EUR/USD Smashes 1.1660 as ADP Jobs Massacre Crushes the Dollar 
Bitcoin Defies Gravity Above $93K Despite Missing Retail FOMO – ETF Inflows Return & Whales Accumulate: Buy the Dip to $100K 
U.S. Black Friday Online Spending Surges to $8.6 Billion, Boosted by Mobile Shoppers 
Bitcoin Reserves Hit 5-Year Low as $2.15B Exits Exchanges – Bulls Quietly Loading the Spring Below $100K 
Morgan Stanley Boosts Nvidia and Broadcom Targets as AI Demand Surges 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Airline Loyalty Programs Face New Uncertainty as Visa–Mastercard Fee Settlement Evolves 
Bitcoin Smashes $93K as Institutions Pile In – $100K Next? 
Latest economic reports shows that hard economic data is not living up to the expectations of economists as soft data such as sentiment pointed to. The new government at the center brought new hopes over Indian economy as the government launched several projects such as 'Make in India', 'Digital India' , lowered taxes on corporates to encourage more businesses.
While sentiment has been high and companies like Foxconn, largest supplier to Apple promised to make India its one of the largest manufacturing Hub, hard data is hardly providing any evidence of improved growth.
- Yesterday growth number showed India grew at 7% in first quarter compared to analysts' estimate of 7.5% growth.
- Today manufacturing PMI report showed further slowdown in activity in the sector, with headline PMI dropping to 52.3 in August from 52.7 in July. New orders growth from abroad and home has slowed further.
Due to lack of majority in upper House the government hasn't been able to pass crucial reforms and might remain in deadlock ill 2017.
Indian Rupee is still hasn't recovered from its recent slump over China' devaluation of currency. While further retracement is possible if the concern over China subsides.
USDINR is currently trading at 66.31.
