By Ritu, Capital Sands The ruble fell on Wednesday after President Vladimir Putin announced the resignation of the Russian government. The announcement comes against the background of speculation that Putin is planning to tweak the constitution to avoid having to leave power when his current term as president ends
By Ritu, Capital Sands Michael Debabrata Patra, 59, has been appointed the Reserve Bank of India (RBI) deputy governor for three years. The post fell vacant after Viral Acharya resigned on July 23 last year. Patra, as executive director of the central bank, was the principal advisor to the Monetary
By Ritu, Capital Sands Asian stocks rose in morning trade on Tuesday after the U.S. dropped China’s currency manipulator label, saying that it has made “enforceable commitments” not to devalue the yuan. China’s Shanghai Composite inched up 0.1%, while the Shenzhen Component gained 0.3%. “China has made enforceable commitments to refrain from competitive devaluation,
By Ritu, Capital Sands USD/JPY trades positive near the two-week high, on a five-day winning streak. Bullish engulfing on the weekly chart confronts 109.48/52 resistance confluence. 200-week SMA adds to the resistance. USD/JPY takes the bids to 109.55 during the initial trading session on Friday. In doing so, the pair
By Ritu, Capital Sands China’s Vice Premier Liu He, head of the country’s negotiation team in Sino-U.S. trade talks, will sign a “Phase 1” deal in Washington next week, the commerce ministry said on Thursday. Liu will visit Washington on Jan. 13-15, said Gao Feng, spokesman at the commerce ministry.
By Ritu, Capital Sands The Japanese yen and Swiss franc retreated on Thursday as the United States and Iran backed away from the brink of further conflict in the Middle East. U.S. President Donald Trump responded overnight to an Iranian attack on U.S. forces with sanctions, not violence. Iran offered
By Ritu, Capital Sands Oil prices jumped on Wednesday in Asia after Iran attacked two U.S.-Iraqi airbases in response to a U.S. airstrike that killed a top Iranian general last week, sparking worries of intensifying conflict in the Middle East. Overnight, the Pentagon said missile strikes were launched from Iran
By Ritu, Capital Sands The Swiss franc held gains against the dollar on Tuesday as traders sought save-havens amid heightened anxiety about potential Iranian retaliation to a U.S. drone strike that killed its most prominent military commander. The yen, another safe-haven currency, pulled back from a three-month high versus the