The Indian rupee little changed at 68.30 pair now at 68.32 against 68.5650 previous close.
Pair to tip in 68.20-68.50 range today.
Dollar/rupee open lower Thursday tracking a weak dollar after Fed Chair Powell reinforced prospects of a US interest rate cut later this month. After Fed Powell's dovish comments, dollar weakened. Spot may open lower. Fed Powell confirmed that the US economy is still under threat from disappointing factory activity, tame inflation and a simmering trade war. Powell said the central bank stands ready to act as appropriate. The spot pair may open around Rs 68.32-68.39/$1 Thursday compared to Rs 68.56/$1 at previous close.
Global Currency
The dollar was soft on Thursday after Federal Reserve Chairman Jerome Powell set the stage for a rate cut later this month, vowing to "act as appropriate" to ensure the world's biggest economy will be able to sustain a decade-long expansion.
Powell pointed to broad global weakness that was clouding the U.S. economic outlook amid uncertainty about the fallout from the Trump administration's trade conflict with China and other nations. to a generally dovish tone in his testimony, the minutes from the Fed's previous policy meeting showed many policy makers thought more stimulus would be needed soon, reviving speculation of an aggressive rate cut.
Global Markets
Gold prices rose to their highest in over a week on Thursday as the dollar pulled back from multi-week highs after comments from Federal Reserve Chairman Jerome Powell bolstered expectations for an interest rate cut later this month.
U.S. oil futures hit their highest in over a month on Thursday as a potential hurricane threatened crude output in the Gulf of Mexico and as an incident involving a British tanker in the Middle East highlighted ongoing tensions there.
Global Markets at one Glance
Markets Today
In INR
% Change
USD/INR
68.3125
68.3225
-0.13
EUR/USD
1.12759
77.03
0.02
GBP/USD
1.2533
85.62
0.10
USD/JPY
107.933
0.63
0.3
SEK/INR
9.3984
7.2685
0.0084
DKK/INR
6.0980
11.2025
0.0325
AUD/USD
1.4334
47.65
0.05
TIME
USD LIBOR
EURO LIBOR
1M
2.34763
-0.41543
3M
2.50450
-0.35929
6M
2.52088
-0.31129
1Y
2.60925
-0.22029
Index
Today
% Change
NIFTY
11531.00
+0.28
SENSEX
38668.40
+0.29
BANK NIFTY
30616.50
+0.33
SGX NIFTY
11541.00
+0.42
NIKKEI
21632.50
+0.46
HANG SENG
28539.50
+1.19
SHANGHAI
2924.85
+0.33
ASX200
6719.50
+0.44
DOW JONES
26930.60
+0.26
S&P500 #
2993.70
+0.45
NASDAQ #
8202.53
+0.75
Key Events of the Day
Date
Time
Currency
Event
Forecast
Previous
11-Jul-2019
18.00
USD
Core CPI (MoM) (Jun)
0.2%
0.1%
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