IGI Logo

News Box

India's exports of goods saw a modest increase in November following a steep declinethepreviousmonth, which helped the country's trade deficit decrease month over month. According toinformation issued by the government on Thursday, merchandise exports were $31.99 billion inNovember 2018, an increase of 0.59% from $31.8 billion in the same month the previous year.

Dollar strengthened and the DXY climbed back above the 104.00 level amid a haven bid as stockstumbled following a plethora of central bank rate hikes and disappointing US data releasesincluding a surprise contraction in Industrial Production and larger-than-expected decline in RetailSales.

Treasuries were firmer following weak US data which saw T-notes shrug off the pronounced EGBselling after the hawkish ECB.

BoE raised the Bank Rate by 50bps to 3.50%, as expected, with the decision made by 6-3 vote splitas Tenreyro and Dhingra voted to keep rates unchanged, while Mann voted for a 75bps hike

ECB raised its key rates by 50bps, as expected, and it judged that interest rates will still have torise significantly at a steady pace to reach levels that are sufficiently restrictive, while futurepolicy rate decisions will continue to be data-dependent and follow a meeting-by-meetingapproach.

OUTLOOK - USDINR

Despite early hiccups, Uppish bias prevailed for the rest of the day as soon as USDINR stabilised above the 82.65 level discussed yesterday. We are yet to cross the 82.91-83 bandthough, until which time, sideways moves may be expected.

Read Complete Report & Disclaimer Click Here

For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer 

SEBI Registration Number: INH200000345

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer