Currency Markets Snapshots For The Week
- Indian Rupee appreciated last week despite full blown trade war worries and OPEC members increasing output less than expected.
- Diverging monetary policy outlook between the U.S. and Europe will continue to support USD.
- Federal Reserve Chairman Jerome Powell reiterated that the case for gradual rate hikes remains strong.
- USD Index (DXY), fell by 0.28% on a week on week basis and is at a level of 94.52.
Weekly Global Bond Analysis
- Trade war fear escalated once again.
- Major central banks expressed alarm over the growing trade tension in the world.
- Italian government appointed two eurosceptics to head key finance committees.
- Brazil central bank kept its interest rate unchanged at 6.50%.