Market Recap: ICEX Spot Diamond : 28.02.2018

Market Recap: ICEX Spot Diamond : 28.02.2018

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Market Recap: ICEX Spot Diamond 1 CT prices increased on Tuesday and closed at ₹3338 levels up by 0.12 percent. Consequently, the ICEX 1 CT diamond (Mar) futures prices edged higher during Tuesday’s trading session and closed at ₹3287 levels up by 0.27 percent. Moreover, ICEX spot diamond 0.5 CT prices rise on Tuesday and closed at ₹1492 up by 0.27 percent. Similarly, ICEX 0.5 CT diamond (Mar) futures prices moved higher during yesterday’s trading session and closed at ₹1494 levels.
The dollar stood near a three-week high against a basket of currencies on Wednesday, after Federal Reserve Chairman Jerome Powell's upbeat views on the economy bolstered bets on further Fed interest rate hikes this year. Testifying before the U.S. House of Representatives' Financial Services Committee, Powell acknowledged the economy had strengthened recently, a remark that prompted investors to increase bets on four rate increases in 2018. Fed's last round of economic projections in December pointed to three rate increases this year. The dollar index is currently trading at 90.36 levels up by 0.06 percent.
The Indian rupee spot depreciated by 0.04 paise and to close at ₹64.85 levels against the US dollar (USD) on Tuesday trading session. Indian Rupee spot is currently trading at ₹65.085 levels.

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