The country’s net direct tax collections surged by 17.7% year-on-year to ₹19.58 crore in the fiscal year ended March 2024, exceeding both budget and revised estimates.
Four spears taken from Australia by British explorer James Cook more than 250 years ago will be returned by Cambridge University to descendants of the indigenous Gweagal community who crafted them.
Fact: The South Mathiatis-Strongylou Mine in Cyprus is the only mine in the country that has been a UNESCO candidate in the natural and cultural landscape category since 2002.
Karolina Pelendritou won the 50m freestyle at the European Para-swimming European Open Championships in Madeira with a time of 29.72, close to her personal record of 29.71.
The Euro-dollar currency pair is trading in the lower 1.0600s on Friday after news reports of an escalation in the Middle East conflict prompted a flight to safe-haven USD, resulting in a decline in EURUSD.
Israel has attacked Iran in retaliation for a drone strike on Israel. Iran’s air defense systems destroyed drones in Isfahan, causing explosions. Analysts fear the Israel-Gaza conflict spreading in the region. Iran warned of a severe response to attacks. Financial markets reacted negatively to the escalating tensions. Iran’s nuclear facilities were unharpmed, and flights in Iran were disrupted. Israel’s military offensive in Gaza has resulted in numerous Palestinian casualties. Iran-backed groups have supported Palestinians by launching attacks from various countries.
Gold is trading around ,370 per troy ounce due to caution amidst geopolitical tensions in the Middle East. The US Dollar Index is losing ground, making Gold less expensive for investors using other currencies. Federal Reserve officials have acknowledged that inflation has surpassed expectations. Fed Chair Jerome Powell’s recent comments suggest a potentially hawkish stance on upcoming monetary decisions.
Geopolitical tensions are causing caution among investors, with concerns about potential retaliation from Israel against Iran. The Nasdaq index fell below its 50-day SMA, indicating a possible sell-off. US economic data, including industrial production and Fed Chairman Jerome Powell’s speech, are being closely watched. Oil prices are influenced by tensions in the Middle East, with the possibility of Brent crude reaching 0. Gold prices are anchored by inflation expectations and geopolitical tensions, with potential for further increases. China’s strong GDP growth is seen as positive for gold demand. Powell’s speech and potential oil price increases could impact inflation. Gold prices are expected to continue rising, potentially reaching ,500.
The text discusses a small market relief rally following Iran’s missile and drone strike on Israel, with US stock futures rising and gold and oil prices slightly lower. The CEO of deVere Group warns investors not to be complacent, as the situation in the Middle East remains volatile and any disruption in oil production could have significant implications for energy prices worldwide. The ripple effects on financial markets could impact investor sentiment, corporate profits, consumer spending, inflation, and central bank monetary policy. Investors are advised to seek refuge in sectors less sensitive to geopolitical risks and to conduct thorough research, diversify portfolios, and consult with a financial advisor before making investment decisions.
– Growing expectations for a delay in the Federal Reserve’s policy pivot and escalating geopolitical tensions fueled an impressive US Dollar rally last week.
– Iran launched an assault with dozens of drones in retaliation to a suspected Israeli attack on Iran’s consulate in Damascus.
– UN Secretary-General Antonio Guterres condemned Iran’s drone attacks targeting Israel as a “serious escalation” and called for restraint.
– US stock index futures trade modestly higher after a sharp decline on Wall Street.
– Gold opened higher and advanced above ,370 before retreating.
– EURUSD broke below 1.0700 and stabilized around 1.0650.
– GBPUSD lost 1.5% last week and stays below 1.2500 on Monday.
– Japanese Finance Minister Shunichi Suzuki is closely watching FX moves, particularly the broad Yen weakness.
– USDJPY closed the previous week higher and continued to push higher, trading at its highest level in over three decades near 154.00.