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.
21 May 2019 12:46 PM
Bank of Japan Governor Haruhiko Kuroda on Tuesday warned that escalating U.S.-China trade tensions could hurt business sentiment and inflict widespread damage on the economy.
21 May 2019 12:39 PM
Australia’s central bank would consider cutting interest rates next month to support the economy, Governor Philip Lowe said on Tuesday as he urged the country’s newly re-elected government to do its part by slashing income taxes and boosting spending
21 May 2019 11:55 AM
Oil prices dipped on Tuesday on concerns that a prolonged trade war between Washington and Beijing could lead to a global economic slowdown. But the losses were checked by escalating U.S.-Iran tensions and amid expectations that producer club OPEC wi
21 May 2019 11:11 AM
Nifty, Sensex rose to all-time highs on Tuesday, extending a four-day rally after exit polls on Sunday showed Prime Minister Narendra Modi was set to retain power with an even bigger mandate than in 2014. The NSE index was up 0.02%, after hitting a
21 May 2019 10:51 AM
China's yuan firmed against the dollar on Tuesday, as sentiment improved slightly after Washington temporarily eased restrictions on Huawei, while a firmer-than-expected official midpoint discouraged bets against the renminbi. The U.S. government on
21 May 2019 10:20 AM
The Indian rupee was little changed against the dollar in early trade, as investors remained on sidelines ahead of the Federal Reserve’s minutes due tomorrow and federal election outcome at home due later this week. The rupee changed hands at 69.74