Asian equities mostly advance after Wall Street gains yesterday Japanese stocks end the day with modest gains, as US equities pushed higher once again in trading yesterday – setting up a more positive mood today. Chinese stocks are looking more flat but the Hang Seng is up slightly by 0.2% currently. Elsewhere, US futures are
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NEW DELHI: Traders booked profits in gold and silver as improved domestic factory output raised hopes of a swift economic recovery, making bullion counters unattractive. India’s factory activity grew for the first time in five months with indicators such as power and fuel demand, railway freight and mobility indices also showing improvement. The US also
Australian Dollar tumbles broadly today and it’s trading as the weakest one so far. The decline partly follows worse than expected Q2 GDP data, and partly as profit taking on recent strong rise. Selloff against New Zealand Dollar the latter to be the strongest one. On the other hand, Dollar also recovers in general, digesting
The co-CIO of the world’s largest hedge fund told CNBC on Tuesday that the U.S. economy continues to need significant fiscal support in order to sustain its recovery from the coronavirus-induced devastation. Greg Jensen of Bridgewater Associates said the firm estimates that the price tag for another coronavirus relief bill is between $1.3 trillion and
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Major indices closed near highs for the day The S&P and NASDAQ index closed at record highs once again. The NASDAQ index led the way with a 1.39% gain. Each of the major indices close near session highs. The S&P closed higher for the 8th time in 9 days. The NASDAQ index rose for the
Here is what you need to know on Wednesday, September 2: After falling to fresh lows throughout the first half of the day, the dollar managed to recover some ground. The trigger was an upbeat ISM Manufacturing PMI, which spurred some profit-taking. Nevertheless, the dollar is still the weakest across the FX board. EUR/USD hit
More or a correlation than causation I don’t see anything in Brainard’s comments that would argue for buying the dollar here. She said risks are tilted to the downside and it will take some time for inflation to get closer to target. If anything she’s saying that more accommodation is coming. But the dollar is
By Sonali Paul and Seng Li PengMELBOURNE/SINGAPORE: Oil prices gained on Tuesday, reversing overnight losses, as investors moved into risk assets and stayed away from the safe-haven U.S. dollar which hit multi-year lows. Brent crude futures climbed 47 cents, or 1 per cent, to $45.75 a barrel at 0635 GMT. U.S. West Texas Intermediate (WTI)
Sterling overtakes Euro as the strongest currency for today, as cross buying against the latter resumes after brief consolidation. However, Swiss Franc is clearly left behind and it’s trading as the worst performing one. Rallies in Gold and Silver are a factor pressuring the safe haven Franc. Yen is following as the second weakest currencies.
Getty Images The pace of job gains over the next decade will slow considerably amid a sharp decline in the active labor force and an aging population, according to Labor Department projections released Tuesday. From the period of 2020-29, the economy is expected to add a net 6 million new jobs, an annual growth rate
The latest ruling in the class-action lawsuit against OneCoin has dismissed Konstantin Ignatov, co-founder of OneCoin, as a defendant after he agreed to testify against his sister. Ignatov is the brother of Ruja Ignatova, the infamous leader and face of OneCoin also known as “Cryptoqueen.” Ignatova disappeared in 2017 and has since managed to evade
The greenback is the weakest performing major currency so far today There isn’t much reprieve for the dollar following the losses yesterday, though we are seeing EUR/USD back away from levels near the 1.2000 handle at least to start the session. The pair touched a high of 1.1997 earlier in the day but is now
September has kicked off with an extension of previous trends – higher stocks and a fall in the dollar. EUR/USD is trading close to 1.20, fueled by several encouraging factors. New German forecasts and the ISM Manufacturing PMI are awaited, Yohay Elam, an analyst at FXStreet, reports. Key quotes “Federal Reserve Vice-Chair Richard Clarida clarified
A more positive tilt in early trades German DAX futures +0.8% UK FTSE futures -0.3% Spanish IBEX futures +0.8% European stocks look set to bounce back after a disappointing start to the week yesterday, though the early gains here may be fleeting as US futures aren’t showing the same degree of enthusiasm as we get
KUALA LUMPUR: Malaysian palm oil futures rose to their highest level in nearly a month on Tuesday and are set to extend a three-day winning streak, tracking higher rival soy oil and crude prices. The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange rose 58 ringgit, or 2.12%, to 2,796