Despite Western sanctions, Russia must be integrated in the global economy with countries that are prepared to work with it, central bank Governor Elvira Nabiullina said at Russia’s flagship annual economic forum in St Petersburg on Thursday.
The dollar has steadied Thursday, but has been trading largely on the back foot this week, weighed in part by the benchmark U.S. 10-year Treasury yield sliding to a two-month low as easing labor market conditions in the United States added to the case for Fed rate cuts this year.
Oil prices were stable on Thursday, as support from growing expectations of an interest rate cut from the U.S. Federal Reserve in September offset higher U.S. inventories and OPEC+ plans to gradually increase supply.
Bitcoin price fell slightly on Thursday, steadying after breaking out of an over two month trading trough as weak U.S. economic data fueled expectations that the Federal Reserve will cut interest rates.
The best performers of the session on the Nifty 50 were Tech Mahindra Ltd (NS:TEML), which rose 4.43% or 56.10 points to trade at 1,323.00 at the close. Meanwhile, HCL Technologies Ltd (NS:HCLT) added 4.00% or 53.80 points to end at 1,397.50 and SBI Life Insurance Company Ltd (NS:SBIL) was up 3.79% or 52.75 points to 1,442.85 in late trade.
Thailand’s cabinet on Tuesday approved tax measures to boost domestic tourism during the low season, Deputy Finance Minister Paopoom Rojanasakul said.
The dollar has stabilized Tuesday following sharp losses at the start of the week after data showed a second straight month of slowdown in manufacturing activity and an unexpected decline in construction spending.
Oil prices fell more than $1 on Tuesday, extending losses from a four-month low in the previous session, as investors worried about supply rising later in the year amid signs of weakening U.S. demand.
Bitcoin price steadied on Tuesday, hovering just below key levels as weakness in the dollar, amid speculation over potential interest rate cuts by the Federal Reserve, sparked some flows into crypto markets.
Indian stocks tanked the most in over four years on Tuesday, as vote counting suggested Prime Minister Narendra Modi’s Bharatiya Janata Party (BJP)-led alliance is unlikely to win an overwhelming majority as predicted by exit polls.
