Unlike last week, the beginning of this week was full of important events that had an impact on market movements. It was the beginning in the Middle East when Saudi Arabia, Egypt, the UAE and Bahrain cut off diplomatic relations with Qatar accusing them of supporting terrorist organizations. 12 countries were with this decision. Sheikh Sabah al-Ahmad, the Emir of Kuwait tried to calm the situation, but his attempts failed, amid calls from the American side to end the siege on Qatar.
By CNBC : With the bulk of seats declared in the General Election, no party has gained a clear majority and the U.K. now faces a hung parliament..
Today is filled with many important economic and political events that have attracted the attention of the markets over the past few days. As the markets have been keeping an eye on what will happen during this busy day with all these data since the beginning of this week.
By Reuters : Asian shares wobbled on Thursday as investors braced for any surprises from the UK election, a European Central Bank policy meeting and congressional testimony from ex-FBI director James Comey who was fired by President Donald Trump last month.
The US dollar fell today to its lowest level in seven months, in addition to the decline of US stocks at the beginning of trading, in light of markets stay tuned of several important economic events this week.
The most prominent event today were the severing of diplomatic relations with the State of Qatar by Saudi Arabia, Egypt, the United Arab Emirates, Bahrain, Yemen and Libya accusing it of supporting terrorist organizations and opening the door to the worst years of dissension among some Arab countries. This decision has had a significant impact on the movements of the Gulf stocks, especially the Qatari bourse, which its main index lost more than 7% of its value, and had an impact on oil prices, which fell during trading today being traded near the lowest levels last Friday at 47$ per barrel.
By Reuters : Sterling retreated on Thursday on fears that Prime Minister Theresa May could lose control of parliament in Britain's June 8 election, while conflicting signals on the health of China's manufacturing sector kept most Asian stock markets in check.
By the end of May, Asian stocks capping a fifth consecutive month of gains as Chinese factory activity data showed steady growth to ease market fears about the slowdown of the world's second largest economy. China's manufacturing sector grew by 51.2 points in May.
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