China Delays Pentagon Official’s Beijing Visit Amid Taiwan Arms Deal Tensions 
Spying, Southampton and economic pressure cooker of the ‘richest match in football’ 
Marco Rubio Visits India to Rebuild U.S.-India Ties Amid Trade and Geopolitical Tensions 
Trump Signals Tough Stance on Iran Uranium Stockpile as Nuclear Talks Show Limited Progress 
Dollar Slips as Risk Appetite Grows Amid Nvidia Rally and Iran Peace Hopes 
Oil Prices Rebound as U.S.-Iran Talks Continue to Influence Global Crude Market 
Goldman Sachs Sees Stronger U.S. Dollar as Global Economic Gaps Widen 
Japan Inflation Falls Below BOJ Target as Energy Subsidies Ease Consumer Pressure 
Oil Prices Climb as Trump Warns of Possible U.S. Strike on Iran 
Iran-U.S. Talks Continue as Strait of Hormuz and Uranium Dispute Stall Peace Efforts 
Gold Prices Slip as Iran Conflict and Fed Rate Hike Fears Weigh on Market Sentiment 
India’s inflation continued to remain subdued during the month of November, exerting deeper pressure on the Reserve Bank of India (RBI) to undertake to ease policy in the next 2-day bi-monthly monetary policy scheduled to be held on February 7, a FxWirePro Poll showed Monday. 9 out of 10 economists polled at FxWirePro remained optimistic for a RBI rate cut in February 2017.
India’s consumer prices tumbled in November because of weak food prices. Consumer price inflation in India slowed to 3.63 percent year-on-year in November, owing to the drops in prices of food. The downward surprise was mainly because of fruits and vegetables.
Additionally, India’s wholesale price inflation fell during the month of November, at the slowest pace in five months. However, it came in higher than what market participants had priced in initially.
India's wholesale prices rose 3.15 percent year-on-year in November, its slowest pace in five months, data released by the Indian Ministry of Commerce and Industry showed Wednesday. The data compared with a 3.12 percent annual rise forecast by economists in a FxWirePro poll.
Moreover, the country’s inflation is anticipated to have eased further in coming months due to the failure of demonetization. This masterstroke brought in a pool of electronic transactions that deprived many of hand-to-hand cash exchanges, thus leaving the citizens in a wide array of lower spends overall.
The lower spread of cash transactions, coupled with a maximum limit on ATM withdrawals has pressurised the prices of many retail commodities, including luxuries and real estate prices as well.
"The RBI is expected to slash its benchmark repo rate by 25 basis points to 6.00 percent, following the decline in inflation expectations," said Chintan Master, Director, Finrex in an exclusive interview with FxWirePro last month.
The 2017-18 Union Budget, expected to be unveiled on February 1, 2017 is likely to incorporate a slash in the income tax bracket as well, allowing consumers to combat the negative effects of demonetization. The policy implementation is expected to boost consumer spending, allowing door for some recovery in inflation expectations.
