The rupee’s recent gains may prove to be fleeting because of pressure from India’s persistent current-account gap and the central bank building up its foreign-exchange reserves.
Chancellor Olaf Scholz is hoping his trip to Latin America this weekend will help Germany secure additional supplies of the lithium that car giants like Mercedes-Benz Group AG and Volkswagen AG need for their electric-vehicle batteries.
Asian shares are poised to rise Monday, with mainland China markets to reopen on the cusp of a bull market and traders betting that the Federal Reserve will slow the pace of rate hikes later this week.
A suspected Russian surface-to-air missile slammed into a residential building in Kharkiv, causing a fire and casualties, the city’s mayor said. Ukrainian President Volodymyr Zelenskiy urged allies to provide long-range missiles and his defense minister made a plea for aircraft.
Oil climbed on optimism that China’s reemergence from Covid Zero will aid demand, with traders looking for fresh clues on the outlook as the nation’s financial markets reopen after the week-long Lunar New Year break.
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