USD/INR opens lower tracking broad rally in Asian currencies after US defers implementing tariffs on some Chinese imports. Pair now at 70.88 against 71.40 previous close. Onshore yuan up 0.5% at 7.0236 after Washington announces that duties on some major categories of consumer products will be postponed from September 1 to December 15. After yesterday’s announcement, tariffs on more than half of the targeted $300 billion Chinese goods will be delayed. Shanghai Composite up 0.8%, leading Asian equities higher. China July spending and activity data, released earlier today, disappoints. Dollar index little changed at 97.79 after rising 0.4% in previous session.Sensex up 0.4%. India retail inflation rate slows to 3.15% in July from 3.18% in prior month. Brent crude down 1% at $60.68 after rallying 4.7% yesterday. “The early decline in the pair to below 71.00 has not convinced us that the uptrend is over. Local risk appetite remains tepid and foreign outflows from equities continue. With immediate support on pair just around the corner at 70.80, we prefer to buy the dollar at current levels.
09 Dec 2019 04:02 PM
Indian shares ended higher on Monday, as gains in auto and metal stocks offset losses in information technology and consumer sectors. The NSE Nifty 50 index ended 0.13% higher at 11,936.95 and the S&P BSE Sensex closed up 0.1% at 40,487.43.
09 Dec 2019 02:56 PM
European stocks fell on Monday as worries about a Chinese economic slowdown and the U.S.-China trade war outweighed Friday's strong U.S. jobs data, in a quiet start to trading before several big events later in the week. The Federal Reserve meets on
09 Dec 2019 02:10 PM
Sterling hit a seven-month high against the dollar and a 2-1/2 year peak versus the euro on Monday after fresh polls showed British Prime Minister Boris Johnson's Conservative Party has extended its lead in opinion polls before Thursday's election. T
09 Dec 2019 11:53 AM
Indian shares inched higher on Monday as broader Asian equities rose on optimism from the strong U.S. data, although gains were capped by concerns about China's economic slowdown. The NSE Nifty 50 index rose 0.1% to 11,37.65 and the S&P BSE Sensex ed
09 Dec 2019 11:25 AM
China's yuan held familiar ranges on Monday morning, as investor caution about developments in the Sino-U.S. trade dispute and other global risks kept market volumes thin. A slew of events this week, including the Dec. 15 deadline for U.S. tariffs on
09 Dec 2019 11:04 AM
Investors await U.S. Fed meeting starting on Tuesday, China's November imports rose, SPDR Gold holdings fell 0.3% on Friday; lowest since Sept. Gold was steady on Monday as investors await cues from the U.S. Federal Reserve on interest rates later th