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The Indian rupee ended nearly flat on Friday but declined from a week earlier as renewed hostilities in the Middle East made investors cautious about exposure to oil-sensitive currencies and sparked a modest pickup in importer hedging.Global stocks rose on the back of AI-related enthusiasm in Asia over the U.S. market debut of South Korean chip bellwether SK Hynix. Regional currencies gained with the Japanese yen lifted by news of plans to encourage pension funds to increase their holdings of domestic financial assets.The rupee ended at 95.3250 per dollar, little changed from its close in the previous session and fell…
While global equities and regional currencies gained on AI-driven optimism, investors remained wary of the fragile West Asia ceasefire and its implications for energy prices and inflation. The Indian rupee ended nearly flat on Friday but declined from a week earlier as renewed hostilities in the Middle East made investors cautious about exposure to oil-sensitive currencies and sparked a modest pickup in importer hedging.Global stocks rose on the back of AI-related enthusiasm in Asia over the U.S. market debut of South Korean chip bellwether SK Hynix. Regional currencies gained with the Japanese yen lifted by news of plans to encourage…
The Euro (EUR) remains on the defensive against the British Pound (GBP) on Friday, with the EUR/GBP pair unable to take off from one-year lows at the 0.8515 area. Data from Germany and France confirmed that inflationary pressures moderated in June, which added pressure on the common currency.In Germany, the final Harmonized Index of Consumer Prices (HICP) confirmed previous estimations showing that inflation grew at a 2.4% year-over-year (y-o-y) rate in June, down from 2.7% in May and from April’s 2.9% peak. Monthly inflation contracted 0.2%, also in line with preliminary estimations, following a 0.1% contraction in May. Likewise, France’s…
The Indian rupee drifted in a narrow range on Friday, on a broadly softer dollar and well-contained oil prices, though traders remained wary of taking a strong directional position due to lingering Middle East risk. The rupee was up 0.1% at 95.31 per dollar, from its close at 95.3875 in the previous session. Asian currencies rose, benefiting from softer pricing of U.S. Federal Reserve rate hikes that curbed the dollar. Regional stocks were stronger as well, with India’s benchmark Nifty 50 stock index up 1%.The spotlight though remains on oil prices after renewed back-and-forth attacks between the U.S. and Iran…
The rupee rose 15 paise to 95.32 against US dollar in early trade on Friday as the greenback weakened and oil prices eased despite intensifying tensions in West Asia.FII outflows and uncertainties over fresh tensions in West Asia weighed on the local unit while a strong start to the day’s trade at the domestic equity markets provided support, according to forex traders.The US launched new airstrikes against Iran on early Thursday, and Tehran responded by targeting US-allied West Asian countries in an exchange of fire that threatened an interim deal intended to help end the war.Back-and-forth attacks, including a day…
The US Dollar (USD) extends its losing streak for the third trading day on Friday amid signs of de-escalation in the ongoing clash between the United States (US) and Iran.In the Asian session, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.3% lower to near 100.60, revisiting the three-week low. 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 Japanese Yen. USDEURGBPJPYCADAUDNZDCHFUSD-0.22%-0.27%-0.57%-0.19%-0.31%-0.55%-0.40%EUR0.22%-0.05%-0.35%0.05%-0.12%-0.34%-0.18%GBP0.27%0.05%-0.33%0.08%-0.08%-0.28%-0.14%JPY0.57%0.35%0.33%0.40%0.27%0.01%0.17%CAD0.19%-0.05%-0.08%-0.40%-0.14%-0.37%-0.21%AUD0.31%0.12%0.08%-0.27%0.14%-0.24%-0.11%NZD0.55%0.34%0.28%-0.01%0.37%0.24%0.14%CHF0.40%0.18%0.14%-0.17%0.21%0.11%-0.14% The heat map shows percentage changes of major currencies against each other. The…
The battered yen languished near a 40-year low and was on track for a weekly loss on Friday, keeping traders wary of potential intervention from Japanese authorities as renewed Gulf hostilities loomed over markets. Overnight investors seemed to brush off flaring tensions in the U.S.-Iran war as oil fell and stocks rallied, though currencies were mostly rangebound. But the fracturing of a fragile ceasefire between the two parties has once again cast a cloud over the outlook for energy prices and global inflation. “The specter of war still hangs over sentiment,” said Thierry Wizman, global FX and rates strategist at…
Mumbai: The Indian rupee appreciated modestly Thursday, deriving strength from dollar sales by state-run banks, and due to easing crude oil prices.The rupee closed at 95.39, 16 paise stronger from its previous close of 95.55 per dollar.The currency traded in the range of 95.27 and 95.58 per dollar and the RBI likely intervened in both the offshore and onshore markets through state-run lenders, traders said.”The level of 95.10 to 95.20 is an important support zone now. A sustained move below it could strengthen the rupee further, while a break above 95.70 may reopen the path towards 96.00, especially if crude…
A US official signaled that it is still committed to the memorandum of understanding with Iran, even though US President Donald Trump’s declared earlier this week that the framework deal to end the Iran war was “over” after Tehran carried out strikes against vessels in the Strait of Hormuz and against neighboring countries, the Times of Israel reported on Thursday.“The United States is still committed to finding a resolution, and technical talks continue,” said the White House.The statement acknowledges Trump’s comments against the MOU but signals that the US is still prepared to adhere to its terms so long as…
The Dow Jones Industrial Average (DJIA) trades near 52,484 on Thursday, higher by roughly 0.28% and recovering only a modest slice of Wednesday’s rout of more than one percent, after President Donald Trump said Iran had called to make a deal. The bounce is real; the conviction underneath it is rented. The index sits some 470 points below Wednesday’s early peak and roughly 850 beneath the record printed at the start of the week, and buyers have needed two sessions of dip defence just to stabilize the tape, with the afternoon push only now grinding back toward the top of…