When stock markets tumble, bonds gain momentum and vice versa. But, this time it's a different picture. Contrary to market expectations, bonds market couldn't pick up when equities across the global market dropped in August.
US dollar
Copper price slipped below $2.40/lb (1lb=453.59265gm), a key support level, and was trading at $2.3260. With the $2.4 level becoming the key resistance level, the copper price needs to break this level to gain upward movement.
The marginal rise in Chinese currency Yuan on Monday is believed to be the extended support by the central bank of the world's second largest economy.
Another wild day of trading gripped Wall Street Tuesday. Many were hoping stocks would recoup losses from Monday's massive selloff, as all three major equity indexes surged during early sessions. But, as trading drew to a close, their gains vanished.
The world's second largest economy China has to wait for one more year to make its currency 'Yuan' a part of International Monetary Fund's (IMF) currency basket. Dashing the dragon country's hopes, IMF's board favored a decision to keep renminbi as it is until 30 September 2016 year.
H&M, considered the world's second largest retailer of fashion items, reports a sales rise of 16% for the month of July. According to the report, it is already their tenth consecutive month of enjoying sales rise of at least 10 percent. H&M in its press release said that it will release its updated third quarter report on September 15 of this year.
China's main Shanghai stock index finish higher Wednesday, but other stock markets were mostly lower as investors are anxious about the volatile Chinese market.
The value of Venezuela's currency, the Bolivar, has nose-dived too fast and has now reached a point where it's worth less than a penny on the US dollar.
The continuous fall of peso currency is giving jitters to the Mexican economy. The second largest economy in Latin America is making all the possible efforts to prevent the arrest of its falling peso. It increased dollar auction level by almost four times to support the weakening peso.
The 40-year record high of US dollar against some major currencies is ringing alarm bells for another currency crisis. The ongoing situation could also trigger for another round of crash in the emerging markets. The world is more integrated now than in those days of 1980s and 1990s that witnessed major currency crisis.
The dollar marched higher against the euro and yen on Monday as investors wagered that interest rates were set on a diverging course in the United States, Europe and Japan, giving a lift to Tokyo stocks in the process.
As the US economy shows signs of improvement and the dollar continues to show signs of growing strength, emerging markets could experience a crises, the Financial Times reported.
Although many believe that the US has started to lose its power and influence because of stagnating economy, a Financial Times report believes that compelling evidence abounds that refute this claim.
John Hancock Funds and Merk Investments LLC, the top US foreign-exchange mutual funds who earned profits last year, had opposing views about the US dollar's performance this year, a Bloomberg report said.
The Japanese Yen had increased versus all its major peers as no progress was seen between US President Barack Obama and the House Republicans to end the US shutdown.
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