India: Economy grew 4.5% in Q3 vs. 4.7% expected
The data published by the Ministry of Statistics on Friday revealed that the Gross Domestic Product (GDP) in India expanded by 4.5% in the quarter ending September following the %5 growth recorded in the second quarter and fell short of the market expectation of 4.7%.
Further details of the report showed that the manufacturing sector and the farming sector grew by 1% and 2.1%, respectively, in the same period. Read more...
USD/INR Technical Analysis: Eases from weekly tops, up little around 71.60 region
The USD/INR cross built on the previous session's recovery move from near three-week lows and gained some follow-through traction on the last trading day of the week.
Bulls, however, failed to capitalize on the early uptick to fresh weekly tops, albeit the pair has still managed to hold with modest daily gains post-Indian GDP growth figures.
The intraday positive momentum faltered near a resistance marked by the top end of a descending trend-channel, extending through the recent swing high near the 72.35-40 region. Read more...
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India GDP growth: a six-and-a-half-year low – ANZ
Analysts at Australia and New Zealand Banking Group (ANZ) offered their take on Friday's release of Indian GDP report, which showed a further decelerating in growth to a six-and-a-half-year low level of 4.5% during the July-September quarter.
Key Quotes:
“At 4.5%, India’s Q2 FY20 GDP print was the lowest in 26 quarters. It also marked the sixth consecutive quarter of moderation.” Read more...
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