12/ 02/ 2018

PRESS RELEASE - Insider takes the helm at Delma Exchange as foreign exchange growth accelerates

Delma Exchange, the leading foreign exchange provider in the UAE, announced the appointment of Zahir Moghal as Chief Executive Officer.

Mr. Moghal was previously Managing Partner at Delma Exchange and replaces Stewart Blake, who was appointed Vice Chairman and remains on the Board of Directors.

Chairman Abdul Jabbar Al Sayegh said: “Zahir from the beginning has had a clear vision for Delma Exchange and drives the company to be a global institution recognised for its expertise in delivering world class solutions for our clients in every aspect of foreign exchange.”

Mr. Moghal joined Delma in 2011 and has contributed to a dramatic increase in transacted and remitted funds to a value of more than 5 billion dirhams in 2017. From a base of retail clients, Mr. Moghal introduced and developed the corporate division with the support of his partners. It now accounts for a majority of the company’s turnover and began handling institutional foreign exchange in 2018.

14/ 02/ 2018

US Inflation data key today as Draghi's comments boost the Euro

Euro surged yet again with positive comments from Draghi. Over a Twitter session, Draghi mentioned that Employment in eurozone has improved and Europe has recovered from recession while making significant progress in many area. Pound got a boost from better than expected UK inflation figures which backs the case for a rate hike.

Market will now focus on German GDP, CPI along with other EU economic data to check if the present ECB optimism is reflected by the real economy. Furthermore, US Inflation will be Key as economists are expecting the Inflation to ease to 1.9% from 2.1%.

13/ 02/ 2018

Where does the Pound go from here?

On literally a no data day, the euro strengthened against the dollar at the start of the week. The selloff across asset classes forced investors betting against the US Currency to unwind their positions. The dollar also benefited as nervous investors bought the relative safety US Assets.

Today brings reports from UK, centered on inflation, Retail Price index, CPI and PPI. Data might bring some relief to the UK economy but may not provide the case for a rate hike.

12/ 02/ 2018

The Week Ahead | Can the US Inflation Figures Support the Dollar?

The US Stock markets sell-off on last Monday set the tone for a strong Dollar. The pound stood out with gains amid a hawkish stance from the BOE. The euro received mixed messages from ECB officials.

This week’s focus will be on Euro zone GDP data, UK and US Inflation data. Stronger Inflation figures will support the dollar growth while should provide confidence for FED, for the next rate hike. Also, it would be interesting to see if the stock market sell-off will continue this week as well.