• Indian rupee opened the session lower against the dollar and continued to trade weak throughout the session following the strength in
the dollar index.
• Domestic equity markets lost the momentum late in the session and posted healthy losses of close to a percent as Sensex fell by 162
points and ended the session at 18309.37.
• According to the finance ministry officials, India will struggle to meet its already swollen deficit target this year after a dismal response
to this week's 2G auction.
• Meanwhile, India’s sovereign credit rating are once again under threat as global rating agencies have threatened to downgrade India's
status to junk if it fails to put its fiscal house in order.
• RBI continues to feel jittery about the 7.5 percent rate of India’s inflation even though the WPI softened to an eight month low of 7.45%
in October as the RBI was on alert to manage both growth and inflation.
• Eurozone’s 3Q data revealed that the area has once again slipped into recession as the Q3 GDP was down by 0.1%, which is the
second consecutive quarterly decline. The only economies to post expansion were the German and French economies, which
expanded both by 0.2%.
• Euro fell against the dollar following the news of the official recession in the Eurozone, the second time it occurs in the last three years.
• IMF has said that the EU needs to take 'other actions' to help the ailing economy of Greece. Meanwhile, Europe is opposed to
restructuring its Greek debt.
• UK pound firmed against the dollar as the EMU's trade balance figure came at €9.8B versus the previous reading of €5.2B.
• Japanese yen gained marginally against the dollar following the risk aversion amongst the investors due to the rise of geopolitical
tensions in the middle east.
• Currency markets are expected to take further cues from the start of the negotiations of the ‘Fiscal Cliff’ in the U.S. as the US President
is expected to seek for a balanced approach.
the dollar index.
• Domestic equity markets lost the momentum late in the session and posted healthy losses of close to a percent as Sensex fell by 162
points and ended the session at 18309.37.
• According to the finance ministry officials, India will struggle to meet its already swollen deficit target this year after a dismal response
to this week's 2G auction.
• Meanwhile, India’s sovereign credit rating are once again under threat as global rating agencies have threatened to downgrade India's
status to junk if it fails to put its fiscal house in order.
• RBI continues to feel jittery about the 7.5 percent rate of India’s inflation even though the WPI softened to an eight month low of 7.45%
in October as the RBI was on alert to manage both growth and inflation.
• Eurozone’s 3Q data revealed that the area has once again slipped into recession as the Q3 GDP was down by 0.1%, which is the
second consecutive quarterly decline. The only economies to post expansion were the German and French economies, which
expanded both by 0.2%.
• Euro fell against the dollar following the news of the official recession in the Eurozone, the second time it occurs in the last three years.
• IMF has said that the EU needs to take 'other actions' to help the ailing economy of Greece. Meanwhile, Europe is opposed to
restructuring its Greek debt.
• UK pound firmed against the dollar as the EMU's trade balance figure came at €9.8B versus the previous reading of €5.2B.
• Japanese yen gained marginally against the dollar following the risk aversion amongst the investors due to the rise of geopolitical
tensions in the middle east.
• Currency markets are expected to take further cues from the start of the negotiations of the ‘Fiscal Cliff’ in the U.S. as the US President
is expected to seek for a balanced approach.
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