Currency Markets Snapshots For The Week
- Indian Rupee traded below Rs 72 per USD for the first time since 21st September, as oil prices posted sharp falls last week.
- Indian Rupee appreciated by 0.79% against the USD last week and appreciated by 1.01% against the euro.
- USD Index (DXY) fell by 0.45% on a week on week basis and is at a level of 96.47.
- British Pound depreciated by 1.06% against the USD last week.
- Brexit uncertainty continued, as UK Brexit Minister Dominic Raab resigned on Thursday.
Weekly Global Bond Analysis
- Fed Vice Chair Richard Clarida said that the central bank is getting closer to reaching its neutral level, potentially setting the stage for fewer rate hikes than expected next year.
- ECB President Mario Draghi said, ECB still plans to dial back stimulus at the end of the year, but inflation may rise more slowly than earlier expected.
- Preliminary estimates suggests that the German economy shrank in the September quarter.
- Italy re-submitted its 2019 budget to the European Commission with unchanged growth and budget deficit assumptions.
- US & Euro junk bond yields rose sharply.