US GDP rose 3.2% in Quarter Two, Fed says Sep hike doubtful

[Raam]

GROWTH ON TRACK: US GDP rose 3.2% in Quarter Two, Fed says Sep hike doubtful

QUOTE: Lead me, follow me, or get out of my way

MARKET PULSE Fed NY President. Dudley-"case for raising interest rates in Sep is less compelling " The U.S. economy grew 3.2 % in Q2 , forecast of 2.3 % EUR is moving in the opposite to Stoxx Europe 600 and S&P500 by the most in a decade The euro rose more than 7 % in a basket of 10 currencies in the last three 3M Fed NY President. Dudley-"case for raising interest rates in Sep is less compelling " The U.S. economy grew 3.2 % in Q2 , forecast of 2.3 % The MSCI Asia Pacific Index of stocks rose for a 2nd day, gaining 1.7 % Today: Spain GDP; ECB's Coeure speaks Tsipras's election gamble risks backfiring as Greeks get jaded Greek banks' senior creditors may prove elusive write-down target Gov. Kuroda-Bank of Japan can still achieve its 2% inflation target U.S. data showed crude inventories unexpectedly shrank Crude stockpiles fell by 5.45 million barrels to 450.8 million last week Production slid to the lowest in more than three months. U.S. oil production avg 9.34 m barrels a day through Aug. 21 (May 15 low) INR MARKETS INR rises 0.2% to 66.0013 USD/INR pivot point at 66.1942 USD/INR support at 66.0121, 65.8804, 65.5666; USD/INR resistance at 66.3259, 66.5080, 66.8218 USD/INR 14-day RSI at 69, just below overbought territory 1M implied volatility slips 38 bps to 8.3075%; avg for 12M. is 6.7272% INR 1-month forwards gain 0.3% to 66.38 per USD FACTORS Global investors sold net $298.7m of Indian stocks on Aug.25 India's leading index Sensex was up 1.9% today TD Securities: India remains one of most resilient economies to external shocks FOREIGN EXCHANGE MARKETS USD/JPY +0.15% at 120.10 (range 119.82-120.37) EUR/USD +0.28% at 1.1346 (range 1.1311-1.1353) AUD/USD +0.08% at 0.7128 (range 0.7111-0.7153) USD/CAD -0.14% at 1.3274 (range 1.3266-1.3306) GBP/USD +0.23% at 1.5498 (range 1.5461-1.5509) USD/CHF -0.18% at 0.9531 (range 0.9513-0.9550) U.S. Treasuries gain with 10-year yield down 3 bps at 2.149% FACTORS EUR is moving in the opposite to Stoxx Europe 600 and S&P500 by the most in a decade The euro rose more than 7 % in a basket of 10 currencies in the last three 3M Fed New York President. Dudley-"case for raising interest rates in Sep is less compelling " The U.S. economy grew 3.2 % in Q2 , forecast of 2.3 % The MSCI Asia Pacific Index of stocks rose for a 2nd day, gaining 1.7 % Today: Spain GDP; ECB's Coeure speaks Tsipras's election gamble risks backfiring as Greeks get jaded Greek banks' senior creditors may prove elusive write-down target Gov. Kuroda-Bank of Japan can still achieve its 2% inflation target CRUDE OIL MARKETS Brent Oct gained $1.31, or 3 %, to $44.45 a Brent Oct lost 7 cents to $43.14 on Wed Brent crude traded at a premium of $4.67 to WTI WTI Oct up $1.21 to $39.81 at open All futures traded volume was about 95 % above the 100-day average FACTORS U.S. data showed crude inventories unexpectedly shrank Crude stockpiles fell by 5.45 million barrels to 450.8 million last week Production slid to the lowest in more than three months. U.S. oil production avg 9.34 m barrels a day through Aug. 21 (May 15 low)