Friday, September 24

U.S

Dollar Up, but Remains Near Week Low Even as Risk Sentiment Slowly Improves
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
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
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
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
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
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”...
Dollar regroups after Powell push
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...
US delivering supplies worth over $100 million to India; first flight to land today: White House
U.S

US delivering supplies worth over $100 million to India; first flight to land today: White House

By Administrator_India Capital Sands The United States will be delivering COVID-19 relief materials worth over USD100 million to India in the coming days, the White House said as the first flight carrying urgent health supplies left for the country. The flight took off from the Travis Air Force Base on the world's largest military aircraft on Wednesday night, the US Agency for International Development said. The shipment includes 440 oxygen cylinders and regulators, generously donated by the state of California, USAID said. In addition, on this first flight, USAID is sending 960,000 Rapid Diagnostic Tests to identify infections early to help prevent the community spread of COVID-19, and 100,000 N95 masks to protect India's frontline healthcare heroes, it added. US state g...
Strong economic data lifts Dow, S&P 500 to record closes
U.S

Strong economic data lifts Dow, S&P 500 to record closes

By Administrator_India Capital Sands US stocks rallied on Monday with the Dow and S&P 500 closing at record levels, as a round of strong economic data buoyed investor optimism for the economic reopening and a muted climb in the 10-year U.S. Treasury yield kept inflation worries in check. An ISM survey for March showed a measure of U.S. services industry activity jumped to a record high. The data followed Friday’s report showing U.S. nonfarm payrolls surged by 916,000 jobs in March, trouncing forecasts. Investors have bet on cyclical sectors poised to lead an economic reopening, with energy, financials and materials among the best performing on the year. A climbing yield on the 10-year U.S. Treasury note has dented appetite for technology stocks. Despite strong economic...
US House approves Donald Trump’s $2,000 checks, sending to GOP-led Senate
U.S

US House approves Donald Trump’s $2,000 checks, sending to GOP-led Senate

By Administrator_India Capital Sands The House has voted to increase COVID-19 relief checks to USD 2,000, meeting President Donald Trump's demand for bigger payments and sending the bill to the GOP-controlled Senate, where the outcome is uncertain. Democrats led passage, 275-134, their majority favouring additional assistance. They had settled for smaller USD 600 payments in a compromise with Republicans over the big year-end relief bill Trump reluctantly signed into law. The vote divides Republicans who mostly resist more spending. But many House Republicans joined in support, despite being wary of bucking the president. Senators are set to return to session on Tuesday to consider the measure.