower. The technology sector () was off 1.3% and was the biggest drag on the benchmark index.

Hopes of an imminent “phase one” trade U.S.-China trade deal and upbeat U.S. economic data sent Wall Street to record highs early last week.

Retail stocks including Target Corp (N:) and Walmart Inc (N:) were in focus, with Cyber Monday sales expected to hit a record following $ 11.6 billion in online sales on Thanksgiving and Black Friday.

At 10:27 a.m. ET the Dow Jones Industrial Average () was down 161.38 points, or 0.58%, at 27,890.03, the S&P 500 () was down 22.50 points, or 0.72%, at 3,118.48 and the Nasdaq Composite () was down 99.57 points, or 1.15%, at 8,565.90.

Among other stocks, Roku Inc (O:) dropped 16.6% as Morgan Stanley (NYSE:) downgraded the video streaming device maker’s shares to “underweight”.

Declining issues outnumbered advancers for a 2.13-to-1 ratio on the NYSE and a 2.34-to-1 ratio on the Nasdaq. The S&P index recorded 16 new 52-week highs and two new lows, while the Nasdaq recorded 50 new highs and 18 new lows.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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Dollar stands tall as upbeat U.S. data trims Fed cut bets

By Tom Westbrook

SINGAPORE (Reuters) – The dollar headed for its highest weekly finish against the safe-haven yen since May on Friday, as data showing the U.S. economy on a firm footing prompted investors to scale back rate-cut bets.

Nerves persisted though, as other major currencies spent the week rangebound, navigating a blizzard of trade-war headlines that offered few clues as to when or how an overdue truce might be agreed between Washington and Beijing.

“There seems to be pretty good optimism around the trade talks going on between U.S. and China,” said William O’Loughlin, a portfolio manager at Rivkin Securities in Sydney.

“Though as we know that can change on a dime…the rally doesn’t feel like a euphoric, super-bullish rally, it does feel like climbing the wall of worry.”

On Friday, the dollar was steady at 109.51 Japanese yen , and if it holds there will post a 0.7% gain for the week and hit its highest weekly close since May 31. Overnight trade was light with U.S. desks closed for Thanksgiving.

The British pound has been the week’s other main beneficiary, adding half a percentage point as Prime Minister Boris Johnson’s Conservative Party has firmed in opinion polls ahead of the Dec. 12 election.

Sterling was steady on Friday at $ 1.2910, while the euro () held at $ 1.1012.

“The market has come to the view that this is Johnson’s election to lose now,” said Chris Weston, head of research at Melbourne brokerage Pepperstone, with expectations he can win with a large margin.

“That said, should any polls call this margin into question, where invariably there will be one or two, then GBP could see a sharp sell-off, although I would be using that weakness to buy.”

The dollar’s strength this week has drawn on hopes that the United States and China are indeed in the process of negotiating a ceasefire in their damaging tariff war, and strong U.S. economic data.

China has vowed to impose “firm countermeasures” after Trump’s approval of a bill backing Hong Kong’s pro-democracy protesters on Wednesday, but is yet to indicate whether they would have any bearing on trade talks.

U.S. growth picked up slightly in the third quarter, data showed on Wednesday, in contrast to other indicators showing a slowdown in global activity.

The Fed also flagged an upbeat outlook amid signs of labor market strength and a possible turnaround in business investment.

That prompted a pullback on rate cut bets for this year and next, with the market now pricing in a 5% chance the Fed will hike rates next month and mostly expecting it to hold steady.

The strong greenback has Australian dollar slightly weaker for the week, but steady on Friday ahead of a central bank meeting on Tuesday, where the market has priced an 11% chance of a cut in interest rates to a record low 0.5%.

It last traded at $ 0.6767, not far above a six-week low hit on Thursday.

The New Zealand dollar was flat on Friday at $ 0.6418 and held its ground for the week, buoyed by rebounding business sentiment.

China’s yuan was steady at 7.0287 per dollar in offshore trade.

Graphic: World FX rates in 2019 (http://fingfx.thomsonreuters.com/gfx/rngs/GLOBAL-CURRENCIES-PERFORMANCE/0100301V041/index.html)

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Forex – U.S. Dollar Stays Little Changed After Strong Data; HK Concerns Weigh

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Investing.com – The U.S. dollar stayed little changed on Friday in Asia following the release of strong economic data earlier this week.

The last traded at 98.250 by 12:45 AM ET (04:45 GMT), down 0.04%. Data showed this week that the U.S. economy grew at a 2.1% annualized rate, compared to 1.9% in the first reading. The data was in contrast to other indicators showing a slowdown in global activity.

In a separate report, durable goods gained 0.6% after falling 1.4% in the prior month.

Sino-U.S. trade progress remained in focus after U.S. President Donald Trump approved two bills that back Hong Kong’s anti-government protestors. While China has vowed to retaliate, it has not taken any action so far and it is unclear if that will have any bearing on trade talks.

The next batch of American tariffs on Chinese goods are due to begin on Dec. 15.

The U.S. equities and bond markets were closed on Thursday for the Thanksgiving Holiday.

The pair was near flat at 1.2915 as U.K. Prime Minister Boris Johnson’s Conservative Party has firmed in opinion polls ahead of the Dec. 12 election.

The pair inched up 0.1% to 1.1011.

The pair slipped 0.1% at 109.45 as falling Chinese and Hong Kong stocks sent the safe-haven yen slightly higher.

The pair and the pair gained 0.1% and 0.4% respectively.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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Forex- U.S. Dollar Treads Water in Holiday-Thin Trade  

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Investing.com – The U.S. dollar was flat on Friday in holiday-thinned trade as U.S-China trade progress remained in focus. But Latin American currencies rermained active, with Brazil’s real seeing more sharp moves.

U.S. President Donald Trump signed a law backing Hong Kong protests on Wednesday despite potential backlash from Beijing as the two superpowers try to resolve their trade differences. Chinese officials have threatened to take “firm countermeasures” and Chinese Vice Foreign Minister Le Yucheng demanded that Washington immediately stop interfering in China’s domestic affairs.

The law threatens to derail progress on trade talks, with the next batch of American tariffs on Chinese goods due to begin on Dec. 15.

The , which measures the greenback’s strength against a basket of six major currencies, was steady at 98.36 as of 10:32 AM ET (15:32 GMT). The dollar was flat against the safe-haven Japanese yen, with at 109.50.

Trading was thin due to the U.S. Thanksgiving holiday on Thursday, with most investors off until Monday.

But in Brazil the real saw another slump, with up 1.01% to 4.2324, despite intervention by the country’s central bank. The currency hit an all-time low of 4.277 this week following an essentially failed “mega” oil auction accelerated the real’s decline.

Meanwhile the pound inched up, with rising 0.1% to 1.2917 and unmoved at 1.1010.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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Forex – U.S. Dollar Inches Up Amid Mild Trade Optimism 

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Investing.com – The U.S. dollar inched up on Wednesday in Asia after President Donald Trump said Washington and Beijing are in the “final throes of a very important deal,” giving hopes that the two sides could soon sign a deal to put a hold on their 16-month trade spat.

However, Trump also reiterated Washington’s support for protesters in Hong Kong, a potential huge sore point with China.

“I’m holding it up because it’s got to be a good deal,” he said in an interview with Fox News. “We can’t make a deal that’s like, even. We have to make a deal where we do much better, because we have to catch up.”

The Chinese Ministry of Commerce said on Tuesday that the two countries had phone calls this week and had “reached consensus on properly resolving relevant issues”, but did not provide any further details.

The call was later confirmed by U.S. officials. But they also said that obstacles still remain.

The inched up 0.1% to 98.270 by 12:40 AM ET (04:40 GMT).

On the data front, U.S. fell for a fourth straight month in November despite expectations of a small rebound.

U.S. consumer spending data is due later in the day, along with GDP, jobless claims and durable goods.

The U.S. equity and bond markets will be shut on Thursday for the Thanksgiving holiday.

The pair slipped 0.1% to 1.1008. Euro area inflation for October is due on Friday.

Meanwhile, the pair also inched down 0.1% to 1.2851.

The pair climbed 0.1% to 109.14. The AUD/USD pair fell 0.2% to 0.6770.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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