WIDGETS / TEMPLATES

EforexIndia's Live Currency Converter


Live Forwards


IndiaFX and GlobalFX


IndiaFX

The Rupee opened weak on Tuesday, with the rise in U.S. Treasury yields adding to the strain a day after the Reserve Bank of India's intervention prevented the currency from slipping past 90. The rupee's slide picked up pace on Monday after it broke past 89.50, a level the RBI had previously defended, triggering small stop-loss orders and a burst of accelerated dollar buying from importers. That combination pushed the rupee to a record low of 89.7575, extending recent weakness. Bankers said stepped-up RBI intervention ultimately halted the slide, preventing a break past the key 90 level and curbing a deeper selloff. The rupee's drop on Monday stood out all the more because it came despite India's stellar gross domestic product (GDP) print and on a day when Asian cues were not exerting downward pressure. U.S. Treasury yields climbed on Monday, tracking a jump in Japanese rates amid traders ramping up bets that the Bank of Japan (BOJ) will raise interest rates this month. Japan's two-year yield, the maturity most sensitive to BOJ policy, topped 1% for the first time since 2008, while the 10-year hit a 17-year high. The U.S. dollar remained under pressure on Tuesday as weaker-than-expected manufacturing activity data from the world's biggest economy heaped pressure on the Federal Reserve to cut interest rates at its policy meeting later this month. The U.S. dollar index , which measures the greenback's strength against a basket of six major peers, edged lower to 99.408 at the start of the Asian trading session after falling for a seventh consecutive session to hit a two-week low during U.S. trading hours on Monday as stocks and bonds pulled back. Fed funds futures are pricing in an implied 88% probability of a 25-basis-point cut at the U.S. central bank's next meeting on December 10, compared to a 63% chance a month ago, according to the CME Group's FedWatch tool. The yield on the U.S. 10-year Treasury bond was last up at 4.086% after a selloff in global bond markets on Monday. Against the yen, the dollar traded at 155.51 yen , unchanged from late U.S. levels, after Bank of Japan Governor Kazuo Ueda said on Monday that the central bank would consider the pros and cons of raising interest rates at its next policy meeting, sending Japanese two-year yields above 1% for the first time since 2008. The euro stood at $1.1610 , holding steady so far in Asia, as talks to end the war in Ukraine continued, with European leaders rallying around Ukrainian President Volodymyr Zelenskiy after an earlier U.S.-backed peace proposal that favoured Russia, while the U.S. special envoy headed to Moscow for more talks with the Kremlin. Sterling traded at $1.3216 , near its highest levels in a month but little changed so far on the day. The head of Britain's fiscal watchdog resigned on Monday after the agency inadvertently released key details of the government's annual tax and spending budget last week before finance minister Rachel Reeves announced them in parliament. The Australian dollar fetched $0.6544 , while the kiwi dollar traded at $0.5727 , both little changed at the start of the Asian trading session. Oil prices climbed in early trade on Tuesday for a second consecutive session as market participants assessed risks stemming from Ukrainian drone strikes on Russian energy sites and mounting U.S.-Venezuela tensions. Brent crude futures rose 14 cents, or 0.2%, to $63.31 a barrel by 0102 GMT. U.S. West Texas Intermediate crude gained 18 cents, or 0.3%, to $59.50 a barrel.......
More

GlobalFX

The US dollar weakened sharply against other major currencies after data showed that the US economy suffered a record contraction in Apr-Jun, while jobless claims rose in the week ended Saturday also rose.The US unit also extended its decline globally on Thursday after Trump raised the possibility of delaying presidential election in the US, scheduled for November.European Stocks ended lower on Thursday due to mounting concern over sluggish economic recovery and a possible second wave of the COVID-19 pandemic.Germany reported its worst decline in GDP since 1970, with the Eurozone’s largest economy shrinking 10.1% quarter-on-quarter in Apr-Jun.Corporate earnings were high on investors' agenda on Thursday.In the US, Most share indices ended lower on Wednesday following bleak economic data.Lack of progress in talks between Congressional Democrats, Republicans and the White House on a new coronavirus aid package also weighed on sentiment.Gold futures settled lower on Thursday after nine consecutive days of gains, with the bullion retreating from a record rally as traders booked some profit.......
More

Live Marquees

EforexIndia

Netanyahu seeks pardon in years-long corruption trial

Mourners flock to Hong Kong blaze site, China warns against protests

Tropical storm deaths top 600 in Southeast Asia, over 4 million affected

US sees progress after talks in Florida with Ukraine, but more work needed to reach deal

Venezuela's National Assembly to investigate US boat strikes

India's stellar growth, low inflation raise questions over rate cuts

India to pitch new arms deal with Russia during Putin visit, Bloomberg News reports

Forex Talk