Month: January 2020

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Yuan bulls return on trade deal hopes, growth worries cloud rupee's outlook: Reuters poll

January 9, 2020 admin Comments Off on Yuan bulls return on trade deal hopes, growth worries cloud rupee's outlook: Reuters poll

U.S. President Donald Trump said last week that the ‘phase one’ deal with China, which will reduce U.S. tariffs in exchange for a boost in Chinese purchases of certain American goods, would be signed on Jan. 15. Long positions on the Chinese yuan were at their highest since March last year, a poll of 16 respondents showed. “Given that the Chinese yuan is holding below the 7.0 level against the U.S. dollar, that is offering some measure of support for regional currencies,” Han Tan, a market analyst at FXTM said. …read more […]

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India Stocks Join Global Rally on Eased U.S.-Iran Tensions

January 9, 2020 admin Comments Off on India Stocks Join Global Rally on Eased U.S.-Iran Tensions

(Bloomberg) — Indian equities rose, tracking global markets, as the price of crude oil, the nation’s biggest import, steadied after the U.S. and Iran appeared to be stepping back from a military conflict.The S&P BSE Sensex Index advanced 1.1% to 41,247.01 as of 9:33 a.m. in Mumbai. Global stocks rallied after U.S. President Donald Trump on Wednesday said that he would impose new sanctions on Iran while offering the country a diplomatic opening. The NSE Nifty 50 Index also rose by 1.1%.India’s monthly factory output data, due Friday, along with earnings from Infosys Ltd. marking the start of quarterly reporting …read more […]

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AmEx Moves Step Closer to Entering China’s $27 Trillion Market

January 9, 2020 admin Comments Off on AmEx Moves Step Closer to Entering China’s $27 Trillion Market

(Bloomberg) — American Express Co. cleared a key hurdle in its bid to accessing China’s $27 trillion payments market after the central bank accepted its application to start a bank card clearing business.The People Bank of China made the announcement on its official Wechat account Wednesday, without giving more details. The decision to accept the application signals that it’s moving closer to final approval.AmEx in November 2018 became the first foreign company to win permission to start preparation for the business after forming a joint venture with LianLian, a Chinese fintech-services firm.The latest move shows progress in U.S. payment networks’ …read more […]