Early Thursday morning Asian trade saw a decline in oil prices as concerns over whether the US will escape a financial default outweighed the potential for more production cutbacks from OPEC+.In the Morning session, Brent crude futures had dropped 5 cents, or 0.1%, to $78.31 per barrel. West Texas Intermediate (WTI) crude for the United…
Despite numerous tries throughout the past month, Bank Nifty has not yet crossed its all-time high of 44,151.80. As the monthly derivatives expiry nears, it has been range-bound and aimless for the past several sessions, which has worried investors. While the Bank Nifty’s growth has been restrained by the failure of large US and European…
Following a recovery in the dollar and weaker Chinese currencies, the Indian rupee concluded the prior week on a negative note. The local unit dropped for the second consecutive week to close at 82.77, the lowest level since February 2023. The rupee fell after reaching 82.50, despite significant inflows of foreign capital. Foreign institutions have…
Early Friday morning Asian trading saw a minor decline in oil prices as hopes that a U.S. debt default will be avoided were weighed against persistent inflation statistics that might signal future interest rate increases from central banks around the world. Brent futures were down 2 cents at $75.84 per barrel on today morning. West…
On Friday, traders increased predictions of an impending halt to the U.S. Federal Reserve’s rate-hike cycle on signs of slowing inflation, sending the U.S. dollar plummeting to a one-year low versus a basket of currencies while the euro reached a one-year high. A day after inflation statistics indicated a moderating in consumer prices, data from…
The Purchasing Managers’ Index (PMI) for manufacturing increased to 56.4 in March from 55.3 in February, indicating that the manufacturing sector concluded fiscal 2022–23 at its peak. Unfortunately, little progress was made on the job front, per the S&P Global monthly survey, which was released on Monday. Pollyanna De Lima, Economics Associate Director, S&P Global…
According to RBI Monetary Policy Committee (MPC) member Jayanth R Varma, India’s economic development appears to be “extremely unstable” and may not be sufficient for the nation to meet the demands of its expanding workforce.In India, according to Varma, he anticipates that inflation would stay high in 2022–2023 but will sharply decline in 2023–2024. Nevertheless,…
At its upcoming meeting, which is set for April 6–8, the monetary policy committee (MPC) is expected to vote in favour of a 25 basis point increase in the policy repo rate, according to economists, as the February MPC review minutes highlighted internal members’ elevated concerns over core inflation and hawkish communication. The February MPC…
According to a warning in an article in the most recent monthly bulletin from the RBI, the decline in inflation is predicted to be obstinate and hampered by supply shocks over the coming year. According to the article headed “Status of the Economy,” almost every other component of the consumer price index, statistical and exclusion…
Retail inflation measured by the Consumer Price Index (CPI) surpassed the RBI’s upper tolerance level in January after dropping for the previous two months and increased from 5.72% in December to 6.5 percent. The more expensive cereals, along with spices and other food items, are one of the main causes of the increase to a…
