Wall Street indices are at record highs. The market is reacting positively to strong earnings reports and anticipated trade agreements. A US-European Union trade deal is expected. Spartan Capital Securities’ Peter Cardillo believes the rally has legs. He suggests the India-UK FTA could set a 15% tariff norm. Cardillo is optimistic about India reaching a trade deal soon.
Rupee touches one-week high; RBI plans to ease dollar bids
The rupee hit a one-week high as expectations of RBI measures to curb oil refiners’ dollar demand boosted sentiment and eased pressure on the currency.