Currencies
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.12 per cent to 89.76. It opened at 73.02 against the US dollar and fell to 73.15 against the greenback, registering a fall of 13 paise over its previous close. The rupee depreciated by 13 paise to 73.15 against the US dollar in opening trade on Tuesday tracking the muted opening in domestic equities. Today we associate money primarily with national currencies: dollar, euro or Swiss franc.
On Monday, the rupee appreciated by 9 paise to close at a four-month high of 73.02 against the US dollar. Shareholders of travel group Tui are to decide whether to accept a 500-million-euro capital increase as part of the pandemic-battered company’s third rescue package.
On Monday, the rupee appreciated by 9 paise to close at a four-month high of 73.02 against the US dollar. Shareholders of travel group Tui are to decide whether to accept a 500-million-euro capital increase as part of the pandemic-battered company’s third rescue package.
Metals
This is good news for gold (up on Monday) and awful news for rate-sensitive sectors such as financial and real estate (down a lot to start the year). Major oil producers will meet later on Tuesday to decide on output levels for February after talks broke down the previous day.Gold was slightly lower. Spot gold fell 0.21 per cent to$1,938.25 per ounce. less Copper was the best performing base metal in 2020 giving a return of about 34 per cent on the Multi Commodity Exchange.
Oil
Brent crude futures, the global oil benchmark, fell 0.18 per cent to $51.00 per barrel. Meanwhile, the global oil benchmark, Brent crude, was trading 0.14 per cent lower at $51.02 per barrel. Hard weeks in England, OPEC+ hits obstacles and NYSE changes its mind.
United States
Traders said market participants remained cautious ahead of the outcome over the run-off elections in Georgia that will determine control of the US Senate. In addition, traders will be eyeing the minutes of the December Federal Reserve meeting, the US ISM manufacturing and non-manufacturing data and the US monthly jobs report. It caused the Fed to get more dovish, which helped set the scene for 3.6% EPS growth in 2019 which isn’t that bad. Wall Street’s guide to 2021.
Europe
Germany’s Angela Merkel will speak to the country’s regional premiers to discuss an extension of lockdowns.
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