Author: admin
The Indian rupee closed the week with losses against the dollar, with frequent dollar-selling interventions by the central bank curbing declines from the prolonged uncertainty from the months-long West Asia conflict.The rupee ended little changed at 95.4250 per on Friday but fell 0.2 per cent from a week ago.Persistent dollar sales by State-run banks, most likely on behalf of the Reserve Bank of India, anchored the currency in a less-than-30-paisa range during the week, and blunted the impact of sustained dollar demand from importers, volatile crude prices and the maturity of derivative contracts.Oil prices rose after the United States threatened…
Societe Generale notes India’s headline CPI rose slightly to 4.45% year-on-year in July, backing the RBI’s decision to keep policy unchanged. The central bank has reportedly been active in FX markets as the trade deficit widened. Higher Oil and Gold prices countered dovish Federal Reserve repricing, while non-resident inflows into Indian Government Bonds have helped support the Rupee.RBI activity and bond inflows aid rupee”India headline CPI edged up modestly to 4.45% yoy in July from 4.38% in June, reinforcing the latest decision by the RBI to keep policy on hold.””At the same time, the central bank has reportedly remained active…
The rupee gained 2 paise to 95.43 against the US dollar in early trade on Friday, backed by a weaker greenback overseas.The Indian currency, however, remained under pressure due to the withdrawal of foreign funds from domestic equities and rising crude oil prices amid geopolitical uncertainties, forex traders said.At the interbank foreign exchange market, the rupee opened at 95.39 and later slipped to trade at 95.43 against the American currency in early deals, up marginally by 2 paise from its previous closing level.On Thursday, the rupee closed 12 paise lower at 95.45 against the US dollar.Meanwhile, the dollar index, which…
Over the week so far, the rupee has hovered in a 95.17-95.4450 range. | Photo Credit: FRANCIS MASCARENHAS The Reserve Bank of India likely intervened in the foreign exchange market on Friday, three traders told Reuters, as uncertainty over the West Asia conflict kept risk appetite muted and oil prices elevated.The rupee was steady on the back of the intervention at 95.40 per dollar. It managed to hold above the psychologically important 95.50 level, similar to price action seen over much of this week where interventions have kept a firm lid on the currency’s losses.Over the week so far, the…
EUR/JPY remains flat after registering minor gains in the previous day, trading around 183.90 during the Asian hours on Friday. The currency cross is holding above the short-term nine-period Exponential Moving Average (EMA) but remaining capped by the medium-term 50-period EMA.The moving averages configuration, together with a near-neutral 14-day Relative Strength Index (RSI) at 48.21, suggests a consolidative tone with a slight bearish bias as the pair struggles to reclaim its 50-period EMA while still respecting nearby dynamic support.The EUR/JPY cross may test the immediate support at its nine-day Exponential Moving Average of 183.59. A decisive break below this short-term…
The yen headed for its biggest weekly loss in three months on Friday as the impact of U.S. and Japanese intervention faded, leaving traders to wager another round of official buying would be needed to stem the rot.The currency has surrendered roughly half the gains sparked by intervention in late July and early August, falling about 1% this week to 159.43 per dollar. It was trading near 164 per dollar before July’s intervention and traders see the 160 level as a potential trigger for fresh official action.The yen’s retreat is set to be its biggest weekly drop since May, when…
Mumbai: The Indian rupee was largely unchanged on Thursday and closed at 95.44, versus its previous close of 95.33, as dollar sales by the RBI kept the local unit in a tight range. Dollar demand from maturing forwards and debt-related outflows added pressure, which was countered by dollar sales from state run banks, traders said. Brent crude oil futures at $87 per barrel added further pressure on the currency.Read Also: Sebi seeks public comments on review of Accredited Investor frameworkThe rupee traded in a narrow 10 paise range of 95.35 and 95.45, while traders also held off from taking large…
US Treasury Secretary Scott Bessent said that Washington is going to apply measures that have “never been seen” on Iran, Reuters reported on Thursday. “Watch this space for more announcements coming next week because we are going to apply measures like have never been seen in the history of economic isolation on a country,” said Bessent. Earlier on Thursday, a senior Islamic Revolutionary Guards Corps (IRGC) official, Hossein Taeb, said that the Strait of Hormuz is “under Iran’s control and management” after US President Trump said Washington has “total control” over the waterway, Fox News reported. “Today you see that the Strait of…
The Dow Jones Industrial Average trades near 53,700 on Thursday, roughly 75 points and a tenth of a percent lower, on a morning when the S&P 500 prints a fresh record intraday high and the Nasdaq Composite runs close to a percent higher. The obvious reading of that gap is an old-economy benchmark missing a technology rally on a soft inflation print, and it is the wrong one.The arithmetic runs through a single component that reported its fiscal fourth quarter after Wednesday’s session and is being marked down for it. That one reaction accounts for very nearly the whole decline,…
West Texas Intermediate (WTI) Oil trades modestly lower on Thursday as traders weigh weaker demand forecasts from OPEC and the International Energy Agency (IEA) against supply disruptions in the Middle East. At the time of writing, WTI trades around $80.50 per barrel, down 1.35% on the day.There are still no signs that the Strait of Hormuz will reopen soon, with both the United States and Iran claiming control of the waterway. Commercial shipping remains well below pre-war levels, keeping a geopolitical risk premium embedded in energy prices and limiting WTI’s decline.OPEC now expects global Oil demand to grow by 580,000…