USD/INR – Rupee opened higher at 70.7750 after India’s consumer inflation eases to 18-month low - well below RBI’s target of 4%. Rupee fell against the dollar in morning trade on importers’ dollar bids and with investors’ diminishing risk appetite before bouncing back broadly due to dollar’s decline against major currencies and regional peers. However, rupee again fell to one-month low of 71.1075 on importers’ bids in the afternoon trade. India’s trade balance data is awaited later today.
EUR/USD – Euro traded marginally lower against the dollar at $1.1460. Data released yesterday showed Euro zone industrial output fell in November by more than expected. This confirms the series of weak national data, raising concerns about the bloc’s growth in the final quarter of the year. Two out of three German companies favor ECB rate hike, as per a survey, despite a clouded growth outlook. Euro zone trade balance data for November is set to release today. Daily pivot first support is at 1.1400.
GBP/USD – Sterling rose to $1.2915 as it braced up for a showdown in Parliament today over the government’s Brexit plan. Pound was last trading at $1.2875. Yesterday, May urged lawmakers to take a second look at her deal ahead of a vote that looks set to reject the agreement. There seems to be a wide range of outcomes, from a disorderly exit from the EU to Brexit reversal. Daily pivot first support is at 1.2800.
USD/JPY - The yen weakened against the greenback to trade at 108.65. USD/JPY is higher on Nikkei and US bond yields bounce. The yen has been gaining versus the dollar in past weeks on safe-haven buying on concerns of global economic slowdown and U.S. government shutdown. USD/JPY is expected to stay within a range of 107.90 – 108.82 today.
Important data releases today
|14-Jan-19||5:30 PM||INR||CPI (YoY)||2.19%||2.20%||2.33%|
|15-Jan-19||3:30 PM||EUR||Trade Balance (Nov)||-||13.7B||14.0B|
|15-Jan-19||6:15 PM||INR||Trade Balance||-||-||16.67B|
19 Aug 2019 05:33 PM
The Indian rupee fell to an over six-month low against the dollar on likely custodian outflows and as local shares retreated, erasing most
19 Aug 2019 01:53 PM
The Indian rupee turned lower against the dollar in afternoon session as foreign banks stepped up greenback purchases, likely for custodian clients.
19 Aug 2019 09:08 AM
USD/INR – The Indian rupee opened little changed against the dollar amid improved risk appetite and potential foreign fund outflows from local assets. The rupee opened at 71.17 compared with its previous close of 71.15. While U.S. equities ending las
16 Aug 2019 05:34 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 09:14 AM
USD/INR – The Indian rupee opened lower against the dollar as growth worries prompted by an inversion of the U.S. yield curve hurt demand for emerging market assets. The rupee, resuming trade after yesterday’s holiday, opened at 71.36 compared to its
14 Aug 2019 05:41 PM
The Indian rupee rose for the first time in three sessions against the dollar, as investors’ appetite for risk assets improved after U.S.