Daily Digest Market Movers: Indian Rupee remains vulnerable to higher bond yields and a rise in oil prices
- The government raised its growth forecast for the fiscal year 2024 to 7.6% from 7.3%.
- India's GDP expanded at 8.4% in the final three months of 2023, the strongest in 18 months, boosted by robust manufacturing and construction activities.
- US ADP private sector employment rose 140K in February from 111K in January, below the market expectation of 150K.
- January JOLTS job openings dropped to 8.863M versus 9.026M prior, below the consensus of 8.900M.
- The Federal Reserve (Fed) Chair Jerome Powell said on Wednesday that interest rate cuts are likely at some point in 2024, but is not yet ready to say when.
- Powell noted that the central bank thinks it’s not appropriate to cut the rate until they have confidence that inflation is moving sustainably toward 2%.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
If you like, reward to support.
Hot
No comment on record. Start new comment.