Equity

The dollar index is seen steadying around 100.54 on Friday, driven by safe haven demand amid ongoing tensions in Middle East although softer-than-expected US inflation is reducing expectations of near-term Federal Reserve rate hikes. The counter is however on track for a weekly dip of around 0.22%. As per reports, the US military carried out a sixth consecutive night of air strikes against Iran on Thursday and also struck an empty oil tanker headed for Kharg Island as part of its renewed naval blockade on Iranian ports. Meanwhile, Iran carried out attacks on US military facilities across the region, raising fears of a return to all-out war and keeping the geopolitical risk premium in play. Re-escalation of Middle East crisis is pushing oil prices higher and deepening inflation worries and reinforcing expectations of elevated US interest rates. The developments surrounding Middle East conflicts are overshadowing recent optimism over easing inflation.

Powered by Capital Market - Live News