India’s central bank stepped into the foreign exchange markets to support the rupee after the currency weakened toward a record low as a renewed surge in crude prices weighed on sentiment.
A closely-watched gauge of China’s copper market has risen to the highest in more than a year, as a tax shake-up in the metal’s biggest market spurs a shortage of scrap and boosts demand for imports.
Leveraged funds have taken their short positions on the New Zealand dollar to a record high, betting that a recent rebound in global oil prices may exacerbate domestic economic pressures.
Oil prices rose while U.S stock-index futures were little changed on Sunday, amid an escalation of fighting in the Middle East and as investors await key tech earnings this week.
Managements sounded fairly confident that credit demand will hold up.
Soybeans and corn futures extended gains as crude oil jumped after hostilities in the Middle East escalated, boosting the appeal of biofuels.
The US and Iran engaged in another wave of tit-for-tat attacks, signaling no let-up after strikes by the Islamic Republic killed two American service members in Jordan on Friday.
India’s top private banks are betting on a sustained pick up in lending after reporting healthy numbers in the first quarter of the fiscal year, as more companies shift away from pricier bond market borrowings to cheaper loans.
Jingye Steel Co. has reserved all legal rights, including international arbitration, over the UK government’s nationalization of British Steel.
South Korea laid out a detailed plan to make the won freely tradable among foreigners, its boldest step yet to liberalize the forex market and bring the currency closer to full convertibility.
