Oil climbs lifted by U.S.-China trade deal hopes OPEC cuts
By Ritu, Capital Sands Oil prices rose on Thursday, buoyed by a potential breakthrough in the Sino-U.S. trade war and OPEC-led efforts to constrain supply, although trading was quiet as many markets were in holiday mode. Brent crude was up 28 cents, or 0.4%, at $67.48 a barrel by 0651 GMT. West Texas Intermediate […]
Cong bigwigs on ‘satyagraha’ against CAA, Jagan says won’t implement NRC
By Ritu, Capital Sands Stating that democracy in India is under threat from the BJP-led government at the Center, West Bengal Chief Minister Mamata Banerjee wrote to chief ministers and senior leaders belonging to opposition parties urging them to unite and chalk out a plan to “save the country”. As massive anti-Citizenship Amendment Act […]
Japan to trim annual government bond issuance next fiscal year – sources
By Ritu, Capital Sands Japan plans to trim government bond issuance by 0.5% next fiscal year from current year’s levels, government officials said on Wednesday, as Prime Minister Shinzo Abe walks a fine line between supporting an economy and reining in huge public debt. The drop would mark the seventh straight year of declines […]
Oil hovers near three-month high on trade optimism, supply cuts
By Ritu, Capital Sands Oil prices trickled a fraction lower on Tuesday but remained near a three-month high as investors kept the faith with hopes that a fully fledged U.S.-China trade deal is in the pipeline and set to stoke oil demand in the world’s biggest economies. Brent crude oil futures had slipped by three […]
Pound Gains on Brexit Optimism as Focus Shifts to Trade Talks
By Ritu, Capital Sands Want the lowdown on European markets? In your inbox before the open, every day. Sign up here. The pound rallied for a second day amid optimism a speedy resolution to the Brexit deadlock is in store after the Conservative Party’s election victory. Sterling advanced against all its major peers after Chief Secretary […]
Asian Markets Mixed as Lighthizer Says No Date is Set for Phase Two Talks
By Ritu, Capital Sands Asian markets were mixed on Monday morning in Asia as U.S. Trade Representative Robert Lighthizersaid the phase one Sino-U.S. trade deal is “totally done,” but no date is set for the next phase two talks. China’s Shanghai Composite slipped 0.1% by 11:35 PM ET, while the Shenzhen Component gained 0.6%. Hong Kong’s […]
Brexit relief for UK economy might not last long
By Ritu, Capital Sands Britain’s economy will cast off some of the Brexit uncertainty that has held it back since 2016 after Prime Minister Boris Johnson’s election triumph, but the risk remains of another “cliff-edge” showdown with Brussels in a year’s time. With Britain’s exit from the European Union on Jan. 31 now a […]
Sterling sparkles after election poll, Yuan up on trade deal reports
By Ritu Capital Sands The pound rose to a three-and-a-half year high versus the euro and the highest in more than a year versus the dollar after exit polls suggested a win for the Conservatives, which should help ensure the UK’s smooth exit from the European Union. The Chinese yuan rose in offshore trade and the Japanese […]
StockBeat: Dovish Fed Dominant Tories Push Europe Markets Higher
By Ritu, Capital Sands European stocks found their feet again on Wednesday after the Federal Reserve signalled that it’s likely to remain on hold throughout next year, seemingly convinced that historically low jobless rates won’t create enough inflationary pressure to warrant a rate hike. By 5 AM ET (1000 GMT), the benchmark Stoxx 600 was up […]
U.S. Dollar Slips After Fed; Pound Gains Ahead of ECB Meeting, Election
By Ritu, Capital Sands The U.S. dollar slipped on Thursday in Asia after the Federal Reserve kept interest rates on hold, suggesting that the current path of monetary policy was “appropriate” to support economic growth and would likely remain in place through next year. The U.S. dollar index that tracks the greenback against a […]