IGI Logo

Below are Views On Global Update by Heena Naik, Research Analyst - Currency, Angel Broking Ltd

Global Update

- According to CARE Ratings, gross non-performing assets are expected to decline in FY21 due to restructuring of accounts, loan write-offs and resilience in the economy.

- Earnings at China's industrial firms grew at a slower pace in April, with high commodity prices and weaker performance in the consumer goods sector limiting overall profitability from manufacturing.

- In phone talks, the Chinese Vice Premier Liu He and the US Trade Representative Katherine Tai had conducted candid, pragmatic and constructive exchanges in an attitude of equality and mutual respect.

- Fed Vice chair for supervision Randal Quarles signaled the U.S. central bank's plans to open talks on easing its bond buying program as the economy roars ahead and prices rise.

- Oil prices settled higher as a drop in U.S. crude stockpiles reinforced expectations of improving demand ahead of the peak summer driving season, offsetting worries that a possible return of Iranian supply would cause a glut.

- The Japanese government slashed its economic outlook for the first time in three months, citing new weakness in private consumption and business conditions because of coronavirus emergency measures.

Above views are of the author and not of the website kindly read disclaimer