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.
17 Jun 2019 01:05 PM
The Bank of Japan is expected to maintain its massive stimulus programme on Thursday and signal its readiness to ramp up monetary support if growing risks such as the escalating U.S.-China trade war threaten the economy's modest expansion.
17 Jun 2019 11:55 AM
Nifty, sensex fell on Monday, dented by losses across sectors, after the country slapped higher tariffs on certain U.S. products in retaliation to Washington's decision to remove certain trade privileges for New Delhi.
17 Jun 2019 11:37 AM
China's yuan was little changed on Monday as the central bank kept its morning guidance rate largely steady, reminding the market of its tight grip on the currency to curb downward pressure.
17 Jun 2019 10:53 AM
The Indian rupee traded at two-week low against the U.S. currency, as the dollar strengthened in the wake of buoyant U.S. retail sales data. An uptick in oil prices further weighed on demand for the local unit.
17 Jun 2019 10:33 AM
Gold prices steadied on Monday after retreating from a 14-month peak in the previous session, as the dollar strengthened on the back of strong U.S. retail sales report, while investors await U.S. Federal Reserve meeting this week.
17 Jun 2019 09:58 AM
Oil prices rose on Monday after U.S. Secretary of State Mike Pompeo said Washington will take all actions necessary to guarantee safe navigation in the Middle East, as tensions mounted following attacks on tankers last week.