Category: Economic News

China Lets Traders Push Yuan Toward Best Quarter on Record

By Administrator_India Capital Sands The yuan has strengthened 4.2% since the end of June to 6.772 per dollar, set for the biggest ever quarterly gain in Bloomberg data going back to 1981. The currency is the best performer in Asia in the third quarter, with the buying momentum being close to the strongest since January. The yuan is being supported […]

Investors still remain attracted towards precious metals, thanks to US-China trade tensions

By Administrator_India Capital Sands Last week began with gold trading near record high levels, although a few factors along the way started to turn around, including hopes for a COVID-19 vaccine, rise in treasury yields, strong dollar and positive economic data. There are no words which can describe last week’s movement as even “wild swings” is an understatement. Although, after […]

China’s retail sales unexpectedly fall as consumer caution prevails

By Administrator_India Capital Sands China’s retail sales slipped in July, dashing expectations for a modest rise, as consumers in the world’s second-largest economy failed to shake off wariness about the coronavirus, while the recovery in the factory sector struggled to gain momentum. Asian markets pulled back on Friday following the disappointing set of economic indicators, which raised concerns about the […]

Oil Holds Near $41 Amid Concerns About U.S. Demand Recovery

By Administrator_India Capital Sands Oil held losses near $41 a barrel in New York as signs of weakness in the U.S. labor market cast doubt on the strength of the demand recovery in the world’s biggest crude consumer. The first increase in jobless claims since March comes as lawmakers negotiate another virus relief package, while infections and deaths surged across […]

Trump replaces campaign manager amid slide in opinion polls

By Administrator_India Capital Sands President Donald Trump demoted his longtime campaign manager on Wednesday, a move aimed at shoring up his re-election bid as he trails Democratic candidate Joe Biden in opinion polls less than four months before the Nov. 3 vote. In a Facebook post, Trump said campaign manager Brad Parscale would be replaced by Bill Stepien, who has been […]

Stocks in focus on September 18, 2020

Sensex, Nifty near four-month highs as HDFC Bank jumps

By Administrator_India Capital Sands Indian shares rose for a fourth straight session on Monday, as HDFC Bank Ltd gained after reporting strong loan growth and hopes of a recovery in the global economy pushed stock markets across Asia higher. The Nifty rose 0.98% to 10,711.05, while the Sensex was up 0.82% at 36,315.69, both trading near their four-month peaks. HDFC […]

Indian shares hit near four-month highs, Reliance rises on Intel investment

By Administrator_India Capital Sands Indian shares scaled near four-month highs on Friday, as upbeat data from the United States and China outweighed concerns about surging domestic cases of the novel coronavirus, while Reliance Industries climbed after Intel invested in its digital unit. The benchmark indexes rose for a third day, with the Nifty rising 0.39% to 10,592.55 and the Sensex […]

Gold Down Over Hopes For a COVID-19 Vaccine

By Administrator_India Capital Sands Gold was down on Thursday morning in Asia, with investor sentiment boosted by positive results from yet another potential COVID-19 vaccine. U.S. pharmaceutical company Pfizer announced the results from the early stage human trial for BNT162b1, its mRNA candidate jointly developed with German biotech firm BioNTech, on Wednesday. The results showed production of neutralizing antibodies in […]

Europe Weakens; Weighed by Losses in Oil Sector

Oil rises after drop in U.S. crude stocks suggests demand pickup

By Administrator_India Capital Sands Oil prices rose more than 1% on Wednesday after data showed crude inventories in the United States fell much more than expected, suggesting demand is improving even as the coronavirus outbreak spreads around the world. Brent crude rose 48 cents, or 1.2%, to $41.75 a barrel after declining more than 1% on Tuesday. U.S. crude was up […]

Dollar Retreats, With Investors Balancing Positive Chinese Data with Ever Increasing COVID-19 Numbers

By Administrator_India Capital Sands The dollar retreated on Tuesday morning in Asia, giving up it gains from the last session as investors balance positive trade data with increasing COVID-19 figures. China reported a higher-than-expected manufacturing Purchasing Manager’s Index of 50.9 earlier in the day. Meanwhile, COVID-19 continues its rampage, with over 10.2 million cases as of June 30 according to Johns Hopkins […]