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Month: April 2020

Euro zone economy shrinks at record rate, inflation slows sharply Economic News 

Euro zone economy shrinks at record rate, inflation slows sharply

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By Ritu, Capital Sands The Euro zone economy contracted at a record rate and by more than expected in the first three months of the year and inflation slowed sharply as much economic activity in March came to a halt because of the COVID-19 pandemic, data showed on Thursday. According to a preliminary flash estimate of the European Union’s statistics office Eurostat economic output in the 19 countries sharing the euro in January-March was 3.8% smaller than in the previous three months — the sharpest quarterly decline since the time…

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Business FED 

Dollar nurses losses after Fed, jump in risk appetite

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By Administrator_India Capital Sands The dollar nursed losses on Thursday after the U.S. Federal Reserve left the door open to more monetary easing and dampened expectations for a quick economic recovery from the coronavirus pandemic. The greenback was also weighed down as signs the pandemic is receding in other countries and reduced safe-haven demand for holding funds in dollars. Additionally boosting appetite for riskier currencies was positive trial results of an experimental COVID-19 treatment. The euro held steady before a European Central Bank meeting later on Thursday where policymakers are…

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Japan's Abe says impossible to hold Olympics unless pandemic contained SPORTS 

Japan’s Abe says impossible to hold Olympics unless pandemic contained

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By Ritu, Capital Sands Prime Minister Shinzo Abe said on Wednesday that the Tokyo Olympics could not take place next year unless the coronavirus pandemic is contained, as the city’s governor requested an extension of Japan’s state of emergency. The International Olympic Committee and the Japanese government last month postponed the Games until July 2021 because of the coronavirus crisis. With the epidemic’s worldwide infection rate climbing and experts suggesting a vaccine is a long way off, doubts have been raised about the chances of holding the huge event next…

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Australian Inflation RBA 

Australia’s first-quarter inflation hits 5-1/2-year high, prices to plunge in second quarter

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By Administrator_India Capital Sands   Australian inflation accelerated to its highest in over five years last quarter, data showed on Wednesday, but the long-desired pick-up is likely to be fleeting in the face of a coronavirus lockdown and collapsing energy prices. The headline consumer price index (CPI) rose 0.3% in the first quarter, from the previous quarter, lifting annual inflation to 2.2% from 1.8%. That was the highest reading since the third quarter of 2014 and topped forecasts of 2.0%. It was also the first time inflation reached the Reserve…

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Europe Largely Flat; Oil and Earnings in Focus Stock 

Europe Largely Flat; Oil and Earnings in Focus

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By Administrator_India Capital Sands European stock markets traded largely unchanged Tuesday, with investors wary of getting too involved ahead of key central bank meetings, against a background of weak earnings from the financial and oil sectors. At 3:35 AM ET (0735 GMT), the U.K.’s FTSE index traded flat, France’s CAC 40 was down 0.1%, while the DAX up 0.1%. The broader based Stoxx 600 Europe index climbed 0.3%. Oil futures slumped Tuesday after the largest U.S. oil exchange-traded fund said it would sell all its front-month crude contracts to avoid further losses as prices collapse. This renewed decline…

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Asian Market Covid-19 

Aussie dollar near six-week peak as easing lockdowns spur risk

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By Administrator_India Capital Sands The Australian dollar tested six-week highs on Tuesday, as signs of progress in re-opening economies helped the risk-sensitive currency recoup most of the panic selling seen in March, and as the greenback nursed overnight losses. The Aussie has rallied more than 17% from last month’s 17-year low and overnight rose through resistance around $0.6445. It drifted down to $0.6438 and was just below multi-week peaks against the euro, pound, and yen. Other majors were steady. The move comes amid a global push to re-start economies frozen by…

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Europe Pushes Higher; Central Banks and Reopenings Eyed Stock 

Europe Pushes Higher; Central Banks and Reopenings Eyed

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By Administrator_India Capital Sands European stock markets posted strong gains Monday, with investors boosted by the news of more central bank largesse and of major economies taking steps towards reopening as the Covid-19 pandemic eases. Standard & Poor’s decision not to downgrade Italy after the close on Friday is also helping. At 4 AM ET (0800 GMT), the U.K.’s FTSE index traded 1.7% higher, France’s CAC 40 was up 2.1%, while the DAX rose 2.4%. The broader based Stoxx 600 Europe index climbed 1.8%. Earlier Monday the Bank of Japan kicked off a week of central bank action…

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Europe Weakens; Weighed by Losses in Oil Sector Commodity Covid-19 

Oil falls as crude in U.S. storage nears all-time high

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By Administrator_India Capital Sands   Oil prices fell on Monday on signs that worldwide oil storage is filling rapidly, raising concerns that production cuts will not be fast enough to catch up with the collapse in demand from the coronavirus pandemic. U.S. oil futures led losses after U.S. crude inventories rose to 518.6 million barrels in the week to April 17, near an all-time record of 535 million barrels set in 2017, while floating crude oil storage has hit an all-time high of 160 million barrels. U.S. West Texas Intermediate…

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Sensex Nifty Sensex 

India stocks lower at close of trade; Nifty 50 down 1.71%

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By Administrator_India Capital Sands India stocks were lower after the close on Friday, as losses in the Real Estate, Banking and Metals sectors led shares lower. At the close in NSE, the Nifty 50 fell 1.71%, while the BSE Sensex 30 index declined 1.68%. The best performers of the session on the Nifty 50 were Reliance Industries Ltd. , which rose 4.00% or 54.90 points to trade at 1425.80 at the close. Meanwhile, Britannia Industries Ltd.  added 3.51% or 103.60 points to end at 3051.00 and Sun Pharmaceutical Industries Ltd.  was up 1.69% or 8.05 points to 485.50 in late…

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Economic News Oil 

Dollar heads toward weekly gain as oil shock reveberates

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By Administrator_India Capital Sands The dollar was headed for its best week since early April on Friday, as tumbling oil prices weighed on commodity currencies and division over Europe’s emergency fund dragged on the euro. The dollar stands near a two-and-a-half-week high against a basket of currencies and is 0.8% stronger for the week. It is up nearly 3% against the oil-sensitive Norwegian krone and about 1% on the euro. Morning moves were modest and led by a drift lower in the Australian and New Zealand dollars as traders were…

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