![]() Information on these pages contains forward-looking statements that involve risks and uncertainties. The major catalyst that will hog the limelight is the Labor Cost Index data, which is expected to accelerate by 0.3%, higher than February’s jump of 0.2%. The Unemployment Rate is seen unchanged at 3.6%. Lower Job Openings data and economic slowdown are aiming for weak labor market data on Good Friday.Īs per the expectations, the US economy added 240K jobs in March lower than the former release of 311K. Soaring expectations of softening of the US labor market and economic slowdown due to the maintenance of higher interest rates by the Federal Reserve (Fed) have deepened fears of recession. Going forward, the US Nonfarm Payrolls (NFP) data will remain in the spotlight. The US Dollar Index (DXY) is aiming to extend its gains further above 102.20 amid improved appeal for safe-haven assets. S&P500 futures have extended their losses after two consecutive bearish trading sessions. Meanwhile, geopolitical tensions between the United States and China are keeping risk-sensitive assets on toes. Apart from that, recent jump in oil prices are sufficient enough to impact the economic prospects. RBI Governor Shaktikanta decided to keep rates steady considering the contagion risks from the global banking fiasco. The street was anticipating a 25 basis point (bps) rate hike as India's inflation rate at 6.44% is well-above the desired rate. Out of six Monetary Policy Committee (MPC) members team, five voted for maintaining the status-quo. The USD/INR pair has scaled firmly above 82.00the Reserve Bank of Index (RBI) has kept its repo rate unchanged at 6.5%.
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