Last Updated: Thursday, November 20, 2008 (Indicative Rates)
Interest Rates
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Fed Funds | 1.00 % |
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Discount Rate | 4.25 % |
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Repo Rate | 2.00 % |
KWD Interbank Offered Rate (KIBOR)
| 1M | 3.31 % | 1Y | 4.06 % | |
| 3M | 3.56 % | 2Y | 4.31 % | |
| 6M | 3.81 % | 3Y | 4.56 % |
Foreign Currency
| 3 Month Offer | 10 YR Treasury | 30 YR Treasury | ||
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USD | 2.17 % | 3.32 % | 3.93 % |
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EUR | 4.10 % | 3.52 % | 4.18 % |
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JPY | 0.91 % | 1.44 % | 2.27 % |
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GBP | 4.09 % | 4.04 % | 4.45 % |
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CHF | 1.96 % | 2.40 % | 3.15 % |
Exchange Rates
| LAST | YTD | |
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/
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1.2492 | -14 % |
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/
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95.22 | -14 % |
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/
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1.4934 | -24 % |
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1.2118 | 7 % |
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0.27230 | -1 % |
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/
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118.95 | -26 % |
Commodities (USD)
| LAST | YTD | |
| Gold Oz | 736.65 | -11 % |
| Silver Oz | 9.24 | -37 % |
| Oil Brl | 48.76 | -48 % |
Stock Markets
| LAST | YTD | ||
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DOW JONES | 7,997 | -39 % |
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NASDAQ | 1,386 | -47 % |
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DAX 30 | 4,354 | -46 % |
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NIKKEI 225 | 7,804 | -49 % |
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FTSE 100 | 4,005 | -37 % |
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CAC 40 | 3,087 | -44 % |
Kuwait Stock
| LAST | YTD | |
| Index | 8,811 | -30 % |
| Bkg. Sector | 9,999 | -29 % |
| Bus. Sector | 17,706 | -16 % |
| Ind. Sector | 5,742 | -30 % |
| Ins. Sector | 3,275 | -4 % |
| Invst. Sector | 9,034 | -43 % |
| Real Est. Sector | 3,875 | -33 % |
Economic Indicators
| Time (KST) | Location | Description | Forecast | Previous |
| 16:30 |
|
Oct CPI mm | 0.1% | 0.1% |
Foreign Exchange
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The euro, weakened against the dollar as worries about a worsening global slowdown prompted investors to shun stocks and other risky assets for the safety of U.S. Treasuries. EUR ended in New York at 1.2502/05 while in the Far East it was trading at 1.2491/93. Support is seen at 1.2440 resistance is seen at 1.2540. |
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The U.S. dollar slipped versus the yen on Wednesday, as worries grew about the ailing U.S. auto industry and a record slide in U.S. consumer prices fanned fears of a deeper recession. JPY ended in New York at 95.84/89 while in the Far East it was trading at 95.21/23. Support is seen at 94.70 and resistance is seen at 95.70. |
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Sterling hit its highest in a week versus a broadly weaker dollar on Wednesday, shrugging off early losses after Bank of England minutes showed a unanimous vote to slash interest rates 150 basis points this month. GBP ended in New York at 1.4953/59 while in the Far East it was trading at 1.4930/38. Support is seen at 1.4880 and resistance is seen at 1.4980. |
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The Swiss franc traded lower against the euro and fell to its lowest level in over a year against the dollar on Wednesday as investors moved into more risky positions after U.S. stocks closed firmer. CHF ended in New York at 1.2128/34 while in the Far East it was trading at 1.2114/21. Support is seen at 1.2060 and resistance is seen at 1.2160. |
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Kuwait let its dinar fall around a mid point of 0.27230 from 0.27160 per dollar, the central bank said. |
Money Market
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In a surprise move, Central Bank yesterday added additional repo facility such as over-night and one month with the intention to provide flexibility in the tenor. Besides, Central bank has also provided one month dollar/KD swap facility which will give additional liquidity to the system. Day-to-day money remained at 1 and 2 % through out the day and week at 2 – 3 %. As usual, most banks were takers including off-shore banks. Activity in the fixed dates was rather thin. No two way quotation was available as banks seemed reluctant to lend out longer period funds. Rates remained at 4 % one month, 4 ¼ % threes and 4 ½ % sixes. Customer deposits continued to fetch premium of around 1 % over inter-bank market. |
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U.S. government debt prices rallied on Wednesday, pushing the 2-year notes yield down to a three-decade low on firming bets that the Federal Reserve will cut rates as the economy worsens and a steady exodus out of riskier assets into Treasuries relatively safe harbor. USD LIBOR was fixed at 1.41 for one month, 2.17 three months, 2.58 six month, 2.65 nine months and 2.75 one year. Treasury yields of 2 years 1.06, 5 years 2.02, 10 years 3.28 and 30 years 3.89. |
Stock Market
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European stocks fell to a 5-1/2-year closing low on Wednesday, led down by banks and commodities on concerns over a deep recession, while profit worries punctured BASF and AstraZeneca. |
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Japans Nikkei average edged down 0.7 percent to a one-week closing low on Wednesday, with high-tech exporters such as Tokyo Electron Ltd hit by a stronger yen and fears a U.S. automaker bailout might not go through dampening trade. |
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Britains FTSE 100 skidded 4.8 percent lower on Wednesday, with banks and oil shares tumbling and as Wall Street took a whipping from a grim outlook for the global autos industry. |
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The Kuwait Stock Exchange gained 228.40 points to close at 8,811.70 points. |
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U.S. stocks plunged to their lowest in five-and-a-half years on Wednesday as investors girded for a lengthy economic downturn and automotive executives predicted a far-reaching calamity without a government lifeline. |
