After an extended stretch of gains, the US dollar lost some ground in June as risk appetite flourished and dampened demand for the greenback. The euro climbed to a three-month high after the European Central Bank announced a bigger-than anticipated increase to its emergency bond buying program and as Germany ramped-up its fiscal support, while the Canadian dollar rose back to pre-lockdown levels alongside the sharp revival in crude prices.
Gold breached the $1800-mark for the first time since 2011 as the spike in coronavirus cases in some US states prompted a flight into the safe haven, while the massive wave of central bank stimulus also boosted the non-interest bearing metal. Copper advanced on some nascent signs of a recovery in Chinese demand, while the emergence of the pandemic across top mining regions in South America fuelled fears of a major disruption to supply. Finally, oil thrived as cash-strapped producers rapidly shuttered production and as the OPEC consortium agreed to ongoing production curbs, while some hopeful signs of a recovery in global demand helped to alleviate the massive glut in the oversupplied market.
The trip to Zambia was a lifetime opportunity. From landing in Lusaka to living in the sugarcane farm, standing precipitously close to the thundering Victoria Falls, walking with the lions, lounging with the cheetahs, getting charged by an elephant, travelling to a secret place to see the rhinos, and living in a game park amid wild animals … Read more …
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Editor-in-Chief: Ritika Chandhok | Published by: KONE Elevator India Private Limited | Editorial Office: Ideascape Communications Pvt. Ltd.