Gold Prices Slide as Hawkish Fed and Strong Dollar Weigh on Bullion 
Oil Prices Slide as U.S.-Iran Deal and Hormuz Reopening Ease Supply Concerns 
Oil Prices Drop as U.S.-Iran Talks Ease Supply Concerns 
Russian Stocks End Flat as MOEX Index Hits New 52-Week Low 
Japan, U.S. Discuss Yen Weakness as Currency Intervention Concerns Grow 
US Stock Futures Slip After Wall Street Rally Fueled by US-Iran Deal and Chipmaker Surge 
US Dollar Hits One-Year High as Hawkish Fed Outlook Overshadows Middle East Developments 
Dollar Hits One-Month High as Hawkish Fed Outlook Boosts Greenback 
India's new Goods and Services Tax (GST) is likely to have a beneficial impact on India's auto, cement and organised retail sectors, but a negative impact on the oil & gas, traditional retail and SME sectors, according to Fitch Ratings' latest Special Report, published today. In contrast, the agency views the impact as broadly neutral for the property, electricity, telecoms, pharmaceutical and fertiliser sectors.
The new GST regime, which came into effect on July 1, 2017 and will replace a vast array of indirect state taxes and the national service tax, is unlikely to lead to rating changes for any of Fitch's internationally rated corporates despite being negative for certain sectors.
Nevertheless, the agency cautions that implementation risks will remain over the next 12 months due to the complexities of adopting the new system amid a culture of poor compliance, particularly among the traditional retail and SME sectors.
Meanwhile, FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest
