Currency Markets Snapshots For The Week
- Indian Rupee fell last week against the USD but held above record lows
- INR depreciated last week by 0.19% against the USD and appreciated by 0.91% against the euro.
- USD Index (DXY) rose by 0.67% on a week on week basis and is at a level of 96.36.
- USD came under pressure on Friday after market downplayed strong third-quarter U.S. economic growth
- European Central Bank made no changes to its monetary policy, as expected.
Weekly Global Bond Analysis
- US new home sales drop for the 4th consecutive month, new home sales dropped 5.5% in September
- ECB kept its policy rate unchanged but plans to end its bond purchase program by December 2018
- Eurozone PMI Composite hit fresh 25-month lows
- EU rejects Italy budget plan as deficit figure was too high for Italy, as total government debt equals 131% of G.D.P
- South Africa Finance Minister Tito Mboweni gave a pessimistic statement on Government finances.
- Bank Indonesia kept its policy rate unchanged