A commonly-heard refrain from those lamenting inflation is that the government gave workers too much money during the pandemic and that ‘nobody wants to work anymore’. Well workers weren’t the only ones who benefited from government largess. The enormous $800 billion Paycheck Protection Program — the largest and fastest of Washington bailouts — was a
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Copper retreated in London on Friday and was on track for its fifth straight weekly loss, as worries about COVID-19 curbs in China outweighed hopes for stimulus for the top metals consumer. Three-month copper on the London Metal Exchange fell 0.5% to $7,780 a tonne by 0428 GMT. On the Shanghai Futures Exchange, the most-traded
Dollar rises in early US session after stronger than expected non-farm payroll data. It’s also supported by extended rebound in 10-year yield, which reclaims 3%. Euro also follows German yield higher. On the other hand, Canadian Dollar turns softer after poor employment data. Yen is mixed after the tragic death of former Prime Minister Shinzo
Interesting remarks from the Chinese Govt on the potential for disastrous flooding in the country As the “critical period” starting in mid-July approaches, officials at all levels needed to “grasp the potential risks”, Zhou Xuewen, vice minister at China’s Ministry of Emergency Management, told a briefing. Across China this year, as many as 487 rivers
India Gold August futures were trading higher on Friday tracking the positive trend seen in the international spot prices as the dollar came slightly off two-decade highs. Despite the pullback, bullion is set to post its biggest weekly drop in more than a month as the elevated greenback hit demand, said a Reuters report. Gold
Overall markets are relatively quiet in Asian session today. There is little reaction to the tragic news that former Japanese Prime Minister Shinzo Abe was shot and gravely injured. Dollar and Yen remain the strongest ones for the week while Euro is the runaway loser, followed by Sterling by a distant. Focuses will now turn
Gold in the national capital on Thursday slipped by Rs 436 to Rs 50,551 per 10 grams, according to Securities. In the previous trade, the yellow metal had finished at Rs 50,987 per 10 grams. Silver, however, gained Rs 233 to Rs 56,750 per kg from Rs 56,517 in the previous trade. In the international
Time flies when you’re back at work. It went so fast that I missed the European equity close. Sharply higher after The European major indices closed sharply higher led by Italy’s FTSE MIB which rose over 3%. The UK FTSE 100 gain of 1.14% after Prime Minister Boris Johnson’s resignation The final numbers are showing:
Sterling recovers today, in particular against Euro and Swiss Franc, after Boris Johnson resigns as UK Prime Minister. But Aussie is so far still the strongest for the day. Euro remains generally weak but Dollar and Yen are also paring some recent gains. For the week, Aussie is the best performer for now, followed by
This summary of incremental increases in measures against COVID in China is via CNBC: Beijing city announced that starting Monday, most people need to be vaccinated before entering in-person training centers, sports centers, entertainment venues and other social gathering spots. The vaccine requirement comes after a resurgence in new cases in Beijing, Shanghai and other
Gold prices edged up on Thursday, from their multi-month lows hit in the previous session. However, the relief might be temporary, experts warned. An elevated dollar pressurised the safe bullion. Gold futures on were trading higher, gaining 0.29 per cent or Rs 148 at Rs 50,648 per 10 grams. Similarly, silver futures traded were up
The stock markets are starting to display some resilience, despite hawkish FOMC minutes. US stocks managed to close higher after initial selloff. Nikkei is also showing some strength in Asian session. Dollar and Yen are retreating mildly while Aussie and Kiwi are trading higher. As for the week, Euro and Sterling remain the runaway loser,
London-World oil prices spiralled lower Wednesday on fears that a potential recession will slash demand, with Brent crude sinking under $100 per barrel for the first time since April 25th as recession fears fueled a broader selloff. Europe’s benchmark crude contract, Brent North Sea, dropped 3.3 percent to $99.39 per barrel in mid-afternoon deals, while
If the Fed minutes were honest they would say, “Powell already leaked to CNBC and the WSJ that we’re hiking 75 bps, so our hands are tied”. I think risk-buyers are cautious until the headlines hit on fear that there will be some very-hawkish sounding words in there. I wouldn’t be surprised if we see
Selloff in Euro continues today, as it’s marching towards parity against the greenback. Some noted that it’s a perfect storm for the common currency, with stagflation risks, gas crisis, a prolonged war and fragmentation. Sterling is not too far behind with political uncertainties over Prime Minister Boris Johnson again, while Swiss Franc is also weak.
The euro fell to the lowest since 2003 while the pound and loonie fell to the lows of the year. What kicked off the worries and what’s coming next. Yesterday I spoke with BNNBloomberg about trigger for today’s round of market volatility and what’s coming next. A recession may come but don’t think of it
NEW DELHI: It is not common for analysts to agree on a price target for a commodity or a stock, but this time around, the targets for crude oil vary in between the wide range of $65 a barrel and $380 a barrel. Last week, global brokerage firm JPMorgan shocked everyone as its report estimated
Aussie is trading in tight range after RBA delivered the 50bps rate hike as expected, and maintained tightening bias. Euro is currently the stronger one for the day, followed by Sterling. On the other hand, Yen is under some selling pressure together with Dollar. The development suggests that risk markets might be ready for a