Wall Street closed marginally higher on wednesday as the US Dollar slipped from one month highs against other major global currencies. The Fed’s plan to buy U.S. bonds in a bid to push interest rates down to spur spending and bank lending has had the dollar weakening against other currencies, making U.S. exports less expensive to holders of other currencies.
Asian markets are trading in the green with Nikkei leading the way on weaker Yen. Australia's unemployment rate unexpectedly rises to 5.4%, a little above estimates.
October car sales surge
October sales increased 38% to 182,992 vehicles from 132,615 a year earlier, according to data issued Wednesday by the SIAM (Society of Indian Automobile Manufacturers), an industry lobby group. October was the fifth-straight month of record car sales, outpacing the previous high of 169,082 sales in September.
In other news IT giant Infosys Technologies Ltd , India's second-largest outsourcing firm, said on Wednesday it was looking for acquisitions in Japan.
Nifty - News highs a teaser
Markets are finding it tough to spike from the last three trading sessions. We believe the cheap dollars will continue to flow into Dalal Street and it is just a matter of time we see new highs. A strong Realty and Infrastructure stock rally is round the corner. Place your bets here.
Expect Indian markets to trade positively today and volatility might die down