Forex trading update
Reuters 3 Feb , With central banks in advanced economies increasingly moving towards tighter monetary policy, the ongoing spate of FII selling pressure in Indian equities could exacerbate, especially if the RBI were not to signal concrete steps to normalize ultra-loose pandemic-era policies, dealers said. By using this site, you agree to the Terms of Service and Privacy Policy. Nifty 17,
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The dollar was perched near a five-week high on Thursday, bolstered after Federal Reserve chair Jerome Powell primed investors for U. Overnight the Fed left policy unchanged but Powell foreshadowed a sustained battle to tame inflation.
At the interbank foreign exchange, the rupee opened flat at The safe-haven U. The Federal Reserve, which had in December, signalled three rate hikes of 25 basis points in , is widely expected to maintain a hawkish stance at its upcoming policy statement, given that inflation is currently near year highs in the country.
The dollar traded steady on Monday ahead of the U. Federal Reserve's January policy meeting later this week, while bitcoin lay bruised near a six-month low hit over the weekend, hurt by a sell-off in technology stocks. At the interbank foreign exchange market, the rupee opened at Reserve Bank of India RBI is understood to have started early, with a string of smart operations in the foreign exchange market, in preparing for the dividend it has to pay later this year to its sole shareholder, the government.
The partially convertible rupee opened at So far in the day, the rupee moved in a band of Higher commodity prices were supporting the Canadian and Australian dollars on Thursday, while a pause in this week's rally in U. Treasury yields meant the dollar also marked time. Domestic bond markets saw a recovery on suspected intervention by the central bank, which helped in rupee recovery," said Dilip Parmar, Research Analyst, HDFC Securities. The dollar was firm on Wednesday after a rip higher in U.
At the interbank foreign exchange market, the local currency opened at The People's Bank of China set a firm midpoint rate prior to market open. The USD looks stronger and is expected to move higher after finding support at The yen edged higher ahead of the outcome of a central bank policy meeting on Tuesday, while the dollar seemingly ignored U. Treasury yields hitting new near two-year highs on their return from a long weekend break.
Coupled with the rise in oil prices, domestic currency traders felt that the rupee could see some correction over the near term, especially as the Indian unit has displayed extraordinary resilience against the US dollar since the second fortnight of December. The dollar clung to a late week bounce on Monday as investors braced for January's U. Federal Reserve meeting and raised bets it will chart a year ahead holding several rate hikes, while China surprised analysts with a benchmark cut.
In the absence of strong dollar inflows, the Reserve Bank likely sold dollars to rein in the value of the rupee which was seen weakening against the dollar as foreign investors pulled out huge amounts of dollars in the preceding weeks.
At the interbank foreign exchange market, the local currency witnessed an intra-day high of European currencies are generally up against the dollar, but the dollar index should find support near to The dollar headed for its largest weekly fall in eight months on Friday as investors trimmed long positions and deemed, for now, that several U. In a week where data showed U. The partially convertible rupee settled at The Indian currency, which opened at The dollar index, which measures the US currency against six major rival currencies, was last at Central banks across the world have stepped up work on CBDCs to avoid the private sector dominating digital payments as cash use falls.
The prospect of widely-used cryptocurrencies issued by Big Tech has also galvanized such efforts. The dollar was below key support levels on Thursday, having hit new lows overnight, after data showing U. So far in the day, the Indian currency moved in a band of The Indian currency moved in a band of The U. At the interbank forex market, the local unit opened strong at It finally settled at Nifty 17, Tata Tele Market Watch.
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Market Calendar. Stock Price Quotes. Markets Data. Market Moguls. Expert Views. Technicals Technical Chart. Commodities Views News. Forex Forex News. Currency Converter. And how will it work? Dollar restrained by risk revival, spread of rate speculation.
Rupee slumps 30 paise to Rupee opens 34 paise lower vs dollar as Fed signals rate hike. Rupee slips 7 paise to Rupee tumbles 18 paise vs dollar as equity rout, high oil prices sour sentiment 24 Jan, , PM IST The Federal Reserve, which had in December, signalled three rate hikes of 25 basis points in , is widely expected to maintain a hawkish stance at its upcoming policy statement, given that inflation is currently near year highs in the country.
Rupee falls 9 paise to Rupee rises 8 paise to close at RBI taps forex market early for government payout 21 Jan, , AM IST Reserve Bank of India RBI is understood to have started early, with a string of smart operations in the foreign exchange market, in preparing for the dividend it has to pay later this year to its sole shareholder, the government.
High oil prices boost commodity currencies, dollar rally stalls 20 Jan, , AM IST Higher commodity prices were supporting the Canadian and Australian dollars on Thursday, while a pause in this week's rally in U.
Rupee snaps 3-day losing streak, settles 14 paise higher at Rupee slumps 33 paise to close at Dollar fails to catch a lift from higher yields, Bank of Japan in focus 18 Jan, , AM IST The yen edged higher ahead of the outcome of a central bank policy meeting on Tuesday, while the dollar seemingly ignored U. Rupee steady vs dollar in thin trade; rise in US yields, crude dampen sentiment 17 Jan, , AM IST Coupled with the rise in oil prices, domestic currency traders felt that the rupee could see some correction over the near term, especially as the Indian unit has displayed extraordinary resilience against the US dollar since the second fortnight of December.
Rupee slumps 25 paise to close at Rupee falls 19 paise to Dollar heads for weekly loss as longs lose faith 14 Jan, , AM IST The dollar headed for its largest weekly fall in eight months on Friday as investors trimmed long positions and deemed, for now, that several U. Rupee opens stronger as dollar index tumbles; rise in crude keeps traders on edge 13 Jan, , AM IST The dollar index, which measures the US currency against six major rival currencies, was last at Digital pound could hit financial stability and erode privacy, UK lawmakers warn 13 Jan, , AM IST Central banks across the world have stepped up work on CBDCs to avoid the private sector dominating digital payments as cash use falls.
Dollar breaks key support, rates outlook seen unchanged by inflation data 13 Jan, , AM IST The dollar was below key support levels on Thursday, having hit new lows overnight, after data showing U.
Rupee gains 31 paise to close at
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Select additional content:. This feature is not working due to disabled Functional or Targeting cookies. To use this and other services, please enable cookies. Spain January services PMI European equities slightly lower at the open A more tepid start to the new day. Education Sponsored. UK CBI says rising energy prices could be an issue for the next two or three years Inflation, inflation, inflation. Eurostoxx futures
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Trade forex with up to leverage. Get FREE real-time forex quotes and set indicators to easily analyse charts. Apply for an account in a few minutes, practice trading with our FREE unlimited Demo Account until you're ready to move to the next level. The Turkish lira fell to a new all-time low, as investors sold off the currency after President Erodgan threatened expulsion against the ambassadors of 10 countries, including the U. If the minutes confirm a change in course for the Federal Reserve, Forex pairs and the price of Gold might be affected. The Dollar index, which measures the Dollar against a basket of six major currencies, fell to its lowest point since February after the U.
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Reuters -Britain became the first G7 economy to hike interest rates since the onset of the pandemic on Thursday, with the U. Federal Reserve also signalling plans to tighten in but the European Central Bank only slightly reining in stimulus. The dollar steadied on Friday ahead of data from the United States that is expected to show an increase in job creation and a lower unemployment rate for March, as the the world's largest economy maintains a steady recovery from the pandemic. The Australian dollar and other riskier currencies recovered some lost ground against the U. The U. Taiwan's central bank said on Sunday it had banned Deutsche Bank from trading Taiwan dollar deliverable and non-deliverable forwards and suspended it for two years from trading forex derivatives as part of a crackdown on speculation.
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