Below are Views On India’s WPI Inflation YoY surged to 7.39 percent in the month of March’21 By Heena Naik, Research Analyst - Currency, Angel Broking Ltd
* India’s WPI Inflation YoY surged to 7.39 percent in the month of March’21 from the previous month’s 4.17 percent on rising crude oil and metal prices.
* India's trade deficit in goods widened to $13.93 billion in the month of March’21 from the previous month’s $12.62 billion.
* Exports rose to $34.45 billion from $27.90 billion, while imports grew up to $48.38 billion from $40.54 billion.
* China's economy expanded by 18.3 percent similar to its expected levels and higher than the previous one. This recovery was mainly due to global vaccination progress, resilient exports and government stimulus.
* The outcome of the first tranche of the RBI's bond-purchase programme disappointed traders as RBI bought lesser than the expectations which led to the benchmark 10-year bond yield elevating to its highest level in a week.
* US President Joe Biden and Japanese Prime Minister Yoshihide Suga are expected to present a united front on Taiwan, China's most sensitive territorial issue, in a summit meeting that is to be held today.
* The Cleveland Federal Reserve Bank President Loretta Mester stated that the US economy still had a long way to go to fully recover from the crisis caused by the coronavirus pandemic but the outlook was seen improving.
* US retail sales rose by the most in 10 months in March’21 as Americans received additional pandemic relief checks from the government.
* US imposed sanctions on Russia due to its interfering in last year’s U.S. election, cyber hacking, bullying Ukraine and other alleged malign actions.
* In retaliation, the Russian Foreign Ministry warned that a series of retaliatory measures would follow soon.
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