Wait...

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

Dollar stands tall as US retail slump fans flight to safety.


Date: 16-04-2020
Subject: Dollar stands tall as US retail slump fans flight to safety
TOKYO: A flight to safety bid pushed the dollar higher against its peers on Thursday after dire retail and factory data showed the severity of the collapse in US economic activity caused by the novel coronavirus pandemic.

The dollar's index against a basket of six other major currencies stood at 99.632, maintaining the 0.8 per cent gain from the previous session.

The euro backed off to $1.0911 from a two-week high of $1.0980 while the dollar stood at 107.42 yen, having added 0.2 per cent on Wednesday.

US data underlined fears that damage to the economy from the coronavirus outbreak will be deep and protracted.

Retail sales dropped a record 8.7 per cent in March from the previous month, underscoring the unprecedented scale of economic damage from measures to contain the spread of the novel coronavirus.

A report from the Federal Reserve separately showed manufacturing output plummeted 6.3 per cent last month, the biggest decrease since February 1946.

The New York Federal Reserve also reported on Wednesday that its Empire State manufacturing index, which tracks activity in the sector for New York State, fell to an all-time low.

All those grim numbers poured cold water on recent improvements in market sentiment and hopes the outbreak may be nearing its peak with many developed countries looking to re-open their economies as soon as next month.

"Given the scale and breadth of the US shutdown, our best guess is the economy contracts by around 13 per cent peak-to-trough before we start to see a rolling process of re-opening in the United States from mid-May," said James Knightley, Chief international economist at ING.

"This will involve some ongoing form of social distancing meaning that a return to 'business as usual' could take many months – we don't expect the lost output to be fully recovered until mid-2022."

The British pound traded at $1.2523 having lost nearly 1 per cent in the previous session.

The Australian dollar changed hands at $0.6318 following a drop of 1.9 per cent on Wednesday, its biggest since March 18, ahead of local employment data due at 0130 GMT.

A plunge in crude prices weighed heavily on oil producing countries' currencies.

The Norwegian krona softened 1.4 per cent to 11.470 per euro in the previous session.

The Canadian dollar nursed losses at C$1.4116 . The Bank of Canada on Wednesday added to the suite of assets it is purchasing to cushion the economic blow of the coronavirus pandemic.

US crude prices fell to an 18-year low and Brent lost more than 6 per cent on Wednesday after the United States reported its biggest weekly inventory build on record.

Source:- economictimes.indiatimes.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 21-10-2020
Notification No. 38/2020-Customs
Notification regarding exemption of duties of Customs against scrips issued under the RoSL scheme for apparel and made-ups sectors.

Date: 21-10-2020
Notification No. 07/2020 – Central Excise
Notification regarding exemption of duties of Central Excise against scrips issued under the RoSL scheme for apparel and made-ups sectors

Date: 20-10-2020
Notification No. 37/2020-Customs
Seeks to further amend notification no. 152/2009 dated 31.12.2009, regarding the rate of duty of customs on imports of "Polybutadiene Rubber" originating in Korea RP and imported under the India-Korea Comprehensive Economic Partnership Agreement.

Date: 15-10-2020
Notification No. 99/2020 - Customs (N.T.)
Exchange rate Notification No.99/2020-Cus (NT) dated 15.10.2020- regd.

Date: 13-10-2020
Trade Notice No. 30/2020-2021-DGFT
Electronic filing and Issuance of Preferential Certificate of Origin (CoO) for India’s Exports under GSP, GSTP, India-Malaysia CECA, India-Singapore CECA w.e.f. 15th October 2020

Date: 09-10-2020
Notification No. 39/2015-2020
Amendment in Export Policy of Onions

Date: 08-10-2020
Circular No. 44/2020-Customs
Procedure for inspection of ICDs/CFSs/AFSs -reg

Date: 08-10-2020
Notification No. 49/2020-Customs (N.T./CAA/DRI)
Appointment of CAA by Pr. DGRI

Date: 07-10-2020
Public Notice No.24 /2015-20
Revision of SION H-68, H-301 & H-302 of Export Products- Double Decorative/Single side Laminates with or without Barrier Paper

Date: 06-10-2020
Instruction No. 18/2020-Customs
Directorate General of Audit as a Nodal Directorate for Customs Post Clearance Audit –regarding



Exim Guru Copyright © 1999-2020 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001