The Indian rupee is expected to open marginally higher against the dollar after regional equities recovered from recent losses, helping alleviate concerns over the biggest increase in Brent crude in three weeks. The rupee is expected to open around 70.32-70.37 in early trades versus the dollar compared with its previous close of 70.4350.
A day after suffering the biggest decline in four months, the S&P 500 Index and the Dow Jones Industrial Average added 0.8% on Tuesday. The rebound in risk appetite spread to Asia, with benchmark indexes of China, Hong Kong, and South Korea advancing up to 0.8%.
The recovery was likely based on expectations that the U.S. and China would resolve their trade conflict. The likelihood of an agreement received a boost yesterday after President Donald Trump reportedly said that talks with China had not broken down and he has a “very good” dialogue ongoing with China. A report added that Trump called the trade conflict with China “a little squabble” on account of the U.S. being treated unfairly by China for “many, many decades.”
Earlier in the day, Trump said on Twitter that the U.S. will make a deal “when the time is right” and once again touted his excellent relationship with Chinese President Xi Jinping.
20 Sep 2019 09:24 AM
The dollar nursed losses against most major currencies on Friday, as central banks in Switzerland and the UK refrained from following the Federal Reserve in
20 Sep 2019 08:47 AM
The Indian rupee is expected to open little changed against the dollar as investors focus on choppy crude oil prices and the Chinese yuan. The rupee likely to
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The Indian rupee fell against the dollar following an uptick in crude oil prices amid reports that Saudi Arabia had sought crude supply from
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The Bank of England said Brexit uncertainty was causing slack to re-emerge in Britain's economy and damaging productivity, and a failure to reach a transition deal by Oct. 31 could lead to further weakness.
19 Sep 2019 04:18 PM
Indian equity indices closed over 1% lower on Thursday, with financial and metal stocks falling the most, as markets remained wary of government's measures to revive slowing economic growth.
19 Sep 2019 04:10 PM
The euro is trading $1.1065, up from the lows it fell to on Wednesday after the Fed cut rates but signaled no new moves are imminent. Markets are digesting the decision and eyeing several US figures.