Month: November 2019

By Ritu, Capital Sands.   The dollar held an upper hand against the yen on Tuesday as optimism on a trade deal between the United States and China dented the allure of the safe-haven unit while the British pound was supported by hopes of an end to a hung parliament. China’s Global Times, a tabloid run by the ruling Communist Party’s official People’s Daily, said on Monday on its Twitter feed the two countries are very close to a “phase one” trade deal, discounting “negative” media reports. report raised optimism…

By Ritu, Capital Sands   Asian shares made guarded gains on Monday as investors dared to hope for some progress in the endless Sino-U.S. trade dispute, while the outperformance of recent U.S. economic data gave the dollar a leg up on its peers. MSCI’s broadest index of Asia-Pacific shares outside Japan bounced 0.8%, after losing 0.4% last week. Japan’s Nikkei .N225 firmed 0.9%, while Australian stocks .AXJO rose 0.5% and Shanghai blue chips .CSI300 0.4%. E-Mini futures for the S&P 500 ESc1 added 0.3%, while EUROSTOXX 50 futures STXEc1 gained 0.6%. On Saturday, U.S. national security adviser Robert O’Brien said…

By Ritu, Capital Sands   The dollar was marginally down on Friday and risk appetite boosted by statements from China on the need to find a solution to the tit-for-tat tariff war with the United States, raising hopes that a “phase one” deal could be reached. Chinese President Xi Jinping said Beijing wants to work out a deal with Washington and has been trying to avoid a trade war – but is not afraid to retaliate when necessary. senior Chinese diplomat urged the United States to compromise in order to…

By Ritu, Capital Sands   Oil prices were toppled from their highest in nearly two months on Friday by doubts over future demand for crude as uncertainty continues to shroud a potential U.S.-China trade deal, and along with it the health of the global economy. That was more than enough to offset news of a likely extension of production cuts among major producers that drove prices higher in the previous session on the prospect of tight crude supply. By 0159 GMT, Brent crude futures LCOc1 had slid 30 cents, or 0.5%, to…

By Ritu, Capital Sands   While the U.S-China trade war rages on, the tensions are exposing growing rifts between China and Silicon Valley. Leading venture capitalists and startup founders expressed concern over their governments’ fierce differences and the potential fallout. Among the dangers are a decline in cross-border investment, disruption in the supply chain and decreased collaboration in fields like artificial intelligence, wireless technology and cancer research. Signs of trouble are emerging in everything from venture capital to movie-making. Fundraising for dollar-based venture capital funds in China is down 75%,…

By Ritu, Capital Sands   Gold prices inched up on Thursday, supported by concerns that U.S. bills on Hong Kong could increase tensions between the United States and China and delay an interim trade deal. Spot gold XAU= rose 0.1% to $1,471.93 per ounce by 0235 GMT. U.S. gold futures GCcv1 were down 0.1% at $1,472.20 per ounce. “The main driver in gold currently is the uncertainty about the trade deal. There is the possibility that the deal might not be completed this year, so that is a key support factor. Completion of a…