The emerging market currencies have been slammed over the past week or so. Names like Brazilian real, Mexican peso and South African rand have declined by 5.65% to 4.48%, respectively. “We are in a real EM sell-off now,” Robin Brooks, chief economist at the Institute of International Finance (IIF) and former chief strategist at the
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LONDON: Oil prices steadied on Thursday, as a fall in U.S. inventories last week was tempered by a stronger dollar and a renewed wave of COVID-19 cases in Europe that led several countries to reimpose travel restrictions. Brent crude futures were up 10 cents, or 0.2%, to $41.87 a barrel by 1100 GMT, while U.S.
Dollar remains the strongest one for the week, followed by Yen, as risk aversion continue to dominate. The recovery attempts in European stocks appeared to have faded very quickly while DOW futures point another day of lower open. Sterling is relatively resilient, with some support from the new jobs support scheme announced by UK Finance
People wait to visit a house for sale in Floral Park, Nassau County, New York, the United States, on Sept. 6, 2020. Wany Ying | Xinhua News Agency | Getty Images Exceptional demand for both new and existing homes, brought on by the stay-at-home culture of the coronavirus pandemic, has the housing market severely depleted.
A customer carries a to-go bag outside a Darden Restaurants Inc. Olive Garden restaurant in Clarksville, Indiana, U.S., on Thursday, March 5, 2020. Luke Sharrett | Bloomberg | Getty Images Darden Restaurants on Thursday reported that its revenue fell by more than 28% in its fiscal first quarter as the company’s business slowly recovers from
NASDAQ index fell -3.07% yesterday The US stocks are opening lower with the NASDAQ leading the way again. Recall from yesterday, the tech heavy NASDAQ index fell by -3.07%. The S&P index fell by -2.37%A snapshot of the market currently shows: S&P index -0.25% NASDAQ index -0.42% Dow industrial average -0.21% The S&P and NASDAQ are down for the 6
USD/JPY turned positive for the fourth consecutive session and shot to fresh one-week tops. Coronavirus jitters, worries of an economic slowdown continued benefitting the greenback. The risk-off mood underpinned the safe-haven JPY and capped any further gains for the pair. The USD/JPY pair edged higher during the early North American session and was last seen
UK finance minister, Rishi Sunak, to speak later today He will also be speaking in parliament later in the day as he will deliver a statement on the economy, which should encompass his plans on the new wage support scheme: The pound is finding some bids on the session currently, with cable pushing to fresh
New Delhi: Guar seed prices on Thursday went down by Rs 6 to Rs 3,973 per 10 quintal in futures trade. On the National Commodity and Derivatives Exchange, guar seed contracts for October delivery was trading at Rs 3,973 down by Rs 6, or 0.15 per cent per 10 quintal with an open interest of
Risk aversion continues to dominate the markets, on concern of another wave of coronavirus infects, as the Northern Hemisphere is entering in fall and winter. US stocks closed notably lower after brief initial rebound. Asian markets follow with heavy selling, with major indices in deep red. In the currency markets, commodity currencies are extending decline
S&P index falls over 2% The S&P index and NASDAQ index closed lower for the 5th time in 6 days. All 11 sectors of the S&P moved lower. Stocks closed near their session lows with the NASDAQ index tumbling over 3%. The S&P index is 9% away from its high. The NASDAQ index is now 12%
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Gold Price Analysis: XAU/USD’s potential short-term reprieve if USD pulls back Gold prices have deteriorated in the US dollar’s relentless comeback as investors move away from stocks. The price of the dollar is correlated to gold, so it stands to reason that if the dollar is about to tail off its gains, then gold should
Reporting that Congress is readying to leave Washington as soon as this week until after the election. Congress is breaking for the rest of September and for most of October. Link here for more. — Yesterday we got the news that a government funding bill is likely to be completed, thus ensuring they all get paid! But for
LONDON: Oil edged up to around $42 a barrel on Wednesday after a report said U.S. fuel inventories fell, although rising crude supply and growing numbers of coronavirus cases that raise concern of stalling demand capped gains. The American Petroleum Institute, an industry group, said stocks of gasoline and distillate fuel dropped, while crude inventories