The US with its strong dollar, rising oil prices and steady U.S. Treasury yields is holding on to recent gains. It however, put pressure on emerging markets on Monday, with their currencies dipping low and stocks dim.
\nMSCI\u2019s index for developing-world currencies reported losses. The dollar rose after stronger-than-expected U.S. jobs and manufacturing reports on Friday. The recent news of the dovish outlook from the Federal Reserve still the dollar low.<\/p>\n
MSCI\u2019s index for emerging market stocks was down 0.2 percent. Losses were felt in South Africa and India .China and South Korea were shut for the Lunar New Year holiday while Hong Kong shares rose on a half-trading day.
\nIndia\u2019s rupee fell to an eight-week low as oil prices rose to 2019 highs because of OPEC-led supply cuts and U.S. sanctions against Venezuela.<\/p>\n
Indian interest rates were supposed to be left unchanged. As predicted by economists, interest rates would start rising next quarter. However, that changed after Governor Urjit Patel\u2019s sudden resignation from the Reserve Bank of India. He was soon replaced by Shaktikanta Das.<\/p>\n
It was reported that it would be the first RBI meeting under Das, who was a former government official. It was speculated that it would ease out any political pressure.<\/p>\n","protected":false},"excerpt":{"rendered":"
The US with its strong dollar, rising oil prices and steady U.S. Treasury yields is holding on to recent gains. It however, put pressure on emerging markets on Monday, with their currencies dipping low and stocks dim. MSCI\u2019s index for developing-world currencies reported losses. The dollar rose after stronger-than-expected U.S. jobs and manufacturing reports on […]<\/p>\n","protected":false},"author":1,"featured_media":3965,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[31],"tags":[223,2984,3346,239],"class_list":["post-3964","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-dollar","tag-emerging-markets","tag-msci-index","tag-rbi"],"aioseo_notices":[],"yoast_head":"\n