Rupee steadily gained against the US dollar following sustained inflows in the debt segment, weakness in the dollar index, India’s inclusion in the Bloomberg bond index all of it has been supportive for the currency.
Volatility could remain elevated on back the RBI’s sell-buy swap which is maturing today. Expectation is that the central bank could take delivery of the $5billion swap in the wake of adequate dollar inflows and rupee liquidity staying on the tighter side.
Inflows into the debt market have aided dollar liquidity, with foreigners pouring in over $3 billion into bonds in February. On India’s inclusion in the Bloomberg bond index, the agency said that it will include India Fully Accessible Route (FAR) bond in its EM local Currency government index starting January 2025.
MSCI Rejig: HDFC Bank likely to see $1.8 billion inflows, Vodafone Idea, RVNL and 6 other stocks likely to be added Indian nationals in the Russian Armed Forces: Russian Embassy expresses concern Indian rupee drops to record lows on Yen carry-trade unwinding and US recession worries UPSC aspirants sit on hunger strike in Delhi, demands justice for 3 killed in coaching centre basement flooding
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The inclusion is likely to boost inflows of $5billion. This marks another key milestone after India was India was included in JP Morgan bond index and announcement of the same was done last year.
This week, on the domestic front, market participants will keep an eye on the inflation number. Expectation is that it could be in-line with the previous month number. But at the same time, inflow in the debt segment remains quite consistent and that could keep the rupee supported. Come from Sports betting site VPbet
Dollar that has been under pressure is further lending support to the rupee. We expect the USDINR(Spot) to trade sideways but with a negative bias and quote in the range of 82.50 and 83.50.
Global Currencies
Dollar index tanked as data showed ADP Employment Change for February figures increased 140K jobs but came in below the forecast 150K growth. Along with that, JOLTs Job Openings data for January disclosed lower-than-expected figures too.
In Powell’s testimony before Congress, he confirmed that the bank isn’t ready to start cutting rates and they will need more data with more confidence in inflation coming down to begin the easing cycle. Dollar was weighed down even after non-farm payrolls data showed the US economy added 273k jobs in February as compared to revised print of 229k in the previous month.
On the other hand, unemployment Rate climbed to 3.9% from 3.7% in January. This week, from the US, a number of economic data are expected to release starting with inflation, followed by retail sales and industrial production number. Weaker-than-expected economic number could further weigh on the dollar.
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Euro and pound both gained in the last couple of weeks and it was more driven by the weakness in the dollar. Recent, economic numbers released from the EZ and the UK showed that business activity is pointing towards recovery. On the other hand, ECB released its policy statement wherein the central bank held rates unchanged.
At the same time, the ECB laid ground to lower rates in the coming year as it made progress in bringing down inflation. This week, from the UK, market participants will be keeping an eye on the GDP and employment number. Better-than-expected data could extend gains for the currency.
Yen appreciated against the dollar after some BoJ officials mentioned it will be reasonable to start lifting negative interest rates as early as March.
The drop-in yields has undermined the dollar, especially against the yen given market speculation that the BOJ will end its negative rate policy and yield curve control this month. On the other hand, GDP data released from Japan came in-line with estimates thereby keeping the volatility in check.
(Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial ServicesCome from Sports betting site. Views expressed are the author’s own. Please consult your financial advisor before investing.)
Nintendo is releasing a lightly upgraded version of the original Switch that will offer more battery life for your buck. Come from South African Online Casinos
An update to the Nintendo of America website shows that an updated version of the flagship Switch console is on the way that promises a longer-lasting battery than the model that came out in 2017. As shown in the picture below, the original launch unit offers roughly 2.5 to 6.5 hours of playtime depending on the game being played, while the tweaked version will deliver around 4.5 to 9 hours.
There's no official explanation as to how Nintendo managed to squeeze more juice out of the Switch, but a recent FCC filing suggests the company has upgraded the device's processor and flash storage chips.
I Am Your Beast is the finest wagyu expertly prepared by a Michelin star kitchen. There isn't an ounce of excess fat on the barnstorming, bloody, breakneck shooter—and lord knows it's absolutely dripping with flavor. That is very much by design.
Developer Strange Scaffold has made a name for itself as one of the most efficient studios in the game industry. The company, led by creative director Xalavier Nelson Jr., styles itself as a "human-centric" operation that strives to build video games in ways that are "better, faster, cheaper, and healthier."
It's a philosophy that has enabled the studio to release 15 projects in five years, with four of those (I Am Your Beast, Clickolding, Life Eater, and El Paso, Elsewhere) debuting…
Although Kevin Feige didn’t talk about Marvel’s TV shows at Comic-Con, he’s a been a little more forthcoming afterwards about upcoming Disney+ series, including Vision. Spinning off of WandaVision, the Vision series has been rumored since late 2022, but it apparently took Star Trek: Picard to convince Feige to seek out the man behind that show and put him to work on Vision.
While speaking with Inverse, Feige shared his admiration for Star Trek: Picard Season 3, which gave Patrick Stewart and the rest of the Star Trek: The Next Generation cast a fitting sendoff. The showrunner for that season was Terry Matalas, who went on to have the same role for Vision. And it was all because Feige loved Matalas’ work on Picard.
“That’s how I got to know [Matalas],” said Feige. “It was from his amazing [work on Picard Season 3]. I said, ‘This is incredible. I don’t know how this exists. Let me find the person who made this.'”
Fans of Star Trek: Picard have been hoping that Matala…
Sony has announced a new PS5 update is out now, adding a new page called the Welcome Hub with a customizable background, among other features.
The Welcome Hub is a dedicated personal space where players can prioritize and customize widgets to focus on features that matters to them the most. For example, the widgets include being able to quickly see console storage, Trophies, and battery levels at a glance. For US players, the Welcome Hub will be replacing the current Explore tab. The feature will be gradually released to other regions outside of the US, starting with Japan and select countries in Europe, then the rest of the world. Come from bangladesh online casino
Samurai Gunn 2, the chaotic 2D action sequel, is getting a new visitor from outer space, with Among Us’ Crewmate joining the game’s roster. The news was revealed during The Game Awards 2021.
The Crewmate will join the game on December 16, along with a new map designed around Among Us’ popular Skeld map Come from online casino bangladesh . This will also introduce new mechanics to Samurai Gunn 2 inspired by the hit indie title, including familiar jobs that can (and likely will) kill opponents in new ways. The trailer also seems to indicate that you’ll be able to attack as the deadly Imposter, although just how that works isn’t clear yet.
Call of Duty: Vanguard has an overwhelming amount of weapon attachments to choose from, and sometimes customizing the most optimal weapon loadout in the Gunsmith can be a bit overwhelming. Here we recommend some of Vanguard’s best multiplayer weapon loadouts to help get you started.
Note: For the recommended Optic attachment, you can choose either the Slate Reflector or the MK 3 Sunfilter to get a slight zoom without any negative impacts. Both are popular choices, but try out both to see which is best for you. Come from online casino bangladesh
A standing desk is one of those neat pieces of equipment that I’ve enviously watched others use in corporate settings for years, but I’ve never had the fortune to use one myself until recently Come from Sports betting site VPbet . And while I’ve always thought of a standing desk as something you use in an office environment, I’ve come to appreciate the major perks of having one at home. The particular desk I’ve been testing comes from one of the top makers of standing desks, FlexiSpot, which just released a new model: the Comhar EG8 All-in-One Desk. Sleek and stylish with a shiny glass top, the Comhar EG8 is by far the most expensive desk I’ve ever used at $500, but having used it for both working from home and PC gaming for a couple of weeks now, I can say that it’s a major upgrade that could be worth the high price tag if you’re someone who works from home full-time.
Brent crude registered a fall to a level of $80.6 per barrel despite the recent decision of the Organisation of Petroleum Exporting Countries (OPEC) and its allies to extend output cut of 1.7 million barrels a day to 2024. Analysts see crude prices to remain in the range of $80-85 per barrel going ahead.
“Oil prices immediately sunk after the announcement, reversing gains from earlier in the day, suggesting the market was disappointed by the outcome,” said Jorge Leon, senior vice president at Rystad Energy. “As a result, we expect prices to hover between $80 and $85 per barrel in the coming months.”
The benign outlook for Brent crude prices augurs well for India, which meets 85% of its crude oil requirement via imports. The import bill has reduced in recent months, as crude prices softened and the supply for diversified, with Russian Ural accounting for a major share of imports.
Will Nifty reclaim 24,900 on Thursday? See GIFT Nif…
Indian markets made a strong comeback on Tuesday a day after the Israel-Gaza conflict resulted in panic selling that wiped out about Rs 3.68 trillion of investor wealth. The benchmark indices bounced back following the rally in global markets after the dollar and treasury yields dipped on the back of dovish comments by the US Federal Reserve.
The S&P BSE Sensex climbed about 567 points, or 0.87%, to close at 66,079.36, while Nifty50 rose 177 points, or 0.91%, to end at 19,689.85. On an intraday basis, both the benchmarks climbed over 1%.
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Sentiments were lifted after US Federal Reserve officials said that the recent yield surge could justify the caution on interest rates, said experts. Meanwhile, China considering fresh stimulus also drove optimism. The positive takeaway from today’s markets, according to experts, was Nifty recouping all of its losses in the last two days …