India’s economy succumbs to economic slump as its potential remains locked

The declining rupee will add to inflationary pressures which has been a thorn in the side of the Indian government for some time. This could clearly lead to implications on GDP growth which has recently seen a slight decline indicating that the world economic slump is now seeping into the Indian economy...

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Latest trading commentaries...

Has Greece earnt its next tranche of aid?
Richard Driver, CaxtonFX
Finland gave the euro some support to the euro yesterday by voting in favour of a reform of the eurozone bailout fund. Germany will be voting on this matter today, and whilst it is expected to be passed through, this remains just one of several potential stumbling blocks to progress on resolving the debt issue.

Sterling’s sort-term advance on the US dollar expected to be tested today
Mark Bolsom, Travelex
Sterling’s short-term advance on the US dollar is expected to be tested today as investors again gear up for an up-to-date snapshot of the euro zone crisis. Finland yesterday approved changes to the European Financial Stability Facility which were agreed to in principle last July.

Tobin tax poses even greater threat to economic recovery of the member states than anything else
Simon Denham, Capital Spreads
The banks got us all into this mess so I know what we’ll do; we’ll slap a tax on every single financial transaction. That’ll teach them to trade risky products and threaten the global economy with collapse again in the future.

If you’re going to be two-faced, at least make one of them pretty
Mark Deans, Moneycorp
News emerged today that a world record has been set by ‘Frank and Louie’ as the longest surviving two-faced cat. Known as a ‘Janus cat’ – named after the two-faced Roman god of transitions, gates and doorways – the animal, who celebrated his twelfth birthday this month, has two faces with two mouths, two noses and three eyes.

Sentiment lurches from despair to euphoria
Mark O'Sullivan, Currencies Direct
The huge gains in stock markets around the world yesterday were not mirrored in by corresponding moves in the currency markets, which saw only modest gains for Sterling against the Dollar and Euro.