USD/INR – The Indian rupee opened lower against the dollar ahead of crucial trade talks between the U.S. and China. The rupee opened at 69.88 versus the dollar compared with its previous close of 69.71. Asian equities and currencies extended losses on Thursday before the U.S.-China trade talks. Chinese Vice-Premier Liu He will hold negotiations with U.S. officials on Thursday and Friday in Washington after tensions between the two countries ratcheted higher following President Donald Trump remarks that he plans to increase tariffs on Chinese shipments. The U.S. has accused China of backtracking on previous promises and Trump has said that he is considering taxing all imports out of the Asian nation. Trump said on Twitter yesterday that Beijing had informed Washington that the Chinese Vice-Premier is “coming to the U.S. to make a deal.” He added that if a deal did not materialize, he is “very happy with over $100 Billion a year in tariffs filling U.S. coffers.”
EUR/USD – Against the dollar, the euro was a shade higher at $1.1196, having spent the week stuck in a tight $1.1218-$1.1155 range. EUR/USD remains holed up in the 1.1200 region, shrugging off growing risks that might normally put bears in control. The EU Commission's downgraded outlook , heightened U.S.-Sino trade tensions and 10-year German bund yields trading near -0.05 percent are all factors that should have EUR/USD trading near the 2019 low at a minimum. Bears might be treading cautiously as economic green shoots from the euro zone keep popping up, which could keep the ECB from adding stimulus to the economy as many investors have expected. The U.S. interest rate complex could be limiting the downside as well. If bears don't gain control of EUR/USD soon, odds of an upside move will increase.
18 Jul 2019 09:50 AM
Oil prices were steady on Thursday after falling in the previous session when official data showed U.S. stockpiles of products like gasoline rose sharply last week, suggesting weak demand during the peak driving season.
18 Jul 2019 09:28 AM
The dollar nursed light losses on Thursday, weighed down by lower U.S. yields and a rebound in the pound from 27-month lows. The dollar index versus a
18 Jul 2019 08:53 AM
The Indian rupee is expected to open little changed against the U.S. currency amid losses on the dollar index and decline in equities.
17 Jul 2019 05:40 PM
The Indian rupee hit a two-week low against the dollar, down for the second straight session, amid broad dollar strength on the back of
17 Jul 2019 03:05 PM
Consumer prices in the euro zone increased slightly more than the initial forecast in June, data showed on Wednesday, although headline and underlying inflation rates were still below the improvement that policymakers are seeking.
17 Jul 2019 02:44 PM
The euro fell to a one-week low against the dollar on Wednesday, weighed down by expectations of monetary policy easing and investors' preference for the greenback.