KUWAITI DINAR 0.30175 0.30185 Daily Treasury Market Commentary April 11, 2021 Foreign Exchange Developments: Economic Updates: The dollar's value edged higher against a basket of U.S. producer prices increased more than expected in Currency Price MTD % 3M% YTD% currencies, paring some of the week's losses, as a stronger- March, resulting in the largest annual gain in 9 years EUR/USD 1.1900 1.43 -2.08 -2.60 than-expected rise in U.S. and Chinese inflation gauges and likely marking the start of higher inflation as the GBP/USD 1.3711 -0.53 1.42 0.24 drove up bond yields. economy reopens amid an improved public health AUD/USD 0.7623 0.33 -0.96 -0.95 Sterling steadied, having touched a two-month low against environment and massive government aid. USD/CHF 0.9252 -1.97 3.89 4.49 the dollar in early London trading, and was set for its China's factory gate prices beat analyst expectations USD/JPY 109.68 -0.95 5.69 6.28 biggest weekly drop against the euro so far this year, hurt to rise at their fastest annual pace since July 2018 in USD/CAD 1.2527 -0.28 -2.03 -1.63 by profit-taking after a strong first quarter. March in the latest sign that a recovery in the The Canadian dollar advanced against its broadly stronger economy is gathering momentum. U.S. counterpart as data showing the economy added far Local & GCC news: more jobs than expected in March offset lower oil prices. Saudi oil producer Aramco has agreed a $12.4 billion Index Price Change MTD% YTD% deal to sell a 49% stake in its pipelines to a consortium DOWJONES 33,800.60 297.03 2.48 10.44 led by U.S.-based EIG Global Energy Partners. S&P 500 4,128.80 31.63 3.92 9.92 Oman plans to widen exemptions from VAT it will FTSE 100 6,915.75 -26.47 3.01 7.05 Commodities: introduce this month and increase subsidies to DAX 15,234.16 31.48 1.50 11.05 Oil prices settled lower and fell around 2% this week as mitigate the impact on citizens from the planned VAT, KUWAIT ALL 5,930.71 58.82 2.68 6.94 production increases and renewed COVID-19 lockdowns in which is being introduced to help the Gulf state some countries offset optimism about a recovery in fuel bolster its debt-burdened coffers. demand. Benchmark 1 Month 3 Month 6 Month 12 Month Gold prices fell more than 1%, weighed down by a jump in LIBOR 0.1113 0.1875 0.2114 0.2858 U.S. Treasury yields and a rebound in the dollar. Date Country Indicator Name Prior Forecast EURIBOR -0.5590 -0.5440 -0.5220 -0.4970 13Apr United Kingdom GDP Estimate YY -9.2 -8.41 KIBOR 1.2500 1.5000 1.6875 2.0000 ChartDaily GBP= of the Day: GBP/USD - 1 Month 11/03/2021 - 09/04/2021 (GMT) Price USD 13Apr United Kingdom Manufacturing Output -2.3 0.62 Benchmark 1 Year 3 Year 5 Year 10 Year 1.396

1.394

1.392 13Apr Germany ZEW Economic Sent. 76.6 79.2 US Treasuries 0.051 0.333 0.864 1.660

1.39 1.388 13Apr Germany ZEW Current Cond. -61 -51.08 US Index 92.182 1.386 1.384 13Apr United States CPI MM, SA 0.4% 0.49 1.382 1.38 13Apr Japan Machinery Orders MM -4.5 2.49 1.378

1.376

1.374 13Apr Japan Machinery Orders YY 1.5 1.87 Gold Silver KWT OSP Brent WTI

1.372 1.3708 1.37 Source: Reuters and Bloomberg 1745.10 25.29 61.35 63.03 59.34

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