Australia's S&P ASX 200 index surged to 5191.20 its highest closing level since June 30, 2008 as the big banks jumped after an upbeat earnings report that having more weight on index.
The Indian Rupee has always been one of the more volatile currencies but has been in news around the globe as it has been hitting new historical lows for the past few months and is on the cusp of breaking the recent records as well.
Japan‘s Nikkei 225 Stock Average gained 1.9 percent as yen slumped sharply today to test 7-month low on prospect of unlimited easing from BoJ and is the only index which has closed on positive note among global indices.
Jamal Mecklai, CEO, Mecklai Financial Services explains to CNBC-TV18 that the current situation, including the Prime Minister's assurance of addressing the problems in the economy, offered the best opportunity to buy dollars.
As seen in the above graph barring the IIP numbers for March 2012 in which it printed a contraction of 3.5%, in all the remaining months whenever we have seen the core industries data releasing in the positive territory, the following IIP data have always released positive.
Mecklai Graph of the Day - Bleeding PIIGS indices
Mecklai has come out with its report on forward premium plunging down.
This article has been sourced from Mecklai Financial. You can visit their website www.mecklai.com for futher information. Japan Earthquake- The Economic Impact.