A sustained recovery in Asian markets, Nomura said, will largely depend on how the Covid situation and the ensuing curbs put in place to combat the pandemic in China plays out going ahead
Global shares were mixed Monday while the British pound declined to an all-time low against the US dollar on concerns over planned tax cuts. France's CAC 40 rose 0.2% in early trading to 5,795.88, while Germany's DAX added 0.2% to 12,311.57. Britain's FTSE 100 edged 0.1% higher to 7,025.51. The futures for the Dow industrials and the S&P 500 were 0.1% lower. In Asian trading, Japan's benchmark Nikkei 225 shed 2.7% to finish at 26,431.55. Australia's S&P/ASX 200 dipped 1.6% to 6,469.40. South Korea's Kospi dropped 3.0% to 2,220.94. Hong Kong's Hang Seng gave up 0.4% to 17,855.14, while the Shanghai Composite lost 1.2% to 3,051.23. The British pound's slide against the dollar picked up pace last week after the UK's new government outlined plans to cut taxes and boost spending. The weakening currency piles pressure on the UK's new Conservative government, which has gambled that slashing taxes and increasing borrowing to compensate will spur economic growth. Many economists say .
Bullion's extended retreat -- with prices on course for a sixth consecutive monthly drop in September -- has driven prices close to bear-market territory
Analysts expect rupee to trade in the range of 78-80 per dollar, for now
Data signaling strength in the US economy has prompted traders to bet on a 75-basis-point interest rate hike by the Fed later this month
The US Fed raised the target range for the federal funds rate by another 75 bps to 2.25-2.50 per cent in its July meeting. The FOMC statement has downgraded its assessment of the economic situation
CLOSING BELL: Tata Steel, Kotak Bank, IndusInd Bank, Nestle, Infosys, Asian Paints, and Tech M were the other outperformers, up between 3 per cent and 4.6 per cent
(Reuters) - Gold prices rose on Wednesday, buoyed by a softer U.S. dollar, though prices were range-bound as investors were cautious ahead of the U.S. Federal Reserve's policy decision later in the day.
Inflation as measured by the CPI index stood at 7.04 in May 2022, higher than the Reserve Bank of India's (RBI's) comfort zone of 2 - 6 per cent
CLOSING BELL: The S&P BSE Sensex and the Nifty50 indices hit fresh 52-week lows as they spiraled 2 per cent down
CLOSING BELL: NTPC, Infosys, HUL, Wipro, and RIL slipped over 1 per cent each
CLOSING BELL: Select IT, metals, and pharma stocks helped the headline indices recover from the day's low
(Reuters) - Gold prices fell on Wednesday as the dollar firmed in the run-up to minutes from the U.S. Federal Reserve's May policy meeting, which could provide cues on its policy tightening path.
In the last policy meeting in April, the monetary policy committee (MPC) of the RBI had shifted its focus to tackle the rising inflation in India after the Russian invasion of Ukraine
"I think we can all absolutely agree inflation is too high and bringing inflation down is of paramount importance," Federal Reserve Governor said at a conference at the Minneapolis Fed
Investors in India are worried about a possible interest rate hike by the US Fed, which is under pressure to cap inflation. Experts believe that a 25 basis point hike is already penciled in.
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European stocks were mostly higher or unchanged on the day, while U.S. futures pointed to small declines at the open on Wall Street
Money managers back the asset because they see real yields remaining negative as the US Fed struggles to tighten policy enough to push interest rates above inflation.
The central bank in December announced plans to buy its last tranche of government securities in February, sooner than it had projected just a month earlier.