Tiqnea For economic consulting

  • Technical Services
    • Economic Feasibility Studies
    • Supply of equipment
    • Implementation and management of projects
    • Market Stats
    • Technical and executive consulting
  • About Us
  • Contact us
  • English
    • العربية
  • Feasibility study request
  • Register

Login To Tiqnea Company

  • Login
  • Register

Dollar and commodity currencies trampled by oil, virus double shock

  1. Home
  2. Dollar and commodity currencies trampled by oil, virus double shock

09 Mar 2020

Share post

Dollar and commodity currencies trampled by oil, virus double shock

Dollar and commodity SINGAPORE (Reuters) – The dollar dived against the euro and yen on Monday as a slump in oil prices combined with coronavirus fears to drive U.S. yields to once-unthinkable lows.
Oil prices collapsed 30% after Saudi Arabia stunned markets with a pledge to slash prices and boost production following the collapse of an OPEC supply agreement. [O/R]
Panicked investors rushed to the safety of bonds, sending 30-year U.S. yields beneath 1% and 10-year yields under 0.5%, all but eliminating what was once the dollar’s chief attraction. [MTKS/GLOB]

Dollar and commodity

In hectic trade, it fell 3% against the yen to 101.58, its lowest in three years. The euro (EUR=) was last up 1% at $1.1408, while the Australian and New Zealand dollars were down close to 2% with the fearful mood.
“It is totally wild,” said Shafali Sachdev, head of FX Asia at BNP Paribas (PA:BNPP) Wealth Management in Singapore. “Everyone has been expecting it for a while, but just the speed of the move has taken everyone by surprise,” she said.
“This is not a train I want to be getting in front of, and how long it continues and where it goes from here is going to depend on how the situation evolves,” she added, saying further stock falls could drive even more gains in funding currencies.
So far, the yen’s rise has it headed for its largest three-day gain since the depths of the 2008 financial crisis. It is up 9.4% in a dozen trading days.
The gain has raised concerns among policymakers in Japan, where it is bad news for exporters, with a senior finance official telling warning authorities were closely watching trade.
At one point, the Aussie (AUDJPY=) was down 6% at an 11-year low against the yen while the Kiwi (NZDJPY=) fell more than 7%.
The number of people infected with the coronavirus has topped 107,000 across the world as the outbreak reached more countries and caused more economic disruption.
“This fall in the oil price just comes at the worst time, or at least that’s how financial markets are reading it,” said Paul Mackel, head of emerging markets FX research at HSBC in Hong Kong.
“Volatility across assets is overshadowing any type of silver lining from a fall in the oil price,” he said, adding it was hard to tell when fear and nerves would subside.
The Australian dollar last traded at $0.6540, having recovered from its drop to $0.6311, while the dollar last sat at a 17-month low against a basket of currencies (=USD).
Meanwhile, the oil price fall triggered withering sell-offs in oil exporters’ currencies.

The Russian rouble and Mexican peso each fell as much as 6% against the dollar. The Norwegian krone shed 3% to hit a record trough. The Canadian dollar fell 1.6% to 1.3640 per dollar, its lowest since 2017.

The difference between a suitability assessment and a sustainability assessment

The difference between a suitability assessment and a sustainability assessment in a project feasibility study A feasibility study consists of several key points

It greatly helps in the success of this study, as all steps must be implemented and none of them should be ignored

This is because they work in a circular motion, which are rings that complement each other and help in the success of the project when one of the links is lost

This leads to an imbalance and the inability to implement the feasibility study at the same level of feasibility required,

So in this article, we will explain to you what is the difference between a suitability assessment and a sustainability assessment in a project feasibility study.

Watch here

Similar posts

Nikkei rises after gains in US technology stocks

TOKYO (Reuters) – The Nikkei benchmark index made slight gains at the close on the Tokyo Stock Exchange on Nikkei rises after gains  Wednesday, with some tech stocks surging after […]

see more

skilled: A mutation in the Corona virus makes it more contagious, but less lethal

SINGAPORE (Reuters) – A prominent infectious disease doctor said that the new Coronavirus has mutated increasingly A mutation in the Corona  common in Europe, North America, and parts of Asia […]

see more

Global health: The coronavirus outbreak is increasingly being driven by young people

The WHO Regional Director for the Western Pacific Region said on Tuesday that the spread of the Coronavirus global health: The coronavirus outbreak is increasingly being driven by young people increasingly […]

see more

Japanese bank: Dubai’s economy may contract 5.2% in 2020 and grow by 4.3% in 2021

DUBAI (Reuters) – Japan’s Mitsubishi UFG Financial Group said that Dubai’s economy is expected to contract by 5.2 Dubai’s economy percent this year due to the impact of the Coronavirus […]

see more

The rise in the price of “gold” worldwide, will it continue?

Gold rose on Monday morning in Asian trading, supported by signs of slowing economic recovery in the United States The rise in the price and Japan. Gold futures rose slightly […]

see more

Sources: China is ramping up US oil purchases before reviewing the trade deal

(Reuters) – US cargo brokers and Chinese importers said shipments of crude oil China is ramping up  from the United States to China will rise dramatically in the coming weeks, […]

see more

التعليقات:

Do you want to subscribe to the mailing list to receive the latest studies and offers?

About Al-Tiqnea

Technical Economic Consulting Company was established in 2012, it was established by a team of investment professionals to become one of the leading investment companies to provide the best management consulting services to local international companies and institutions. Since its inception, the company has continuously expanded to become one of the largest leading consulting firms in the region through its branches located in the Arab world as well as representative offices in Europe.

Quick Links

  • Home
  • Blog
  • Technical Services
  • Contact us
  • About Us

Contact us

00201200006303 info@tiqnea.com

In front of Water Way - Fifth settlement - New Cairo

All copyright are reserved for (el-tiqnea ) 2012 @