Currency Markets Snapshots For The Week
- INR appreciated last week by 0.35% against the USD and depreciated by 1.58% against the euro.
- USD Index (DXY) fell by 0.99% on a week on week basis and is at a level of 95.15.
- Fed Chair Jerome Powell said that there is no sign of inflation accelerating and no elevated risk of overheating
- Euro climbed to its strongest level in 3 weeks by appreciating 1.06% against the USD
- Brazilian Real depreciated by 4.97% against the USD last week.
Weekly Global Bond Analysis
- Quick resolution of the US-China trade war faded.
- The fed fund futures suggest 96% probability for a 25 bps rate hike in September 2018.
- Greece exited from its bailout program on 20thAugust.
- Moody’s extended the deadline for its review on Italy rating.
- US junk bond yields fell sharply.