The INR fell 3.5% last month, marking the third worst Asian performance after the MYR (-8.6%) and IDR (-3.8%). Despite lower oil prices (lower trade deficit), portfolio outflows (equities) have accelerated from India. CP…
The INR fell 3.5% last month, marking the third worst Asian performance after the MYR (-8.6%) and IDR (-3.8%). Despite lower oil prices (lower trade deficit), portfolio outflows (equities) have accelerated from India. CPI fell to a low of 3.78% in June from 5.4% while Q2 GDP growth slowed to 7.0% yoy from 7.5% in Q1.
A rate cut by the RBI is not ruled out on 29 September, but odds will keep fluctuating depending on China and the Fed rate decision. India is in a good position relative to Asian peers thanks to stronger growth prospects and moderating inflation, low ST currency liabilities and a narrowing fiscal deficit. Governor Rajan has reiterated that the RBI is not averse to drawing down the $380bn of FX reserves to counter rupee volatility.
Gold prices edged lower on Monday as stronger-than-expected U.S. nonfarm payrolls data dampened hopes for aggressive Federal Reserve rate cuts, bolstering the dollar. Spot gold slipped 0.1% to $2,686.32 an ounce, while F…
On-chain data shows BTC whales moved 10000 BTC from Crypto exchanges. This indicate accumulation of BTC by whales. Japanese public company Metaplanet buys another 1 billion yen worth of Bitcoin. According to Santiment, t…
Personal income increased by 0.2% month over month In August, which was less than the 0.4% market forecast and less than the 0.3% growth in July. For the third consecutive month, real personal disposable income increased…
