Last week India's RBI increased its REPO interest rate by 25 basis points to 6.25%, first of its kind in past four years, as Inflation crosses above 4.5%, inline with its goal to maintain inflation around 4% in 2018.
Global markets are no behind with lots of things going on in the geo-political landscape this week. G-7 meeting over the weekend left Canada and France at odds with signs of impending taxes on imports to the US, which were slightly un-predicted. China has historically taken the hit on this front (import taxes on imports, Steel in specific) but more Western countries now come under the purview of the US President! The President is aimed at having a historic conversation with Kim Jong Un, the Supreme Leader of North Korea to discuss de-nuclearization of the island. How this will progress is something much awaited by the global markets specifically the US markets as the market opens trading the week.
Global Economic Calendar is packed with High Priority events, with European Central Bank conversations and rate decision during the week (giving hints of further Quantitative Easing - QE to give further boost and stability to the common currency Euro and related trade). The US Central Bank gives its rate call (Dot Plot predictions suggest a rate hike in coming months of 2018) further in the week, with stabilizing US economy aimed towards fueling further growth. Refer the calendar for details of these and more events that will generate tremendous volatility and short to mid-term correction in the markets (Global Stock Indices, Key Currency Pairs and related industries)
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