{"id":561448,"date":"2021-04-07T03:55:52","date_gmt":"2021-04-07T03:55:52","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/07\/what-the-markets-are-doing-on-7-april-2021\/"},"modified":"2021-04-07T03:55:52","modified_gmt":"2021-04-07T03:55:52","slug":"what-the-markets-are-doing-on-7-april-2021","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/07\/what-the-markets-are-doing-on-7-april-2021\/","title":{"rendered":"What the markets are doing on 7 April 2021"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-10\"><\/a> <strong>The Central Bank of China will soon begin issuing a crypto-like digital Yuan <\/strong>designed to be independent of the global financial system, the <a href=\"https:\/\/www.wsj.com\/articles\/china-creates-its-own-digital-currency-a-first-for-major-economy-11617634118\">WSJ<\/a> reports. The decision to start phasing in a digital currency in mostly cashless China comes amid a global rush to issue central bank backed digital currencies. But some have raised concerns over the currency\u2019s potential to increase Chinese government oversight on domestic transactions and allow more control over the economy through certain features, like programming the currency with an expiration date to spurr consumer spending when necessary. The currency would also allow the country to skirt US-imposed sanctions and challenge the dominance of the USD, with former IMF staffer Josh Lipsky calling the currency \u201ca national security issue [that] threatens the dollar over the long term.\u201d<\/p>\n<p><strong>Sweden will also begin testing its e-krona with commercial banks over the coming year,<\/strong> expanding the use of its central bank digital currency beyond the central bank which has been running a pilot program for the currency for the past year, <a href=\"https:\/\/www.reuters.com\/article\/us-cenbanks-digital-sweden\/sweden-to-bring-in-banks-in-next-stage-of-e-krona-project-idUSKBN2BT1CF?il=0\">Reuters<\/a> reports. While \u201cthe technology provides new possibilities,\u201d it remains unclear how it will fare in \u201cprocessing retail payments in the magnitude and with the safety level required,\u201d Sweden\u2019s central bank, Riksbank, said in a statement.<\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table table-striped markets-table'>\n<tbody>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>10,263<\/p>\n<\/td>\n<td>\n<p>+0.1% (YTD: -5.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.65<\/p>\n<\/td>\n<td>\n<p>Sell 15.75<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>9,988<\/p>\n<\/td>\n<td>\n<p>+0.2% (YTD: +15.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>6,080<\/p>\n<\/td>\n<td>\n<p>+1.1% (YTD: +20.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,574<\/p>\n<\/td>\n<td>\n<p>-% (YTD: +3.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,073<\/p>\n<\/td>\n<td>\n<p>-0.1% (YTD: +8.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>6,823<\/p>\n<\/td>\n<td>\n<p>+1.3% (YTD: +5.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 62.60<\/p>\n<\/td>\n<td>\n<p>+0.7%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 2.46<\/p>\n<\/td>\n<td>\n<p>-2.2%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,743.00<\/p>\n<\/td>\n<td>\n<p>+0.8%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 57,764<\/p>\n<\/td>\n<td>\n<p>-1.6% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><strong>The EGX30 rose 0.1% yesterday<\/strong> on turnover of EGP 888 mn (37.2% above the 90-day average). Local investors were net buyers. The index is down 5.4% YTD.<\/p>\n<p><strong>In the green: <\/strong>Ezz Steel (+2.2%), Emaar (+1.8%) and Fawry (+1.1%).<\/p>\n<p><strong>In the red: <\/strong>Pioneers (-3.2%), Qalaa Holding (-3.0%) and Abu Qir Fertilizers (-2.0%).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central Bank of China will soon begin issuing a crypto-like digital Yuan designed to be independent of the global financial system, the WSJ reports. The decision to start phasing in a digital currency in mostly cashless China comes amid a global rush to issue central bank backed digital currencies. But some have raised concerns [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7210],"tags":[3892,116,518,72,119,122,3891,1137],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-561448","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-central-bank-of-china","tag-china","tag-digital-currency","tag-enterpriseam","tag-financial-markets","tag-planet-finance","tag-riksbank","tag-sweden","wpautop","entry"],"acf":{"mongo_id":"52fd16e6-7c25-4294-a176-a4595ab31d88","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[561425],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>What the markets are doing on 7 April 2021 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/07\/what-the-markets-are-doing-on-7-april-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What the markets are doing on 7 April 2021\" \/>\n<meta property=\"og:description\" content=\"The Central Bank of China will soon begin issuing a crypto-like digital Yuan designed to be independent of the global financial system, the WSJ reports. 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The Agricultural Bank of China, China Construction Bank, Industrial and Commercial\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":561090,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/24\/what-the-markets-are-doing-on-24-march-2021\/","url_meta":{"origin":561448,"position":2},"title":"What the markets are doing on 24 March 2021","author":"enterpriseam admin","date":"24 March 2021","format":false,"excerpt":"Don\u2019t hold your breath for a digital USD anytime soon: The US Federal Reserve remains cautious about issuing a central bank-sponsored digital currency, despite China leaping ahead with trials of its digital yuan and other countries considering introducing national digital currencies, CNBC reports. Although covid-19 helped highlight the importance of\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":610698,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/26\/us-gives-gulf-wealth-funds-the-side-eye-over-china-dealings\/","url_meta":{"origin":561448,"position":3},"title":"US gives Gulf wealth funds the side-eye over China dealings","author":"enterpriseam admin","date":"26 November 2023","format":false,"excerpt":"US cracks down on Beijing influence via Middle East deals: Gulf sovereign wealth funds undertaking acquisitions in the US are being investigated for their ties to China, writes Bloomberg, citing anonymous sources reportedly close to the deals. Abu Dhabi\u2019s Mubadala Authority and Saudi Arabia\u2019s Public Investment Fund are reportedly under\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1346.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":568890,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/06\/central-bank-of-egypt-seeks-to-renew-currency-swap-agreement-with-china\/","url_meta":{"origin":561448,"position":4},"title":"Central Bank of Egypt seeks to renew currency swap agreement with China","author":"enterpriseam admin","date":"6 February 2020","format":false,"excerpt":"The Central Bank of Egypt (CBE) is considering renewing a currency swap with China that saw China deposit CNY 18 bn (equivalent to around USD 2.6 bn) against the equivalent in EGP, which expired at the end of last year, Al Mal reports, citing unnamed sources. The CBE had signed\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":585600,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/26\/is-the-usd-losing-ground-as-the-worlds-favorite-reserve-currency\/","url_meta":{"origin":561448,"position":5},"title":"Is the USD losing ground as the world\u2019s favorite reserve currency?","author":"enterpriseam admin","date":"26 April 2023","format":false,"excerpt":"The USD\u2019s share of global reserves fell rapidly in 2022","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/4\/820.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/561448","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=561448"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/561448\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/561425"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=561448"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=561448"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=561448"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=561448"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=561448"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}