23 July 2017
The weakening U.S. dollar fell to its lowest in more than a year against key world currencies on Friday as investors assessed comments from the European Central Bank and obstacles to U.S. President Donald Trump's domestic agenda.The euro built on sharp gains from a day earlier, rising to near two-year highs against the dollar and undermining European stocks.

In stocks, the MSCI World index shed 0.19 percent on Friday, falling after 10 days of gains.This week, investors will be focusing on a meeting of Federal Reserve policymakers, the release of second-quarter economic growth data, and another flood of corporate results.

In the Gulf, Saudi Arabia's index rose 0.4 percent on Thursday as Saudi Basic Industries climbed 1.1 percent to 99.90 riyals. Morgan Stanley raised the stock to overweight from equal-weight and lifted its price target to 122 riyals from 86 riyals.Dubai's index edged down 0.2 percent as Amlak Finance soared 14.3 percent and was the most heavily traded stock.

In commodities, o il prices slid on Friday, settling about 2.5 percent lower.Benchmark Brent crude futures settled down $1.24 or 2.52 percent at $48.06 a barrel. U.S. West Texas Intermediate (WTI) crude futures settled down $1.15 or 2.45 percent, at $45.77 a barrel.

Spot gold added 0.8 percent to $1,254.30 an ounce, as the weaker dollar made bullion cheaper for holders of other currencies.

In other news, Mexican Economy Minister Ildefonso Guajardo said that there could be between six to nine rounds of negotiations between the United States, Canada and Mexico in the event a quick deal is reached on a revamp of the North American Trade Agreement.

China's insurance regulator has urged the industry to show greater "self-discipline" and "serve the real economy", in a nod to the central government's focus on fighting financial risk.

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