LONDON: Oil dropped to $66 a barrel on Thursday, its lowest since May, pressured by concerns about weaker demand as COVID-19 cases rise, a stronger U.S. dollar and a surprise increase in U.S. gasoline inventories. Circulation of the Delta variant in areas of low vaccination is driving transmission of COVID-19, the World Health Organization said.
Month: August 2021
Shoppers carry bags of purchased merchandise at the King of Prussia Mall, in King of Prussia, Pennsylvania, December 8, 2018. Mark Makela | Reuters Retail sales were expected to have fallen off in July, as consumers reacted to the delta variant of Covid and held off on online and vehicle purchases. Economists expect retail sales
In this article KSS People shop at Kohl’s department store amid the coronavirus outbreak on September 5, 2020 in San Francisco, California. Liu Guanguan | China News Service | Getty Images Shares of Kohl’s fell more than 3% in premarket trading Thursday despite reporting second-quarter earnings that beat analyst expectations and raising its forecast for
AUD/USD bounces off yearly low on strong jobs report for July. Australia Employment Change rose past -46.2K forecast, Unemployment Rate dropped to 4.6%. DXY jump amid sour sentiment keeps bears hopeful. Virus updates, central bank signals become the key, second-tier US data may offer intermediate moves. AUD/USD picks up bids to 0.7230, off November 2020
Canadian Dollar rises mildly in early US session after stronger than expected consumer inflation reading. But strength of the Loonie is related limited. It remains one of the worst performing for the week, just next to Australian and New Zealand Dollar. Aussie continues to be weighed down by lockdowns while Kiwi is soft after RBNZ
A rundown of some of the sore spots The charts aren’t always right but they should never be ignored, especially when so many dominoes are falling together — and just six weeks after the bottom began falling out of Treasury yields. There are still many risk-positive charts out there and many more that are hanging
Big job losses to come? The lockdowns started in July and there is currently little hope that they’re end any time soon. NSW reported record cases yesterday and Victoria hit a record today. The consensus for today’s jobs report, which is due at the bottom of the hour: Employment -46.2K jobs (estimates from -90K to
MUMBAI: An arm of Central Depository Services has been recognized as the bullion depository at the International Financial Services Centre at GIFT City in Gujarat. CDSL IFSC received recognition from the IFSC regulatory authority and can now provide various functions such as holding and transfer of bullion like gold. The company said that the holding
Prospective home buyers arrive to tour a house for sale in Dunlap, Illinois. Daniel Acker | Bloomberg | Getty Images Borrowers backed away from the mortgage market last week, as higher interest rates chilled a recent revival in refinances. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($548,250 or less)
Vlad Tenev, co-founder and CEO of Robinhood rings the opening bell at the Nasdaq on July 29th, 2021. Source: The Nasdaq Robinhood’s revenue more than doubled in the second quarter to $565 million, bolstered by a massive surge in crypto trading, the stock trading app said Wednesday. In its first earnings report as a public
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Lucid Motors stock tumbles again on Tuesday, down 1%. LCID CCIV stock struggling as Tesla comes under the spotlight. Tesla stock suffers a 3% fall after a tough fall on Monday. Lucid Motors shares continue to disappoint loyal investors as the electric vehicle sector took a bit of a hit this week. Tesla has been
To everyone’s surprise, the RBNZ left the OCR unchanged at 0.25% in August. The decision was made in light of the renewed New Zealand’s lockdown after a report of one coronavirus case. Policymakers, however, maintained a hawkish stance, suggesting that the next policy decision would be tightening. Meanwhile, the Funding-For-Lending program (FLP) also stayed unchanged
The USD is mixed As the North American session begins, the GBP is the strongest and the NZD is the weakest after the RBNZ kept the OCR unchanged after their policy meeting. RBNZ Governor Orr was supremely confident and characterized the pause in rates as something akin to a blip. His comments on housing –
Forex news from the European trading session – 18 August 2021 Headlines: Markets: GBP leads, NZD lags on the day European equities mixed; S&P 500 futures down 0.1% US 10-year yields up 2 bps to 1.277% Gold flat at $1,786.50 WTI up 1.2% to $67.40 Bitcoin down 0.5% to $44,719 It was a quiet session
The football ecosystem has stepped up its adoption game as more clubs continue to involve crypto in mainstream operations. Netherland-based top tier football club PSV Eindhoven has partnered with a local crypto trading platform, Anycoin Direct, which will pay the club an undisclosed amount of Bitcoin (BTC) in a new sponsorship deal. According to the
NEW DELHI: Gold prices were little changed on Wednesday, moving mildly higher. The precious metal was caught between a firmer dollar and safe-haven demand driven by the Delta coronavirus variant fears. Gold futures on MCX were up 0.21 per cent, or Rs 98, at Rs 47,378 per 10 gram. Silver futures gained 0.34 per cent,
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