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Tag: Business Market

  • US Dollar Clings To Gains As Bets On Further Fed Hikes Firm

    US Dollar Clings To Gains As Bets On Further Fed Hikes Firm

    THE Dollar Fought For A Footing In Choppy Trade On Thursday, With Support From Upbeat U.S. Data And Hawkish Policymaker Comments, While The Prospect Of Higher Energy Prices Helped Exporters’ Currencies And Weighed On Those Of Importers. The Dollar Rose 1% On The Euro And 1.3% On Sterling Overnight And Was Trying To Hold Those Gains In Bumpy Early Trade In Asia. The Euro Has Now Made Two UnsuccessfulAattempts To Regain Parity This Week And Last Bought $0.9916. Sterling’s Rebound From Record Lows Has Paused Just Below.





    The U.S. services industry posted another month of expansion in September, data showed overnight, while labour market figures were solid and the trade deficit narrowed. San Francisco Fed President Mary Daly reiterated policymakers’ focus on inflation fighting and dismissed market hopes for rate cuts in 2023. I think that just reminded people that you might be a bit premature in trying to price in rate cuts in the U.S.,” said Westpac currency strategist That pushed up rates and pushed up the U.S. dollar,” he said, as the Federal Reserve’s aggressive moves to rein in inflation sets the pace for central banks around the globe.

    Its One Trade For The Whole World, Said No One Currency’s Interest Rates Are Really Able To GO Off And Do Their Own Thing Independently.

    Bond markets globally sold sharply. Interest rate futures imply more than 130 basis points of tightening ahead for the Fed before the middle of next year The U.S. dollar index wobbled 0.06% lower to 110.86, off lows near 110 from earlier in the week, though some distance below last week’s 20-year high of Sterling last bought $1.1367, while the Australian and New Zealand dollars each rose about 0.4%, taking the Aussie to $0.6518 and the kiwi to.



    The yen, which has been held steady by the risk of further Japanese intervention, sat at 144.57 per dollar.

    The Saudi Arabia-led cartel of oil producers agreed to steep production cuts on Wednesday, lifting Brent crude futures to a three-week high of $93.99 a barre Higher energy prices would have a much more direct impact on the European region given the more direct relationship to their finances,” said NatWest Markets’ strategist Jan Nevruzi Later on Thursday the European Central Bank releases minutes from last month’s policy meeting. Traders are also awaiting Friday’s U.S. labour market data to gauge how fast and far the Fed might be willing to lift interest rates.

  • Govt hikes DA By 4% Under 7th Pay Commission; Details Here

    Govt hikes DA By 4% Under 7th Pay Commission; Details Here

    The Union Cabinet has hiked the  Dearness Allowance (DA) of central government employees and pensioners by 4 percent under the 7th Pay Commission The hike takes DA to 38 percent from the current 34 percent of basic pay/pension. The Finance Ministry said that the central government employees and pensioners will become entitled to a higher amount of Dearness Allowance (DA) and Dearness Relief (DR), respectively.

    Financial News



    Speaking at a press conference in New Delhi, the Union Minister added that the hike in salary and pension will benefit over 50 lakh government employees and about 62 lakh pensioners ahead of the festive season.  Meanwhile, Finance took to Twitter to add that the combined impact on the exchequer on account of both DA and DR (Dearness Relief) would be R s 12852.5 crore per annum.

     release additional instalment of Dearness Allowance (DA) to central govt employees & Dearness Relief (DR) to pensioners w.e.f.

    Further, the combined impart on the exchequer on account of both DA and DR will be Rs.8,568.36 crore in the financial year 2022-23 (i.e. for a period of 8 months from July, 2022 to Februar The Union Cabinet had in March approved to increase 3 per cent in dearness allowance (DA) under the 7th Pay Commission, thus taking the DA to 34 per cent of the basic income.



    Dearness Allowance (DA) is the cost-of-living adjustment allowance which the government pays to the employees of the public sector as well as pensioners of the same revised the formula to calculate the DA and DR for central government employees and pensioners Dearness Allowance Percentage  ((Average of All-India Consumer Price Index (Base Year 2001=100) for the past 12 months -115.76)/115.76)x100.For Central public sector employees: Dearness Allowance Percentage = ((Average of All-India Consumer Price Index (Base Year 2001=100) for the past 3 months.