Record high trade deficit, technical factors add to woes
On August 4, the Bank of England is expected to raise rates by 50 bps to 1.75 per cent. A Business Standard poll of 10 economists expects the RBI to raise rates by 35-50 bps
The US dollar index, a measure of the currency against six major rival pairs, was at 105.67 around 6.15 pm IST on Tuesday. It had climbed to a 20-year high of 108.54 in late July
Spot gold was flat at $1,719.49 per ounce by 1438 GMT. U.S. gold futures were little changed at $1,719.10.
Brent crude futures for September were down 18 cents to $99.39 a barrel at 0727 GMT after settling below $100 for the second straight session on Wednesday
This move by the central bank results in premiums crashing
Dollar lost some of its shine since investors started betting the Fed could slow the rate-tightening pace following another 75 basis-point increase in July, and may start easing policy after Mar 2023
European benchmarks and US futures slipped after Tokyo and some other markets tracked Wall Street's gains of the day before
CLOSING BELL: NTPC, Infosys, HUL, Wipro, and RIL slipped over 1 per cent each
CLOSING BELL: Select IT, metals, and pharma stocks helped the headline indices recover from the day's low
Analysts believe that the persistent FII selloff, fear of aggressive rate hikes by the US Federal Reserve (US Fed) and weaker rupee was dampening investors' sentiment.
The 50-basis-point rate increase this month was the first of that size in more than 20 years, and has set the Fed on course for a quick tightening of monetary policy
Australian bonds slid, and the currency jumped, after the nation's central bank increased borrowing costs by more than many had expected
The dollar index had reached a five-year top of 103.28, and a further push above 103.82 would see it to levels not visited since late-2002
Global stock markets and Wall Street futures sank Wednesday after a Federal Reserve official's comments fuelled expectations of more aggressive U.S. rate hikes and the White House announced more sanctions on Russia. London and Frankfurt opened lower. Tokyo and Hong Kong fell, while Shanghai was little changed. Oil prices rose more than $1 per barrel. Wall Street's S&P 500 index tumbled 1.3% on Tuesday after Fed Governor Lael Brainard said reining in inflation that is at a four-decade high is of paramount importance. Brainard said the Fed is set to keep raising rates after its March hike, its first in four years, and might decide at its May meeting to reduce bond holdings at a rapid pace. The White House said Western governments will ban new investment in Russia following evidence its soldiers deliberately killed civilians in Ukraine. The U.S. Treasury said President Vladimir Putin's government will be blocked from paying debts with dollars from American financial institutions, .
Oil prices fell and European stocks rose on Monday as investors weighed positive comments from ceasefire talks between Russia-Ukraine, while US Treasury yields hit two-and-a-half year highs
Spot gold was down 1.1% to $1,973.80 per ounce by 1531 GMT, but remained poised for a weekly rise of about 0.3% as concerns over the course of the Ukraine conflict kept investors on their toes
Gold prices rallied to an over two-month high earlier in the week as heightened tensions over Ukraine and increased market volatility ratcheted up interest in safe-have bullion.
In the wake of Friday's inflation data, fed fund futures fully priced in a quarter-point tightening by July 2022 and another rate increase by December
The dip in the greenback pulled the dollar index to a one-month low in Asian hours