Yen rises as traders look to BOJ, while dollar holds steady
The yen rose on Tuesday as investors reacted to comments from a senior Japanese politician that added to the pressure on the Bank of Japan to keep hiking rates to boost the currency.
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Oil steadies, weighed down by predicted surplus amid weak demand
Oil prices steadied on Tuesday after falling for the past two sessions, as investors remained cautious amid expectations of plentiful supplies and weak demand, while brushing off the U.S. presidential campaign upheaval.
Bitcoin price today: down to $66k; Ether little cheered by spot ETF
The launch comes nearly six months after spot Bitcoin ETFs were approved for U.S. markets. While the launch had provided an initial boost to Bitcoin, driving it to record highs in March, the token has since floundered around the $60,000s for most part, while trading volumes in the ETFs also eased.
India hikes taxes on equity and derivatives trading
The government also increased the tax on transactions in equity derivatives segment. On futures trading, the securities transaction tax has been increased to 0.02% from 0.0125% and on options, it has been raised to 0.1% from 0.0625%.
Sri Lanka central bank seen holding rates to foster stability: Reuters poll
Sri Lanka’s central bank is expected to hold interest rates for a second straight meeting on Wednesday as it attempts to maintain monetary stability in the shadow of a dragging financial crisis and counter simmering political tensions.
Dollar eases as Biden ends re-election bid, drops vs yen
The dollar eased slightly against a basket of currencies on Monday while dropping sharply versus the yen as investors focused on U.S. President Joe Biden’s decision to end his re-election campaign and the next moves from the Federal Reserve and the Bank of Japan.
Oil prices rise as investors look forward to U.S. rate cuts
The U.S. Federal Reserve is due to review policy next on July 30-31, when investors expect it to keep rates unchanged. But they will look for further evidence that a cut will happen at the September meeting.
Bitcoin price today: steady at $67k as weekend rally cools; US politics in focus
Bitcoin and broader crypto markets were now grappling with increased uncertainty over the 2024 elections, after Biden endorsed Vice President Kamala Harris as the Democratic presidential nominee. While Harris will still need to be officially nominated during the Democratic National Convention in August, a slew of top Democrats endorsed her nomination.
European banks’ earnings in spotlight after big share price gains
The European Central Bank is expected to cut interest rates for a second time in September, but so far banks’ earnings have proved surprisingly robust and their shares have continued higher.
European stocks slip, global IT outage causes chaos
It has been a turbulent week in markets, with a tech sell-off sparked by deepening Sino-U.S. trade tensions, uncertainty over U.S. President Joe Biden’s fate in the presidential race, disappointing Chinese economic data and a lacklustre third plenum outcome casting a shadow over the global mood.