Rally in equity continue, rupee stable The world equity markets continued the rally, with all US indices making 52 week highs. The rising crude oil prices on comments from Saudi Arabia to freeze the output has led to crude oil price upwards. This has fueled the risk-on rally in the equity indices with Asian [...]
GST gets green flag from Congress as outcome of the meeting with BJP yesterday. However, market reaction was fairly muted with rupee opening almost flat.
BoJ Easing the monitory policy fell short of market expectations, as key rates and total asset purchase left unchanged. Only ETF purchase target revised to JPY6 trillion from earlier JPY 3.3 trillion.
The FED kept the benchmark interest rates unchanged in line with market expectations and noted “Near-term risks to the economic outlook have diminished”, keeping the room open for September rate hike.
Risk on sentiment dampened ahead of the 2-day FED meeting that begins today, on worries FED can sound more hawkish than dovish in light of strong economic number reported by US in past month.