INDIAN RUPEE :- EQUITY RESEARCH LAB

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The Indian rupee will likely open higher against the dollar on expectations of stronger shares as an uptick in U.S. manufacturing data signaled a recovery in the world’s largest economy, lifting risk appetite - NewsRise

Indian sovereign bonds will likely edge higher, tracking an expected rise in the rupee after the government kept its fiscal deficit target unchanged for the next fiscal year, fuelling hopes that the central bank would soon reduce interest rates. The yield on the benchmark 7.59 pct bond maturing in 2026 is likely to trade in a 7.58 pct-7.64 pct range today - NewsRise

Wall Street enjoyed its strongest session in a month on Tuesday, led by financial and technology stocks after encouraging U.S. factory and construction data suggested the world's biggest economy was regaining momentum.

Asian shares look set to test February highs as signs of recovery in the U.S. manufacturing sector and gains in oil prices eased worries about a global slowdown and pushed U.S. stocks sharply higher.

The yen nursed broad losses early in Asia, having suffered a big reversal overnight as traders in London and New York took a brighter view on the global economy and dumped the safe-haven Japanese currency.

U.S. Treasury yields rose to near two-week highs on Tuesday after data showed U.S. manufacturing activity rebounded in February in a sign of economic resilience that weakened investor demand for safe-haven government debt.

Oil prices dropped in the wake of industry data that showed a huge build in U.S. crude stockpiles.


Gold dipped for a second session as global equities and the dollar rose after strong U.S. manufacturing data that rekindled speculation of a Federal Reserve interest rate hike this year.

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