YUAN NEWS
GIFT Nifty jumps 90 points; here's the trading setup for today's session
Market anticipates Nifty consolidation post-profit booking. Brent crude, US WTI futures rise on strong fuel demand hopes. Currency markets stable as rupee weakens. FIIs cut net long positions, adding to market uncertainty.
GIFT Nifty signals a positive start for D-Street. Here's the trading setup for today's session
Domestic markets showed gains driven by positive sentiment on expectations of a discretionary spending rebound. Investors focus on upcoming US job data and Fed Chair's speech for interest rate insights. Nifty futures trade higher with a positive trend intact. Oil prices remain steady near highs, supported by rising fuel demand outlook. FII and DII actions impact rupee's performance.
Rupee falls to record low hurt by likely outflows, importer dollar demand
The currency fell to a record low of 83.6650 against the U.S. dollar in the latter half of Thursday's trading session, closing at 83.6425. This marks a decline from the previous session's close of 83.4550. Traders attributed the currency's weakness to a broadly stronger dollar and a weakening Chinese yuan, which exerted additional pressure on the Indian currency throughout the day.
Rupee falls to record low hurt by likely dollar outflows, importer dollar demand
The rupee declined to a lifetime low of 83.62 against the U.S. dollar in the latter half of Thursday’s trading session and was last quoted at 83.5975. The local currency had closed at 83.4550 in the previous session.
GIFT Nifty signals a muted start for D-Street. Here's the trading setup for today's session
Domestic markets hit new highs for the fifth day, with Nifty futures trading higher. Brent crude futures rose, while US West Texas Intermediate crude dropped. The rupee settled lower against the US dollar.
GIFT Nifty signals a positive start for D-Street. Here's the trading setup for today's session
Domestic markets rose driven by global cues and domestic buying. Expectations for the next week are positive with macro trends, government spending, monsoon, and earnings support.
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China's central bank leaves key policy rate unchanged as expected
China's central bank kept the medium-term lending facility (MLF) rate unchanged at 2.50%, aligning with market expectations. The decision reflects concerns over narrowing bank profit margins and a weakening yuan. The unchanged MLF rate, which influences loan prime rates, indicates limited room for easing monetary policy amidst internal and external economic pressures.
Evergrande liquidation law firm probing PwC, others for potential claims
Lawyers for China Evergrande Group's liquidators are investigating its former auditor, PwC, and other service providers to recover losses for creditors. Ordered into liquidation in January due to defaulting on $23 billion in offshore debt, Evergrande's extensive $300 billion liabilities make its case a potential model for future Chinese corporate liquidations. The probe focuses on potential wrongdoing that led to Evergrande's financial collapse.
GIFT Nifty rises 90 points; here's the trading setup for today's session
Nifty scaled fresh highs but saw profit booking. SGX Nifty signals a positive start. Tech View warns of a downward correction. Nagaraj Shetti expects selloff below 23200 levels. Global markets show mixed movements. Oil prices fell. Stocks in F&O ban today include Balrampur Chini Mills, SAIL, and India Cements.
GIFT Nifty drops 50 points; here's the trading setup for today's session
Domestic markets ended flat post-election recovery. Investors await US CPI data and Fed policy outcome for market direction.
Rupee closes at record low vs dollar ahead of US Fed statement
Recently released data showing a larger-than-expected jobs addition in the US has dampened hopes of the Federal Reserve lowering interest rates while sharp weakness in the Chinese yuan versus the US dollar over the past couple of days has dragged Asian currencies lower, dealers said.
GIFT Nifty jumps 50 points; here's the trading setup for today's session
Domestic equities closed marginally on Monday due to selling in IT stocks and HDFC Bank. Investors await US Fed, BoJ policy outcomes, and US, India CPI data for market clarity.
China allocates billions of dollars to bailout its crisis-hit property sector
China has taken decisive measures to tackle the crisis in its property sector, which has been a crucial driver of its economic growth. The People's Bank of China has announced a 300-billion-yuan relending facility to support government-subsidized housing projects. Local state-owned enterprises are encouraged to purchase completed commercial homes to provide affordable housing. Commercial banks have issued significant loans for real estate development and individual housing.
China's $138 billion stimulus bond sale starts on Friday
The finance ministry confirmed what four sources had told Reuters earlier on Monday that the 1 trillion yuan ($138.23 billion) of special government bonds would have tenors of 20 to 50 years and issuance will begin on May 17. The sources who have direct knowledge of the plans said 300 billion yuan worth of 20-year bonds, 600 billion yuan worth of 30-year bonds and 100 billion yuan worth of 50-year bonds would be issued.
Inflation concerns weigh on gold as yellow metal ends with second weekly declines
Spot gold closed $2 down at $2301 in a highly volatile market Friday. US nonfarm payroll and ISM services data fell short of forecast; however, inflationary pressure continues to build up.
Fired Microsoft engineer takes up goose farming as new career: Check viral LinkedIn profile
Feng Yuan's viral journey from a 22-year tenure at Microsoft to becoming a goose farmer has captivated social media. Initially shared by X user Smarika Malviya, Yuan's career shift reflects a desire for personal fulfillment. Despite his dismissal due to "low performance," Yuan's pride in his work and transition to farming have garnered admiration and curiosity from social media users.
Rupee vs Dollar: INR to remain range bound in near term, offer hedging opportunities to importers, exporters
Flows from foreign portfolio investors (FPIs) would have an impact on the movement of rupee against the US dollar bringing it to the downside on occasion.
Japan warns of action against excessive yen volatility
Suzuki stopped short of threatening to take "decisive action" against excessive moves, language the minister used last week when the yen slumped to a 34-year low, suggesting officials are keeping their powder dry as they watch how currency moves play out.
Dollar a spectator to China news, yen ponders rate risks
The dollar held steady on the yuan on Tuesday as markets digested a welter of policy statements out of China, while a rebound in Tokyo inflation seemed to take Japan a step closer to the end of negative interest rates.
China's yuan ousts dollar to become most traded currency in Moscow in 2023
Yuan trading accounted for almost 42% of all foreign currency traded on Moscow Exchange with the volume in 2023 more than tripling year on year to 34.15 trillion roubles ($391.5 billion), Kommersant reported, citing Moscow Exchange data.
How China talked markets out of a run on the yuan
This year, as China's economy wobbled and money left the country, the PBOC took a starkly different approach, defending the currency by signalling to markets what kind of selling it would and would not tolerate.
Rupee ends weaker despite yuan rally as oil companies, importers capture dollar dip
The Indian rupee weakened despite a rally in the Chinese yuan and a softer U.S. dollar. Dollar demand from oil companies and importers kept the rupee's strength in check.
Dollar dips after recent gains; U.S. stocks advance with Apple
The dollar index's weekly winning streak would be its longest since 2014, bolstered by recent reports showing the U.S. economy remains resilient.
China's economic slowdown alarms international leaders, investors: Report
For the first time in decades, China, the world's second economy is itself in trouble and investors, global leaders are fretting. The Chinese yuan, last week, fell to its lowest level in 16 years, prompting the central bank to make its biggest defence of the currency on record by setting a much higher rate to the dollar than the estimated market value.
Asia stocks stall, yuan slips as China cuts rates
The U.S. dollar hovered near 2023 highs on Asian currencies on a combination of rising U.S. Treasury yields and nervousness about the extent of crisis in China's property industry, which has been dragging down the yuan in spite of official resistance.
Rupee sees worst month of 2023 on dollar strength
The Indian rupee had a nearly stable day against the US dollar, closing at 82.7225, but marked its worst monthly performance, with a 1% fall in May 2023. The dollar's strength caused the drop, but inflows from MSCI Index rebalancing into equities helped offset the weakening rupee. The rupee’s technical support level is familiar and has held steady before, adding to some stability. Investors are watching the US House of Representatives' debt ceiling legislation debate, as well as Friday's US jobs data and India's GDP data due later on Wednesday.
Rupee hits six-week low as weaker yuan dents Asian currencies
The Indian rupee hit a more-than-six-week low against the U.S. dollar on Wednesday, in line with the decline in other Asian currencies that tracked the fall in the Chinese yuan after weak economic data. The rupee hit 82.4425 against the U.S. dollar, its lowest since April 3, during the session, before recovering to close up 0.21% at 82.38. The Chinese yuan fell to 7.
COVID-19 infection can change structure of our genes: Study
The genetic materials in our cells are stored in a structure called chromatin. Some viruses of other categories have been reported to hijack or change our chromatin so that they can successfully reproduce in our cells.
Rupee scales near 3-wk high as Chinese yuan boosts Asian FX
The rupee rose 0.20% to 82.50 per dollar, having strengthened up to 82.37 at one point, near its 55-day moving average of 82.3514 and at its highest level since Feb. 10.There were a "decent" amount of inflows into the market, and the broader sentiment was better, while a pullback in the dollar index helped the rupee, said a dealer at a private bank
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