USD/INR – The Indian rupee opened little changed against the dollar ahead of the India’s interim budget. The fiscal deficit data and the reaction of local equities will be closely watched by currency traders. The rupee opened at 71.10 versus the dollar compared with its previous close of 71.0750. Later today, Minister Piyush Goyal will present the interim budget for the next financial year that begins on April 1, amid expectations of a package for the farm sector before federal elections due by May. Focus for Asian currencies will be on the U.S. jobs data due later today, and the U.S.-China trade talks. President Donald Trump said on Twitter that meetings between U.S. and Chinese officials are going very well and all of the many problems will be hopefully resolved.
EUR/USD – The euro was flat at $1.1445 after having fallen 0.3% in the last session. The single currency has not managed to gain despite broader dollar weakness as growth and inflation in the euro zone remain weaker than expected. Indeed, Jens Weidmann, the Bundesbank president and a member of the European Central Bank Governing Council, painted a bleak picture of the German economy on Thursday, saying the slump in Europe's largest economy will last longer than initially thought. Weidmann also said the euro zone is likely to undershoot its inflation projection this year due to lower oil prices and the ECB should look through this dip and not waste time unnecessarily in normalizing policy.
GBP/USD – Sterling, which is grappling with troubles of its own on uncertainty over a deal to avoid a chaotic British exit from the European Union, was flat at $1.3105. Analysts expect the British pound to remain volatile in the coming weeks. With less than two months to go before Brexit, investors are trying to figure out whether May's Conservative Party rallying around her has increased the chances of her securing concessions from the EU or has pushed Britain toward further deadlock and uncertainty. Foreign minister Jeremy Hunt said that Britain will take a few days to formulate proposals to put to the European Union in an attempt to resolve the issue of Irish border arrangements after Brexit.
USD/JPY - The yen was steady at 108.90 after hitting a two-week high in the previous session, pressured by the Federal Reserve's cautious outlook on the U.S. economy, which suggested that the central bank is near the end of its tightening cycle. In the United States, the Fed's dovish stance in its policy statement on Wednesday after the close of a two-day meeting took the market by surprise even though the Fed has been preaching patience and balance sheet flexibility for some time. Analysts said the statement seemed as if the Fed did a turnaround from its previous generally upbeat economic stance.
Currency Range for today
Important data releases today
|1-Feb-19||2:25 PM||EUR||German Manufacturing PMI (Jan)||49.9||49.9|
|1-Feb-19||3:00 PM||GBP||Manufacturing PMI (Jan)||53.5||54.2|
|1-Feb-19||7:00 PM||USD||Nonfarm payrolls (Jan)||165K||312K|
|1-Feb-19||7:00 PM||USD||Unemployment Rate (Jan)||3.9%||3.9%|
|1-Feb-19||8:30 PM||USD||ISM manufacturing PMI (Jan)||54.2||54.3|
Date : 1-Feb-2019
19 Sep 2019 06:48 PM
The Indian rupee fell against the dollar following an uptick in crude oil prices amid reports that Saudi Arabia had sought crude supply from
19 Sep 2019 01:48 PM
The Indian rupee edged higher against the dollar in choppy afternoon trade, on greenback sales by foreign banks, likely for corporate clients. However, weakness in local shares kept gains under check.
19 Sep 2019 09:22 AM
USD/INR – The Indian rupee opened lower against the dollar after the Federal Reserve cut rates once again but cast doubts on further easing. The rupee opened at 71.35 compared with its previous close of 71.23. Asian currencies were broadly lower on T
18 Sep 2019 05:34 PM
The Indian rupee logged its biggest single-session rise in six months against the dollar, helped by a retreat in crude oil prices following
18 Sep 2019 02:01 PM
The Indian rupee extended gains against the dollar in afternoon trade, on greenback sales by foreign banks and a retreat in crude oil prices.
18 Sep 2019 09:16 AM
USD/INR – The Indian rupee opened higher against the dollar, buoyed by the fall in crude oil prices after Saudi Arabia indicated that the weekend attack on its oilfield won’t have an impact on the nation’s output. The rupee opened at 71.50 compared w