
Kenyan shilling flat against dollar, LSEG data shows
NAIROBI: Kenya's shilling was stable against the dollar on Monday, data from the London Stock Exchange Group showed.
At 0938 GMT, the shilling traded at 129.00/129.40 per dollar, unchanged from Friday's close.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Express Tribune
11 hours ago
- Express Tribune
Oil climbs over $1 onUS-China talks
Listen to article Brent crude rose more than $1 a barrel on Friday morning and oil prices were on track for their first weekly gain in three weeks after US President Donald Trump and Chinese leader Xi Jinping resumed trade talks, raising hopes for growth and stronger demand in the world's two largest economies. Brent crude futures gained $1.50, or 1.61%, to $66.39 a barrel by 1349 GMT. US West Texas Intermediate crude climbed $1.02, or 1.61%, to $64.39. On a weekly basis, both benchmarks were on track to settle higher after declining for two straight weeks. Brent has advanced 2.75% this week, while WTI is trading 4.9% higher. China's official Xinhua news agency said trade talks between Xi and Trump took place at Washington's request on Thursday. Trump said the call had led to a "very positive conclusion", adding the US was "in very good shape with China and the trade deal". Canada also continued trade talks with the US, with Prime Minister Mark Carney in direct contact with Trump, according to Industry Minister Melanie Joly. The oil market continued to swing with news on tariff negotiations and data showing how trade uncertainty and the impact of the US levies are flowing through into the global economy. "The potential for increased US sanctions in Venezuela to limit crude exports and the potential for an Israeli strike on Iranian infrastructure add to upside risks for prices," analysts at BMI, a Fitch affiliate, said in a note on Friday. "But both weaker demand for oil and increased production from both OPEC+ and non-OPEC producers will add to downside price pressures in the coming quarters." Top exporter Saudi Arabia cut its July crude prices for Asia to near two-month lows. That was a smaller price reduction than expected after OPEC+ agreed to ramp up output by 411,000 barrels per day in July. The kingdom had been pushing for a bigger output hike, part of a broader strategy to win back market share and discipline over-producers in OPEC+, which groups the Organisation of the Petroleum Exporting Countries and allies including Russia. "The market looks balanced in 2Q/3Q on our estimates as oil demand rises in summer and peaks in July-August, matching supply increases from OPEC+," HSBC said in a note.


Business Recorder
12 hours ago
- Business Recorder
Russian rouble falls vs US dollar
MOSCOW: The Russian rouble fell against the US dollar on Friday ahead of the central bank's decision on its key interest rate and after strengthening late in the previous session. By 0735 GMT, the rouble was down 2.9% at 79.50 per US dollar, according to LSEG data based on over-the-counter quotes. The rouble has rallied by around 40% against the greenback so far this year. A Reuters poll of 26 economists showed on Monday that the central bank was expected to keep its main interest rate on hold at 21% at its board meeting on Friday, but might soften its rhetoric and signal rate cuts later in the year. A growing number of analysts are saying that with the sharp slowdown of the economy and a decelerating inflation rate, the central bank might surprise the market with a cut at the upcoming meeting, triggering a weakening of the rouble.


Business Recorder
a day ago
- Business Recorder
Wheat flat-to-up 2 cents, corn down 1-3 cents, soy down 2-4 cents
CHICAGO: The following are U.S. expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CDT (1330 GMT) on Friday: Wheat - Flat to up 2 cents per bushel CBOT wheat was nearly unchanged as the market consolidated ahead of the weekend. Futures advanced this week amid escalated fighting between grain suppliers Russia and Ukraine. Rain is expected to slow hard red winter wheat harvesting in the U.S. Plains, traders said. In France, wheat crop ratings extended a decline due to dry weather. CBOT July soft red winter wheat was last 1-1/2 cents higher at $5.47 per bushel. K.C. July hard red winter wheat edged up 1/4 cent to $5.42-3/4 per bushel, and Minneapolis July spring wheat rose 1/4 cent to $6.25-1/2 per bushel. China allows imports of rapeseed meal, soybean meal from Uruguay Corn - Down 1 to 3 cents CBOT corn sagged as the recently planted U.S. crop is off to a promising start, with mostly benign weather expected for the first half of June, analysts said. The U.S. Department of Agriculture is slated to update U.S. corn and soy crop condition ratings in a weekly report on Monday. Some traders expect USDA to increase its estimate for U.S. corn exports due to strong demand in a monthly report on Thursday. As of May 29, U.S. corn exporters had sold 99% of USDA's full-year export outlook for 2024-25, which ends August 31. CBOT July corn was last down 2-1/2 cents at $4.37 per bushel. Soybeans - Down 2 to 4 cents CBOT soybeans fell overnight with soymeal, while soyoil rose. Washington's trade war with China, the world's biggest soybean importer, looms over the soybean market. A planned meeting between U.S. and Chinese officials on trade is expected within seven days, White House trade adviser Peter Navarro said on Friday, after the countries' leaders spoke by phone on Thursday. China allowed the import of soymeal from Uruguay. CBOT July soybeans were last down 3-1/4 cents at$10.48-1/2 per bushel.