Commodity Market Overview - 26.09.2016
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Asian markets are currently trading lower as investors focus their
attention towards the US Presidential debate between Donald Trump
and Hillary Clinton which is likely to take place tomorrow.
US Dollar Index traded lower by 0.4 percent in the last week as
markets discounted the outcome of Sep’16 FOMC meeting where the
interest rates was left unchanged. The US central bank slowed the
pace of future hikes and cut its longer run interest rate forecast to
2.9 percent from 3 percent, but hinted at the possibility of a rate hike
by the end of this year. The committee also reduced its expectations
for economic growth and unemployment rate this year to 1.8 percent
and 4.7 percent respectively from 2 percent and 4.8 percent.
Moreover, disappointing release of existing home sales data form the
nation yesterday further acted as a negative factor. From 5.38M in
July’16, it decreased to 5.33M in Aug’16. All the above factors dented
the demand for US Dollar which made a weekly low of 94.95 and
closed at 95.39 levels on Friday.
The Indian Rupee appreciated by 0.4 percent in the last week
tracking gains in emerging markets after the US Federal Reserve kept
interest rates unchanged. This kept the domestic markets i.e. Sensex
and Nifty higher. Moreover, fresh dollar selling by exporter sand
banks amid lower DX in the overseas market kept the Indian Rupee
positive.
S&P Global Ratings, on 19th Sep’16, projected India to grow at 8
percent over the next few years as India's structural reform agenda
has maintained strong momentum and will grow higher in future,
with most recently GST passage.
For the month of September 2016, FII inflows in equities totaled at
Rs. 5643.45 crores ($845.10 million) as on 23rd September’16. Year to
date basis, net capital outflows stood at Rs. 46493.18 crores
($6982.25 million) as on 23rd September’16.
Indian Rupee made a weekly high of 66.52 and closed at 66.70 levels
on Friday.
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attention towards the US Presidential debate between Donald Trump
and Hillary Clinton which is likely to take place tomorrow.
US Dollar Index traded lower by 0.4 percent in the last week as
markets discounted the outcome of Sep’16 FOMC meeting where the
interest rates was left unchanged. The US central bank slowed the
pace of future hikes and cut its longer run interest rate forecast to
2.9 percent from 3 percent, but hinted at the possibility of a rate hike
by the end of this year. The committee also reduced its expectations
for economic growth and unemployment rate this year to 1.8 percent
and 4.7 percent respectively from 2 percent and 4.8 percent.
Moreover, disappointing release of existing home sales data form the
nation yesterday further acted as a negative factor. From 5.38M in
July’16, it decreased to 5.33M in Aug’16. All the above factors dented
the demand for US Dollar which made a weekly low of 94.95 and
closed at 95.39 levels on Friday.
The Indian Rupee appreciated by 0.4 percent in the last week
tracking gains in emerging markets after the US Federal Reserve kept
interest rates unchanged. This kept the domestic markets i.e. Sensex
and Nifty higher. Moreover, fresh dollar selling by exporter sand
banks amid lower DX in the overseas market kept the Indian Rupee
positive.
S&P Global Ratings, on 19th Sep’16, projected India to grow at 8
percent over the next few years as India's structural reform agenda
has maintained strong momentum and will grow higher in future,
with most recently GST passage.
For the month of September 2016, FII inflows in equities totaled at
Rs. 5643.45 crores ($845.10 million) as on 23rd September’16. Year to
date basis, net capital outflows stood at Rs. 46493.18 crores
($6982.25 million) as on 23rd September’16.
Indian Rupee made a weekly high of 66.52 and closed at 66.70 levels
on Friday.
