Gold and silver have always remained some of the precious assets to safeguard against inflation
The Indian rupee strengthened to its highest in nearly three weeks on Friday, tracking broad losses in the dollar on easing concerns over the need for continued aggressive Fed rate hikes
Powell cannot afford to take his eyes off the prize - to get inflation down
Markets perceive Fed as being less hawkish
MPC will be guided more by domestic inflation-growth dynamics than US central bank measures, they say
Four-fifths of the Sensex constituents ended with gains. Bajaj Finance rose 10.7 per cent and was the best-performing index stock
The second straight quarterly decline in GDP meets the standard definition of a recession. It comes as the Fed aggressively hikes rates in an attempt to choke off soaring inflation.
MUMBAI (Reuters) -The Indian rupee saw its biggest single-day gain in more than two months on Thursday, tracking strength in most other Asian peers and shares, while bond yields inched lower after comments from U.S. Federal Reserve Chair Jerome Powell.
Spot gold was up 0.6% at $1,743.49 per ounce, as of 0711 GMT, its highest since July 13.
The U.S. Federal Reserve had surprised no one by lifting rates 75 basis points (bps) to 2.25%-2.50% on Wednesday, but did alter its statement to cite some softening in recent data.
Live news updates: Besides Gokhale, the spokesperson of the TMC, others have also filed petitions challenging the tenure extension and the enabling amended law in this regard in the top court.
Fed Chair Powell's comments suggest slower pace of hikes going ahead, say markets
The dollar dropped to a three-week low versus the yen on Thursday after Federal Reserve Chair Jerome Powell assuaged investors' worries about continued aggressive monetary tightening
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Policy makers, facing the hottest price pressures in 40 years, lifted the target range for the federal funds rate on Wednesday to 2.25% to 2.5%
However, gains were capped as investors remained in wait and watch mode
And two titans of the tech industry are giving investors cause for optimism
LONDON (Reuters) -Oil rose by $1 a barrel on Wednesday as a report of lower inventories in the United States and cuts in Russian gas flows to Europe offset concern about weaker demand and a looming U.S. interest rate hike.
Major global stock markets and Wall Street futures advanced on Wednesday as traders prepared for a possible sharp interest rate hike by the Federal Reserve to cool surging inflation. London and Frankfurt opened higher. Tokyo and Sydney gained while Shanghai declined. Oil prices rose. The Fed on Wednesday is expected to announce an increase of up to three-quarters of a percentage point in its benchmark interest rate, triple its usual margin. Investors worry such aggressive action by the Fed and other central banks in Europe and Asia to control inflation that is at multi-decade highs might derail global economic growth. The main risk at this stage is in fact an inflation overkill' with monetary tightening too abrupt, unnecessarily pushing up the unemployment rate, Thomas Costerg of Pictet Wealth Management said in a report. Costerg said most economic indicators and lower commodity prices already point to slower inflation ahead. In early trading, the FTSE 100 in London rose 0.5 per
Rupee weighed down by expectations of an aggressive rate hike by the US Federal Reserve