USD/INR – The Indian rupee opened lower against the dollar after U.S. employers added more jobs in January than expected and manufacturing activity in the world’s largest economy rebounded. The rupee opened at 71.60 versus the dollar at opening compared with its previous close of 71.24. Long-term U.S. yields rose by the most on Friday after data showed that the U.S. economy created 304,000 jobs in January. Average earnings rose by 3.2% on-year and the unemployment rate ticked higher to 4%. The headline number of 304,000, the highest in almost a year, was much better than the 165,000 reading expected. U.S. yields were further supported by the manufacturing data. The U.S. ISM manufacturing index climbed to 56.6 in January from 54.3 the month before.
EUR/USD – The euro was trading flat at $1.1455. EUR/USD is at a crossroads and the direction it takes may depend on which currency markets dislike the least. Italian Markit PMI for January saw a big downside miss to already lowered forecasts and German Markit PMI also surprised to the downside. Both reinforce downside risks, which the ECB stated last week, now facing the euro zone. While January euro zone core inflation was above estimates it remains below ECB projections and might not counteract slowing growth. Big upside surprises to U.S. January NFP and ISM manufacturing have trumped the downside surprise in average hourly earnings resulting in gains for the dollar and U.S. rate complex.
GBP/USD – Sterling was marginally lower at $1.3075. Traders expect the British pound to remain volatile as Brexit uncertainty remains high. The Bank of England is scheduled to meet later this week and widely expected to keep interest rates steady. British Prime Minister Theresa May said on Sunday she would seek a pragmatic solution to a parliamentary impasse over the terms on which Britain leaves the European Union when she tries to reopen talks with Brussels. Britain's Brexit minister Stephen Barclay will hold a meeting of a new working group of Conservative lawmakers on Monday seeking to find an alternative plan to avoid a post-Brexit border in Ireland, Prime Minister Theresa May's office said.
USD/JPY - The dollar rose against the yen on Friday, posting its largest one-day gain in roughly a month, after January data showing the biggest number of U.S. jobs created in 11 months and a rebound in U.S. manufacturing. But tame wage inflation as shown in the U.S. nonfarm payrolls report kept the dollar's gains in check. The dollar held near a one-week high against the yen on Monday, supported by a stronger-than-expected U.S. jobs and factory data, although gains are likely to be capped on caution about Federal Reserve policy and amid thinned holiday trade in Asia. The greenback was marginally higher versus the yen at 109.60, after posting its largest percentage gain in almost a month.
Currency Range for today
Important data releases today
|4-Feb-19||3:00 PM||GBP||Construction PMI (Jan)||52.6||52.8|
Date : 4-Feb-2019
20 Sep 2019 09:14 AM
USD/INR – The Indian rupee opened little changed against the dollar as investors focus on choppy crude oil prices and the Chinese yuan. The rupee opened at 71.20 compared with its the previous close of 71.3175. Brent crude ticked higher in Asia tradi
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.