The U.S. dollar climbed to a two-month high, on track for its largest weekly gain in more than two months. Fueling the move were rising energy prices and shipping disruptions that are stoking inflation fears, alongside firmer growth signals such as retail sales and stable jobless claims. Those factors have pushed markets to price a December Fed rate hike more aggressively. Meanwhile, the U.S.-China summit delivered cautious signals, with attention on Strait of Hormuz reopening and possible Chinese interest in U.S. oil.
Mango processors in Andhra Pradesh say large quantities of mango pulp are trapped because shipping lanes have been disrupted, blocking exports. The industry is urging the central government to intervene with equity capital, credit guarantees, loan payment moratoriums, and inclusion in export facilitation schemes to help firms manage cashflow and restart trade.
Your news, in seconds
Get the Beige app — every story in 60 words, updated hourly. Free on iOS & Android.
Attacks and threats have nearly halted all shipping through the Strait of Hormuz, disrupting oil flows and driving prices higher. The corridor has been weaponized before, including past threats from Iran, and even now some vessels continue to cross. With the wider war intensifying, energy markets are facing sharp shocks as supply risk grows.
Gold held in Dubai is being sold at notable discounts as conflict across the Middle East disrupts flights and shipping. With delivery costs and timelines uncertain, buyers are holding back, pushing traders to price bullion up to $30 per ounce below global benchmarks. Some shipments still move, but delays are affecting India’s physical availability even as inventories remain adequate.
Swipe through stories, personalise your feed, and save articles for later — all on the app.
