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.
19 Jul 2019 12:30 PM
The U.S. dollar is seen rising steadily against the yen in tandem with the US dollar, as the bulls now look towards the 107.70 resistance area, supported by the New York Fed's clarification on President Williams’ comments.
19 Jul 2019 12:01 PM
Indian shares gave up early gains to trade lower on Friday, with auto and financial stocks taking the brunt of the losses
19 Jul 2019 11:31 AM
China's yuan inched up against the dollar on Friday as the U.S. dollar came under pressure after a Federal Reserve official bolstered market bets of an interest rate cut later this month.
19 Jul 2019 11:01 AM
Gold on Friday surged above the key $1,450 level for the first time since May 2013, after comments from a top Federal Reserve official bolstered expectations of an interest rate cut, while fresh tensions in the Middle East further supported bullion.
19 Jul 2019 10:27 AM
The Indian rupee was trading higher against the greenback in early trade, as dollar index slipped to a two-week low
19 Jul 2019 09:56 AM
Oil prices climbed around 2% on Friday after the U.S. Navy destroyed an Iranian drone in the Strait of Hormuz, a major chokepoint for global crude flows, elevating tensions in the Middle East.