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.
10 Dec 2019 06:24 PM
The Indian rupee gained for a fifth consecutive session and hit a five-week high against the dollar, driven by corporate and carry trade-related inflows. The rupee settled at 70.92 to the dollar in Mumbai, its highest since Nov. 5, against its previo
10 Dec 2019 03:53 PM
Indian shares ended lower on Tuesday, weighed down by information technology and state-owned bank stocks, as investors took profits in overbought shares toward the year end.
10 Dec 2019 03:22 PM
The euro was little changed versus the dollar on Tuesday as investors were wary of a looming deadline for U.S. tariffs on China, the British election and upcoming Federal Reserve and European Central Bank meetings. The greenback was neutral against a
10 Dec 2019 02:53 PM
Sterling edged higher on Tuesday, cementing recent gains as traders awaited data on economic growth and industrial production and kept an eye on the final days of campaigning ahead of Britain's general election on Thursday. The pound on Monday hit a
10 Dec 2019 12:03 PM
Indian shares inched lower on Tuesday, led by losses in information technology stocks, as investors locked in profits in overbought shares towards the year end. The NSE Nifty 50 index was down 0.14% at 11,920.95 and the benchmark BSE Sensex fell 0.1
10 Dec 2019 11:28 AM
The evolution of the U.S.-China trade war and the direction of global growth momentum remain the primary factors affecting the CNY (onshore yuan). The onshore yuan was trading flat at 7.0380 at midday, having stuck within a tight range of 54 pips in