Category: Forex

US Congress deal for COVID-19 relief and its impact

Dollar Up, no Big Moves Ahead of U.S. Election

By Administrator_ India Capital Sands The U.S. Dollar Index that tracks the greenback against a basket of other currencies inched up 0.05% to 94.093 by 11:17 PM ET (3:17 AM GMT). The dollar held onto gains from the previous week, seeing its largest weekly percentage rise since late September during the previous session as investors cautiously turned to the safe-haven asset. Although […]

US Congress deal for COVID-19 relief and its impact

Dollar Down, U.S.-China Tensions Rise

By Administrator_ India Capital Sands The U.S. Dollar Index, which tracks the greenback against a basket of other currencies, edged down 0.11% to 92.942 by 10:31 AM ET (2:31 AM GMT). On the COVID-19 front, the U.S., Russia and France all set new records for the number of daily COVID-19 cases. There are over 43.4 million cases globally as of Oct. […]

US Congress deal for COVID-19 relief and its impact

Dollar Down With Investors Looking to Thursday’s ECB Meeting

By Administrator_India Capital Sands The dollar was down on Thursday morning in Asia, ahead of the ECB meeting taking place later in the day. The U.S. Dollar Index that tracks the greenback against a basket of other currencies edged down 0.10% to 93.165 by 11:54 PM ET (4:54 AM GMT). The euro held onto gains against the greenback ahead of the meeting, […]

Reliance Communications’ resolution in limbo as DoT raises objection

By Administrator_India Capital Sands The Department of Telecommunications has objected to the resolution plan for Reliance Communications, as well as its unit Reliance Telecom, at the National Company Law Tribunal (NCLT), Mumbai. The NCLT has adjourned its hearing on the resolution plan for the firms till August 21. The Department of Telecommunications will file written submissions by then. According to the resolution plan […]

U.S. Economy Shrinks by Historic 32.9%; Jobless Claims Rise Again

By Administrator_India Capital Sands The U.S. economy contracted by an unprecedented annualised rate of 32.9% in the second quarter, the Commerce Department reported Thursday, the worst decline since the Great Depression as the coronavirus pandemic hammered consumer spending. Economists had forecast a slightly larger decline of 34.1% after a 5% contraction in the first quarter, although they warned that the figure […]

Dollar’s History of Year-End Dominance Threatened by Stimulus

Dollar finds footing as Sino-U.S. tensions escalate

By Administrator_India Capital Sands The dollar crept off milestone lows against other majors on Thursday, and held on to gains against the yuan, as heightened Sino-U.S. tension put a bit of caution into currency markets. China has vowed to respond and the escalation in tension between the world’s two largest economies sent the yuan on its sharpest slide in nearly […]

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 […]

U.S. Treasury blasts records with $3 trillion borrowing need this quarter

By Administrator_India Capital Sands The U.S. Treasury Department on Monday said it plans to borrow nearly $3 trillion in the second quarter of 2020 – more than five times larger than the previous record – as the federal government spends at a frantic pace to mitigate the impact of the coronavirus on the U.S. economy. In a statement, Treasury said […]

Trump says up to 100,000 Americans may die from coronavirus

By Administrator_India Capital Sands U.S. President Donald Trump said on Sunday he now believes as many as 100,000 Americans could die in the coronavirus pandemic, after the death toll passed his earlier estimates, but said he was confident a vaccine would be developed by the year’s end. Trump alternated during a two-hour virtual town hall broadcast by FOX News between […]

Europe Pushes Higher on Virus Hopes, Chinese Data

Europe Pushes Higher on Virus Hopes, Chinese Data

By Administrator_India Capital Sands European stock markets pushed mostly higher Tuesday, as traders returned from the Easter break hopeful the coronavirus outbreak may be peaking.  At 3:35 AM ET (0735 GMT), the DAX in Germany rose 1.1%, France’s CAC 40 was up 0.5%, while the FTSE 100 in the U.K. underperformed, falling 0.1%. The broader based Stoxx 600 Europe index climbed 0.8%.  The number of confirmed cases of […]