IndiaCatalog.com
India News
Search Web Directory
News Home
Dollar hits three-year low vs euro; Wall Street hits new highs
Posted on 13th January 2018
The US dollar fell to a more than three-year low against the euro on Friday, extending recent losses on expectations European Central Bank policymakers are preparing to reduce stimulus, while US stocks continued to rally and marked record closing highs. Optimism about fourth-quarter earnings boosted stocks. Bank shares climbed following quarterly results from JPMorgan Chase & Co and Wells Fargo. A global stock index registered an eighth straight week of gains

The euro’s rise weighed on the dollar index, which measures the greenback against six rival currencies. The index was down 1 percent, after slipping to a four-month low of 90.954.

For the year, the dollar index was down 1.28 percent, its worst performance over a year’s first nine trading days since 2010, according to Reuters data. “The latest ECB comments were a bit on the hawkish side, so that’s giving more life to the euro,” said Minh Trang, senior currency trader at Silicon Valley Bank in Santa Clara, California.

Sterling rocketed to its highest level against the dollar since the Brexit vote to leave the European Union after a report that the Netherlands and Spain were open to a deal for Britain to remain as close as possible to the trading bloc. Sterling was last trading at $1.3731, up 0.03 percent.

The S&P 500 and Nasdaq both registered an eighth record closing high out of the first nine trading days of 2018, while the Dow boasted its sixth closing high of the year.

Data showing robust US retail sales drove investor optimism about economic growth, also boosting sentiment in the stock market.

“It seems like the economy is going OK, inflation is kind of nonexistent right now, wage growth is not an issue for most income statements, so what’s not to like here?” said Stephen Massocca, senior vice president at Wedbush Securities in San Francisco.

The Dow Jones Industrial Average rose 228.46 points, or 0.89 percent, to 25,803.19, the S&P 500 gained 18.68 points, or 0.67 percent, to 2,786.24, and the Nasdaq Composite added 49.29 points, or 0.68 percent, to 7,261.06.

The pan-European FTSEurofirst 300 index rose 0.23 percent, and MSCI’s gauge of stocks across the globe gained 0.66 percent.

A robust US inflation report boosted Treasury yields.

The two-year yield, sensitive to traders’ views on interest rates, rose to more than 2 percent for the first time since the financial crisis.

In commodities, oil prices rose for a sixth day after Russia’s oil minister said global crude supplies were “not balanced yet,” alleviating market concerns about a wind-down of the OPEC-led deal to reduce production.

U.S crude oil rose 50 cents to settle at $64.30 a barrel, while Brent rose 61 cents to settle at $69.87.


Other Latest News
Hindustan Petroleum Corp enters into a long-term agreement with HMEL
Posted on 22nd September 2018
Hindustan Petroleum Corporation (HPCL) on Friday entered into a long-term agreement with HMEL (HPCL-Mittal Energy) for operations and maintenance of its newly-commissioned bitumen terminal at Bathinda.

HMEL recently set up a bitumen blowing unit with a capacity of 550 million tonne per annum different grades of bitumen plant at Guru Gobind Singh Refinery, Bathinda. The agreement is for storing, handling and dispatching the product.


Amazon India to soon sell cow urine and dung based soaps, face packs made by RSS-backed centre
Posted on 22nd September 2018
Soaps, face packs, shampoos and medicinal products made from cow urine and dung may soon be just a click away as an RSS-backed centre says it is set to sell these on e-commerce major Amazon India.

Deen Dayal Dham, a centre run by the RSS in Farah town of Mathura in Uttar Pradesh, will first put up a dozen products related to health, beauty and apparel on the website for sale, a manger at the centre said.


Sensex witnesses flash crash
Posted on 22nd September 2018
Mumbai: The shares of housing finance companies (HFC) and other financial service firms were battered badly on Friday causing a flash crash on the domestic bourses as rumours about default by certain entities amidst rising delinquencies and cost of capital triggered panic selling in the market.

Infosys to offer cloud solutions to global enterprises on Google Clouds
Posted on 22nd September 2018
Software major Infosys would offer scalable services and solutions on demand to global enterprises on search engine's Google cloud platform, the IT major said on Saturday.

"We are partnering with Google to develop cloud transformation and migration services for enabling enterprises transform their businesses on scalable and on-demand model," said the city-based company in a statement.


RIL closes KG-D6 oilfield
Posted on 22nd September 2018
Reliance Industries has permanently shut down its only oilfield (MA field) in the KG-D6 block on the back of dwindling output from the reserve. This was the company’s first foray into oil and gas exploration that began in September 2008 when the field started producing oil.

“The MA (D26) field in Block KG-DWN-98/3 (KGD6), which is being operated by RIL as an operator of the joint venture consisting of RIL (60 per cent), BP (30 per cent) and Niko (10 per cent)


» Post a FREE Classified Advertisement
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.
Jobs in India India Real Estate Automobiles Matrimonials Beauty & Fitness

Add a comment for Dollar hits three-year low vs euro; Wall Street hits new highs
Please only use this form to enter comments on the above company. All comments are reviewed before they are displayed on the web site. Not all comments may be displayed. Check back with us to see if your comments have been displayed.
If you want us to email the comments posted by users, please Subscribe by email
Name*
Comments*
Security Code*
 

Be the first person to write a business review for Dollar hits three-year low vs euro; Wall Street hits new highs

Most Read News

Sebi approves KYC norms for FPIs, new settlement mechanism

Infosys loses arbitration case against Rajiv Bansal over severance package

Maruti Suzuki stock slides 2.3% to hit 10-month low

Imran Khan writes to PM Modi, seeks Swaraj-Qureshi meet in New York

SBI in international bond market to raise nearly $500 mn in green bonds

More India News

Photo Gallery

Mumbai(11 Images) Mumbai City
Dilwale(11 Images)Dilwale
Tom Cruise(11 Images) Tom Cruise
  India Web Directory
Business Profiles
Automotive Directory
IT/ITES/BPO Directory
Hotel Directory
Health Directory
Business Directory
Gems & Jewellery
Education Directory
Real Estate Directory
Agriculture Directory
Logistics Directory
Yellow Pages
NRI Guide
Photo Galleries
Global Web Directory
*** FREE India Classifieds
Order Premium Listings
Submit a Site
Business Reviews
Home
About us
Link to us
Advertise
Contact us
Google Search Keywords: India Catalog, IndiaCatalog, India Web Directory
    © 1999 - 2018 IndiaCatalog.com
    All Rights Reserved
Privacy Statement