USD/INR – The Indian rupee opened little changed against the dollar after Brent crude suffered the biggest decline in a month, offsetting the expected month-end dollar demand and tepid risk appetite. The rupee opened at 71.14 versus its previous close of 71.10. The Brent crude oil dropped by almost 3% yesterday to close below $60 per barrel for the first time in two weeks. The selloff came amid an increase in U.S. crude drilling, which pointed to further increase in supplies at a time when there are worries of an economic slowdown. Apart from India’s interim budget on Friday, traders this week will eye the Federal Reserve policy outcome and trade talks between the U.S. and China. The two-day Fed meeting begins later today and high-level trade talks are scheduled for Wednesday and Thursday.
EUR/USD – The euro was a bit weaker at $1.1430, but not far off its highest level in more than a week. Traders believe recent weak economic readings on Germany and France, and the European Central Bank's dovish stance, are already priced into the euro. European Central Bank policymaker Pablo Hernandez de Cos said on Monday that the central bank might need to look into whether downside risks to growth it had so far deemed temporary were becoming more persistent. ECB President Mario Draghi warned last week that the growth dip could be bigger and longer than previously feared but stuck to his previous view that the slowdown was temporary and not the beginning of a recession.
GBP/USD – Sterling was slightly down at $1.3150, pulling back from 3-month highs. Later on Tuesday, lawmakers will debate and vote on British Prime Minister Theresa May's next steps, after the overwhelming rejection of her Brexit plan earlier this month, and have been proposing amendments seeking to shape the future direction of Brexit. Analysts expect sterling to remain volatile. Britain is set to leave the European Union on March 29, but the country’s members of parliament remain far from agreeing a divorce deal.
USD/JPY - The safe-haven yen firmed on Tuesday after the U.S. Justice Department charged China's Huawei Technologies Co Ltd with fraud, ratcheting up U.S.-Sino trade tensions and prompting investors to ditch risky assets. The United States on Monday charged China's Huawei Technologies Co Ltd, its chief financial officer and two affiliates with bank and wire fraud to violate sanctions against Iran in a case that has escalated tensions with Beijing. The yen, a currency sought out during times of market uncertainty or economic stress, advanced a little on the greenback to 109.20.
Currency Range for today
Important data releases today
|29-Jan-19||8:30 PM||USD||CB Consumer Confidence (Jan)||124.7||128.1|
Date : 29-Jan-2019
17 Sep 2019 05:38 PM
The Indian rupee fell to a near two-week low against the dollar as oil prices remained elevated amid an increase in geopolitical tensions in
17 Sep 2019 01:33 PM
The Indian rupee stayed lower against the dollar in afternoon trade on greenback demand from oil and other importers and weakness in regional currencies.
17 Sep 2019 09:35 AM
USD/INR – The Indian rupee opened lower against the dollar, tracking losses in regional currencies ahead of the two-day Federal Reserve meeting. The rupee opened at 71.82 compared with its previous close of 71.5925. Asian currencies were trading lowe
16 Sep 2019 05:55 PM
The Indian rupee logged its worst single-session fall in two weeks against the dollar following a surge in crude oil prices due to an attack
16 Sep 2019 01:35 PM
The Indian rupee remained lower in the afternoon session, tracking an uptick in the crude oil prices following an attack on a major oil facility in Saudi Arabia and weak local shares.
16 Sep 2019 09:18 AM
USD/INR – The Indian rupee opened lower against the dollar after crude oil prices soared following an attack on a major facility in Saudi Arabia, which cut oil production of the Middle East nation by half. The rupee opened at 71.62 compared with its