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Asia shares camp on high ground, oil jumps on Libya shutdown
By Ritu, Capital Sands Asian shares neared a 20-month top on Monday as Wall Street extended its run of record peaks on solid U.S. economic data and lashes of liquidity from the Federal Reserve. Oil prices jumped as oilfields in southwest Libya began shutting down after forces loyal to Khalifa Haftar closed a pipeline, potentially […]
European shares at record high as cross-Atlantic trade tensions abate
By Ritu, Capital Sands European shares touched a record high on Friday after EU Trade Commissioner Phil Hogan struck a positive tone on talks with Washington, soothing some concerns over a possible escalation in trade tensions between the cross-Atlantic allies. The pan STOXX 600 index rose as much as 0.8% to a record high of […]
GBP/USD: Probes five-week-old falling trendline near 1.3080
By Ritu, Capital Sands GBP/USD stays positive around a one-week high while taking the bids to 1.3080 during the Asian session on Friday. The pair confronts a short-term key resistance trend line following its U-turn from a multi-month-old rising support line. The GBP/USD pair is holding on to daily gains around 1.3070, positive in […]
Gold Prices Slips on U.S.-China Deal
By Ritu, Capital Sands Gold prices slipped on Thursday in Asia after the U.S. and China signed a historic trade deal. Gold Futures slipped 0.1% to $1,552.15 by 1:30 AM ET (05:30 GMT). Tensions remained however, as Washington decided to keep duties on some $360 billion of Chinese goods. Some analysts also pointed out that the […]
Asian Stocks Rise as U.S.-China Signs Phase One Trade Deal
By Ritu, Capital Sands Asian stock markets traded mostly higher on Thursday in Asia as investors cheered the signing of the phase one U.S.-China trade deal. China’s Shenzhen Composite rose 0.2%, while the Shanghai Composite slipped 0.1%. Hong Kong’s Hang Seng Index climbed 0.4%. Overnight, officials from the U.S. and China signed the phase one trade agreement, putting their […]
Michael Patra appointed deputy governor of RBI for a three-year term
By Ritu, Capital Sands Michael Debabrata Patra, 59, has been appointed the Reserve Bank of India (RBI) deputy governor for three years. The post fell vacant after Viral Acharya resigned on July 23 last year. Patra, as executive director of the central bank, was the principal advisor to the Monetary Policy Department since July 2012. […]
Pound on Longest Losing Streak Since May on BOE Easing Talk
By Ritu, Capital Sands The pound extended its decline to the longest run in eight months as speculation of an imminent Bank of England interest-rate cut increased. Sterling fell as much as 0.3% against the dollar to $1.2955. Credit Agricole SA pointed out that more than half of the members of the bank’s Monetary Policy Committee are […]
By Ritu, Capital Sands Asian stocks rose in morning trade on Tuesday after the U.S. dropped China’s currency manipulator label, saying that it has made “enforceable commitments” not to devalue the yuan. China’s Shanghai Composite inched up 0.1%, while the Shenzhen Component gained 0.3%. “China has made enforceable commitments to refrain from competitive devaluation, while promoting transparency and accountability. […]