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Indian rupee strengthened against the US dollar in early trade on Friday tracking firm domestic equities after data showed the US economy grew faster than expected in second quarter, while investors are awaiting the US personal consumption expenditures (PCE) data which could confirm early interest rate cut expectations. However, some gains were limited by foreign fund outflows from capital markets following the government's decision to hike the tax rate on capital gains. Foreign Instituti...
Rupee strengthens against US dollar on Friday
The yen was poised for its strongest week in nearly three months on Friday as traders unwound their long-held bets against the frail currency ahead of crucial U.S. inflation data that could cement rate cut expectations. The yen has dominated the currency markets this month, surging to a near three-month high of 151.945 per dollar on Thursday after starting the month languishing at 38-year lows of 161.96 per dollar. The large move follows suspected interventions from Tokyo in early July ...
Yen heads for strongest week in 3 months as carry trades unwind
Indian rupee strengthened marginally against the US dollar on Thursday ahead of the Federal Reserve meeting with rising bets of rate cut in September. Meanwhile, weakness of the American currency in the overseas market and fall in crude oil prices have also supported rupee sentiments. However, some gains were limited by weak equities and significant foreign fund outflows from the capital markets after the government's decision to hike the tax rate on capital gains. Foreign Institutional I...
Rupee strengthens against US dollar on Thursday
The yen rose to its strongest level against the dollar in 2-1/2 months on Thursday and scaled multi-month highs against other currencies ahead of next week's Bank of Japan (BOJ) meeting, as yen carry trades unwound and risk appetite soured. The dollar, euro, sterling and other major currencies slumped more than 1% against the yen by the mid-morning in Asia, before paring some of those losses. Analysts attributed the yen's surge to the abandoning of short yen bets in the run up to t...
Yen rises sharply as carry trades unwind, risk mood sours
Commodity currencies touched multi-week lows on Wednesday tracking weakness in Chinese demand, while the yen has surged as short-sellers bail out ahead of a central bank meeting. Purchasing managers' index figures will be particularly watched in Europe later in the session to see whether they support bets on two European rate cuts by the end of January. The euro held at $1.0848 in Asia trade and sterling, which could rally if PMIs in Britain surprise to the upside and reduce bets on...
Dollar firms as commodities slide and carry unwinds
Indian rupee strengthened against the US dollar in early trade on Tuesday, ahead of Finance Minister Nirmala Sitharaman's Union Budget presentation, that could provide further cues on fiscal deficit, capital expenditure, tax revenue and GST among others. Moreover, foreign fund inflows, and weaker American currency have also supported the rupee. Foreign Institutional Investors were net buyers in the capital markets on Monday as they purchased shares worth Rs 3,444.06 crore, exchange data s...
Rupee strengthens against US dollar on Tuesday
The Australian and New Zealand dollars struggled to regain their footing on Tuesday after China's move to cut several key interest rates, while the yen rose ahead of Bank of Japan's (BOJ) policy meeting at the end of the month. China on Monday surprised markets by cutting major short and long-term interest rates in its first such broad move since last August, signalling intent to boost growth in the world's second-largest economy. The two Antipodean currencies, often used as...
Aussie, kiwi dollars struggle on China's rate cuts; yen gains
Indian rupee strengthened against the US dollar in early trade on Monday, as the American currency retreated from its elevated level on news that US President Joe Biden has endorsed his vice president Kamala Harris to become the Democratic nominee in the November election after he announced he would step aside from the race. Moreover, foreign fund inflows and possible intervention by the Reserve Bank of India have also supported the Indian currency at lower levels. Foreign Institutional Inves...
Rupee strengthens against US dollar in early trade on Monday
The dollar eased slightly on Monday as investors gauged the implications of U.S. President Joe Biden's decision to end his re-election campaign and clear the way for another Democrat to challenge Donald Trump. China's yuan weakened after the central bank's surprise decision to cut a key interest rate. The China-sensitive Australian dollar also fell, reversing an earlier advance. The U.S. currency slipped 0.03% to 157.435 yen, while the euro gained 0.07% to $1.0891 and sterli...
Dollar eases as Biden ends re-election bid; yuan weakens after rate cut
Indian rupee strengthened marginally against the US dollar on Friday, tracking sustained foreign fund inflows and fall in crude oil prices. Foreign Institutional Investors were net buyers in the capital markets on Thursday as they purchased shares worth Rs 5,483.63 crore, exchange data showed. However, some gains were limited by strength of the American currency overseas and, dollar demand from foreign investors and oil companies. The Reserve Bank of India stated that it is looking to lower i...
Rupee strengthens against US dollar on Friday
The Indian rupee may drop to a lifetime low on Friday, pressured by renewed weakness in Asian peers and expectations that dollar payments will persist. Non-deliverable forwards indicate the rupee will open at 83.67-83.68 to the U.S. dollar, inching past the all-time low of 83.6650 hit in June and slightly weaker than 83.65 in the previous session. The currency has largely struggled in recent days amid dollar demand for defence and oil payments, according to traders. Weakness has been pe...
All-time low possible amid dollar payments, decline in Asian peers
The dollar rose in jittery trading on Friday, as a worldwide cyber outage that hit banks, airlines and broadcasters unsettled investors, although volatility in the currency market remained contained. Signs of disruption in one of the world's busiest financial centres emerged as London trade got underway. LSEG Group, which runs the London Stock Exchange, suffered an outage that affected user access to some of its products. By around midday in Europe, the company said its services had be...
Dollar set for weekly gain, cyber outage unnerves investors
The Indian rupee was nearly unchanged on Thursday as dollar demand from local oil companies offset positive cues from a decline in U.S. bond yields and on broad weakness in the dollar. The rupee was at 83.5925 against the U.S. dollar as of 10:45 a.m. IST compared with its close of 83.5825 on Tuesday. Indian financial markets were closed on Wednesday for a local holiday. The dollar index was up 0.1% after falling to its lowest in four months on Wednesday, pressured by growing hopes of Fe...
Rupee flat; dollar bids from oil firms cap gains amid US bond yield dip
Indian rupee weakened against the US dollar on Thursday due to profit-taking in domestic equities and elevated crude oil prices. Moreover, marginal gains in American currency at overseas markets also weighed on rupee sentiments. However, some losses were limited by foreign fund inflows with data showed Foreign Institutional Investors purchased shares worth Rs 1,271.45 crore on Tuesday, and media reports showed that the Asian Development Bank on Wednesday maintained its GDP growth forecast for...
Rupee weakens against US dollar on Thursday
The dollar was broadly weaker on Wednesday after a modest but short-lived boost following better-than-expected U.S. retail sales data, as traders focused on the prospect of Federal Reserve rate cuts as early as September. The New Zealand dollar rose as data showed domestically driven inflation remained high in the second quarter, even as the headline figure missed expectations. The kiwi gained 0.35% to $0.6071, though futures showed markets are sticking to bets of about three rate cuts ...
Dollar eases with Fed rate cuts back in view
Indian rupee strengthened against the US dollar in early trade on Tuesday, followed by firm domestic equities and foreign fund inflows. Foreign Institutional Investors were net buyers in the capital markets on Monday, as they purchased shares worth Rs 2,684.78 crore, exchange data showed. India's merchandise exports in June increased 2.56% to $35.2 billion, even as the trade deficit widened to $20.98 billion during the month, data showed. Rupee improved further as Federal Reserve Chair Je...
Rupee strengthens against US dollar on Tuesday
The dollar hung around five-week lows on Tuesday as comments from Federal Reserve Chair Jerome Powell bolstered the case for a rate cut in September, while cryptocurrenices gained on rising odds of former President Donald Trump getting reelected. Powell said on Monday the three U.S. inflation readings over the second quarter of this year "add somewhat to confidence" that the pace of price increases is returning to the Fed's target in a sustainable fashion. "We've ...
Dollar drifts as Powell comments bring September rate cut in focus
Asian shares fell on Tuesday as investors pondered the prospect of a Trump victory and what that would mean for China, while the dollar climbed for a second day even though dovish Fed comments fuelled bets of more U.S. rate cuts this year. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.5%, having eased 0.3% on Monday. Japan returned from a public holiday, with the Nikkei index up 0.4%. Overnight, investors continued to digest the fallout from the attempted assassi...
Asian shares fall as China drags, dollar in demand
Indian rupee weakened against the US dollar in early trade on Monday, tracking the strength of the American currency at overseas market after the attempted assassination of presidential candidate Donald Trump reinforced bets that his chances of winning the election have increased. Moreover, firm trend in domestic equities, hopes of rate cut by Federal Reserve and foreign fund inflows have restricted the fall. Foreign Institutional Investors were net buyers in the capital markets on Friday, as...
Rupee weakens against US dollar on Monday
U.S. Treasuries slipped and the dollar firmed on Monday as investors wagered the attack on U.S. presidential candidate Donald Trump made his victory more likely, while injecting a whole new level of political uncertainty into markets. A holiday in Japan made for thin trading in Asia and action was confined to a modest rise in the dollar, gains for bitcoin and selling U.S. bonds. Benchmark 10-year Treasury yields were up almost five basis points in early London trade. Investors have tend...
Treasuries slip, dollar firm as markets grapple with US politics
The Indian rupee is likely to open marginally higher on Monday, shrugging off the decline in Asian peers amid higher odds of Donald Trump winning the November election. Non-deliverable forwards indicate the rupee will open at 83.50-83.52 to the U.S. dollar from 83.5350 in the previous session. Asian currencies were down between 0.1% to 0.6%, with the offshore yuan slipping to 7.28 to the dollar. Expectations of Trump reclaiming the White House have risen following an assassination attem...
Rupee likely to inch up despite weakness in Asian peers
Indian rupee was trading flat against the US dollar in early trade on Friday tracking muted American currency at overseas markets. Firm domestic equities and hopes of interest rate cut by the US Federal Reserve by September after softer-than-expected US consumer price index inflation data, have supported the rupee. Meanwhile, firm crude oil prices and foreign fund outflows have put pressure on the local unit. Foreign institutional investors were net sellers in the capital markets on Thursday ...
Rupee trades flat against US dollar in early trade on Friday
The yen swung between losses and gains on Friday in volatile trade, reflecting investors' skittishness after Tokyo was thought to have intervened to prop up the Japanese currency in the wake of a cooler-than-expected U.S. inflation report. Moves in the yen against the dollar and other major currencies stole the spotlight on Friday, though in the broader market, Asian stocks cheered the growing bets for a September rate cut from the Federal Reserve. The dollar was last 0.05% lower at...
Yen choppy amid intervention nerves; Asia shares eye weekly gain
Oil prices rose on Friday amid signs of easing inflationary pressures in the United States, the world's biggest oil consumer, with Brent crude peaking above $86 though it was still set for a weekly decline. Brent crude futures rose 72 cents, or 0.8%, to $86.12 a barrel by 0819 GMT. U.S. West Texas Intermediate crude futures climbed 85 cents, or 1%, to $83.47 a barrel. Both contracts gained in the prior two sessions. Brent futures were set to fall about 1% week-on-week following four...
Oil rises as US inflation eases
Indian rupee weakened against the US dollar on Thursday amid elevated crude oil prices weighed on investor sentiments. Traders ignored the report that labour ministry said retail inflation for industrial workers eased to 3.86 per cent in May compared to 4.42 per cent in the same month a year ago. Besides, State Bank of India (SBI) report showed that between FY14 and FY23, India generated 125 million jobs, which is 4.3 times more than the preceding decadal period of FY04-FY14. The partially...
Rupee weakens against US dollar on Thursday
The dollar fell a touch on Thursday although moves were largely subdued ahead of a U.S. inflation report due later in the day, while sterling firmed on receding expectations for an August rate cut from the Bank of England (BoE). The British pound rose to a one-month high of $1.28545 in early Asia trade, extending a 0.48% gain from the previous session after comments from BoE policymakers caused markets to scale back bets for an easing cycle to begin next month. BoE Chief Economist Huw P...
Dollar adrift ahead of US inflation test; sterling firms
The Indian rupee is poised to open marginally higher on Thursday, in the wake of an uptick on Asian peers before data that may be key to the Federal Reserve cutting or holding rates at its September meeting. Non-deliverable forwards indicate the rupee will open at 83.48-83.50 to the U.S. dollar compared with 83.52 in the previous session. Asian currencies rose 0.1% to 0.4% and the dollar index held below the 105 handle. The offshore Chinese yuan was quoting at 7.2870 to the dollar, havi...
Rupee to inch up before US inflation print, tracking Asian peers
The Indian rupee ended marginally lower on Wednesday due to slight pressure from importers' dollar bids, but was stuck in a narrow range for most of the session amid mostly quiet price action in its Asian peers. The rupee closed at 83.52 against the U.S. dollar, slightly weaker than its close of 83.4850 in the previous session. The currency hovered between 83.4825 and 83.5225 during the day's session. Dollar bids from importers, including local oil companies, and foreign bank...
Rupee ends tad lower after hovering in narrow band; forward premiums slip
The dollar traded near three-week lows on Wednesday as a cautious tone from Federal Reserve Chair Jerome Powell kept risk sentiment in check, while the New Zealand dollar fell after the country's central bank signaled it saw potential for rate cuts. In the first day of his testimony to Congress overnight, Powell said a rate cut is not appropriate until the Fed gains "greater confidence" that inflation is headed toward the 2% target, setting the stage for Thursday's consum...
Dollar dithers on Powell caution; kiwi droops after RBNZ rate hint
The dollar was on the front foot on Wednesday, having rebounded from a three-week low, after Federal Reserve Chair Jerome Powell struck a cautious tone on how soon U.S. interest rate cuts would come. The New Zealand dollar weakened after the central bank expressed confidence that inflation would return to its target band this year, spurring bets for early policy easing. In the first day of his testimony to Congress overnight, Powell said a rate cut is not appropriate until the Fed gains...
Dollar firms on Powell caution; kiwi eases after dovish cenbank
Indian rupee strengthened marginally against the US dollar on Tuesday on account of muted dollar in the overseas markets. Meanwhile, foreign fund inflows, firm domestic equities and easing crude oil prices have also supported the rupee. Foreign institutional investors were net buyers in the capital markets on Monday, as they purchased shares worth Rs 60.98 crore, exchange data showed. But investors are cautiously awaiting US CPI data to be released on Thursday, which is key to gauge on Federa...
Rupee strengthens against US dollar on Tuesday
The U.S. dollar edged higher on Tuesday from its lowest levels in almost a month versus major peers in the previous session, as traders awaited testimony from Federal Reserve Chair Jerome Powell days after an unexpectedly soft U.S. jobs report. The euro held its ground after Monday's sharp swings as investors came to terms with a hung parliament in France, which points to a potential political gridlock, but lessens fiscal concerns stemming from outright far-right or leftist victories. ...
Dollar inches up ahead of Powell testimony; euro steady after French vote
Indian rupee strengthened against the US dollar in early trade on Monday, as crude oil prices retreated from their elevated levels amid the prospect of a ceasefire deal in Gaza eased geopolitical tension in the Middle East. Moreover, foreign fund inflows and hopes of interest rate cuts by the Federal Reserve later this year also aided rupee sentiments. Foreign Institutional Investors were net buyers in the capital markets on Friday, as they purchased shares worth Rs 1,241.33 crore, exchange d...
Rupee strengthens against US dollar on Monday
Asian stocks inched higher on Monday as investors grew more confident about a September U.S. rate cut, while the euro grappled with political uncertainty as French elections pointed to a hung parliament. In France, a leftist alliance unexpectedly took top spot ahead of the far right, a major upset that was set to prevent Marine Le Pen's National Rally (RN) from running the government. The loss of the far right was something of a relief for investors, though they also have concerns t...
Asia shares firm, euro dogged by French political deadlock
Indian rupee strengthened against the US dollar in early trade on Friday, due to retreat in American currency and as signs of slowing US economy heightened the expectations that the US Fed will cut interest rates sometime soon. Meanwhile, investors are awaiting US nonfarm payrolls data to gauge the trajectory of the Federal Reserve's potential interest rate cuts. Moreover, significant foreign fund inflows also supported rupee sentiments. Foreign Institutional Investors were net buyers in ...
Rupee strengthens against US dollar in early trade on Friday
The U.S. dollar was hovering near three-week lows on Friday ahead of payrolls data that will likely influence the outlook for rates, while the pound was firm as the Labour party looked set to win a massive majority in the UK general election. Sterling was last at $1.27575, little changed in early trading and not far off a three-week high of $1.27765 touched on Wednesday. It is up 0.9% for the week, its best weekly performance since mid-May and remains the strongest-performing major curr...
Dollar at three-week lows; pound takes UK election in stride
Indian rupee weakened against the US dollar on Thursday, driven by elevated crude oil prices. However, foreign fund inflows into capital market, firm domestic equities, weakness in American currency overseas and US Federal Reserve's rate cut expectations, have limited further falls in rupee. Foreign Institutional Investors were net buyers in the capital markets on Wednesday, as they purchased shares worth Rs 5,483.63 crore, exchange data showed. Meanwhile investors are now awaiting minute...
Rupee weakens against US dollar on Thursday
Asia stocks hit 27-month highs on Thursday as softer U.S. data narrowed the odds on a September rate cut there, boosting bonds and commodities while dragging on the dollar. A holiday in the United States made for thin trading, as investors waited to see just how large a majority the Labour Party might get in the UK election. Markets are well prepared for a change given opinion polls have for months put the centre-left party on course for a landslide victory over the Conservatives. &q...
Asia stocks hit 27-month top, dollar slips on rate cut talk
Indian rupee weakened against the US dollar in early trade on Wednesday tracking firm American currency at overseas markets, while dollar demand from oil importers and foreign portfolio investors dragged down rupee. Moreover, elevated crude oil prices and foreign fund outflows have also dampened sentiments. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Tuesday, as they offloaded shares worth Rs 2,000.12 crore, exchange data showed. However, some losses were...
Rupee weakens against US dollar on Wednesday
The dollar remained on the back foot on Wednesday after dovish comments from Federal Reserve Chair Jerome Powell sent U.S. bond yields lower, overshadowing a strong domestic jobs report. The euro held firm, helped by a stubbornly high local inflation reading on Tuesday. Sterling was steady ahead of Thursday's U.K. election. However, the yen continued to languish close to a 38-year low versus the dollar, amid the increased possibility of a second Donald Trump presidency, which could ...
Dollar on the defensive amid lower yields, yen hovers near 38-year trough
Indian Rupee weakened against the US dollar on Tuesday amidst elevated crude oil prices, while investors are cautiously awaiting more cues on the US interest rates due this week. The minutes of the Fed’s June meeting are due on Wednesday, Key US nonfarm payrolls data for June is due on Friday, and Fed Chair Jerome Powell is set to speak at a European Central Bank conference on Tuesday. Moreover, dollar demand from oil importers and foreign portfolio investors and foreign fund outflows h...
Rupee weakens against US dollar on Tuesday
The U.S. dollar hovered near an almost 38-year high to the yen on Tuesday following a surge in Treasury yields as investors contemplated the potential for a second Donald Trump presidency. The euro remained firm as rival French political parties joined forces to try and prevent the far-right National Rally (RN) from taking power. Equities were broadly mixed in Asia, while crude oil edged higher following a strong rally in the previous session. Later in the day, U.S. Federal Reserve C...
Dollar soars near 38-year yen peak as Trump risk lifts US yields
Indian rupee weakened against the US dollar in early trade on Monday tracking rising crude oil prices and foreign fun outflows in the capital market. Foreign Institutional Investors were net sellers in the capital markets on Friday, as they offloaded shares worth Rs 23.09 crore, exchange data showed. However, some losses were limited by firm domestic equities and softening American currency after data showed inflation subsided, that reinforced expectations of Federal Reserve interest rate cut...
Rupee weakens against US dollar on Monday
Indian rupee weakened against the US dollar in early trade on Friday ahead of the crucial US inflation reading this evening that could provide further clues on the interest rate cut timeline this year. Moreover, strength of the American currency at overseas market and elevated crude oil prices have also weighed on the local currency. However, firm domestic equities and foreign fund inflows have limited further weakness in rupee. Foreign Institutional Investors were net buyers in the capital m...
Rupee weakens against US dollar on Friday
The Reserve Bank of India (RBI), with the approval of the Government of India, has introduced a revised Framework on Currency Swap Arrangement for SAARC (South Asian Association for Regional Cooperation) countries, covering the period from 2024 to 2027. A currency swap between two countries is an agreement or contract to exchange currencies with predetermined terms and conditions. The SAARC Currency Swap Facility originally began on November 15, 2012. Its primary goal was to offer financia...
RBI extends currency swap with SAARC countries till 2027
The dollar was headed for a second straight quarterly gain and jumped to a near four-decade high on the battered yen in Asia trade on Friday, ahead of a crucial U.S. inflation reading. Neither an overnight drop in U.S. yields nor data showing solid consumer price gains in Tokyo could arrest the downward slide in Japan's currency, which sank to its weakest since 1986 at 161.155 per dollar. For the quarter it is down 6% on the dollar and for the year so far it has lost 12% - the large...
Dollar barges past 161 yen and eyes quarterly rise
Indian rupee strengthened against the US dollar in early trade on Thursday, tracking firm domestic equities and weakness in American currency overseas. Rupee rose further as crude oil prices retreated from their elevated levels. Moreover, continued RBI intervention has also helped prevent significant rupee depreciation. However, Foreign fund outflows restricted the up-move. Foreign Institutional Investors were net sellers in the capital markets on Wednesday, as they offloaded shares worth Rs ...
Rupee strengthens against US dollar on Thursday
Gold prices steadied on Thursday after falling to a two-week low in the previous session, while investors awaited U.S. inflation data for insights into how soon the Federal Reserve will cut interest rates. Spot gold unchanged at $2,299.55 per ounce, as of 0255 GMT. Bullion fell to its lowest since June 10 on Wednesday. U.S. gold futures fell 0.1% to $2,310.20. The dollar hovered near a eight-week high, making bullion more expensive for other currency holders, while benchmark 10-year ...
Gold prices lingers near two-week low as traders eye US inflation data
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