Currency Markets Snapshots For The Week
- INR appreciated last week by 0.28% against the USD and by 0.51% against the euro.
- USD Index (DXY), rose by 0.20% on a week on week basis and is at a level of 94.67.
- US jobless claims at 5 decade lows
- European Central Bank President Mario Draghi reiterated that interest rates will remain on hold until summer of 2019.
- Euro depreciated by 0.57% against the USD last week.
Weekly Global Bond Analysis
- US GDP grew at 4.1% in Q2-2018, its best pace since 2014.
- GDP reading will enable the Federal Reserve to stay on track with its current pace of rate hikes.
- ECB keeps policy unchanged, sees QE ending this year.
- There is speculation that Bank of Japan could scale back its stimulus programme.
- Junk bond yields fell sharply.