India’s rupee dropped to an eight-week low as U.S. jobs data bolstered the case for the Federal Reserve to trim stimulus. Government bonds advanced.
U.S. payrolls rose 204,000 in October, almost twice as much as economists surveyed by Bloomberg predicted, official data showed Nov. 8. India’s currency was also pressured after the central bank cut direct dollar supplies to oil refiners and before a report tomorrow forecast to show consumer-price inflation accelerated last month.
via Bloomberg
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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