Posts Tagged ‘Dampens’
Gold Prices Drop for Second Day as US-EU Tariff Delay Dampens Demand for Safe-Haven Investments
Gold prices fell for a second straight session on Tuesday, pressured by a steadying of investor risk sentiment after U.S. President Donald Trump said he would delay an increase in tariffs on the European Union’s goods. Spot gold was down 1.4% to $3,296.79 an ounce by 0901 ET (1301 GMT), after gaining nearly 5% in the previous…
Read MoreNvidia’s forecast dampens AI enthusiasm in other tech stocks
NVIDIA dragged technology heavyweights lower and sent stocks in Asia down on Thursday (Aug 29). This came after the chip maker’s earnings disappointed investors who had been hoping they would fuel fresh gains in Wall Street’s most valuable companies. Nasdaq futures initially dropped about 1 per cent following Nvidia’s quarterly earnings report on Wednesday, suggesting…
Read MoreChina’s Underwhelming Data Dampens Hope Of Economic Recovery
Chinese industrial production growth slowed in July while unemployment rose, official data showed Thursday, highlighting an uneven recovery in the world’s second-largest economy despite recent government measures to try to stimulate expansion. More than a year and a half after the lifting of stringent Covid-19 measures, the much-anticipated post-pandemic recovery has been brief and less…
Read MoreRainy Paris Olympic Parade Dampens Many Spectators’ Spirits
Wrapped in a poncho under torrential rain, Brazilian Lucas Amadeu said he regretted forking out 2,700 euros ($2,930) for a top seat at the opening ceremony of the Paris Olympics on Friday. “I think for those who are watching on the television it must be an amazing show, with beautiful pictures,” he told AFP from…
Read MoreHigh Inflation In Turkey Dampens Ramadan’s High Spirits
As the sun sets over the Bosphorus, a long queue forms on a street in Istanbul as people wait for iftar — the evening meal that breaks Ramadan’s daily fast. Due to Turkey’s high inflation, many worshippers cannot afford to prepare iftar at home and so rely on the local authorities for the meal. It…
Read MoreGold prices dip as firmer US dollar dampens appeal
GOLD prices inched down on Monday (Feb 26), pressured by a firmer US dollar, while investors awaited further clues on the US Federal Reserve’s timing of this year’s first interest rate cut. Spot gold was down 0.3 per cent at US$2,030.9 per ounce, as at 0100 GMT. US gold futures edged 0.4 per cent lower…
Read MoreNigeria Economic Crisis Dampens Christmas Spirit
Lining up, they receive some rice, dried beans and other basic foodstuffs, whose soaring prices have left millions in Nigeria facing a bleak Christmas. The temporary food distribution in the courtyard of the Church of the Assumption in the economic capital, Lagos, has drawn a big crowd — some have travelled far. Christana Adebaya, 58,…
Read MoreSoaring Inflation Dampens Eid Holiday Spirit In Crisis-hit Pakistan
With inflation soaring and political uncertainty leaving the country in turmoil, many Pakistanis are worried about meeting their monthly rent AFP The holiday that marks the end of the Muslim fasting month of Ramadan used to be a guaranteed earner for Pakistan’s small shops and businesses — a big-spending week that could match the take…
Read MoreInflation Dampens Festive Spirit As German Retail Faces Slump
Shoppers carry bags as they walk near the luxury department store Kaufhaus des Westens (KaDeWe), amid the coronavirus disease (COVID-19) pandemic in Berlin, Germany, December 14, 2020. German shoppers are tightening their purse strings this festive season, the HDE retail association warned on Thursday, forecasting the strongest slump in Christmas sales since 2007 as double-digit…
Read More