USD/INR opens lower on broad advance in Asian currencies after Trump delays tariff increase on Chinese goods. Pair now at 71.30, lowest since August 19, against 71.65 previous close. Chinese yuan, up 0.4% at 7.0832, leads Asian currencies higher after Trump postpones increase in tariffs on $250 billion of Chinese shipments by two weeks. Trump’s postponement comes after China earlier waived import tariffs imposed last year on few US goods.
Shanghai Composite up 0.3%. S&P 500 Index futures advance 0.4%. Dollar index little changed at 98.64. Euro flat at 1.1012 to dollar ahead of ECB policy review. DBS expects series of easing measures - 10 basis points cut in deposit facility rate, dovish forward guidance and signal for upcoming asset purchases.
Brent crude rises 0.6% to $61.20 after falling 2.5% yesterday amid that Trump discussed easing Iran sanctions.
28 Feb 2020 05:20 PM
The Indian rupee slipped against the dollar this month amid a broad decline in Asian currencies and equities, on growing alarm over the spread of the coronavirus beyond China and across the globe.
28 Feb 2020 04:37 PM
Indian shares sank on Friday for a sixth straight session, capping their worst week in more than a decade, over fears that the fast-spreading coronavirus outbreak could trigger a global recession.
28 Feb 2020 02:56 PM
The pound dropped on Friday, particularly against the euro, as worries about the fast-spreading coronavirus sent investors out of currencies deemed riskier.
28 Feb 2020 11:28 AM
The yuan eased on Friday, dragged by a massive global selloff in risk assets as investors panicked about the fast spread of the coronavirus, however, growing expectations of a U.S. rate cut slowed the Chinese currency's fall against the dollar.
28 Feb 2020 09:46 AM
Oil prices fell for a sixth straight session on Friday and were on track for about a 12% weekly fall, the biggest in more than four years, as the spread of the coronavirus outside China raised fears of slowing global demand.
28 Feb 2020 09:20 AM
The dollar nursed losses on Friday after its worst day against the euro in nearly two years, as the global spread of the coronavirus fired up expectations for a U.S. rate cut and pushed the hunt for yield elsewhere.