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.
16 Oct 2019 05:36 PM
The Indian rupee ended higher against the dollar for the first time in three sessions, on custodian greenback inflows that eroded an early
16 Oct 2019 03:19 PM
Britain's currency weakened further on Wednesday while stocks in London extended their losses, following a report that talks to reach a Brexit deal with the European Union are near to collapse.
16 Oct 2019 11:58 AM
The yen is currently trading near 108.70 to a dollar, representing 0.15% gains on the day. The dollar has come under pressure, possibly due to the Sino-U.S. political friction and the haven demand for the anti-risk Yen.
16 Oct 2019 11:42 AM
Indian equity benchmarks moved higher on Wednesday, as investors looked towards a rise in September-quarter earnings for companies after the government's corporate tax cut, amid a rise in inflation and hopes of further rate cuts from the central bank
16 Oct 2019 11:31 AM
China's yuan fell against the dollar on Wednesday, erasing gains made following progress in Sino-U.S. trade talks and briefly falling past a key threshold, as a much weaker midpoint set by the central bank dented sentiment.
16 Oct 2019 10:57 AM
Gold traded lower on Tuesday as market participants awaited clarity on U.S.-China trade talks and as earnings season starts on a positive note. Gold for