Fed Hike

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

As dollar index breaches key technical levels, outlook on rupee improves

In the 12 months through September, the CPI increased 8.2% after rising 8.3% in August.

The underlying trend for the benchmark indices continues to be bullish given that the Sensex and the Nifty50 indices honor 59,000 and 17,700 levels, respectively

The report also showed that layoffs dropped in August, despite hefty interest rate increases from the Fed to quell inflation, which have raised the risk of a recession

The Dow Jones Industrial Average fell 0.86%, to 33,706.15, the S&P 500 lost 1.29%, to 4,228.37, and the Nasdaq Composite dropped about 2%, to 12,705.22

Euro nursed losses on Wednesday after its sharpest drop in two weeks, as a cut in Russian gas supply sent energy prices soaring, while the dollar held ground ahead of an expected Fed hike.

FTSE futures edged up 0.15%. U.S. markets are likely to open lower, with E-mini futures for the S&P 500 index down 0.32%

Interest-rate futures contracts currently imply a roughly one-in-six chance that the Fed will hike rates by a full point this month, with a 75 basis-point hike regarded as certain

The rupee declined 19 paise to close at 79.13 (provisional) against the US dollar on Thursday, as the hawkish stance of the US Federal Reserve increased the possibility of another aggressive rate hike this month. At the interbank foreign exchange market, the local currency opened at 79.05 and finally ended at 79.13, down 19 paise over its previous close. On Wednesday, the rupee closed at 78.94. "Rupee opened on a flat note but started to come under pressure despite measures announced by the RBI," said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services. The RBI on Wednesday raised overseas borrowing limits for companies and liberalised norms for foreign investments in government bonds as it announced a slew of measures to boost foreign exchange inflows in efforts to curb the fall of the rupee. The central bank had also said it has been closely and continuously monitoring the liquidity conditions in the forex market and has stepped in as needed in all its ...

We may need to be prepared for greater volatility in asset markets and no Fed riding to the rescue to save markets

A higher inflation number could have increased fears of more aggressive interest rate hikes by the US Federal Reserve