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US dollar clings to gains as bets on further Fed hikes firm

Economic News
150 views 3 mins

The dollar fought for a footing in choppy trade on Thursday, with support from upbeat U.S. data and hawkish policymaker comments, while the prospect of higher energy prices helped exporters’ currencies and weighed on those of importers. The dollar rose 1% on the euro and 1.3% on sterling overnight and was trying to hold those […]

FEATURE

Oil Prices Rise to Near $90 as OPEC Cut Looms

Stock Market
148 views 3 mins

Oil prices rose further on Tuesday as markets positioned for the biggest supply cut by OPEC since the 2020 COVID crisis, with weakness in the dollar also helping. London-traded Brent oil futures the global benchmark, rose 0.6% to $89.28 a barrel, while West Texas Intermediate crude futures rose 0.2% to $83.82 a barrel. Both contracts jumped […]

FEATURE

Gold Steadies Above $1,650 as Safe Haven Appeal Creeps Back in

Economic News
148 views 3 mins

Gold prices steadied above a major support level on Monday as growing risks of an economic recession spurred some safe-haven demand for the yellow metal. Prices also recovered marginally from a bruising September, where they dropped 3%. Bullion prices marked their worst quarter since March 2021 with a 7.5% drop. Spot rose 0.2% to $1,663.99 an ounce, while gold futures were flat around $1,672 an ounce […]

FEATURE

Oil Heads For Fourth Straight Monthly Loss as OPEC Meeting Looms

Economic News
153 views 3 mins

Oil prices rose slightly on Friday, but were set for a fourth straight month of losses amid growing concerns over weakening demand, with the focus now turning to a potential supply cut by the OPEC next week. London-traded Brent oil futures, the global benchmark,  were flat at $87.50 a barrel by 21:55 ET (01:55 GMT), […]

FEATURE

Govt hikes DA by 4% under 7th Pay Commission; details here

Uncategorized
177 views 2 mins

The Union Cabinet has hiked the  Dearness Allowance (DA) of central government employees and pensioners by 4 percent under the 7th Pay Commission, The hike takes DA to 38 percent from the current 34 percent of basic pay/pension. The Finance Ministry said that the central government employees and pensioners will become entitled to a higher […]

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Asia FX Battered by Hawkish Fedspeak, Dollar Back at 20-Year Peak

Asian Stocks
153 views 3 mins

Asian currencies plummeted on Wednesday, while the dollar surged to new 20-year highs on hawkish comments from Federal Reserve officials and growing safe haven demand. The dollar index jumped 0.4% to a new 20-year high of 114.68, while dollar index futures rose in a similar range. A broad market rout in risk-driven assets also drove […]

FEATURE

Indian economy showing resilience and recovery: CEA

Market
148 views 55 secs

However, there are challenges, and geopolitics is messy for which foreign investors are cautious, the CEA said. Chief Economic Advisor (CEA) V Anantha Nageswaran has said the Indian economy was on the path to recovery but cautioned that foreign investors may remain cautious because of geopolitical challenges. Speaking at a virtual seminar organised by Swadeshi Research Institute, […]

FEATURE

Indian economy showing resilience and recovery: CEA

Market
137 views 55 secs

However, there are challenges, and geopolitics is messy for which foreign investors are cautious, the CEA said. Chief Economic Advisor (CEA) V Anantha Nageswaran has said the Indian economy was on the path to recovery but cautioned that foreign investors may remain cautious because of geopolitical challenges. Speaking at a virtual seminar organised by Swadeshi Research Institute, […]