Rupee depreciated sharply against the dollar as dollar strengthened sharply against basket of currencies on risk aversion before crucial
events on global economic calendar
• Domestic equity markets traded in a range bound fashion. Sensex closed at 18762.87, higher by around 17 points
• India's economic growth could slow to as little as 5.5 percent this fiscal year, Finance Minister P. Chidambaram told Reuters, signaling
the possibility that Asia's third largest economy will expand at its slowest pace in a decade
• U.S. President and his challenger Mitt Romney are neck and neck in the polls, which dampened appetite for higher-yielding assets
• China is due to change leadership this week, which further fueled a risk-off session that came at the euro's expense, though the single
currency found room to rise on demand from bargain hunters
• The dollar also continued to see demand after the U.S. Bureau of Labor Statistics revealed the U.S. economy added 171,000 jobs in
October, beating out analysts' calls for a gain of around 125,000.
• The headline unemployment rate rose to 7.9% from 7.8% in September, as more unemployed workers jumped into the labor force by
actively seeking work.
• In Greece, the government will present an austerity plan calling for EUR13.5 billion in spending cuts and tax hikes to Parliament later
Monday in the face of union-driven work stoppages.
• Greece must approve the reforms and pass a new budget to free up some EUR31.5 billion in aid arranged by the International
Monetary Fund, the European Commission and the European Central Bank.
• Some coalition politicians have said they oppose certain austerity measures that call for wage cuts
• Japanese equity market traded negative and Nikkei closed at 9007.44, lower by almost 44 points
• India's foreign exchange (forex) reserves went up by $55.6 million to $295.29 billion for the week ended Oct 26, Reserve Bank of India
(RBI) data showed
• Overall, Indian rupee is likely to take cues from the direction of dollar against major currencies in overseas market
events on global economic calendar
• Domestic equity markets traded in a range bound fashion. Sensex closed at 18762.87, higher by around 17 points
• India's economic growth could slow to as little as 5.5 percent this fiscal year, Finance Minister P. Chidambaram told Reuters, signaling
the possibility that Asia's third largest economy will expand at its slowest pace in a decade
• U.S. President and his challenger Mitt Romney are neck and neck in the polls, which dampened appetite for higher-yielding assets
• China is due to change leadership this week, which further fueled a risk-off session that came at the euro's expense, though the single
currency found room to rise on demand from bargain hunters
• The dollar also continued to see demand after the U.S. Bureau of Labor Statistics revealed the U.S. economy added 171,000 jobs in
October, beating out analysts' calls for a gain of around 125,000.
• The headline unemployment rate rose to 7.9% from 7.8% in September, as more unemployed workers jumped into the labor force by
actively seeking work.
• In Greece, the government will present an austerity plan calling for EUR13.5 billion in spending cuts and tax hikes to Parliament later
Monday in the face of union-driven work stoppages.
• Greece must approve the reforms and pass a new budget to free up some EUR31.5 billion in aid arranged by the International
Monetary Fund, the European Commission and the European Central Bank.
• Some coalition politicians have said they oppose certain austerity measures that call for wage cuts
• Japanese equity market traded negative and Nikkei closed at 9007.44, lower by almost 44 points
• India's foreign exchange (forex) reserves went up by $55.6 million to $295.29 billion for the week ended Oct 26, Reserve Bank of India
(RBI) data showed
• Overall, Indian rupee is likely to take cues from the direction of dollar against major currencies in overseas market
0 comments:
Post a Comment
Let Us Know Your Opinion!