The News Review:
- FREX-US dollar slides to 2009 low as risk appetite rises
- Nigeria’s Starcomms Q2 losses treble on forex
- WRLD FREX: Dollar Yen Hit By Global ptimism; Eye US GDP
- EMERGING MARKETS-Stocks at 10 month high Latam forex up vs USD
- ANALYSIS-Israel rates could rise before forex purchases end
- Expedia 2Q Earnings Plunge 57% Amid Forex Losses; Shrs Gain
FREX-US dollar slides to 2009 low as risk appetite rises
Reuters
0 percent in Q2 * Business activity in the U. Midwest improves (Updates prices adds sterling) By Gertrude Chavez-Dreyfuss NEW YRK July 31 (Reuters) - The U. dollar fell to itslowest for the year on Friday as higher oil prices steadystockmarkets and data showing an unexpectedly smallcontraction in the U. economy boosted risk appetite andcurbed safe-haven demand for the greenback.
Nigeria’s Starcomms Q2 losses treble on forex
Reuters
01 billion loss a year earlieralthough revenue grew 7 percent to 16. “We actually not only haven’t returned to profitabilitywe’ve shown the bottom line (loss) is clearly due to forex lossfrom naira depreciation” Chief Executive Maher Qubain told CNBCAfrica TV saying data subscribers grew almost 60 percent. The company has exposure to dollar-denominated borrowingwhich it uses to finance hardware imports. Qubain said forexexposure would remain a risk but said it was one that could bemanaged. “Currently we are in the process of converting some of ourdollar denominated borrowings to naira in order to minimise theimpact of the forex losses” he said. Qubain said Starcomms’ dollar-denominated debt stood at $160million with a 3-5 year maturity.
WRLD FREX: Dollar Yen Hit By Global ptimism; Eye US GDP
Wall Street Journal
->WRLD FREX: Dollar Yen Hit By Global ptimism; Eye US GDP ArticleCommentsmore in. Sentiment was also helped by the success of the last of this week’s Treasury auctions Thursday. However analysts said that investors are unlikely to take large positions ahead of U. second-quarter gross domestic data due later in the day.
EMERGING MARKETS-Stocks at 10 month high Latam forex up vs USD
Reuters
dollar after GDP data * Credit spreads widen as U. Treasury market rallies * Credit Suisse cuts Russian stocks to underweight By Daniel Bases NEW YRK July 31 (Reuters) - Emerging market stocks rosein quiet end-of-month trade on Friday as investors took toheart a report showing U. economic activity contracted lessthan expected in the second quarter. Latin American currencies rose against the U.
ANALYSIS-Israel rates could rise before forex purchases end
Forbes
The shekel reached 4. 25 per dollar in late April to completea 25 percent slide from its July 2008 peak. Since then theshekel has recouped 12 percent to 3. 80 and signs the forexpurchases might end would send the shekel soaring. DLLAR WULD DIVE Fischer surprised many market players when he said the Bankof Israel would end its programme of buying government bondswhile still buying foreign exchange. Since the forex programmebegan the market figured it would end first and the shekel haspartly gained on that view. A chief dealer at a large Israeli bank said that the markethas adjusted to life with the daily central bank buying and whenit stops — or as soon as an announcement it will stop comes -the dollar will dive.
Expedia 2Q Earnings Plunge 57% Amid Forex Losses; Shrs Gain
Wall Street Journal
->Expedia 2Q Earnings Plunge 57% Amid Forex Losses; Shrs Gain ArticleCommentsmore in. (EXPE) earnings fell 57% hurt by foreign-currency losses while lower prices for airline tickets and hotel rooms helped spur demand growth. The results beat Wall Street expectations sending shares up 12. 66 in recent trading. The stock has more than doubled this year up about 37% in the past month.
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