EUR/USD
1.18098
0.166%
Gold
4805.31
3.147%
Oil
61.720
-0.567%
USD/JPY
155.440
-0.102%
GBP/USD
1.36852
0.125%
GBP/JPY
212.727
0.033%
Real-time News
On February 3rd, DBS Bank senior economist Radhika Rao stated in a report that the Indian market is poised for a rebound following the announcement of the US-India trade agreement. She noted that high tariffs were a major factor dragging down market sentiment over the past quarter, while the agreement is "undoubtedly a significant boon to the real economy and exports," and will also boost financial market sentiment. Rao added that textiles, gems and jewelry, engineered products, leather, and chemical products are expected to be the main beneficiaries. She wrote that considering the punitive tariffs previously imposed for purchasing Russian oil, the reduction from 50% to 18% effectively brings Indias tariff levels close to those of most Southeast Asian countries.According to sources, Republican leaders in the U.S. House of Representatives are planning to vote next week on a key bipartisan housing bill.February 3rd - After more than five months of tariff suppression by Trump, India has finally seen a turning point. However, problems remain. For three decades, India has considered the United States its preferred export destination—not only for labor-intensive industries such as textiles, shrimp, and jewelry, but also for white-collar software services. The Trump administrations double whammy of trade restrictions and work visas for Indian tech workers is shaking this broad relationship. This is not unfounded: New Delhis budget for the next fiscal year, released on Sunday, has markets deeply concerned about the financial costs of resisting pressure from Washington. Take agriculture, for example. Will Modi ease the ban on GMO food imports when the domestic cultivation of GMO crops is prohibited? India adds 10 billion liters (2.6 billion gallons) of ethanol to its gasoline annually, enough to consume most of the corn harvested in the US Midwest. But getting Indian drivers to accept American corn in their fuel tanks is no easy task. It will be difficult to promote the benefits of free trade to local farmers if they dont benefit from it. The opposition is expected to closely scrutinize Modis concessions on agriculture.The Reserve Bank of Australia will release its interest rate decision and monetary policy statement in ten minutes.The U.S. House Rules Committee has advanced the government funding bill, clearing the way for a full vote as early as tomorrow.
