|
Prev
Next
|
|
| As on Apr 26, 2024 12:00 AM |
Your results on : Other Markets |
|
|
| Rupee closed lower at 83.4250 per Dollar on Friday (26 April 2024), versus its previous close of 83.3275 per Dollar.
|
| Euro firmed up, hitting two week highs above 1.0700 mark against the US dollar. Tepid movement in the US dollar index and firm economic cues from the Eurozone boosted the single currency. Germany's consumer confidence is set to rise again in May to hit a two-year high as households turned more optimistic about future income. The forward-looking consumer sentiment index rose to -24.2 in May from a revised value of -27.3 in April, survey conducted by the market research group GfK and the Nuremberg Institute for Market Decisions (NIM) showed on Thursday. EURUSD currently trades at 1.0752, up marginally on the day.
|
| Gold futures surged by nearly $20 to reach around $2,360 per ounce in Asian electronic trading on Friday. Despite this jump, the precious metal is on track for a 2.5% decline, marking its first weekly drop in four months. Investor focus remains on the March Personal Consumption Expenditures (PCE) figures, scheduled for later in the day, which could provide clearer signals regarding the Federal Reserve's monetary policy stance. Investors are analyzing recent economic data for insights into the Fed's next moves, with the US GDP growth for the first quarter showing the slowest expansion in nearly two years. However, the increase in consumer inflation has fueled speculation that the Fed might maintain its current restrictive monetary policy for a longer period. In domestic markets, MCX futures surged towards Rs 71,700 per 10 grams.
|
| Indian Rupee slipped in early moves as weakness in the local equities weighed on the sentiments. The INR currently trades at 83.33 per US dollar, down 5 paise on the day. US dollar index is holding around two week low of 105.50 with the market completely focused on a key inflation reading due to come out today in evening. Meanwhile, the headline equity benchmarks traded with limited losses in mid-morning trade on weak overnight cues from the US equities. The Nifty traded below the 22,550 mark after hitting the day's high of 22,620.40 in early trade. At 11:30 IST, the barometer index, the S&P BSE Sensex, was down 145.20 points or 0.20% to 74,192.33. The Nifty 50 index lost 35.30 points or 0.16% to 22,535.05.
|
The dollar index stabilized around 105.6 on Friday, with investors adopting a cautious stance ahead of a crucial US inflation report for March. This release is expected to offer insights into the Federal Reserve's future monetary policy direction. On Thursday, the index dipped to nearly two-week lows following data indicating that the US economy expanded by an annualized 1.6% in the first quarter of 2024, marking its slowest growth in approximately two years. Despite this, underlying inflation showed signs of picking up during the same period. Additionally, the latest jobless claims data continued to signal a tight labor market, adding complexity to the outlook for potential Fed rate adjustments this year. The dollar remained under pressure against most major currencies, although it continued to hover near 34-year highs against the yen. The Bank of Japan's impending monetary policy decision added to the market's cautious tone, with investors closely monitoring any developments that could impact currency movements.
|
| The British pound continued to edge higher from a 5-month low against the dollar amid supportive UK equity markets and slackness in US dollar index. The GBPUSD is quoting at $1.2505, up 0.40% on the day and hitting around two week top. UK stocks hit record high on Thursday, on track for its third record closing high of the week. Meanwhile, the US dollar index maintained a subdued stance around 105.50 ? testing near one week low.Investors are carefully positioning themselves, recognizing the potential influence of upcoming data on the Federal Reserve's monetary policy trajectory.
|
| Rupee closed lower at 83.3275 per Dollar on Thursday (25 April 2024), versus its previous close of 83.3250 per Dollar.
|
| Gold futures recovered from earlier losses to rise above $2340 an ounce as investors awaited further US economic data for insights into the Federal Reserve's monetary policy direction. Market focus is on the first-quarter GDP data and Friday's March PCE report, especially after higher-than-expected consumer inflation shifted rate-cut expectations. Fed officials' recent comments suggest a delay in rate cuts, with the first hike likely in September. The commodity has retreated nearly 5% from its April 12 peak of $2448.80, driven by technical factors, geopolitical concerns, and the Fed's reduced rate cut expectations. MCX June gold futures bounced back above Rs 71000 mark, trading marginally higher.
|
| The Indian rupee eased a bit today but stayed in an overall choppy range. Local stocks are witnessing mixed movement amid lack of major economic cues. The INR trades at 83.36 per US dollar, down 3 paise on the day. The US dollar index is weak after falling under 106 mark and quotes around one week low of 106.50. INR could face pressure in intraday moves as the WTI Crude oil futures are staying supported after testing four week lows. WTI Crude currently quotes at 83.07 per barrel mark. Movement in local equities will also be likely volatile as traders roll over positions in the F&O segment from the near month April series to May series. The April 2024 F&O contracts will expire today, 25 April 2024.
|
| Amidst anticipation surrounding the release of US GDP data for the first quarter, the dollar index maintained a subdued stance around 105.8. Investors are carefully positioning themselves, recognizing the potential influence of this data on the Federal Reserve's monetary policy trajectory. Additionally, market attention is directed towards Friday's PCE price index report, offering further insights into inflation trends, a pivotal factor for the Fed. The prevailing sentiment reflects a subtle shift, with reduced expectations for rate cuts by both the ECB and the Federal Reserve this year, attributed to persistent inflationary pressures and indications of economic resilience in the US. While the dollar experienced recent declines against several major currencies, its ascent to fresh 34-year highs against the Japanese yen underscores the heightened anticipation for policy cues from the Bank of Japan.
|
| Rupee closed higher at 83.3250 per Dollar on Wednesday (24 April 2024), versus its previous close of 83.3475 per Dollar.
|
| Gold futures extended their slide as demand for safe-haven assets dwindled, spurred by easing tensions in the Middle East. Traders are closely eyeing the upcoming US March personal consumption expenditures data, which serves as a key indicator for the Fed's monetary policy decisions. The recent weaker-than-expected US PMI data, reflecting the slowest private sector growth since December, has alleviated concerns about the resilience of the US economy. Gold's retreat of nearly 5% from its April 12 peak of $2448.80 is attributed to a combination of technical selling, a relaxation of geopolitical tensions, and a reassessment of the expected number of rate cuts by the Fed this year. In the domestic market, June futures traded below the Rs 71,000 mark.
|
| The Indian rupee is witnessing very thin movement on Wednesday as supportive risk sentiment capped the downside for the local currency while a bounce in crude oil arrested the strengthening. WTI Crude oil futures rose above $83 per barrel on Wednesday morning in Asia as bargain buying stayed in place following the recent spate of losses to a four week low amid easing tensions about a wider fall out between Iran and Israel. Meanwhile, the Asian stock markets edged up on Wednesday, following the broadly positive cues from global markets overnight. The INR currently trades at 83.30 per US dollar, almost unchanged on the day. The US dollar index stays in a sluggish mode after falling under 106 mark and currently quotes at 105.66, up marginally on the day but not far from its one week low.
|
The dollar index steadies around flat line on Wednesday after the DXY futures pulled back considerably in the previous session. Disappointing US PMI data weighed on the greenback. US business growth slowed and signaled only a slight expansion in April as both manufacturing and services activities eased. However, hawkish tone from Fed and US benchmark treasury yields clinging to 4.06% officials is keeping the dollar supported. Currently, the dollar index futures are quoting at 105.54, marginally higher on the day. Investors now look ahead to US GDP data on Thursday and the Fed-preferred PCE price index report on Friday to better guide the monetary policy outlook.
|
| Rupee closed higher at 83.3475 per Dollar on Tuesday (23 April 2024), versus its previous close of 83.3825 per Dollar.
|
The Indian rupee extended recovery momentum to settle slightly higher by 3 paise to close at 83.33 (provisional) against the US dollar on Tuesday on positive domestic markets and a soft American currency. The benchmark S&P BSE Sensex ended the session up 89.83 points, or 0.12 percent, at 73,738.45, extending gains for a third straight session as fears of a wider conflict in the Middle East eased. The broader NSE Nifty index also rose 31.60 points, or 0.14 percent, to 22,368. Meanwhile, a sluggish dollar overseas and waning international crude oil prices also supported gains in the domestic unit. At the interbank foreign exchange market, the local unit opened at 83.37 against the greenback. The unit hit an intra-day high of 83.28 and a low of 83.39 against the greenback. The domestic unit finally settled at 83.33 (provisional) against the dollar, 3 paise higher from its previous close.
|
The Euro is steadying at an over five-month low against the dollar on Tuesday as dollar index continues to hover around 106 mark, making it difficult for the single common currency to bounce back. US benchmark treasury yields are also staying elevated at 4.6% tracking hawkish comments from Fed officials amid concerns over inflation. EURUSD pair is currently quoting at $1.0681, almost flat for the day. The pair attempted to pick up fresh bids above $1.07 mark in immediate reaction to mixed German PMI data but lost momentum after Eurozone manufacturing PMI contracted further in April. The Eurozone Manufacturing Purchasing Managers Index (PMI) came in at 45.6 in April, down from the 46.1 reading in March, lower than the market consensus of 46.5. The index slipped to a four-month low. The bloc?s Services PMI rose to 52.9 in April from 51.5 in March, hitting a fresh eleven-month high. Meanwhile, German Manufacturing PMI rose to 42.2 this month, compared with the 42.8 estimate and March?s 41.9. The index hit the highest level in two months. Services PMI jumped from 50.1 in March to 53.3 in April, beating the expected 50.6.
|
| Gold is slumping from record highs as focus on inflation and a firm US dollar are capping the upside in the yellow metal after a wild ride over last few weeks. The COMEX Gold futures slumped around 2.80% in last session as a break under $2400 per ounce led to excess selling pressure. Signs of easing fears of a wider Middle East conflict continued to weigh on the metal as prices drifted down further today. The counter currently trades at $2315 per ounce, down 1.30% on the day. These are the lowest levels in last three weeks for the commodity. Meanwhile, the broad focus will now shift on the release of the U.S. personal consumption expenditures (PCE) report on Friday. MCX Gold futures are trading at Rs 70481 per 10 grams, down 1% on the day. The counter melted 2.26% in last session, shedding 6.52% in the open interest and indicating steady long unwinding.
|
The dollar index has halted bullish momentum and continues to stay sluggish around 106 mark since mid-April even as benchmark US treasury yields are staying elevated at 4.6% amid hawkish tone by Fed officials as inflation in US remains stubborn. Upcoming US economic data for the week is keenly awaited for further cues on Federal course of action. Currently, the dollar index that measures the greenback against a basket of currencies is quoting at 106.03, marginally higher on the day. Persistently higher yields and hawkish Fed officials comments could likely drive the greenback higher. Moreover, any further escalation on the geopolitical from in Middle East could also support gains in safe haven currency. Among the basket currencies, EURUSD and GBPUSD are both trading at their lowest level in over five months at $1.0669 and $1.2342 respectively.
|
| The Indian rupee is witnessing modest losses today but stayed in a range amid positive cues from local equities. Meanwhile, broad economic cues were also supportive for the local currency. Economic growth across India's private sector continued to strengthen in April. According to the HSBC Flash India PMI data, positive demand trends fueled new business intakes and output. In both cases, rates of expansion were the fastest in close to 14 years. Rising from 61.8 in March to 62.2 in April, the headline HSBC Flash India Composite PMI Output Index ? a seasonally adjusted index that measures the month-on-month change in the combined output of India's manufacturing and service sectors ? indicated the fastest rate of increase in aggregate business activity since mid-2010. INR is currently quoting at 83.38 against the US dollar, down 2 paise on the day after testing 83.30 mark in intraday trades. The US dollar index holds around 106 mark amid lack of major US economic cues and continued worries over Middle East.
|
|
|