Indian rupee is expected to open marginally higher at around 68.60-68.65 against the dollar after the biggest decline in Brent crude in two weeks overshadowed a surge in dollar index on upbeat U.S. economic data.
Most Asian currencies slipped Wednesday after the dollar index climbed 0.5% following buoyant U.S. economic data. Retail sales in June grew 0.4% month-on-month, significantly better than the 0.1% increase expected by economists poll. Control retail sales too trumped estimates, growing 0.7%, more than double of what was expected.
In May, the U.S. increased tariffs on $200 billion of Chinese imports amid a breakdown in talks. U.S. officials have repeatedly accused China of walking back on promises already agreed upon, leading to the failure of talks. Asian equities declined Wednesday amid falling investor confidence over U.S.-China trade relations.
13 Jul 2020 04:57 PM
Indian shares ended higher on Monday, led by a rally in Reliance Industries, ahead of June's inflation data which investors bet would lead to further interest rate cuts by the central bank.
13 Jul 2020 02:43 PM
The Indian rupee was little changed against the greenback, amid focus on decline in the dollar index
13 Jul 2020 11:45 AM
Indian shares climbed on Monday, as investors bet June inflation data later in the day would lead to further interest rate cuts by the country's central bank, while Reliance Industries gained for a third session.
13 Jul 2020 11:15 AM
The yuan hovered around the key 7 per dollar threshold on Monday, ahead of economic data this week
13 Jul 2020 10:45 AM
Gold prices rose on Monday, holding ground above the key $1,800/oz level, as a weaker dollar and worries over surging COVID-19 cases around the globe kept the safe-haven metal underpinned.
13 Jul 2020 10:31 AM
The Indian rupee was at 75.1275/75.1375 to the dollar against 75.2000/75.2100 in the previous session