The rupee settled at 70.72 against 71.22 at the previous close. The
local unit moved in 70.72 -71.26 per dollar band intra-day.
Indian government bond prices fell for a second consecutive month,
as geo-political and supply concerns weighed on investor appetite,
despite a turn in the monetary policy cycle. The larger-than-expected
supply was the main trigger to drag bond prices lower this month. As
the focus shifted towards India-Pakistan geo-political tensions, yields
hardened further and fear of a war continues to lurk. U.S., China and
other major nations have called on the nuclear-armed neighbors to
The dollar held above a three-week low on Thursday as investors
remained cautious amid uncertainty over the progress in U.S.-China
trade talks, while sterling rallied on bets that the chance of a no-deal
Brexit was shrinking.
The yuan was little changed on Thursday in Asia following the
release of weaker-than-expected Chinese PMI data. This month’s
manufacturing PMI came in at 49.2, down from 49.5 in January,
official data showed. The February reading was expected to
unchanged from last month. A reading below 50 means the
manufacturing sector contracted, while a PMI above 50 represents
an expansion when compared with the previous month.
Oil prices fell on Thursday, as U.S.-China trade tensions persisted, the
Chinese economy showed signs of slowing and record U.S.
production undermined OPEC-led output curbs.
Gold rebounded on Thursday from a near two-week low touched in
the previous session as the dollar retreated, keeping bullion on track
for a fifth straight monthly gain, while investors awaited economic
data from the United States and clarity on its trade talks with China.
Global Markets at one Glance
Markets at 5.00pm
Key Events of the Day
GDP Quarterly (YoY) (Q3)
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