Author: admin
The Indian rupee closed modestly higher on Friday but logged a weekly fall as dollar demand related to merchant flows, arbitrage trades and maturities in the non-deliverable forward market outweighed comfort from a broadly weaker U.S. dollar.The rupee declined nearly 1% on the week to close at 95.21 per dollar, slipping past the 95 per dollar level for the first time in three weeks.Improved foreign portfolio inflows into government bonds and expectations of a balance of payments surplus for the year ending March 2027 has improved sentiment on the rupee, even though day-to-day flows continue to pinch the unit, traders…
The Indian rupee closed modestly higher on Friday but logged a weekly fall as dollar demand related to merchant flows, arbitrage trades and maturities in the non-deliverable forward market outweighed comfort from a broadly weaker U.S. dollar.The rupee declined nearly 1% on the week to close at 95.21 per dollar, slipping past the 95 per dollar level for the first time in three weeks.Improved foreign portfolio inflows into government bonds and expectations of a balance of payments surplus for the year ending March 2027 has improved sentiment on the rupee, even though day-to-day flows continue to pinch the unit, traders…
The Euro (EUR) is up 0.16% to near 1.1455 against the US Dollar (USD) during the European trading session on Friday. The EUR/USD pair gains as the US Dollar underperforms its peers due to a slight ease in hawkish Federal Reserve (Fed) interest rate expectations.As of writing, the US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, trades 0.15% lower to near 100.70. US Dollar Price Today The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the weakest against the New Zealand Dollar. USDEURGBPJPYCADAUDNZDCHFUSD-0.19%-0.16%-0.16%-0.04%-0.28%-0.43%-0.20%EUR0.19%0.02%0.00%0.14%-0.14%-0.24%-0.01%GBP0.16%-0.02%-0.04%0.12%-0.17%-0.26%-0.03%JPY0.16%0.00%0.04%0.16%-0.14%-0.25%-0.01%CAD0.04%-0.14%-0.12%-0.16%-0.31%-0.40%-0.16%AUD0.28%0.14%0.17%0.14%0.31%-0.09%0.14%NZD0.43%0.24%0.26%0.25%0.40%0.09%0.23%CHF0.20%0.01%0.03%0.00%0.16%-0.14%-0.23% The heat…
The rupee appreciated 19 paise to 95.16 against US dollar in early trade on Friday, as the dollar index retreated from its recent 15-month high levels.Forex traders said despite a weaker dollar index and lower crude oil prices rupee is still facing pressure from robust dollar demand from importers and corporate hedgers.At the interbank foreign exchange market, the rupee opened at 95.20, then touched 95.16 against the US dollar, registering a gain of 19 paise from its previous close.On Thursday, the rupee pared initial gains and settled for the day on a negative note, lower by 19 paise at 95.35…
USD/IDR gains ground after registering minor losses in the previous day, trading around 18,000 during the Asian hours on Friday. The pair appreciates as the US Dollar (USD) holds its position despite a disappointing set of domestic labor data released on Thursday.US labor market forces Wall Street to aggressively rethink its interest rate outlook. The primary catalyst for this shift was the June Nonfarm Payrolls (NFP) report released on Thursday. The US economy added just 57,000 jobs last month, completely missing the market consensus of 110,000. While the headline unemployment rate managed an unexpected tick downward to 4.2% from May’s…
The U.S. dollar was on track for the biggest weekly drop in nearly three months on Friday, after a tepid June jobs report pushed back markets expectations for Fed rate hikes, providing some relief for the embattled yen. Softness in the greenback continued in early Asian trade, with the euro hovering near its two-week peak at $1.1442. Sterling was also firm at $1.3361 and on track for a 1.2% weekly gain, its best in nearly three months. The risk-sensitive Australian dollar fetched $0.6935 , set to snap a four-week losing streak. New Zealand’s kiwi traded at $0.5702, up 1.2% for…
Mumbai: The Indian rupee closed at 95.39 on Thursday, modestly weaker from its previous close, despite falling oil prices and intervention from the central bank. The rupee had previously closed at 95.24 per dollar.The currency came under pressure due to dollar demand from foreign banks, oil companies and foreign investor outflows from equities.The rupee traded 95.40 and 94.92 on Thursday, with RBI intervention largely in the first half of the day, along with some dollar sales in the offshore non deliverable forwards market before domestic markets opened, traders said. Brent crude oil prices were trading at $70 per barrel. The…
United Overseas Bank’s (UOB) Quek Ser Leang reports USD/CNH is consolidating after a prior decline to 6.7865, with prices oscillating between 6.7911 and 6.8025 and closing at 6.7948. He expects intraday action to remain confined to 6.7860–6.7990. Over 1–3 weeks, recent Dollar strength is seen as having ended, with the pair likely to trade between 6.7750 and 6.8080, while medium-term recovery requires a break above the 21‑week EMA at 6.8430.Off highs and stuck in a band”24-HOUR VIEW: Two days ago, USD dropped to 6.7865 and then rebounded. When it was at 6.7920 yesterday, we highlighted that “the rebound from oversold…
ING’s Carsten Brzeski analyses a new German government reform package focused on cutting red tape, increasing labour market flexibility, and capping healthcare and pension costs to restore competitiveness. He notes that while the measures will not turn Germany’s stagnating economy into a booming one overnight, they can create a framework for future growth and support a more optimistic German GDP outlook.Reforms aim to boost competitiveness”Germany’s World Cup campaign may have come to an abrupt end, but the country’s reform drive is gathering momentum. In a bid to reverse the rather uncomfortable narrative, the government has just unveiled a sweeping reform…
The Euro (EUR) accelerated its decline against a strong Japanese Yen (JPY), which has rallied across the board on Thursday, without any clear reason to explain the move. The EUR/JPY pair has found support at the 183.75 area, after a knee-jerk reaction from Tuesday’s highs at 185.86, with momentum indicators on intraday charts showing strong bearish momentum.The Yen saw a sudden spike during Thursday’s early European session, which raised speculation that Japanese authorities stepped in to support the JPY, which had fallen to 40-year lows against the US Dollar earlier this week. Yen’s unexpected recovery has put investors on edge,…