Rupee strengthened against the dollar as dollar lost against basket of major currencies in the last session. The dollar was sold-off aggressively as soon as the news of an Obama win came in, with markets pricing in an extended term from the president that has brought the US debt to GDP to uncharted territories by enjoying at the helm of the Fed ultra-dovish Federal Reserve Chairman Ben Bernanke and his quest for QE to infinity Hundreds of thousands of Greek workers walked off the job in a two-day national strike to protest against government austerity measures.
The mass walkout caused major disruption to public transportation Greece sold 1.3 billion euros of six-month Treasury bills, with the yield slightly falling from a previous auction in October, debt agency PDMA said Greek consumers grew more pessimistic about their economy in October as the government wrangled with international lenders about more austerity measures, data showed A deal to keep Greece afloat by providing more bailout money will be agreed in "due time" once a report on the country is finalised by the troika of the IMF, the European Commission and the European Central Bank, European Council President Herman van Rompuy said Greece's coalition government hopes to overcome its own divisions and defy protesters' fury at parliament's gates on Wednesday to push through an austerity package needed to secure an injection of aid and avert bankruptcy The German industrial production fell 1.8% on September, increasing the contracting pace of 0.5% seen in the prior month. The annualized figure was revised from 0.8% to 1.3% in August, and September data points to 1.2% According to a draft report prepared by the European Commission, Spanish economy will contract by 1.5% in 2013 and will not grow until 2014. The EC's public deficit estimates for Spain are worse than those projected by Mariano Rajoy's government The European Commission, which will officially publish its report on Wednesday, forecasts that Spanish GDP will decrease by 1.5% in 2013, in comparison with its previous estimates of 0.5%
The mass walkout caused major disruption to public transportation Greece sold 1.3 billion euros of six-month Treasury bills, with the yield slightly falling from a previous auction in October, debt agency PDMA said Greek consumers grew more pessimistic about their economy in October as the government wrangled with international lenders about more austerity measures, data showed A deal to keep Greece afloat by providing more bailout money will be agreed in "due time" once a report on the country is finalised by the troika of the IMF, the European Commission and the European Central Bank, European Council President Herman van Rompuy said Greece's coalition government hopes to overcome its own divisions and defy protesters' fury at parliament's gates on Wednesday to push through an austerity package needed to secure an injection of aid and avert bankruptcy The German industrial production fell 1.8% on September, increasing the contracting pace of 0.5% seen in the prior month. The annualized figure was revised from 0.8% to 1.3% in August, and September data points to 1.2% According to a draft report prepared by the European Commission, Spanish economy will contract by 1.5% in 2013 and will not grow until 2014. The EC's public deficit estimates for Spain are worse than those projected by Mariano Rajoy's government The European Commission, which will officially publish its report on Wednesday, forecasts that Spanish GDP will decrease by 1.5% in 2013, in comparison with its previous estimates of 0.5%
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