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

Global Update

- Business activity in the eurozone increased at its fastest rate in 21 years in July due to loosened COVID-19 restrictions. But the spread of the Delta variant infused concerns that new measures could again sow chaos in the economy.

- The Federal Reserve meets on Wednesday and, while no change in policy is expected, Chair Jerome Powell will likely be pressed to clarify what "substantial further progress" on employment would look like.

- Chinese tech shares plunge as regulatory pressure lingers. Apparently, China’s antitrust regulator ordered Tencent to give up its exclusive music licensing rights and slapped a fine on it for anti-competitive behavior.

- Today, both the US and China are expected to hold their first high-level talks since March.

- India’s exports grew by 45.13% in July on account of growth in sectors such as gems and jewellery, petroleum and engineering. Imports also rose by 64.82%, leaving a trade deficit of $ 9.29 billion.

- India's FX reserves zoom to record high of $612.73 bln.

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