Currency swap

Representative image Gold hit a four-week high on Tuesday, as a weaker dollar and a dip in U.S. Treasury yields boosted demand for the safe-haven metal amid mounting worries over an economic slowdown. FUNDAMENTALS * Spot gold was up 0.4% at $1,778.69 per ounce, as of 0044 GMT, its highest since July 5. * U.S. gold futures gained 0.2% to $1,791.10 per ounce. * The dollar fell 0.2% to a near one-month low against its rivals, making greenback-denominated gold less expensive for other currency holders. [USD/] Close * Benchmark U.S. 10-year Treasury yields dropped to a four-month low, reducing the opportunity cost of holding non-interest bearing gold. [USD/] [US/] * Data showed U.S. manufacturing activity slowed less than expected in July, with the Institute for Supply Management's (ISM) index of national factory activity dipping to 52.8 last month, its lowest reading since June 2020. * U.S. construction spending also fell 1.1% in June, as outlays on … [Read more...] about Gold climbs four-week peak as US Treasury yields, dollar fall

Oil prices fell about 1% in early trade on Wednesday, reversing gains from the previous session ahead of a meeting OPEC+ producers on fears of a slowdown in global growth hitting fuel demand and a firmer dollar. Brent crude futures fell 94 cents, or 0.9%, to $99.60 a barrel at 0020 GMT, wiping out the previous session's gain. West Texas Intermediate (WTI) crude futures were down 68 cents, or 0.7%, at $93.74 a barrel, after climbing 53 cents on Tuesday. The Organization of the Petroleum Exporting Countries and allies including Russia, together known as OPEC+, meet on Wednesday. OPEC+ sources told Reuters last week that the group will likely keep output unchanged in September, or raise it slightly. Analysts are expecting no change due to a weak outlook for demand as recession fears grow, and said top producer Saudi Arabia may be reluctant to beef up output at the expense of OPEC+ partner Russia, hit by sanctions due to the Ukraine conflict. Close Ahead of the … [Read more...] about Oil falls on demand worries, stronger US dollar

Oil languished near its lowest since the start of the war in Ukraine on Friday on fears of a global recession, though stocks ignored such worries, gaining ahead of U.S. jobs data that will give another clue to the health of the world's largest economy. Benchmark Brent crude futures were up a touch at $94.23 a barrel and U.S. crude futures were also a whisker higher at $88.70 a barrel, after both closed the previous session at their lowest levels since February. Losses were partly due to data on Wednesday showing surge in U.S. inventories last week. "It's a combination of the inventory data and a bit of worries about demand. Because the market is worried about growth more than inflation - even though inflation is still a major issue - the oil price has come down," said Prashant Bhayani, chief investment officer for Asia at BNP Paribas Wealth Management. In another warning sign for the global economy, the closely watched part of the U.S. Treasury yield curve measuring the gap … [Read more...] about Oil languishes on recession fears; unconcerned stocks climb on

Share to Twitter Share to Linkedin A new cleaning solution clean can hospitals better than traditional products, U.K. researchers say. The product – Pathisol – can disinfect a surface in two minutes, which is five times faster than bleach. It can also kill 99.99% of pathogens, including hospital superbug C lostridium difficile . A team of researchers at Teeside University have been running an independent trial of the new product at North Tees and Hartlepool Foundation Trust in northern England. Developed by hospital subsidiary NTH Solutions, it contains a chemical called “hypochlorous acid”, which is already used widely in the US. “We know hypochlorous acid works from studies done in the U.S., but there isn’t yet clear evidence that it is effective in an acute clinical environment such as an NHS hospital,” NTH Solutions’ Educational and Development lead Dan Sullivan told Forbes. “Our study aims to provide that evidence through a robust, … [Read more...] about U.K. Hospital Trialling Cleaning Solution That’s ‘Better Than Bleach’

Share to Twitter Share to Linkedin Dispatches from Ukraine, provided by Forbes Ukraine’s editorial team. As Russia’s invasion of Ukraine continues and the war rages on, reliable sources of information are critical. Forbes Ukraine’s reporters gather information and provide updates on the situation. Saturday, August 6. Day 164. By Dmytro Aksyonov Mykolaiv. Russian shelling along the frontline, on the border of the Mykolaiv and Kherson regions, has killed one civilian and injured five more , says Hanna Zamazieieva , the head of the Mykolaiv regional council. Zamazieieva added that a total of 294 people in the region are currently being treated in hospitals for injuries sustained as a result of Russian attacks and 82 more are being treated at home. Ukrainian state nuclear energy company, Energoatom, reports that yesterday’s shelling on the Zaporizhzhya Nuclear Power Plant has led to more extensive damage than previously thought, and … [Read more...] about Saturday, August 6. Russia’s War On Ukraine: News And Information From Ukraine

Moscow said Friday that it’s open to discussing a possible prisoner exchange involving American female basketball star Brittney Griner but warned Washington against publicizing the issue. WNBA star Brittney Griner, a two-time Olympian and eight-time all-star with the Phoenix Mercury has been detained in Russia since Feb. 17 for allegedly having vape cartridges containing cannabis oil in her luggage. The 31-year-old athlete was convicted Thursday of drug possession and smuggling and was sentenced to nine years in prison. Her conviction comes amid high tensions between Moscow and Washington over Russia’s actions in Ukraine. President Biden told a media briefing Friday that he is hopeful that Griner will be released. “ We’re working hard to make things happen,” he said. U.S. Secretary of State Antony Blinken spoke last week to Russian Foreign Minister Sergey Lavrov. He urged the Kremlin to accept an exchange deal under which Brittney Griner and Paul Whelan, an … [Read more...] about Moscow Luke Warm to Brittney Griner Prisoner Exchange