Daily economic digest from Forex.ee

Daily economic digest from Forex.ee

Stay informed of the key economic events 

Friday, February 24th  

The EUR/USD pair extends its recovery from 1-1/2 month lows, posted just a few pips below 1.05 level on Wednesday, and now is trading at 1.0598 spot. Pair’s strong recovery could be explained by lack of details on Trump’s “phenomenal” tax reforms in recent US Treasury Secretary S.Mnuchin’s speech, that has only intensified sell-off around the dollar. Moreover, recent FOMC Meeting Minutes, classified by market as dovish in response to lack of any indicators on Fed rate hike’s date, continue to fuel broad dollar’s retreat. However, growing concerns over French elections and economic situation in Greece are limiting pair’s further gains. Today the docket of Eurozone will keep silence, while the US economy will publish only New Home Sales report during NY trades, so the pair will continue to follow global markets sentiments until the US release.

The post Daily economic digest from Forex.ee appeared first on forexnewstoday.net.

Families return to Sirte two months after Daesh expulsion

More than 5,000 displaced families have returned to the city of Sirte, in north-central Libya, nearly two months after the city was recaptured from the so-called Islamic State militant group. Displaced families actually began returning to Sirte on 5 February. Read: Spokesman for Libya’s Sarraj sacked “Some 5,325 families have recently returned to eight districts of the city,” a local media officer said on Facebook on Wednesday. Abdul Wahab Al-Haddad said in earlier remarks to Anadolu that the return of the displaced families will take place in six stages. The Libyan National Accord government retook the city from Daesh in December last year.

Washington and the 2+4 allies

The Wall Street Journal recently published an article that spoke of America’s intention to establish a new regional alliance that would include four Arab countries alongside Israel and the United States. The goal of the alliance, which will resemble NATO in some ways, is to counter the threat that is arising from Iran’s role in the region, as this is considered the primary concern in the area second to none. Among the details of the agreement comes Israel and the US’ decision not to put forward any new NATO forces. The two countries are satisfied with merely acquiring new information and logistical support. The discussions surrounding this situation have crossed oceans and narratives have changed. On the Arab side, there […]

Tunisia keeps the same distance from all Libyan parties, insists president

Tunisian President Beji Caid Essebsi has insisted that his country keeps the same distance from all Libyan parties in the efforts by regional countries to reach a comprehensive political solution for its North African neighbour. “Tunisia is keen on non-interference in the internal affairs of Libya and keeps the same distance from all parties,” the president said during a meeting on Thursday with the Chairman of the Libyan Supreme Council, Abdul Rahman Swehli, who is currently visiting Tunis. Essebsi added that the Tunis Declaration signed by regional foreign ministers on Monday aims to facilitate and encourage dialogue between the various parties in Libya. Read: Tunisia, Algeria and Egypt agree to terms for peace in Libya Swehli pointed out that the […]

US plan to defeat Daesh will look beyond Iraq, Syria

A Pentagon-led plan to defeat Daesh, due in draft form by Monday, will look beyond Iraq and Syria to include the threat from extremists around the world fuelling the conflict, America’s top general said yesterday. The remarks by Marine General Joseph Dunford, chairman of the Joint Chiefs of Staff, suggest the preliminary plan will be far broader in scope than initially thought and might initially omit more tactical details, like specific troop requests. “This is not about Syria and Iraq. It’s about trans-regional threat,” Dunford told a think-tank event in Washington, citing threats from other groups like Al-Qaeda. Read: Iraq government, Shia militias, Daesh all committed war crimes in 2016 – Amnesty “So, when we go to the president with […]