Friday, October 7

Month: January 2021

Fuel prices rise again, petrol scales new record in Delhi
Business

Fuel prices rise again, petrol scales new record in Delhi

By Administrator_India Capital Sands The retail price of petrol scaled a new high in Delhi on January 27 with oil marketing companies (OMCs) raising the prices by 25 paise a litre to Rs 86.30. Similarly, prices of diesel also increased by 25 paise to Rs 76.48 a litre. In Mumbai, diesel prices touched a record high of Rs 83.30 a litre, while petrol was seen at Rs 92.86 a litre, up 27 paise and 24 paise, respectively. Diesel prices had touched an all-time high of Rs 81.94 a litre in Delhi on July 20, 2020. So far, in the month of January, petrol prices were hiked Rs 2.59 a litre and diesel by Rs 2.61 a litre in Delhi. On the other hand, in Mumbai, petrol prices jumped Rs 2.52 a litre and diesel by Rs 2.79 a litre since January 1. It was on January 6 only that OMCs raised fuel pri...
Dollar rises as stock slump rattles investor confidence
Forex

Dollar rises as stock slump rattles investor confidence

By Administrator_India Capital Sands The dollar extended gains against most currencies on Thursday as a stock market rout due to concerns about excessive valuations boosted safe-harbour demand for the U.S. currency. The euro nursed losses after a European Central Bank member warned that interest rate cuts are possible to curb the common currency's recent gains. The Australian and New Zealand dollars, two currencies considered a barometer of risk appetite, also fell against their U.S. counterpart in a sign of waning market confidence. Concerns about a short-squeeze among hedge funds, worries about corporate earnings, and delays in coronavirus vaccinations have slammed the brakes on a heady rally in global equities, which could continue to lift the dollar in the short term. ...
Fuel prices rise again, petrol scales new record in Delhi
Business

Fuel prices rise again, petrol scales new record in Delhi

By Administrator_India Capital Sands The retail price of petrol scaled a new high in Delhi on January 27 with oil marketing companies (OMCs) raising the prices by 25 paise a litre to Rs 86.30. Similarly, prices of diesel also increased by 25 paise to Rs 76.48 a litre. In Mumbai, diesel prices touched a record high of Rs 83.30 a litre, while petrol was seen at Rs 92.86 a litre, up 27 paise and 24 paise, respectively. Diesel prices had touched an all-time high of Rs 81.94 a litre in Delhi on July 20, 2020. So far, in the month of January, petrol prices were hiked Rs 2.59 a litre and diesel by Rs 2.61 a litre in Delhi. On the other hand, in Mumbai, petrol prices jumped Rs 2.52 a litre and diesel by Rs 2.79 a litre since January 1. It was on January 6 only that OMCs raised fuel pri...
Dollar firm as economic, pandemic gloom damp risk appetite
Forex

Dollar firm as economic, pandemic gloom damp risk appetite

By Administrator_India Capital Sands The dollar held ground against riskier currencies on Monday as weak economic data from Europe and fresh worries about the coronavirus supported investor demand for safe-havens, stretching greenback selling positions. Economic activity in the euro zone shrank markedly in January as stringent lockdowns to contain the coronavirus pandemic hit the bloc's dominant service industry hard while UK data showed British retailers struggled to recover in December. British Prime Minister Boris Johnson also said on Friday there was evidence a new variant of COVID-19 discovered late last year could be associated with higher mortality. The news came as bets against the dollar have become overcrowded, analysts said, with U.S. data on Friday showing net do...
UK PM Boris Johnson says too early to say when national lockdown will end
Gold

UK PM Boris Johnson says too early to say when national lockdown will end

By Administrator_India Capital Sands Boris Johnson: The new strain of coronavirus and the fresh set of crises brought forth by it for the United Kingdom apart, UK Prime Minister Boris Johnson hasn't been viewed too positively for his handling of the pandemic, if reports are to be believed. In March he had said that he is shaking hands "continuously" and that he did, in fact, shook hands "with everybody" at a hospital with coronavirus patients. By the end of that month, he had tested positive for the virus, and was hospitalised in April. Ever since, 2020 has been a year of intermittent lockdowns for the UK, with the latest lockdown being imposed after a fast-spreading variant of coronavirus was detected. It is too early to say when the national COVID lockdown in England will end, Bri...
Gold and Brent crude rise over 1% after Janet Yellen’s ‘act big’ call
Commodity

Gold and Brent crude rise over 1% after Janet Yellen’s ‘act big’ call

By Administrator_India Capital Sands Gold rose on Wednesday to a one-week high as the dollar weakened on US Treasury secretary nominee Janet Yellen's call to "act big" on measures to help the American economy recover from the impact of the pandemic. Brent Crude, too, jumped and traded above $56 a barrel. Spot gold gained 1.18 per cent to $1,862.10 per ounce by 8.20 pm IST, having risen 1 per cent to a near one-week high earlier. In Delhi, gold gained for the third day, rising Rs 347 to Rs 48,758 per 10 gram. "Gold looks fairly positive after all that talk about stimulus yesterday from Yellen weakened the dollar," said Michael Hewson, chief market analyst at CMC Markets UK, adding that President Biden's inauguration would provide more details about fiscal policy. "If US bond ...
Dollar Down Over Yellen’s Urge to “Act Big” on COVID-19 Relief
Forex

Dollar Down Over Yellen’s Urge to “Act Big” on COVID-19 Relief

By Administrator_India Capital Sands The dollar was down on Wednesday morning in Asia, with investors digesting U.S. Secretary of the Treasury nominee Janet Yellen’s big spending comments. The euro held onto its gains as a better-than-expected sentiment survey in Germany brightened the mood. The U.S. Dollar Index that tracks the greenback against a basket of other currencies edged down 0.11% to 90.365 by 9:17 PM ET (2:17 AM GMT). The USD/JPY pair edged down 0.10% to 103.78. The safe-haven yen briefly passed the 104 mark against the dollar over the improved sentiment but fell against other major currencies earlier in the session. The Bank of Japan is also due to hand down its policy decision on Thursday. The AUD/USD was up 0.27% to 0.7715 and the NZD/USD pair edged up 0.12% t...
China GDP grows 2.3% in 2020, back to pre-Covid pandemic trajectory
China

China GDP grows 2.3% in 2020, back to pre-Covid pandemic trajectory

By Administrator_India Capital Sands China’s economy roared back to pre-pandemic growth rates in the fourth quarter as its industrial engines fired up to meet surging demand for exports, pushing the full-year expansion beyond estimates and propelling its global advance. Gross domestic product climbed 6.5 per cent in the final quarter from a year earlier, pushing growth to 2.3 per cent for the full year. That leaves the world’s second-largest economy driving global growth and potentially passing US GDP sooner than previously expected. The V-shaped recovery from the biggest slump on record was engineered by getting Covid-19 under control and deploying fiscal and monetary stimulus to boost investment. Growth accelerated as the nation’s factories revved up to meet demand for medica...
Covid-19 vaccination: 81% of targeted beneficiaries get the jab in Odisha
Coronavirus News

Covid-19 vaccination: 81% of targeted beneficiaries get the jab in Odisha

By Administrator_India Capital Sands Around 81 per cent of the targeted beneficiaries on Saturday turned out at designated centres across Odisha to receive the COVID-19 vaccine as the state government rolled out the inoculation drive, an official said. The exercise began at about 11 am, immediately after Prime Minister Narendra Modi launched the programme in New Delhi. "About 81 per cent of the beneficiaries have received the vaccine in 161 session sites across the state by 6 pm," a senior health department official said. Of the total 16,314 people targeted to receive the jabs, 13,292 frontline workers took the vaccine on the first day, the official said adding that the turnout may increase as some people were in the queue even after 6 pm. A 51-year-old sanitation frontli...
Dollar rebound falters as Fed’s Powell strikes dovish tone
Forex

Dollar rebound falters as Fed’s Powell strikes dovish tone

By Administrator_India Capital Sands The dollar's rebound from a nearly three-year low faltered after Federal Reserve Chair Jerome Powell said on Thursday that interest rates would not rise any time soon. The release of details of President-elect Joe Biden's $1.9 trillion stimulus later that day failed to give the greenback additional support, with the main points of the plan already reported by the media. Bitcoin continued to recover after a nearly $12,000 plunge from the record $42,000 reached last week, briefly topping $40,000 overnight. The dollar index has rallied after reaching its lowest level since March 2018 last week, as the prospect of more stimulus weighed on U.S. government bonds, sending the benchmark 10-year Treasury yield above 1% for the first time since Mar...