The dollar index barely moved against a basket of currencies on Thursday - ICICI Direct
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Rupee Outlook and Strategy
• Rupee future maturing on October 27 appreciated by 0.42% in Thursday’s trading session due to a pullback in the dollar index and crude prices along with positive domestic equities
• The dollar index barely moved against a basket of currencies on Thursday, as investors awaited the release of US labour market data that could provide clues to the timing of the Federal Reserve's next move as it looks to normalise policy
• The number of Americans filing new claims for jobless benefits fell last week but layoffs increased from a 24-year low in September in part as hospitals fired unvaccinated staff and lack of workers forced closures of facilities
• The rupee is expected to depreciate from current levels as expectations of a positive US jobs report is likely to support the dollar in the near term
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