The rupee lost 16 paise to 54.59 against the dollar at the Interbank Foreign Exchange market due to continued capital outflows and increased demand from importers for the US currency. Besides, dollar’s gains against euro overseas also put pressure on the rupee. Dealers attributed the rupee’s fall to increased capital outflows by foreign funds and a lower opening in the stock market. The rupee had weakened by 17 paise to close at a three-week low of 54.43 a dollar in yesterday’s trade.

Switzerland's trade surplus remained broadly unchanged in February. February's international trade resulted in a surplus of CHF2.1 billion, which was broadly unchanged from the previous month. It had forecast a surplus of CHF2 billion for February. In December, the balance was a surplus of CHF894 million. Merchandise exports increased a working-day adjusted 0.9 percent year-on-year to CHF 16.15 billion in February. The value of imports advanced 3.2 percent from a year earlier to CHF14.05 billion. During the two months ended February, the trade balance was a surplus of CHF4.22 billion.

Indian government bonds held steady on as investors turned cautious ahead of key data later this week but an improvement in the trade deficit in February helped pull yields off the day's highs. February exports rose 4.25% from a year earlier, narrowing the trade deficit, which analysts said could reduce the pressures on the current account deficit. Bond purchases via open market operations were possible given companies must pay advance taxes by March 15, creating a potential drain in liquidity over the next two weeks. The benchmark 10-year bond yield closed steady at 7.84% after moving in a narrow 7.83% to 7.85% range during the session. Total volume on the central bank's electronic trading platform was at a low 160.05 billion rupees ($2.9 billion) compared with the average 300 billion-350 billion rupees. Expectations ahead of the Reserve Bank of India's policy review are likely to drive trading in the near term.

UK Natural gas is currently trading at 68.400 level. Technically, moving averages of 34, 100, and 200 are moving below the price line which are acting as major supports as of now.

Indian shares extended rally, mirroring firm Asian cues after the Dow industrials hit a record high overnight on signs of continuing US economic recovery. The benchmark BSE Sensex is currently up 65 points or 0.34% at 19,208, while the broader Nifty index is at 5800, up 16 points or 0.27% from its previous close.

Activity in India's service sector increased at a notably slower pace in February. The seasonally adjusted purchasing managers' index for the manufacturing sector dropped to 54.2 in February from 57.5 in January. The index stayed above the no-change 50 mark - which separates growth from contraction for the 16th successive month.

Oil prices were mixed in Asia, weighed by a slowdown in China’s manufacturing sector and spending cuts in the United States. New York’s main contract, light sweet crude for delivery in April, dropped six cents to $90.62 a barrel, while Brent North Sea crude for April delivery increased 13 cents to $110.53.

Indian economy is experiencing slower growth. Foodgrains position is comfortable, the Government is committed to enact the Food Security Bill. Inflation is easing gradually, but is still a problem. The Government is concerned over sexual offences against women. It has begun implementing a series of administrative measures to improve safety. The Government is considering a scheme for concessional credit to handloom sector to benefit about 10 lakh weavers.

China, the world's 2^nd largest oil consumer, processed 467.91 million metric tons of crude oil last year, 3.71% more than in the previous year. The output of gasoline grew 10.3% YoY to 89.76 million metric tonnes in 2012, and that of diesel climbed 2.3% YoY to 170.64 million metric tonnes. The apparent consumption of oil products in China was 276.64 million metric tonnes last year, 5.2% more than in 2011. China produced 207.48 million metric tonnes of crude oil last year, reflecting a growth of 1.9% YoY, and it imported 271.09 million metric tonnes of crude oil, 7.3% more than in 2011.

The rupee strengthened to its highest level in near 2 months, breaching the key 54/$ mark, on continued bullishness a day after the government partially deregulated diesel prices.