Dollar dips as virus recovery optimism holds
By Administrator_India Capital Sands The dollar inched lower on Tuesday as growing optimism about a global recovery from the COVID-19 pandemic supported riskier currencies, though concerns about Sino-U.S. tensions held further moves in check. After a quiet start to the week due to holidays in Britain and the United States, the greenback was a fraction […]
Oil falls as U.S.-China tensions take toll
By Administrator_India Capital Sands Oil prices eased on Monday on concerns over rising tensions between the United States and China over Beijing’s plans to impose security laws on Hong Kong and the possibility of sanctions from Washington. Oil prices have risen sharply in recent weeks as an easing of coronavirus restrictions has led to […]
Dollar holds advantage as Powell quashes negative rates, data in focus
By Administrator_India Capital Sands The dollar held onto gains against major currencies on Thursday after U.S. Federal Reserve Chairman Jerome Powell dismissed speculation that policymakers will adopt negative interest rates. The Australian dollar was under pressure before closely-watched data on the jobs market, which may help determine how much more monetary and fiscal easing is […]
Oil falls on second wave outbreak fears, rise in U.S. inventories
By Administrator_India Capital Sands Oil prices fell on Wednesday on worries about a possible second wave of coronavirus cases in countries starting to ease lockdowns, while industry data showed a rise in U.S. crude inventories. The concerns overshadowed a further call by Saudi Arabia for larger production cuts to balance the market following a virus-induced demand slump […]
India’s fuel demand growth could return to normal by mid-May
By Ritu, Capital Sands India’s fuel demand growth could return to normal levels by mid-May as the nation takes steps to end a lockdown aimed at stemming the spread of COVID-19, oil minister Dharmendra Pradhan said, helping refiners hit by severe inventory losses. Fuel demand growth in India, the world’s third-biggest oil importer and consumer, […]
Dollar Up in The Aftermath of Bad Economic News
By Administrator_India Capital Sands The dollar was up on Thursday morning in Asia with investor risk appetite soured by an onslaught of bad economic news. The US Dollar Index that tracks the greenback against a basket of other currencies gained 0.05% to 100.185, as investors looked to the dollar as a safe haven. The U.S. said overnight that private employers laid […]
Australian retail sales surge in March, might avert first-quarter GDP contraction
By Administrator_India Capital Sands Australian retail sales surged by the most on record in March as a lockdown for the coronavirus spurred panic buying of food and other staples, perhaps saving the entire economy from a damaging contraction in the first quarter. Sales will likely plunge back in April due to strict social distancing rules […]
Global creditors agree debt relief for poor countries hit by pandemic
By Administrator_India Capital Sands Major international creditors will suspend debt payments this year for the world’s poorest countries, who will be hit hardest by the rapidly spreading coronavirus pandemic that has sparked the steepest downturn in the global economy since the 1930s. French Finance Minister Bruno Le Maire said some 76 countries, including 40 in […]
India extends world’s biggest lockdown as coronavirus cases cross 10,000
By Administrator_India Capital Sands India extended on Tuesday a nationwide lockdown for its 1.3 billion people until May 3 as its prime minister warned of economic sacrifices to save lives as the number of coronavirus cases crossed 10,000. Sharp downward revisions to economic growth forecasts in the wake of the pandemic point toward sickening levels […]
India MPC minutes reiterate focus on mitigating COVID-19 risks to economy
By Administrator_India Capital Sands The impact of the novel coronavirus outbreak on the Indian economy would depend on the depth, duration and diffusion of the crisis, the Reserve Bank of India said in the minutes of its emergency monetary policy committee meeting in March. The RBI in late March cut its main short-term lending rate […]