Currencies
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.05 per cent to 90.70. “Most of the Asian currencies are trading weaker against the dollar and could weigh on sentiments,” Reliance Securities said in a research note. At the interbank foreign exchange, the domestic unit opened at 73.41 against the dollar, then inched 6 paise higher to 73.36 against the American currency. With America s twin deficits approaching 20% of GDP, it is difficult to get bullish about the U.S. dollar, especially against commodities and hard assets.
In this way, the dollar is, as Treasury Secretary John Connally once said, our currency and your problem.
In this way, the dollar is, as Treasury Secretary John Connally once said, our currency and your problem.
Metals
As noted by Menger (1892), the adoption of gold and silver as forms of money throughout history can be partially attributed to the homogeneity of these materials. Crude oil futures dropped the most in more than a month, contracts for iron ore plunged and copper was also lower. Gold, for example, can be melted down and swapped without complication.
Oil
Meanwhile, international oil benchmark Brent crude was trading 0.42 per cent lower at ₹66.77 per barrel. Global oil benchmark Brent crude futures fell 0.39 per cent to USD 66.79 per barrel. However, in developed markets at least, the contribution of core goods excluding oil and agricultural products to inflation isn t very significant.
United States
Tech-heavy Nasdaq too jumped 0.72 per cent overnight.Among the Asia-Pacific markets, Taiwan, which was reeling under selling pressure, surged the most by gaining 2.6 per cent. The US 10-year yield rose above 1.69 per cent. This is a testament to the company’s ability to execute on milestones and secure strong backing from Wall Street firms.
China
Though he deleted the post, the reaction shows the fear created by Beijing s crackdown on frank-talking Jack Ma and his empire.
Europe
Myanmar Military s Nearly Sanction-Proof Business EmpireMyanmar s military leaders, who seized power in a brutal coup earlier this year, can probably shrug off renewed U.S. and EU sanctions.
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