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Volvo raises market outlook after Q2 profit jump

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 Volvo reports higher-than-expected profit and raises sales outlook Swedish truck maker Volvo reported a bigger-than-expected jump in second-quarter adjusted operating profit on Wednesday, and raised its outlook for the European and North American markets. Operating profit before restructuring charges and legal claims was 21.7 billion crowns ($2.12 billion), up from 13.8 billion a year earlier and topping the 18.4 billion mean forecast in a Refinitiv poll of analysts. Volvo said it expects industry-wide sales of 330,000 heavy trucks in the European market this year, and as many in North America, up from an April forecast of 320,000 in each of those markets. CEO Martin Lundstedt said Volvo had been successful in improving margins while managing cost inflation and increased disturbances in the supply chain. However, he also said that Volvo had been restrictive in taking orders, which had led to a decrease of 10% in order intake for the quarter.  

Dollar rebounds on U.S

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  The US dollar has rebounded from a 15-month low after the release of US retail sales data for June. The data showed that although headline sales rose less than expected, the May number was revised higher, and core sales showed more resilience, suggesting continued consumer resilience. The UK inflation data also weighed on the pound, as it showed that inflation fell to 7.9% in June, from May’s 8.7%. While this is still above the Bank of England's 2% target, it is a sign that inflation is starting to cool. The euro also fell back, as the final reading of the June eurozone CPI is expected to confirm that inflation rose 5.5% on the year last month, a drop from 6.1% the prior month. The Bank of Japan is also expected to keep interest rates unchanged next week, which could support the yen. Overall, the dollar is expected to continue to strengthen, as the US economy is showing signs of resilience. However, the pound and euro could see some relief if inflation data continues to c...

The global gold price is at its highest level in 6 months What the Fed will do with it

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 Both futures and spot contracts for the yellow metal jumped by about 2% on Tuesday to reach near six-month highs above the key level of 1,800 dollars per ounce as US consumer price data pointed to a persistent slowdown in inflation from 40-year highs. February gold standard futures contracts on the New York Comex exchange were at 1,826.95 US dollars by 10:32 Eastern Time (15:32 GMT), an increase of 34.65 US dollars, or almost 2%. The session high of 1,836.80 dollars was the highest for gold in the comics since June 27, to record a six-month high. The spot price of gold, which is closely followed by some traders, was at 1,814.87 dollars per ounce, up 33.44 dollars, or about 2%. Sunil Kumar Dixit, chief technical strategist at SKCharting.com "for spot gold, at this stage, the area of 1,810 – 1,800 USD – 1,790 USD has become the current spot support zone, and the price movement is heading for the next major resistance and the target of 1,845 USD,"he said. Gold gained about 200 ...

Gold rises with the support of bets on reducing the pace of US interest rate hike

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 Gold prices rose more than one percent on Tuesday to their highest level in more than five months after data showed a smaller-than-expected rise in US consumer prices, reinforcing expectations that the Federal Reserve (US central bank) will reduce the pace of interest rate hikes. In spot transactions, gold rose 1.7 percent to 1,810.98 dollars per ounce at 1844 GMT, after earlier hitting its highest level since June 30. US gold futures rose 1.9 percent to 1,825.50 dollars. Bob Haberkorn, chief market strategist at RBC Capital Markets, said.JH.Or futures "gold and silver are rising strongly with the support of buying on them as a safe haven, and also due to expectations of a possible slowdown in interest rate hikes". Consumer prices in the United States rose slightly in November amid falling prices for gasoline and used cars, which led to the smallest annual increase in inflation in almost a year. Following the release of the CPI data, the dollar index fell more than one perce...

The price of the dollar in Egypt now..The central bank responded to the draft statement of clients ' accounts for taxes

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 The price of the Egyptian pound stabilized today to record 24.59 pounds to buy and 24.66 pounds to sell at the central bank, days before the meeting of the International Monetary Fund, at which the decision will be made to grant the loan of 9 billion dollars distributed between the IMF and other bodies to Egypt. It provokes a state of instability in the Egyptian economic environment with the rise in gold prices to an unprecedented peak at 2000 pounds per gram before prices fell and there are rumors of a new and complete liberalization of the Egyptian pound against the dollar for Egypt to achieve the list of conditions of the IMF in exchange for receiving dollar support. The price of the dollar in the parallel market CNBC Arabia reported that the dollar prices in the parallel market reached 30 pounds to the dollar and more, while the USDT digital dollar prices against the pound reached the levels of 31 on the Binance digital platform. The central bank responds to the draft law on d...

Gold is rising significantly during the trades, so what are the reasons!

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 Today's transactions witnessed a clear rise in gold prices, thus abandoning the relative decline that the yellow metal witnessed during early trading, in light of the growing prospects of a possible global economic recession. On the margin of trading, spot gold contract prices grew by approximately 0.24% to reach USD 1790 per ounce, in addition to an increase in gold futures contract prices to approximately USD 1802 per ounce, and silver contract prices rose by about 1.64% to 23.2 dollars per ounce. The reasons for the recovery of demand for gold during trading The recovery of gold prices is due to the decline in the US dollar index during today's trading, where the index fell by 0.26% to settle near the level of 104.84 points, which boosted gold's gains during trading. Most often, the decline in the US dollar results in a decrease in the cost of gold, from the point of view of investors holding other investment havens, which leads to an increase in demand for the yellow m...

The price of gold in Palestine on Sunday

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 Al - Hayat press-gold prices in Palestine today, Sunday , and through Al-Hayat press we will explain what is the price of an ounce of gold today, is the price of gold today high or low in Palestine and the impact of the decline in the world on its price, what is the price of a gram of gold, the price of a gram of gold today in Palestine in dinars, the price of gold in Palestine, the price of gold in Gaza today in dinars, the price of gold today in Jordanian dinars, the price of an ounce of gold today, the price of gold in Palestine 2022, the price of gold in Gaza 21 in dinars, gold, the price of shekel, gold prices in Palestine now. Average gold prices today in the financial markets in Palestine in shekels The unit is US dollar shekel Prices for 24 carat gold 196.57 NIS $57.89 The price of 22 carat gold is NIS 180.19 $53.07 Prices of 21 carat gold 172.00 NIS $50.66 Prices for 18 carat gold 147.43 NIS $43.42 The price of 14 carat gold is NIS 114.66 $33.77 The price of 12 carat gold...