Gold drifts higher as US rate cut optimism boosts appeal on July 17, 2024Gold prices nudged higher on Tuesday as comments from Federal Reserve Chair Jerome Powell bolstered the case for a September rate cut, while investors awaited more U.S. economic data for further monetary policy cues. Spot gold rose 0.2% to $2,425.69 per ounce by 0424 GMT. On Monday, prices hit their highest level since May 20, […]
Dollar wobbles as comments of Fed’s Powell put focus on Sept rate cut on July 17, 2024The dollar crept off five-week lows on Tuesday, as investors weighed the case for a September rate cut after comments by Fed Chair Jerome Powell and rising odds for the re-election of former President Donald Trump. The Japanese yen was weaker in Asian hours after Monday’s one-month high of 157.165 to the dollar, keeping traders […]
Soybeans rise from four-year low on bargain-buying, wheat firms on July 17, 2024Chicago soybeans inched higher on Tuesday, with bargain-buying supporting the market, which dropped to its lowest in almost four years in the previous session on expectations of ample global supplies. Wheat edged higher after deep losses, although the market is likely to face headwinds from improved crop prospects in Russia. “Northern hemisphere harvest is still […]
Copper eases on rising inventory, weak China data on July 17, 2024Copper prices fell on Tuesday, weighed down by weak economic data from top consumer China and rising inventories in most global warehouses. Three-month copper on the London Metal Exchange (LME) fell 0.2% to $9,791 per metric ton by 0323 GMT, while the most-traded August copper contract on the Shanghai Futures Exchange (SHFE) declined 0.4% to […]
Nadal warms up for Olympics with doubles win in Bastad on July 17, 2024Rafa Nadal warmed up for his bid for another Olympic medal at the Paris Games with a doubles win at the Swedish Open in Bastad on Monday as the Spaniard returned to competition for the first time since May. The 22-times Grand Slam champion teamed up with Norwegian Casper Ruud to record a 6-1 6-4 […]
More than 60 children detained, beaten, tortured in El Salvador, HRW says on July 17, 2024More than 60 children in El Salvador have been arbitrarily detained, tortured and beaten since the government declared a state of emergency over two years ago to combat gangs, a report by the Human Rights Watch said on Tuesday. Police and soldiers have detained 3,319 children and teenagers from March 2022 to April this year […]
Airbus upgrades 20-year demand forecast led by wide-body jets on July 16, 2024Airbus on Monday revised up its 20-year demand forecast for jetliners as many airlines modernise long-haul fleets and Asia’s surging economies lock into air travel. The world’s largest planemaker predicted in an annual report on jet industry trends that the global fleet would more than double over the next two decades to 48,230 planes. Airbus […]
In the Market: How regulators are using banks to illuminate shadow banks on July 16, 2024The Federal Reserve has proposed new rules that would allow it to gather granular details about banks’ exposure to shadow banks, a move that shows how regulators are trying to understand the risks there and the limits of that approach. Shadow banks, a catch-all term for non-bank financial institutions like private funds and mortgage servicers, […]
Gold slips as investors seek more cues on Fed’s rate path on July 16, 2024Gold prices dipped on Monday as the dollar held firm, while investors awaited economic data and comments from Federal Reserve officials for further cues on the trajectory of U.S. interest rates. Spot gold was down 0.4% at $2,402.82 per ounce, as of 0653 GMT. U.S. gold futures were down 0.5% at $2,408.50. The dollar rose […]
Brazil readies new investment vehicle for sustainable projects on July 16, 2024Brazil’s Treasury and its Securities and Exchange Commission (CVM) are gearing up to launch a new investment vehicle operating as an investment fund consortium to boost early-stage sustainable ventures, a senior Treasury official said. In an interview with Reuters, Rogerio Ceron said the new vehicle is aimed at financing the structuring of projects aligned with […]