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We can see some USD strength at the start of this European morning coming back into the market which has been expected based on the latest intraday price action. We were looking for a three wave move down on USD/CHF with our members, and so far we can see that pair found a bottom nicely around 0.9190 from where we can see some encouraging upside reaction. Looks like we could be heading back to 0.9290, and possibly 0.9330 this week.

Spa Francorchamps, Aug 26 : British racing driver Lewis Hamilton expects the Mercedes team to be more competitive in the Asian leg of the Formula 1 season starting in Singapore Sep 22.

German driver Sebastian Vettel took the lead from Lewis Hamilton on the opening lap of the Belgian Grand Prix at Spa-Francorchamps Sunday and the Briton went on to finish third.

“I got everything that I could out of the car today but we just weren't as quick as Sebastian and Fernando (Alonso of Spain),” said Hamilton after the 44-lap race.

New Delhi, Aug 26 : ONGC Videsh Ltd (OVL), the foreign arm of state-run Oil and Natural Gas Corp, Monday said it will buy US firm Anadarko Petroleum Corp's 10 percent stake in the Rovuma Basin gas field in Mozambique for $2.64 billion.

"OVL has signed definitive agreements on August 24 with Anadarko Mozambique Area 1 Limitada (Anadarko) to acquire a direct 10 percent participating interest in the Rovuma Area 1 Offshore Block in Mozambique for USD 2.64 billion," a company statement said.

World's biggest biotechnology company, Amgen has indicated that it is planning to acquire Onyx Pharmaceuticals in a deal valued at around $10.4 billion.

The cash deal will allow Amgen to gain access to the company's three anticancer treatments. Under the deal, Amgen has agreed to offer $125 a share in cash through an offer for Onyx's shares and the transaction is expected to close at the beginning of the fourth quarter. The company said that the deal is still subject to the approvals from the regulators.

A Delta Air Lines flight had to make an emergency landing at the Montgomery Regional Airport on Sunday afternoon after the pilots noticed smoke and fumes in the cockpit of the plane.

The Delta Flight 534 from Cancun, Mexico to Atlanta landed at the airport in the afternoon yesterday and no injuries were recorded. A total of 184 passengers and six crew members got off the plane and were checked by the emergency services. The airline said that Flight 534 was scheduled to leave Cancun at 12:37 p. m. local time.

Indian Stock Market opened positive on Monday and BSE Sensex was trading with a gain of 100 points at 18620 during afternoon session. The stock markets were higher as majority of blue-chip stocks were trading positive. NSE Nifty was up by 20 points.

C Rangarajan, Chairman PMEAC has expressed positive sentiment about financing of the current account deficit. Rangarajan expects the CAD to decrease to $70 billion. He added that the decline in gold imports will help the CAD numbers.