Four things we learned from FIFA World Cup quarters
Samara (Russia), July 8: The 2018 FIFA World Cup now has its four semi-finalists after a typically thrilling set of quarter-finals. Here are four things we learned as eight contenders for the title were reduced to four, reports Xinhua news agency:
1. Courage can only take you so far: Russia bowed out of the World Cup in a heroic and painful style following a penalty shootout against Croatia. Right now the Russians will be feeling the disappointment of their exit, but they should be proud of a squad of players who performed well above themselves and allowed their supporters to dream. The win against Spain was a minor miracle and fruit of their hard-work, courage and a necessary bit of luck. But if you want to get into the last 4 you need a bit more than that and a talented Croatia deserved to progress.
2. Let's talk about goalkeepers: The World Cup tends to be about strikers: Messi, Ronaldo, Neymar, Lukaku and Harry Kane, but the quarter-finals have been as much about goalkeepers as attackers. Belgium's Thibaut Courtois made a string of brilliant saves to keep Brazil at bay, England's Jordan Pickford made three magnificent stops to keep Sweden out, Hugo Lloris made out a great save against Uruguay for France when the score was still 0-0 and Danijel Subasic was once again an intimidating presence in the penalty shootout as Croatia got past Russia. Keepers win you matches just as much as strikers.
3. Be flexible: Belgium coach Roberto Martinez produced a masterstroke to help his side beat Russia, swapping the 3-4-2-1 he has used for most of the World Cup, for a 4-3-3 against Brazil. The different formation allowed Belgium to stretch Brazil down the flanks, especially the Brazil right and clearly caught Brazil by surprise. Meanwhile Fellaini was a threat in the air that Brazil struggled to deal with. Brazil's excellent coach, Tite, countered Martinez's strategy at halftime, but by then Belgium were 2-0 ahead; too much of a lead for a team that good to surrender.
4. France continue to improve: Didier Deschamps' side didn't look entirely convincing in their first two group games, making hard work of Australia and Peru, but World Cups with a possible 7 games in four weeks are all about evolving and growing as a team in a short span of time. France have done that and a team that looked disjointed in mid-June looks compact, solid and threatening after the first week of July: of course they have a fulcrum called N'golo Kante holding things together for them, allowing Paul Pogba, Griezmann and company to shine.
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Rupee falls 1 paisa to fresh all-time low of 84.32 against US dollar
Mumbai, Nov 7: The rupee slipped 1 paisa to close at a fresh lifetime low of 84.32 against the US dollar on Thursday, as weak domestic equities and sustained foreign fund outflows dented market sentiment.
Forex traders said investors were also cautious ahead of the US Fed meeting outcome. Moreover, overnight gains in crude oil prices also weighed on the local unit.
However, a correction in the dollar index against major currencies helped the rupee and restrained the slide, they added.
At the interbank foreign exchange, the rupee opened at 84.26 against the US dollar. During the session, the local currency touched a high of 84.26 and a low of 84.38. It finally settled at 84.32, a loss of just 1 paisa against its previous close.
On Wednesday, the rupee depreciated 22 paise to close at an all-time low of 84.31 against the US dollar.
The rupee touched fresh record lows again on the back of weak domestic equities and sustained FII outflows. However, the softening of the US Dollar index from Wednesday's highs cushioned the downside, forex traders said.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.22 per cent lower at 104.86.
Brent crude, the global oil benchmark, fell 0.32 per cent to USD 74.68 per barrel in futures trade.
"We expect the rupee to trade with a negative bias on overall strength in the US Dollar on the back of Donald Trump’s victory in the US Presidential elections and FII outflows. However, softening of commodity prices amid easing geopolitical risk premium may support the rupee at lower levels," said Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas.
Any intervention by the RBI may also support the rupee at lower levels. Traders may take cues from weekly unemployment claims data from the US and FOMC meeting decisions. The Bank of England's monetary policy decision is also due.
"With Asian currencies down, US Dollar up, and yields up, the RBI does not have any option but to allow the rupee to fall to ensure that REER remains competitive for our exports.
"If the FOMC is a bit hawkish in its tone or does not cut rates today or says it will not cut in December, then we could see another fall in rupee to the extent of 84.50," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.
BoE and FOMC are expected to cut interest rates by 25 bps. USD/INR spot price is expected to trade in a range of 84.15 to 84.60, Choudhary said.
In the domestic equity market, the 30-share BSE Sensex fell 836.34 points, or 1.04 per cent, to close at 79,541.79 points, while Nifty declined 284.70 points, or 1.16 per cent, to settle at 24,199.35 points.
Foreign institutional investors (FIIs) were net sellers in the capital markets on Thursday, as they offloaded shares worth Rs 4,888.77 crore, according to exchange data.
"Importers need to be covered for any imports to be paid in November and for December should buy any dip near 84. Exporters are likely to book on every uptick of 25 paise after watching the markets," Bhansali said.
