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Aussie Falters on Soft Jobs Data, kiwi Calm After Ardern Resignation

19Jan

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U.S

Aussie Falters on Soft Jobs Data, kiwi Calm After Ardern Resignation

The Australian dollar reversed a recent rally on Thursday, as rising fears of a U.S. recession and soft local jobs data knocked the risk-sensitive currency, while the kiwi was little moved by the resignation of Prime Minister Jacinda Ardern. The Aussie eased 0.4% to 0.6910%, the softest level in one week, after hitting a five-month high of $0.7064 just one session before. It now faces resistance at around 70 cents and has support at the 14-day moving average of $0.6889. The kiwi edged 0.2% lower to $0.6428, after touching a seven-month high of $0.6530. It has support at $0.6360 and did not react much to news that Prime Minister Jacinda Ardern will step down next month. U.S. data overnight showed retail sales fell by the most in a year in December and manufacturing output recorded its bigge...

U.K. Unemployment Rose Less Than Feared in December

17Jan

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U.S

U.K. Unemployment Rose Less Than Feared in December

The U.K. labor market stayed stronger than expected in December, with the number of benefit claimants rising only moderately. At the same time, wage growth in November, the last month for which data are available, grew more strongly than expected, rising 6.4% on the year, according to the Office for National Statistics. The figures add to last week's GDP data in suggesting that the U.K. economy may have fared better at the end of the year than seemed likely only a couple of months earlier as the appointment of Rishi Sunak as Prime Minister ended a turbulent time for the bond markets and the government's energy price caps cushioned a heavy blow to disposable income. The claimant count rose by 19,700, rather than the 19,800 expected by economists, while November's data were revised down to s...

Dow Futures Trade Flat Ahead of U.S. Midterm Elections

9Nov

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U.S

Dow Futures Trade Flat Ahead of U.S. Midterm Elections

U.S. stock futures were trading flat during Monday's evening deals, after major benchmark indices finished the regular session higher ahead of the U.S. midterm elections on Tuesday. By 18:20 ET (23:20 GMT), Dow Jones Futures and S&P 500 Futures were flat, while Nasdaq 100 Futures ticked 0.1% higher In extended deals, Lyft (NASDAQ:LYFT) fell 14.2% after the company reported Q3 adjusted net income of $36.7 million on revenues of $1.05 billion versus $1.06 billion expected. Take-Two (NASDAQ:TTWO) shed 16.7% after reporting Q2 losses of $1.54 per share, far below expected earnings of $1.38 per share. Revenue was reported at $1.39 billion versus $1.56 billion expected TripAdvisor (NASDAQ:TRIP) fell 16% after reporting Q3 EPS of $0.28 versus $0.38 expected on revenues of $459 million versus ...

Dollar Up, but Remains Near Week Low Even as Risk Sentiment Slowly Improves

24Sep

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U.S

Dollar Up, but Remains Near Week Low Even as Risk Sentiment Slowly Improves

By Administrator_India Capital Sands The dollar was up on Friday morning in Asia, but remained near its lowest level in a week. Improving risk sentiment, as concerns about contagion from a potential China Evergrande Group default eased somewhat, erased the U.S. currency’s recent gains. The U.S. Dollar Index that tracks the greenback against a basket of other currencies inched up 0.08% to 93.105 by 11:11 PM ET. The USD/JPY pair inched up 0.10% to 110.41. The AUD/USD pair inched up 0.03% to 0.7297 while the NZD/USD pair inched down 0.02% to 0.7065. The USD/CNY pair inched up 0.04% to 6.4614 and the GBP/USD pair inched up 0.05% to 1.3723. The People’s Bank of China injected fresh cash into the financial system on Thursday, a day after China Evergrande said it would make i...

Dollar holds upper hand after retail sales boost

17Sep

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U.S

Dollar holds upper hand after retail sales boost

By Administrator_India Capital Sands The dollar held near three-week highs against a basket of major currencies on Friday after a raft of strong U.S. economic data rekindled expectations for earlier policy tightening by the U.S. Federal Reserve. U.S. retail sales unexpectedly increased in August, rising 0.7% from the previous month despite expectations of a 0.8% fall, while business sentiment survey by the Philadelphia Fed also showed a big improvement. "Yesterday's data were pretty strong across the board," said Yujiro Goto, chief currency strategist at Nomura Securities. "The markets had been worried that consumption would be weak in August because of the Delta variant. But retail sales were surprisingly strong." The figures helped to curb cautious views on the U.S. econom...

Dollar Down, Investors Digest Data and Wait for Fed Taper Clues

16Sep

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U.S

Dollar Down, Investors Digest Data and Wait for Fed Taper Clues

By Administrator_India Capital Sands The dollar was down on Thursday morning in Asia, moving towards the middle of a range that it has stuck to for the past month. Investors now look to the U.S. Federal Reserve’s policy decision, due to be handed down next week, for further clues on when the central bank will begin asset tapering. The U.S. Dollar Index that tracks the greenback against a basket of other currencies inched down 0.05% to 92.485 by 11:57 PM ET (3:57 AM GMT). The USD/JPY pair inched down 0.05% to 109.31. The AUD/USD pair edged down 0.14% to 0.7324. Australian jobs data released earlier in the day showed that the employment change contracted by 146,300, while the full employment change contracted by 68,000, in August. The unemployment rate was 4.5%. The NZD/USD...

Dollar drifts as soft inflation raises taper timing questions

15Sep

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U.S

Dollar drifts as soft inflation raises taper timing questions

By Administrator_India Capital Sands The dollar drifted within recent ranges against major peers on Wednesday after softer-than-expected U.S. inflation raised doubts about a taper of Federal Reserve stimulus this year. The dollar index stood at 92.632, little changed from Tuesday, when it dropped following the inflation data only to recover on haven demand as stocks slid on Wall Street. The index has meandered between 92.3 and 92.9 over the past week as several Fed officials have suggested the U.S. central bank could reduce its buying of debt securities by the end of the year, even after a much-weaker-than-expected payrolls report at the start of the month. While elevated inflation has kept pressure on policymakers, data overnight showed the U.S. consumer price index, exclud...

Dollar Up, Remains Near One-Week High Ahead of ECB Policy Decision

8Sep

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U.S

Dollar Up, Remains Near One-Week High Ahead of ECB Policy Decision

By Administrator_India Capital Sands The dollar was up on Wednesday morning in Asia, remaining near a one-week high. A weaker euro ahead of Thursday’s policy decision from the European Central Bank (ECB) gave the U.S. currency a boost. The U.S. Dollar Index that tracks the greenback against a basket of other currencies inched up 0.03% to 92.543 by 12:01 AM ET (4:01 AM GMT). It remained just below Tuesday's high of 92.571, last hit on Sep. 1. The USD/JPY pair inched up 0.02% to 110.30. The AUD/USD pair inched up 0.05% to 0.7389 and the NZD/USD pair edged up 0.14% to 0.7107. The USD/CNY pair inched down 0.04% to 6.4636 and the GBP/USD pair inched down 0.03% to 1.3779. Investors now await the U.S. Federal Reserve’s policy decision for September, where the central bank is ...

US-India flights to take longer after Afghanistan’s airspace shuts

17Aug

By Administrator_IndiaNo Comments

U.S

US-India flights to take longer after Afghanistan’s airspace shuts

By Administrator_India Capital Sands Flights on the India-US and Europe routes could take up to 30 minutes more than usual as airlines have been asked to avoid Afghanistan’s airspace after the Taliban took control of the country’s capital Kabul. Afghanistan’s Civil Aviation Authority on Monday issued a notice to air carriers stating that the airspace had been released to the military and advised transit flights to reroute, saying there would be no air traffic control (ATC). Sources said the airspace was shut as there were no staff to man the ATC after the Taliban took power. As a result of this sudden decision, state-owned Air India cancelled its Delhi-Kabul-Delhi flight that was scheduled to operate on Monday to avoid Afghanistan’s airspace after it was declared “uncontrolled”...

15Jul

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U.S

Dollar regroups after Powell push

By Administrator_India Capital Sands The dollar retreated from recent peaks on Thursday, following further reassurance from Federal Reserve chair Jerome Powell that he was in no rush to tighten policy, though losses were kept in check by investor nerves ahead of Chinese growth data. Powell said overnight that high inflation seemed linked to reopening, that it would be a mistake to act prematurely to tame it and that tapering bond buying was "still a ways off". The remarks pulled the dollar back from a three-month high against the euro and from a one-week high on the yen, though it soon found a footing in the Asia session as traders nervously awaited Chinese data to see whether it indicated a slowdown. China unexpectedly loosened monetary policy last week, driving speculation...