By Administrator_India, Capital Sands Australia’s central bank cut its benchmark interest rate and said it was ready to do so again as it became “increasingly clear” the coronavirus would cause major disruption to economic activity worldwide, according to minutes of its March 3 meeting. The board reduced the cash rate to 0.5% “to provide additional […]
By Ritu, Capital Sands When the U.S. Federal Reserve cut interest rates to near zero on Sunday, the dollar fell, since the move blew away the yield on owning dollars and with it much of their attraction. Yet few are willing to bet on a prolonged decline. Pandemic fears are roiling markets, driving a scramble […]
By Administrator_India, Capital Sands China’s industrial output contracted at the sharpest pace in 30 years in the first two months of the year as the fast spreading coronavirus and strict containment measures severely disrupted the world’s second-largest economy, data showed on Monday. Urban investment and retail sales also fell sharply and for the first time […]
By Ritu, Capital Sands The wait for a coordinated U.S. package of policy measures to offset the impact of the Covid-19 outbreak goes on, although House Speaker Nancy Pelosi told reporters that a deal was “near”. Europe enacted more emergency measures as the virus continued its spread, while accurate U.S. data remain elusive due to […]
By Administrator_India, Capital Sands It was a dismal end to the week for Asian markets, which took more hard hits after US markets tumbled in their worst session since the 1987 “Black Monday” crash. With details still scarce on a stimulus package proposed by U.S. President Donald Trump and despite the announcement of a US$1.5 […]
By Ritu, Capital Sands President Donald Trump’s announcement of a European travel ban sends markets into a fresh tailspin, while Italy shuts down all but essential business activity to contain the coronavirus. The European Central Bank is expected to expend more of its depleted pile of ammunition supporting the eurozone economy and banking system, and […]
By Administrator_India, Capital Sands The new U.S. ban on foreign citizens entering the country if they have traveled to Europe in recent weeks will heap more pressure on airlines already reeling from the coronavirus pandemic, hitting European carriers the hardest, analysts said. The 30-day restrictions from Friday, which exclude Britain, are similar to those that […]
By Administrator_India, Capital Sands Oil prices plunged around 25% on Monday, heading towards their biggest daily loss since 1991 after Saudi Arabia slashed prices and set plans for a big increase in crude production in April. Prices fell as much as 31% following the Saudi move to start a price war after Russia balked at […]
By Ritu, Capital Sands Investors pulled out of most asset classes, with stocks and bond funds seeing a combined $36 billion of outflows in the week to Wednesday, BofA said, amid fears of economic damage from the coronavirus epidemic. Stock markets have been selling off since mid-February, wiping out roughly $6.5 trillion of market values, […]
By Administrator_India Capital Sands Gold prices inched higher on Friday and were poised for their biggest weekly gain since October 2011, as mounting worries over the economic fallout from the fast-spreading coronavirus drove investors towards the safe-haven metal. Spot gold climbed 0.2% to $1,672.80 per ounce by 0118 GMT, having risen about 2% in the […]