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 Jan 2021 06:11 PM
Myforexeye Research
Equities take a breather as the vaccines reach places
15 Jan 2021 06:17 PM
Myforexeye Research
USDINR Ideas - if not now then when
14 Jan 2021 04:42 PM
Myforexeye Research
Ever since the global economy crashed down after the wide scale spread of Covid19, major central banks all over the world pumped in huge amount of liquidity and cut interest rates
11 Jan 2021 06:50 PM
Myforexeye Research
Single currency has paved way for dollar to regain some strength after touching 2018 levels few trading sessions back
08 Jan 2021 05:12 PM
Myforexeye Research
Over the last 6 months or so, sterling trade in global forex markets was dominated by the Brexit negotiations and the spread of the pandemic.
06 Jan 2021 06:19 PM
Ritesh Victor
As is common knowledge, the dollar index has been on a continuous downtrend since ages (Mar 2020)