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Back in November last year Chinese authorities halted Ma’s Ant Group US$34.5B IPO. Jack Ma, who controls Alibaba, had criticized domestic (and global) regulators for stifling financial services innovation, criticism the CCP did not appreciate.   Ma is back in hot water again, this time Chinese regulators have hit Alibaba with an 18.23 billion yuan ($2.8 billion)

Swiss Franc and Euro ended as the strongest ones last week, as investors reversed their short positions accumulated in Q1. In particular, such reversals pushed Sterling to be the worst performing one, suffering heavy pressure against both Euro and Franc. The outlook for European looked a bit less pessimistic on a couple of factors. But

April 9: Gold prices fell more than 1% on Friday, weighed down by a jump in U.S. Treasury yields and a rebound in the dollar, but bullion was still on course for its first weekly gain in three weeks. Spot gold was 0.7% lower at $1,744.07 per ounce by 1:44 p.m. EDT (1744 GMT), having

Banks traditionally get the ball rolling Believe it or not, the earnings season is starting up next week. It seems like only yesterday. The fact is, the bulk of earnings are spread out over a month or so and then you have other key releases that are outside of that window.  Nevertheless, it does not

Canadian Dollar jumps broadly in early US session, with help from much better than expected job data. Dollar is following as second strongest for today, paring some of this week’s losses. On the other hand, Yen and Euro, turn weaker, other with Aussie. Overall, it appears that traders are generally taking profits from prior moves

LONDON: Oil prices edged lower on Friday on rising supplies from major producers and concerns over a mixed picture on the COVID-19 pandemic’s impact on fuel demand. Brent crude futures for June fell 37 cents, or 0.59%, to $62.83 a barrel by 1338 GMT while U.S. West Texas Intermediate (WTI) crude for May was at

German government spokesperson confirms on the matter Adding that German chancellor, Angela Merkel, won’t be having any talks with state leaders next week. That is an interesting development considering that lockdown measures are set to expire on 18 April. It seems like Merkel is going to take things in her own hands and the federal

Markets are generally quiet in Asian session today. Sterling is set to end as the worst performing one for the week. And it’s still facing much downside pressure against Euro, Swiss Franc and Yen. Dollar is following as the second weakest, but the final position is unsure, as Aussie and Loonie are also relatively soft.

NEW DELHI: Gold futures were trading with cuts on Friday but the damage was capped as a weakness in the dollar and Treasury yields offered support along with a surprise jump in US jobless claims. The US dollar fell to a two-week low against a basket of currencies after the number of Americans filing new

HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do

The ECB minutes for the March meeting has supported EURUSD. The minutes revealed that policymakers saw upside risks to the economic outlook, thanks to US’ huge fiscal stimulus. Meanwhile, despite higher inflation in the near-term, it should remain subdued and below the central bank’s target. Policymakers also pledged to accelerate PEPP purchases in 2Q21 so

NEW YORK: Oil prices were little changed as a falling and rising stock market offset earlier declines caused by a big increase in US gasoline stockpiles and subdued demand compared with pre-pandemic levels. Brent futures rose 20 cents, or 0.3%, to $63.36 a barrel by 11:43 a.m. EDT (1543 GMT), while US West Texas Intermediate

Latest data released by Eurostat – 8 April 2021 Prior +1.4%; revised to +1.7% PPI +1.5% vs +1.3% y/y expected Prior 0.0%; revised to +0.4% The positive readings here reaffirm a continued rebound in producer prices and the pace is seen picking up to start the new year, reflecting stronger price pressures in general across

The FOMC minutes for the March meeting revealed that members turned more optimistic over the economic outlook. They were more hopeful of continuous improvement in light of the “significant declines in the number of new [coronavirus] cases, hospitalizations, and deaths over the intermeeting period as well as a pickup in the pace of vaccinations”. The

NEW DELHI: Gold futures were trading with cuts on Thursday as investors turned to riskier assets after the US Federal Reserve’s latest meeting minutes indicated continued policy support and cemented hopes of a quick economic turnaround. Officials at the Federal Reserve are concerned about the ongoing risks of the Covid-19 pandemic and are committed to

HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do

The rallies of Euro and Swiss Franc continue today, with much help by buying in crosses, in particular against Sterling and Aussie. The latter two are currently the worst performing ones, with Sterling as the weakest for the week too. Dollar is actually performing not too badly, down just against Euro and Franc. Main focus

NEW DELHI: The government has procured 3.49 lakh tonnes of wheat worth at Rs 691 crore at the minimum support price so far in the marketing season 2021-22. The wheat procurement for the rabi marketing season kicked off from April. According to an official statement, the procurement of the crop began in Haryana, Uttar Pradesh,