Indian rupee is expected to open lower at around 69.80-69.85 against the dollar after Brent crude oil reached its highest level since mid-December, offsetting a further decline on the dollar index.
Brent was little changed in early Asia trade on Tuesday after rising for the sixth straight day yesterday to close at its highest level in three weeks. The contract is now up more than 14% after having reached two-year lows of $50 a barrel around Christmas. The recovery in U.S. equities since the last week of 2018 and recent weakness in the dollar have contributed to the turnaround in oil prices.
The dollar index slipped for the third day yesterday amid bets that the Federal Reserve is unlikely to raise interest rates this quarter. The index’s 0.5% decline yesterday took it to its lowest level, on a closing basis, since mid-October.
Asian currencies were mostly flat on Tuesday after yesterday’s losses on the dollar index. The Chinese yuan was little changed at 6.8514 to the dollar, a day after the U.S. and China began negotiations to end their trade tussle. Commerce Secretary Wilbur Ross yesterday said in an interview that the two are likely to reach a good settlement over immediate trade issues while agreement on structural trade issues and enforcement will be harder.
Date : Jan-2019
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