Globally, Oil prices rose to their highest level in 10 months on Friday, after China cut banks' cash reserve requirements to boost its economic recovery, and on expectations that major global interest rate hike cycles were nearing their end.Brent crude rose 46 cents, or 0.5%, to $94.16, while the U.S. WTI was up 0.6% at $90.74. Both the benchmarks were trading at their highest levels since November.China's industrial output and retail sales grew at a faster-than-expected pace in August, but property investment slumped further and could drag on broader demand even as the recent flurry of support policies showed signs of stabilising the economy.China's central bank rolled over maturing medium-term policy loans while keeping the interest rate on them unchanged on Friday, boosting liquidity after a similar move the previous day. The European Central Bank has hiked interest rates to a record high as policymakers look to address elevated inflation in the eurozone despite signals that the region's economy is weakening.U.S. stocks were rising after stronger than expected retail sales pointed to a resilient economy even as inflation data came in hotter than expected.For a second day in a row, gold came close to testing the $1,900 support. And once again, it managed to stay above that fray as buyers turned up to rescue the yellow metal from the cusp of $1,800 territory. Indian Rupee is likely to get pressure after the dollar index surged overnight and Yields gained.
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