Jul 08, 2013, 08.49 AM IST
The dollar has hit a fresh three-year high against a basket of major currencies as market expectations grew that the Fed will scale back stimulus as early as September following solid jobs growth.
A 2 percent fall in China's benchmark index widened losses in the rest of Asia on Monday on worries of tight liquidity conditions and fears of an early rollback of stimulus.
The dollar has hit a fresh three-year high against a basket of major currencies as market expectations grew that the Fed will scale back stimulus as early as September following solid jobs growth. The dollex is firm above 84.
Brent crude price stood at a three-month high above close to USD 108 level. Strong jobs data and signs of renewed geopolitical risk in Egypt supported prices. From precious metals space, gold slipped 3 percent after positive US jobs data sent the dollar rallying and rekindled worries about Fed tapering.
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Agency reports indicate that according to Sesa Goa sources, the company may restart Karnataka iron ore mining by month-end. Karnataka iron ore output is seen at 2.9 mt in 2013.
The department of divestment has asked the Tamil Nadu Government to nominate officials for further talks with Sebi. Remember Tamil Nadu proposed to buy the Neyveli Lignite stake through its state undertakings.
Fresenius Kabi received a warning letter from USFDA for its API plant at Kalyani. The warnings are related to documentation practices and data integrity. In its response the company said, they are making major progress in solving USFDA letter issues and have began process of restarting manufacturing in Kalyani facility.
BGR Energy OFS is finally subscribed 1.72 times and gets bids for 37.4 lakh shares.
US markets rallied 1 percent on strong jobs data and the Dow reclaimed the 15000 level on Friday. The S&P 500 finished above its 50-day moving average of 1626. Nasdaq stood 3,479, up 1.03 percent. For the week, S&P 500 was up 1.6%, Dow up 1.5 percent and Nasdaq up 2.2%.
US economy added 195,000 new non-farm jobs in June which was much higher than anticipated. However, the unemployment rate remains unchanged at 7.6 percent vs consensus estimate of 7.5 percent.
US treasury prices shot above the 2.70 mark which is the highest levels since the 2.86 percent hit on August 1 , 2011 on the back of growing anticipation that the fed may begin tapering its bond buying programme soon.
Markets closed lower on fears of an end to the Federal Reserve's monetary stimulus program.
Clock is ticking for Greece to do a deal with its international creditors to unlock the next tranche of cash. Officials from the Troika and also the Greek government are set to meet later today to thrash out an agreement before European finance ministers meeting on the vote for releasing the aid.
At this point it is not clear what is holding up the approval of the 8.1 billion euro injection, but Greek officials have told news agencies that they are confident the deal can be struck.
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