SVB collapse likely to force Fed to go slow on rate hikes, say analysts
The failure of SVB was due to idiosyncratic reasons, but shows how higher rates can expose fault lines in unforeseen places
January US job openings dip, but still high at 10.8 million
Easing concerns around Fed hike, rise in Adani Group shares boost sentiment
The minutes, released on Wednesday, said that the members believe "ongoing" rate hikes will be necessary
Brent crude futures were down $2.37, or 2.8%, to $82.77 a barrel by 1145 GMT, while West Texas Intermediate (WTI) U.S. crude fell $2.07, or 2.6%, to $76.42.
The increase was the largest since July 2021 and mostly reflected a jump in vacancies in accommodation and food services
US stocks ended higher as investors heaved a sigh of relief after Powell refrained in a speech from commenting on rate policy but said the Fed's independence was essential for it to battle inflation
On December 15, after the US inflation of 7.1 per cent for November was announced, Bitcoin touched its five-week high of $18,400
Presently, the BSE Sensex and Nifty 50 have breached their respecitve 21-SMAs, the following support levels need to be honoured in order to sustain a positive bias.
CLOSING BELL: The 30-pack index had dropped over 900 points intra-day to hit a low of 61,715.61, while the 50-pack index hit a low of 18,388
Markets feel that US central bank's aggressive rate hike cycle may be nearing an end
The subdued price moves followed a rally in stocks and a sharp drop in the U.S. dollar in the previous session when the consumer prices data showed a slowdown in inflation
After raising interest rates by 75 basis points at four successive meetings, the US central bank is widely expected to deliver a 50 bp increase later in the day
The domestic unit settled at 82.54 to the dollar on Monday, from 82.28 at previous close. So far in 2022, the Indian currency has shed 9.9% against the greenback
MUMBAI (Reuters) - The Indian rupee and government bond yields are likely to take cues from the outcome of the U.S. Federal Reserve's monetary policy meeting on Dec. 14, one of a host of high-profile, potentially market-moving economic events in the week.
They're also likely to signal another 50 basis points of tightening next year, according to economists, and an expectation that once they reach that peak, they'll stay on hold through all of 2023
The trading activity in the domestic equity market this week will be largely driven by a host of macroeconomic data announcements and the US Fed interest rate decision, analysts said. Industrial Production data and retail inflation rate are scheduled to be announced on Monday. Besides, wholesale inflation data will be released on Wednesday. "This week is going to be crucial in terms of global cues, where the US inflation numbers and the outcome of US Fed policy decision will be the most important events for the market. "On the domestic front, our industrial production and retail inflation numbers will be announced on December 12, while wholesale inflation numbers will be announced on December 14," said Santosh Meena, Head of Research, Swastika Investmart Ltd. Apart from this, news flows from China, the movement of crude oil prices and the dollar index will be other important factors. Institutional flows also need to be watched, as FIIs have been net sellers for the past week, Meena
The Indian rupee rose on Friday, but gains were capped due to dollar demand amid a slump in the greenback
So far in 2022, the Fed has hiked rates by a total of 375 bps, leading to a stronger dollar and diminishing the appeal of emerging market assets