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Gold Down Despite Continued COVID-19 Fears

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By Administrator_India Capital Sands Gold prices in Asia were down in Asia on Thursday morning despite the continuing economic uncertainty caused by the COVID-19 virus. The yellow metal could not hold onto its steady gains from the previous session as gold futures dropped by 0.11% at $1,82.45. For the third day in a row, prices for the yellow metal were in sync with stocks. The two prices usually move in the opposite direction. Asian stocks were mixed as investors await the release of U.S. jobless data later in the day.  Gold prices gained earlier in the day in anticipation of…

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China’s Wuhan lockdown ends, but local coronavirus cases rise across the country

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By Administrator_India Capital Sands The Chinese city where the coronavirus epidemic first broke out, Wuhan, ended a two-month lockdown on Wednesday, allowing people to leave the city, if they were healthy, amid concerns of a second wave of infections as cases in mainland China rose. China sealed off the city of 11 million people in late January to stop the spread of the flu-like virus to other parts of the country. Over 50,000 people in Wuhan caught the virus, and more than 2,500 of them died, according to official figures.…

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PM Modi plans staggered exit from vast coronavirus lockdown

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By Administrator_India Capital Sands India will pull out of a three-week lockdown in phases, Prime Minister Narendra Modi said on Thursday, as officials battle to contain the country’s biggest cluster of coronavirus infections in the capital, New Delhi. The shutdown, which has brought Asia’s third-largest economy to a shuddering halt, had been due to end on April 14. Modi ordered India’s 1.3 billion people indoors to avert a massive outbreak of coronavirus infections, but the world’s biggest shutdown has left millions without jobs and forced migrant workers to flee to…

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Dollar supported as investors seek safety in liquidity

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By Administrator_India Capital Sands The dollar held gains on Thursday as investors rushed to the security of the world’s most liquid currency as the coronavirus pandemic caused massive disruptions to global trade. The dollar index against a basket of major six currencies gained 0.53% overnight as the U.S. currency advanced against most of its major peers except for the safe-haven yen. In early Thursday trade, the euro was little changed at $1.0959 after 0.69% fall on Wednesday. Sterling fetched $1.2382, having lost 0.40% on Wednesday. The Australian dollar changed hands at…

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Asian Stocks Rise on The Back of Better-Than-Expected Chinese PMI Figures

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By Administrator_India Capital Sands Asian stock markets made modest gains as China announced a higher-than-expected Purchasing Manager’s Index data. China’s Shanghai Composite gained 0.41%, while Shenzhen Component was up 1.26% after data showed the country’s March manufacturing PMI came in at 52.0, compared with the record low of 35.7 last month. Analysts had expected a PMI of 45, according to the data compiled. The country also reported a non-manufacturing PMI of 52.3, almost double last month’s 29.6. Hong Kong’s Hang Seng Index was up by 2.24%. Meanwhile, Japan’s Nikkei 225 rose 0.69%, while neighboring South Korea’s KOSPI gained 1.8%. Down Under,…

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Oil plunges to 2002 lows, shares sink again Best ECN broker in India Commodity Broker Forex Analysis Forex Trading with Capital Sands Stock Broker 

Oil plunges to 2002 lows, shares sink again

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By Administrator_India Capital Sands Oil took another eyewatering 8% tumble on Monday and world shares buckled again as fears mounted that the global coronavirus shutdown could last for months. There were some bright spots, with Australian equities posting a standout jump as the government launched a super-sized support programme, but that was about it. Japan’s Nikkei had led the rest of Asia lower and Europe’s main markets slumped by 1.5-2.5% in early trade, adding to what has already been the region’s worst quarter since 1987. The rout in oil took crude…

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Crude oil futures drop as pandemic darkens demand outlook

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By Administrator_India Capital Sands Crude oil benchmarks fell sharply on Monday, with Brent hitting its lowest since November 2002, as the global coronavirus pandemic worsened and the Saudi Arabia-Russia price war showed no signs of abating. Brent futures were down 6.7%, or $1.68, to $23.25 a barrel, after earlier dropping to $23.03, the lowest since November 2002. U.S. West Texas Intermediate (WTI) crude futures fell as far as $19.92, near an 18-year low hit earlier this month, and was last trading down 5.4%, or $1.17, at $20.34 a barrel. The…

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Europe Slips After Recent Gains as Virus Cases Mount Best ECN broker in India Commodity Broker Forex Analysis Forex Trading with Capital Sands Stock Broker 

Europe Slips After Recent Gains as Virus Cases Mount

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By Administrator_India Capital Sands European stock markets traded lower Friday, with investors taking stock after recent hefty gains and as the coronavirus pandemic continues to reap damage throughout the region. At 04:10 ET (0510 GMT), the U.K.’s FTSE index was trading 3.9% lower, France’s CAC 40 was down 3.0%, while the DAX fell 1.9%. The broader based Stoxx 600 Europe index dropped 2.5%. The benchmark Stoxx 600 index has recovered almost 17% since hitting a low on March 16, but still remains more than 26% below its all-time high last month. The number of Covid-19 infections have continued…

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End-of-week Gains for Asian Stocks

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By Administrator_India Capital Sands Asian stock markets were up on the last trading day of the week despite drops in Chinese industrial profits and a huge rise in U.S. jobless claims. China’s National Bureau of Statistics reported that industrial profits for January and February dropped 38.3% year on year, compared to a 6.3% drop in December 2019. The steepest drop in a decade was due to lockdowns to curb the spread of COVID-19. Despite the news, China’s Shanghai Composite was up 0.8%, while the Shenzhen Component was up 0.97%. Hong Kong’s Hang Seng…

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Euro Benefits From Talk of 'Corona' Bonds Best ECN broker in India Best MT5 Broker Commodity Broker Forex Trading with Capital Sands Stock Broker 

Euro Benefits From Talk of ‘Corona’ Bonds

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By Administrator_India Capital Sands The euro has posted gains Thursday amid talk of a new debt instrument to combat the coronavirus outbreak as the death toll rises and the economic damage becomes more stark. At 4:10 ET (0810 GMT), EUR/USD traded at 1.0938, up 0.5%. Elsewhere, the U.S. Dollar Index, which tracks the greenback against a basket of six other currencies, stood at 100.580, down 0.4%.  USD/JPY fell 0.7% to 110.44, while GBP/USD traded at 1.1950, up 0.5%. Europe has become the fiercest battleground in the war against the Covid-19 outbreak, with well over 180,000 cases confirmed.…

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