NEW YORK/LONDON – The dollar slid from a five-week high on Monday, pressured by a weak manufacturing index in New York state and as it consolidated gains made last week amid fears about the debt ceiling and the US economy. In emerging markets, the Turkish lira sank to a near record low as weekend elections … Read more
Banking industry concerns continue to recede, though the risk of banks’ deposit outflows to money market funds may affect the lending process of the banks, which means that eventually, there is a distinct possibility of economic slowdown in the coming months. In absence of any major negative headlines concerning the banking sector, risk appetite has … Read more
COMEX Gold prices started the week on a negative note, plunging almost 2.5% in the first two days. The yellow metal approached an eleven-week low of $1,810.8 per troy ounce notched in the previous week, as Fed chair Jerome Powell unveiled a hawkish tilt. During the congressional testimony, Fed chair Jerome Powell said that the … Read more
NEW DELHI: On the back of corporate dollar outflows, the Indian rupee today plunged 1% to end at a month-low of 82.61 against the US dollar. The dollar index, which measures the strength of the greenback against a basket of six major currencies, hung on to most of the previous session’s gains to be the … Read more
Amid a spurt in the US Dollar index and bond yields, foreign institutional investors or FIIs are back to selling mode on Dalal Street. Last Friday alone, FIIs dumped Indian stocks worth around Rs 2,900 crore, shows NSDL data. FIIs, which were net buyers to the tune of over Rs 51,000 crore last month, have … Read more
Spot gold closed Friday with a gain of nearly 0.50% at $1717.10 as the US Dollar Index retreated 0.67% to close at 108.97. A confluence of factors led to a decline in the Dollar Index, none of which may last for long. The dollar fell as the US treasury secretary Ms Yellen commented that the … Read more
NEW DELHI: Despite Friday’s profit booking, headline index Nifty managed to close on a positive note for the fifth week in a row by registering a weekly gain of 0.34 per cent. As the peak of the earnings season is now over, the attention now shifts to macro events, FII flows and the movement in … Read more
The Centre and the Reserve Bank of India (RBI) have been taking steps to attract capital inflows so the rupee’s depreciation against the dollar is smooth and gradual, government officials said. They pointed out that the dollar has strengthened against other currencies too, as global investors have become cautious, and the weakening of the rupee … Read more
NEW DELHI – The rupee slumped to an all-time low against the US dollar on Monday as a higher-than-expected inflation reading in the world’s largest economy stoked speculation of aggressive rate hikes by the Federal Reserve, leading to global strength in the greenback. The partially convertible rupee weakened past the 78/$1 mark for the first … Read more
NEW DELHI: The Reserve Bank of India, it seems, just cannot catch a break. Just when the consumer price index-based inflation was showing signs of easing, one of India’s traditional bugbears has resurfaced: a spike in crude oil price. Global oil prices surged to a multi-year high on Monday after the Organization of the Petroleum … Read more