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.
Tags: US dollar
Lack of clarity over US data put pressure on Asian stocks
The lack of clarity about the US data and timing of interest rate hike have put further pressure on Asian stock markets. Several Asian stocks slipped into pressure on Friday trading ahead of the US data jobs report. Japan's Nikkei fell 1.7 percent for the week. The long holiday stretch for Chinese markets also resulted in sluggishness in the Asian market.
Indian rupee slips in 3 sessions
Indian currency Rupee seems to be heading for its biggest drop since 2013 as INR continued to drop for the third consecutive session following the selling pressure in riskier assets owing to renewed growth concerns on Asia.
Canadian bank sectors expected to boost payouts in 2016
Dividend stocks are investors favourite during the economic uncertainty. Dividends signal a strong performance by the company and it also allows investors to make some return on investment during the tough time.
Dollar-starved Venezuelan telecoms turn weaker
Venezuelan telecom sector is reeling under pressure as it lacks additional funds availability, the physical currency of dollars. The cash-strapped telecom companies are unable to strengthen their networks. The soaring inflation doesn't allow them to raise a tariff.
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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.
