Gold Prices Steadied Above A Major Support Level On Monday As Growing Risks Of An Economic Recession Spurred Some Safe Haven Demand For The Yellow Metal. Prices also recovered marginally from a bruising September, where they dropped 3%. Bullion prices marked their worst quarter since March 2021 with a 7.5% drop Spot gold rose 0.2% to $1,663.99 an ounce, while gold futures were flat around $1,672 an ounce by 20:31 ET (00:31 GMT). Prices of…
Asian stock markets sank on Wednesday, tracking overnight losses on Wall Street as investors awaited an interest rate hike and more hawkish signals from the Federal Reserve. Hong Kong’s technology-heavy Hang Seng index continued to lag its peers, falling 1.5%, while Japan’s Nikkei 225 index lost 1.3%. The day’s losses also negated a soft rebound seen earlier this week. Market focus was squarely on the Federal Reserve, which is expected to hike interest rates by at least 75…
"Asian Stocks Slammed by Fed Rate Hike Risks" Data last week showed higher-than-expected consumer prices in August, dashing hopes that the worst of rising price pressures may be in the past. Benchmark 10-year U.S. Treasury yields jumped to their highest level since 2011 on Monday as investors adjusted for the likelihood that the Federal Reserve will hike rates higher and for longer than previously expected as inflation remains near multi-decade highs. Data last week showed higher-than-expected consumer prices in August, dashing hopes that the worst…
"10-year yields highest since 2011 before expected Fed rate hike" US. stock futures were trading slightly higher during Sunday’s evening deals, after major benchmark indices posted their greatest weekly losses in 3 months, with investors remaining cautious amid persistent inflation fears ahead of Federal Reserve’s two-day meeting and rate decision later this week. By 19:10 ET (23:10 GMT) Dow Jones Futures and S&P 500 Futures were up 0.2% apiece, while Nasdaq 100 Futures were flat at 11,862.7. financial news Ahead in the week, market participants…
"Dow Futures Tick Higher After Indices Post Their Worst Week Since June" The crypto community is celebrating the coming of Ethereum 2.0, however, there are also concerns for miners. Since Ethereum has switched to a proof-of-stake model, mining Ether will no longer be necessary. Due to this, mining machinery will become obsolete, leaving miners with fewer options. KEY TAKEAWAYS Ethereum merge is the transition from proof-of-work consensus mechanisms to a proof-of-stake model. Transitioning to proof-of-work would affect the Ethereum mining industry, which is worth $19 billion. There…
"Will Mining Die With Ethereum 2.0?" The apparent contradiction between the real economy and financial markets has puzzled some commentators but is normal around a peak in the business cycle. U.S. economic data remains strong but a range of financial indicators point to a sharp slowdown over the next year that would dampen oil consumption and lead to lower prices. financial The apparent contradiction between the real economy and financial markets has puzzled some commentators but is normal around a peak…
"Oil Prices And Financial Markets Brace For Recession" Following the change, Japan will not require visas for short-term travelers from the United States and certain other countries, and will scrap the daily entry cap of 50,000 people, the media outlet said. to waive visa requirements for certain tourists and remove a limit on daily arrivals in October as it aims to benefit from a rebound in global tourism, Nikkei reported on Thursday. stock market Following the change, Japan will not require visas for short-term travelers…
"Japan Set To Waive Some Visa Requirements In October To Boost Tourism"
MUMBAI (Reuters) -Foreign investors have stepped up purchases in a clutch of Indian government bonds that have no limits on foreign investments ahead of an anticipated inclusion of Indian debt in global bond indexes, analysts said. The central bank removed foreign investment caps for a number of securities under the ‘fully accessible route’ (FAR) in April 2020 to help meet a key requirement of index providers. “As far as the inclusion goes, the bonds under FAR will…
"Foreign land4discouse snap up Indian bonds set for inclusion in global indexes This company pays its employees to leave. Those on notice period get 10% hike" Most Asian stock markets rose slightly on Tuesday, with investors turning cautiously optimistic over upcoming data that is expected to show a sustained decline in U.S. inflation. Taiwan’s weighted index added 0.7%, the most among its regional peers, while China’s Shanghai Shenzhen CSI 300 and Hong Kong’s Hang Seng rose 0.5% and 0.3%, respectively, in catch-up trade. Gains in major automobile stocks also supported Chinese and Hong Kong markets, after recent data showed local automobile sales surged in…
"Asian Stocks Cautiously Optimistic Ahead of U.S. CPI Data" What makes California’s decision somewhat surprising is that even though its existing statutes indicate taxability for student loan forgiveness, state consensus previously ran in the opposite direction. Nevertheless, according to the Tax Foundation, it has confirmed that discharged student loan debt will be taxed under current California law. Additionally, existing state provisions exempting student loans that were canceled as part of income-based repayment programs won’t apply. Fortunately, the White House later issued a press relief…
"California to Tax Biden’s Student Loan Forgiveness" Most Asian currencies moved in a flat-to-low range on Thursday as the dollar came off 20-year highs, with focus turning to an upcoming European Central Bank meeting for more cues on global monetary policy tightening. for more cues on global monetary policy tightening. China’s yuan and the Hong Kong dollar traded sideways, while the South Korean won sank 0.6%. Japan’s yen was an outlier, falling 0.4% and hovering around 24-year lows despite the country’s second-quarter…
"Asia FX Sees Little Relief as Dollar Rally Pauses; ECB in Focus"
