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 Aug 2019 05:42 PM
The Indian rupee fell for a sixth week against the dollar, its biggest losing streak since May last year, as trade tensions and global growth
16 Aug 2019 03:41 PM
The yen hit session lows versus the dollar near 106.50 levels, as the recovery in the risk sentiment gathered steam, as reflected by the extension of the relief rally in the Treasury yields and S&P 500 futures.
16 Aug 2019 03:37 PM
The pound gained for a second consecutive day on Friday after a stream of resilient economic data this week calmed sentiment on the health of the UK economy and as opposition parties launched plans to block a no-deal Brexit.
16 Aug 2019 03:33 PM
The euro fell to a two-week low on Friday against the dollar, which extended the gains it made the day before after U.S. retail sales data came out better than expected .
16 Aug 2019 02:57 PM
Indian equity indices slipped on Friday as the local markets caught up with a broader selloff in the previous day after fears of a recession in the United States stoked worries about global growth.
16 Aug 2019 02:18 PM
China's yuan eased on Friday, pressured by a stronger dollar and trade worries after Beijing pledged to retaliate for the latest U.S. tariffs. The dollar firmed