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Below are Views On Global rating agency Moody’s has recently pointed that the European Union recove by Heena Naik, Research Analyst - Currency, Angel Broking Ltd

Global Update

- Global rating agency Moody’s has recently pointed that the European Union recovery funds will be beneficial for southern Europe even as its long-term benefits are more uncertain.

- DXY plunged lower as expectations that U.S. interest rates will remain low undermined the greenback. Markets shall pay attention to the upcoming FOMC Meeting Minutes to get clarity on inflation and rate hike.

- Fed Vice Chair Richard Clarida said that the weak U.S. jobs report showed the economy had not yet reached the threshold to warrant scaling back asset purchases.

- China has banned financial institutions and payment companies from providing services related to cryptocurrency transactions, and warned investors against speculative crypto trading.

- The Indian government is likely to sell nearly 2% stake in Axis Bank Ltd. held through SUUTI which shall fetch them around Rs 3,969 crore.

- India’s fiscal deficit for FY21 may come lower than the budgeted levels of 9.5% of GDP, with both revenue and expenditure expected to be higher than anticipated.

- Indian Rural unemployment has nearly doubled to 14% in one week as lockdowns and surging covid infections in villages brought economic activity to a halt.

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