USD/INR – The Indian rupee opened lower against the dollar ahead of crucial trade talks between the U.S. and China. The rupee opened at 69.88 versus the dollar compared with its previous close of 69.71. Asian equities and currencies extended losses on Thursday before the U.S.-China trade talks. Chinese Vice-Premier Liu He will hold negotiations with U.S. officials on Thursday and Friday in Washington after tensions between the two countries ratcheted higher following President Donald Trump remarks that he plans to increase tariffs on Chinese shipments. The U.S. has accused China of backtracking on previous promises and Trump has said that he is considering taxing all imports out of the Asian nation. Trump said on Twitter yesterday that Beijing had informed Washington that the Chinese Vice-Premier is “coming to the U.S. to make a deal.” He added that if a deal did not materialize, he is “very happy with over $100 Billion a year in tariffs filling U.S. coffers.”
EUR/USD – Against the dollar, the euro was a shade higher at $1.1196, having spent the week stuck in a tight $1.1218-$1.1155 range. EUR/USD remains holed up in the 1.1200 region, shrugging off growing risks that might normally put bears in control. The EU Commission's downgraded outlook , heightened U.S.-Sino trade tensions and 10-year German bund yields trading near -0.05 percent are all factors that should have EUR/USD trading near the 2019 low at a minimum. Bears might be treading cautiously as economic green shoots from the euro zone keep popping up, which could keep the ECB from adding stimulus to the economy as many investors have expected. The U.S. interest rate complex could be limiting the downside as well. If bears don't gain control of EUR/USD soon, odds of an upside move will increase.
19 Jul 2019 05:47 PM
The Indian rupee logged its second weekly drop against the dollar amid foreign fund outflows from local assets and as renewed trade
19 Jul 2019 04:05 PM
Benchmark indices ended at two-month low on July 19 after Finance Minister Nirmala Sitharaman dashed hope of a tweak
19 Jul 2019 03:28 PM
Amid broad-based dollar comeback and mixed economic data, the euro holds the lower ground near 1.1250 region, awaiting fresh catalysts for the next direction.
19 Jul 2019 02:52 PM
The British pound edged lower on Friday after registering its biggest daily jump in more than two months in the previous session as traders focused on the growing risks of Britain crashing out of the European Union without a deal in place by end-Octo
19 Jul 2019 12:30 PM
The U.S. dollar is seen rising steadily against the yen in tandem with the US dollar, as the bulls now look towards the 107.70 resistance area, supported by the New York Fed's clarification on President Williams’ comments.
19 Jul 2019 12:01 PM
Indian shares gave up early gains to trade lower on Friday, with auto and financial stocks taking the brunt of the losses