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USD/INR strengthens amid the US Dollar recovery
The post USD/INR strengthens amid the US Dollar recovery appeared on BitcoinEthereumNews.com. The Indian Rupee loses traction during Monday’s Asian session. The stronger USD, foreign outflows and the concerns about the Indian economic slowdown weigh on the INR. The Fed rate decision will take center stage on Friday. The Indian Rupee (INR) edges lower on Monday after posting its biggest weekly gain in nearly 17 months in the previous session. The weakening in the US Dollar (USD) after US President Donald Trump refrained from immediately imposing tariffs on key trading partners supporting the local currency. Furthermore, the Reserve Bank of India’s (RBI) intervention in the foreign exchange market and lower crude oil prices could help limit the INR’s losses. Nonetheless, the renewed Greenback demand from importers, Foreign Portfolio Investors (FPIs) outflows from the Indian stock market and concerns about an economic slowdown in India could exert some selling pressure on the INR. All eyes will be on the US Federal Reserve (Fed) interest rate decision on Wednesday, with no change in rate expected. Traders will take a cue from the Press Conference about the US interest rate outlook this year. Indian Rupee seems fragile amid global economic outlook and macroeconomic headwinds The preliminary reading of HSBC India Manufacturing Purchasing Managers Index (PMI) improved to 58.0 in January from 56.4 in December. The Indian Services PMI eased to 56.8 in January versus 59.3 prior. The Composite PMI declined to 57.9 in January versus 59.2 prior. “India’s manufacturing sector started the year strong, with output and new orders bouncing back from a relatively weak third fiscal quarter. The rise in new export orders was especially noticeable, and the easing of input cost inflation is also good news for manufacturers,” said Pranjul Bhandari, chief India economist at HSBC. The US S&P Global Composite PMI eased to 52.4 in January from 55.4 in December. The US…
The post USD/INR strengthens amid the US Dollar recovery appeared on BitcoinEthereumNews.com.
The Indian Rupee loses traction during Monday’s Asian session. The stronger USD, foreign outflows and the concerns about the Indian economic slowdown weigh on the INR. The Fed rate decision will take center stage on Friday. The Indian Rupee (INR) edges lower on Monday after posting its biggest weekly gain in nearly 17 months in the previous session. The weakening in the US Dollar (USD) after US President Donald Trump refrained from immediately imposing tariffs on key trading partners supporting the local currency. Furthermore, the Reserve Bank of India’s (RBI) intervention in the foreign exchange market and lower crude oil prices could help limit the INR’s losses. Nonetheless, the renewed Greenback demand from importers, Foreign Portfolio Investors (FPIs) outflows from the Indian stock market and concerns about an economic slowdown in India could exert some selling pressure on the INR. All eyes will be on the US Federal Reserve (Fed) interest rate decision on Wednesday, with no change in rate expected. Traders will take a cue from the Press Conference about the US interest rate outlook this year. Indian Rupee seems fragile amid global economic outlook and macroeconomic headwinds The preliminary reading of HSBC India Manufacturing Purchasing Managers Index (PMI) improved to 58.0 in January from 56.4 in December. The Indian Services PMI eased to 56.8 in January versus 59.3 prior. The Composite PMI declined to 57.9 in January versus 59.2 prior. “India’s manufacturing sector started the year strong, with output and new orders bouncing back from a relatively weak third fiscal quarter. The rise in new export orders was especially noticeable, and the easing of input cost inflation is also good news for manufacturers,” said Pranjul Bhandari, chief India economist at HSBC. The US S&P Global Composite PMI eased to 52.4 in January from 55.4 in December. The US…
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