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The FOMC minutes for the March meeting revealed that members turned more optimistic over the economic outlook. They were more hopeful of continuous improvement in light of the “significant declines in the number of new [coronavirus] cases, hospitalizations, and deaths over the intermeeting period as well as a pickup in the pace of vaccinations”. The

Stocks climb to the highs of the day US stocks are getting a late lift in what’s already been a strong week. The S&P 500 is up 25 points to 4121. Closing at the highs of the week is a good sign for the week ahead, though this will be the 6th gain in 7

NEW DELHI: Aluminium prices on Friday fell by 75 paise to Rs 184.95 per kg in the futures market as participants trimmed their positions amid a weak trend in the spot market. On the Multi Commodity Exchange, aluminium for delivery in April declined by 75 paise, or 0.4 per cent, to Rs 184.95 per kg

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Forex news for New York trade on April 9, 2020: Markets: S&P 500 up 0.8% to record 4128 US 10-year yield up 3.75 bps to 1.66% Gold down $13 to $1743 WTI crude down 25-cents to $59.35 CAD leads, AUD lags The Canadian jobs report was a stunner and far-surpassed expectations. The market’s response was

CHANDIGARH: The wheat procurement in Punjab will begin on April 10, the state’s food, civil supplies and consumer affairs minister Bharat Bhushan Ashu said. He said the state government has made arrangements in this regard, and procurement agencies and FCI would purchase the crop at Rs 1,975 per quintal in the current rabi season. Ashu

Back in November last year Chinese authorities halted Ma’s Ant Group US$34.5B IPO. Jack Ma, who controls Alibaba, had criticized domestic (and global) regulators for stifling financial services innovation, criticism the CCP did not appreciate.   Ma is back in hot water again, this time Chinese regulators have hit Alibaba with an 18.23 billion yuan ($2.8 billion)

April 9: Gold prices fell more than 1% on Friday, weighed down by a jump in U.S. Treasury yields and a rebound in the dollar, but bullion was still on course for its first weekly gain in three weeks. Spot gold was 0.7% lower at $1,744.07 per ounce by 1:44 p.m. EDT (1744 GMT), having

Swiss Franc and Euro ended as the strongest ones last week, as investors reversed their short positions accumulated in Q1. In particular, such reversals pushed Sterling to be the worst performing one, suffering heavy pressure against both Euro and Franc. The outlook for European looked a bit less pessimistic on a couple of factors. But

Banks traditionally get the ball rolling Believe it or not, the earnings season is starting up next week. It seems like only yesterday. The fact is, the bulk of earnings are spread out over a month or so and then you have other key releases that are outside of that window.  Nevertheless, it does not

LONDON: Oil prices edged lower on Friday on rising supplies from major producers and concerns over a mixed picture on the COVID-19 pandemic’s impact on fuel demand. Brent crude futures for June fell 37 cents, or 0.59%, to $62.83 a barrel by 1338 GMT while U.S. West Texas Intermediate (WTI) crude for May was at

Markets are generally quiet in Asian session today. Sterling is set to end as the worst performing one for the week. And it’s still facing much downside pressure against Euro, Swiss Franc and Yen. Dollar is following as the second weakest, but the final position is unsure, as Aussie and Loonie are also relatively soft.

Futures mostly lower Futures are flatish for the S&P 500, Dow and Russell 2000 but Nasdaq futures are down about 0.7%. The S&P 500 hit a record yesterday. Keep an eye on bonds. Yields have tracked even higher after PPI data. US 10-s are up 6 bps to 1.68%. Invest in yourself. See our forex

NEW DELHI: Copper futures on Friday slipped 0.47 per cent to Rs 692.35 per kg as participants cut their positions amid muted demand in the domestic market. On the Multi Commodity Exchange, copper contracts for April delivery eased by Rs 3.25, or 0.47 per cent, to Rs 692.35 per kg in a business turnover of

Canadian Dollar jumps broadly in early US session, with help from much better than expected job data. Dollar is following as second strongest for today, paring some of this week’s losses. On the other hand, Yen and Euro, turn weaker, other with Aussie. Overall, it appears that traders are generally taking profits from prior moves

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NEW YORK: Oil prices were little changed as a falling and rising stock market offset earlier declines caused by a big increase in US gasoline stockpiles and subdued demand compared with pre-pandemic levels. Brent futures rose 20 cents, or 0.3%, to $63.36 a barrel by 11:43 a.m. EDT (1543 GMT), while US West Texas Intermediate