Economic update _8th October 2012

1. USA unempoloyment rate has come down to four years low to 7.8% from previopus Months figure of 8.1%
2. Dollar Index continued to remain below 80 level
3. In Euro Zone - Finance Minister meeting , German chancellor visit to Greece and Spain formal request for bail out are important development . Euro stay at 1.30 level
4. IMF lowered India 2013 Growth target to 6% from its earlier expectation of 6.6%
5. Gold is trading at USD 1770 and Brent Crude at USD112
6. The India IIP data is expected this week and Inflation data earlier next week
7. INR has appreciated substantially in the last 10 days but may face some resistence at this level
8. China HSBC  September service PMI  has increased to 54.3 from 52 in August 2012