MOSCOW (Reuters) -The Russian rouble gave up early gains on Thursday to plunge to over two-week lows in volatile trade, pressured by the end of a favourable tax period and by expectations the government may try to curb the currency’s recent strengthening. Thursday marks the deadline for income tax payments that help support the rouble. This could see exporters cut back on selling their foreign currency earnings, although Russia’s…
By Scott Kanowsky The euro inched higher against the dollar on Friday, with investors weighing key European economic data as well as the implications of contracting U.S. growth and Federal Reserve interest rate hikes. At 02:52 EST (0652 GMT), the EUR/USD was trading up by 0.40% at $1.0237. The spotlight today will fall on the Eurozone gross domestic product figures for the second quarter. Economists are calling for GDP to rise 0.2% during…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar dropped to a three-week low in choppy trading on Friday, as investor concerns about recession outweighed inflation worries, for now, amid a mixed batch of economic data. There was also a lot of month-end position-squaring, analysts said. Earlier, U.S. economic numbers showed that inflation continued its red-hot rise in June, keeping the Federal Reserve on track to raise interest rates…
(Reuters) – Bitcoin rose 3.36% to $24,584.24 at 1707 GMT on Saturday, adding $798.93 to its previous close. Bitcoin, the world’s biggest, best-known cryptocurrency, is up 39.7% from the year’s low of $17,592.78, hit on June 18. Ether, the coin linked to the ethereum blockchain network,rose 0.61 % to $1,734.08 on Saturday, adding $10.46 to its previous close. Investing
TORONTO (Reuters) – The Canadian dollar will gain ground over the coming year as high commodity prices bolster Canada’s economic outlook and the Bank of Canada likely continues to raise interest rates aggressively, a Reuters poll showed. The loonie is the only G10 currency to keep pace with the U.S. dollar, a magnet for safe-haven flows, in 2022. The median forecast in the poll was for Canada’s currency to strengthen 0.4%…
NEW YORK (Reuters) -Speculators’ net long bets on the U.S. dollar fell to a five-week low, according to calculations by Reuters and U.S. Commodity Futures Trading Commission data released on Friday. The value of the net long dollar position was $14.71 billion for the week ended May 31. Last week, speculators’ net long position stood at $17.65 billion. U.S. dollar positioning was derived from net contracts of International Monetary…
By Sudarshan Varadhan and Nidhi Verma CHENNAI (Reuters) – Indian tycoon Mukesh Ambani’s $10 billion entry into renewable energy could drive solar tariffs further to the ground and ignite bidding wars with fellow billionaire Gautam Adani, industry analysts say. India’s two richest men are vying to be at the forefront of Prime Minister Narendra Modi’s ambition to ramp up green energy capacity in the world’s second-most populous country more…
Gold stocks and exchange-traded funds (ETFs) can be an effective way of gaining exposure to the precious metal. Traders that don’t want to invest in physical gold directly can choose to trade on the price movements of stocks that are involved in the mining, extraction and production of gold bullion or coins. In this article, we will discuss how to trade on gold stocks using derivative products, and we run…
European markets had another mixed session yesterday, with the FTSE 100 outperforming while the performance of markets in the US was pretty much identical to what happened on Monday, with the Russell 2000 outperforming and leaving its heavyweight peers of the S&P 500 and Dow trailing in its wake, albeit still just below record highs. What’s even more confusing is that despite increasing evidence that inflation risks could well be rising, bond yields are going into reverse,…
This week’s price action in equity markets appears to have been more or less dictated by how big a rise we might see in today’s US CPI report for May, as well as how the European Central Bank sees the current outlook for the economy in Europe over the next few months. US markets finished yesterday’s session on the back foot across the board, as investors geared up for…
