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.
AUD/USD drops due to Trump’s tariff rhetoric
The Australian dollar posted losses of over 0.40% against the US Dollar, and the latter remains supported by US President-elect Donald Trump’s tariff threats. At the time of writing, the AUD/USD trades at 0.6204 after bouncing off daily lows of 0.6187.
Rupee on a weak pitch; prices inching close to 84.75 against dollar
The Indian rupee was down by 7 paise and touched Rs 84.73 against US dollar in early trade on December 9. The decline can be attributed to the outflow of foreign money and less activity in the Indian equity market.
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%
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USD/INR अधिक बढ़ता है, FOMC मिनटों पर ध्यान केंद्रित करें
नए सिरे से अमेरिकी डॉलर (USD) की मांग के बीच बुधवार को भारतीय रुपया (INR) में गिरावट आई। घरेलू और विदेशी निवेशकों द्वारा भारतीय अर्थव्यवस्था में आशावादी दृष्टिकोण ने भारतीय इक्विटी के बाजार पूंजीकरण को बढ़ावा दिया है और हांगकांग के बाद दुनिया में पांचवां सबसे बड़ा बाजार बन गया है।