The Indian Rupee (INR) faces some selling pressure on Thursday as terrorist attacks in Kashmir, India, weighed on sentiment. Furthermore, rising crude oil prices undermine the Indian currency, as India is the world’s third-largest oil consumer.
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Renewed tariff threats target the EU
President Trump has floated the idea of an additional 20% tariff on European goods, potentially set for announcement later on Wednesday. This move revives worries of a transatlantic trade spat, with auto and pharmaceutical sectors reportedly in the crosshairs. Any retaliatory measures from the EU could undermine global growth and apply fresh downward pressure on the Euro.
US Dollar near familiar range after PCE data
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against a basket of currencies, is currently flat near 104.30 on Friday following the release of the Federal Reserve’s (Fed) preferred inflation metric — the Personal Consumption Expenditures (PCE) Price Index. The reading showed a mild uptick, helping the Greenback hold recent levels. However, the rally appears capped as safe-haven flows favor Gold, and technical signals remain bearish.
Sterling resumes losses before growth data
Sterling fell in European trade on Thursday against a basket of major rivals, resuming losses after a two-day hiatus and approaching a 14-month nadir.
Gold Investors Await Fed’s Response and US Inflation Report
Spot Gold Forecast For Today: Stock markets in the US will remain open on Veterans Day on Monday but bond markets will be closed, limiting the market volatility at the beginning of next week.
Rupee to receive boost as chances of significant Fed rate cut rise
The Indian rupee is expected to receive a boost on Monday from the increasing probability that the US Federal Reserve will deliver a 50-basis-point rate cut in the week.
Rupee Opens Stronger In Run-Up To Key US Payrolls Data
The rupee strengthened by 2 paise to open at 83.96 against the US dollar, according to Bloomberg data.
The Indian rupee opened stronger against the US dollar on Friday after nearly touching the psychologically key mark of 84 in the previous session. The domestic currency strengthened amid a marginal decline in the dollar index.
FX Updates: Swiss Franc Rises by 0.26%
FX Updates: Top currency gainers are Swiss Franc (0.26%), Euro (0.08%), British Pound (0.02%) and Japanese Yen (0.21%). Biggest losers are South Korean Won (-0.25%) and Dollar Index (-0.08%).
DXY index price today: डीएक्सवाई पांच महीने के निचले स्तर पर गिरा
भारतीय रुपया रिकॉर्ड निचले स्तर पर गिरा
सितंबर के बाद से बार-बार स्तर का परीक्षण करने के बाद, भारतीय रुपया 83.3 प्रति अमेरिकी डॉलर से अधिक कमजोर हो गया, जो कि रिकॉर्ड पर इसका सबसे निचला स्तर है, क्योंकि एशिया में ग्रीनबैक की मजबूत मांग ने आरबीआई से पूंजी बहिर्वाह के ऊंचे स्तर को बढ़ा दिया है। रिपोर्ट में कहा गया है कि विदेशी निवेशकों ने रुपये में अंकित परिसंपत्तियों को नष्ट कर दिया है, जिससे भारतीय अर्थव्यवस्था में असंतुलित पूंजी प्रवाह की चिंता बढ़ गई है, जो आरबीआई द्वारा अपेक्षाकृत कम वास्तविक ब्याज दरों के दबाव में है। इसके अलावा विदेशी मुद्राओं के लिए बेचे जाने वाले रुपये की मात्रा में वृद्धि, अस्थिर तेल की कीमतों ने उच्च आयात मुद्रास्फीति के प्रति भारत की संवेदनशीलता को बढ़ा दिया, जिससे मुद्रा पर बिक्री का दबाव बढ़ गया।