The crypto community in India has high hopes from the Union Budget 2024-25 for several key changes that could significantly impact the industry. These proposals aim to create a more favorable environment for cryptocurrency trading and blockchain technology adoption. Here are the main points on the community’s wishlist: 1. Reduction of TDS on Transfer of
BARCELONA, SPAIN – FEBRUARY 26: A logo sits illuminated at the Nokia booth in the Mobile World Congress 2024 on February 26, 2024 in Barcelona, Spain. (Photo by Xavi Torrent/Getty Images) Xavi Torrent | Getty Images News | Getty Images Shares of Finnish telecom firm Nokia tumbled on Thursday after the company reported a 32%
RMB markets were not excited at the conclusion of China’s Third Plenum, and USD/CNH is likely to consolidate around 7.25-7.30, DBS FX & Credit Strategist Chang Wei Liang notes. USD/CNH to consolidate within 7.25-7.30 “RMB markets were not excited at the conclusion of China’s Third Plenum, and USD/CNH is likely to consolidate around 7.25-7.30. The communique
FTSE China A50 Index Futures: A practical guide for investors The FTSE China A50 Index Futures (ticker: XIN9) are a vital tool for international investors aiming to tap into China’s vibrant A-share market. Traded on the Singapore Exchange (SGX), these futures mirror the performance of the 50 largest A-share companies listed on the Shanghai and
US 10 year yields The bond market is usually the first to figure things out but even it’s struggling with the political turmoil and economic uncertainty right now. Notably, long dated Treasury yields jumped in the immediate aftermath of the debate on June 28 in a signal about a Republican sweep coupled with further tax
Gold prices dipped more than 1% on Friday, as the dollar firmed and some investors locked in profits following the metal’s recent surge on increasing expectations of U.S. interest rate cuts in September. Spot gold was down 1.7% at $2,404.34 per ounce by 1233 GMT. Bullion hit an all-time high of $2,483.60 on Wednesday. U.S.
A worker at a Volvo car store introduces the Volvo xc60 and other models via a live streaming in Shanghai, China, March 18, 2024. Cfoto | Future Publishing | Getty Images Shares of Volvo Cars rose sharply on Thursday after the company reported a jump in annual operating profit for the second quarter. By 9:04
EUR/USD dips slightly under 1.09. ECB kept rates on hold as expected and left a September rate decision ‘wide open’ and data dependent, DBS FX & Credit Strategist Chang Wei Liang notes. ECB to lean towards caution “EUR/USD dipped slightly under 1.09, with the ECB keeping rates on hold as expected and leaving a September
The AUDUSD is lower this week, but as the week works toward the close, the AUDUSD is running into a cluster of support as the week moves toward the close. The area comes in between 0.6676 and 0.6689. I targeted this area in the post from Wednesday saying: A break… could lead to another multi-technical
Markets: USD leads, NZD lags WTI crude oil down $2.53 to $80.29 US 10-year yields up 5.3 bps to 4.24% Gold down $46 to $2399 S&P 500 down 0.7% There was no place to hide today as stocks, bonds, commodities and precious metals all fell. The lone exception was bitcoin, which notched an impressive 5%
Gold prices slipped on Friday, but were on track for a fourth straight weekly gain as expectations that the Federal Reserve was likely to cut U.S. interest rates in September lifted appeal for non-yielding bullion. FUNDAMENTALS * Spot gold was down 0.4% at $2,434.38 per ounce, as of 0047 GMT, after scaling an all-time high
Risk aversion continues to support Dollar in relatively quiet trading today. Both Sterling and Canadian Dollar weakened mildly after worse-than-expected retail sales data. Euro shrugged off dovish comments from some ECB officials. Meanwhile, Yen softened slightly following lower-than-expected CPI core reading. However, overall movements in the currency markets remain limited as traders hold their bets,
Abbott Labs delivered a second-quarter earnings beat on Thursday, but the company’s ongoing litigation over its baby formula — plus softer guidance for the current quarter — is dragging down shares. We view the pullback as an opportunity. Revenue for the three months ended June 30 rose 4% year over year to $10.38 billion, slightly
The Pound Sterling further corrects against the US Dollar after the release of weaker-than-expected UK Retail Sales data for June. Doubts over the BoE to begin reducing interest rates in August remain afloat. The uncertainty over the US Presidential elections improves the safe-haven appeal of the US Dollar. The Pound Sterling (GBP) extends its correction against
Fundamental Overview The Russell 2000 has been on an incredible run ever since the last US CPI report as the index had its best 5 days streak in 24 years. The goldilocks data was the catalyst for a strong rotation from big cap stocks into the small cap stocks, and the momentum was probably exacerbated
At some point on Wednesday, it looked like the dollar was bound to break down further. But a strong reversal yesterday is setting up for a continued move today, with the greenback keeping steadier across the board thus far. Of note, GBP/USD is facing a strong rejection after a brief push above the 1.3000 mark
Gold August futures opened lower by 0.72%, or Rs 534, at Rs 73,621 per 10 grams on Friday, while silver September futures contracts opened down by nearly 1%, or Rs 90,953 per kilogram. The yellow metal has traded flat, gaining only Rs 340 per 10 grams in the last week, while silver has dipped by
Dollar rebounded broadly overnight following steep 500+ point selloff in DOW. Some analysts cited rotation away from big tech as the cause, but the decline was broad-based. Profit-taking could be a more likely factor after recent record runs, as traders and Fed policymakers await more data to determine the number of rate cuts needed this