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.
16 Aug 2019 05:42 PM
The Indian rupee fell for a sixth week against the dollar, its biggest losing streak since May last year, as trade tensions and global growth
16 Aug 2019 03:41 PM
The yen hit session lows versus the dollar near 106.50 levels, as the recovery in the risk sentiment gathered steam, as reflected by the extension of the relief rally in the Treasury yields and S&P 500 futures.
16 Aug 2019 03:37 PM
The pound gained for a second consecutive day on Friday after a stream of resilient economic data this week calmed sentiment on the health of the UK economy and as opposition parties launched plans to block a no-deal Brexit.
16 Aug 2019 03:33 PM
The euro fell to a two-week low on Friday against the dollar, which extended the gains it made the day before after U.S. retail sales data came out better than expected .
16 Aug 2019 02:57 PM
Indian equity indices slipped on Friday as the local markets caught up with a broader selloff in the previous day after fears of a recession in the United States stoked worries about global growth.
16 Aug 2019 02:18 PM
China's yuan eased on Friday, pressured by a stronger dollar and trade worries after Beijing pledged to retaliate for the latest U.S. tariffs. The dollar firmed