Monday Morning Briefing: Pound Slips After London Attack, Gold Holds Gains
The British pound slipped in Asia trading after a weekend terror attack in the heart of London killed seven people. This was the third such attack in U.K. this year.
Prime Minister Theresa May's address to the nation saw a different undertone to her previous speeches of tolerance. "Enough is enough," she said, days before the U.K. general election.
Also Read: May Spars With Corbyn On Terrorism As U.K. Election Nears Climax
Yen and gold retained their gains, weighing on Japan's stocks amid weaker than expected U.S. jobs data released on Friday. The precious metal traded 0.2 percent higher at $1,281.74 per ounce.
WTI crude gained 0.2 percent to $47.75 per barrel on Monday morning. This was after a two-day fall that pushed the price of oil below the $48 mark.
Mixed Signals
The U.S. Dollar index was little changed after dropping 0.7 percent last week, while Treasuries advanced after the latest jobs report offered mixed signals on the strength of the American labour market. U.S. stocks pushed to fresh records on Friday.
The U.S. labor market gave mixed signals in May, with a decline in the unemployment rate to a 16-year low contrasting with below-forecast hiring and wage growth, Labor Department figures showed Friday.
However, the latest jobs report likely won't deter the Federal Reserve from increasing interest rates in two weeks as the economy continues to grind higher even as Washington shows few signs of moving forward with tax and spending reforms.
The World Bank expects a modest rise in global growth despite uncertainty regarding the U.S. monetary policy and bond traders' concerns of dwindling inflation.
Former Federal Bureau of Investigation (FBI) Director james Comey is expected to testify before Congress after he was suddenly fired from the position by U.S. President Donald Trump.
The council's main purpose is to try to determine whether Trump was actively trying to obstruct a federal investigation into his relationship with Russia during his campaign.
Nifty Set For Positive Start?
The SGX Nifty Index, an early indicator of of Nifty 50 performance in India, traded 0.2 percent higher at 9,669.
The Goods and Service Tax (GST) Council declared the tax rates for the remaining goods such as gold, footwear, beedis (type of a local cigarette), apparel and so on, in a meeting on Saturday.
Also Read: GST Council Increases Tax Slabs To Six To Accommodate Gold & Diamonds
Reliance Communications Ltd. will remain in focus for the day after Anil Ambani said said that the debt-laden company has been given a breather of seven months to service its debt.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
