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The Rupee opened weaker on Tuesday as uncertainty over U.S.-Iran peace talks keeps oil prices volatile, ?while persistent foreign selling of Indian stocks heaps additional pressure. Despite persistent portfolio outflows and oil prices holding in the vicinity of $100 per barrel, the rupee has averted ?notable depreciation in recent sessions due to firm central bank interventions in the ?foreign exchange markets, per traders. Overseas investors have net sold about $2.5 billion ?worth of Indian stocks in the last two trading sessions, according to exchange data. Since ?the Iran war began in late February, the outflow tally stands at nearly $25 billion. Brent crude ?oil prices held on to most of the previous session's sharp gains in early Tuesday trade, on uncertainty around talks between the United States and Iran. The firm expects the Indian central bank to hike rates by 25 bps later ?this week, even ?as a majority ?of economists polled by Reuters see the Reserve Bank of India keeping policy rates unchanged. Moves in other Asian currencies were subdued while regional stock markets traded mixed. ?Equity futures signalled Indian stocks are poised for a weaker start. The ?U.S. dollar steadied on Tuesday as markets took a wait-and-see approach to Middle East peace talks, with Lebanon ?announcing a limited ceasefire between Hezbollah and Israel, although broader geopolitical uncertainties kept traders on edge. The dollar index, which measures the currency against six peers, eased from earlier gains after the ?Lebanon announcement on Monday. While the agreement signalled a degree of de-escalation, it remains limited against the backdrop of a wider regional ?conflict that has disrupted oil flows through the Strait of Hormuz. The dollar index was flat at 99.17, while the euro was 0.03% higher at $1.1634 and sterling gained 0.07% to $1.346. The greenback had rallied at the onset of the conflict, which began on February 28, buoyed by safe-haven demand and the U.S. economy's relatively limited ?exposure to energy-driven inflation. However, it has given back some of those gains due to uncertainty surrounding the conflict's trajectory. The Japanese ?yen was ?0.02% lower against the greenback at 159.66 per dollar following Katayama's remarks, with the 160 level widely seen by markets as a trigger for intervention. The release on Friday of the monthly U.S. employment report could help ?sway the ?Fed's policy path in the near term. The data are expected to show ?a gain of 85,000 jobs in May and no change in the current 4.3% unemployment rate, according to a Reuters poll of economists. The Australian dollar added 0.1% to $0.7162 versus ?the greenback, while New Zealand's kiwi gained 0.07% to $0.5933. Oil prices held on to most of the previous session's sharp gains in early trade on Tuesday on uncertainty over the status of ceasefire talks between the United States and Iran and the potential reopening of the ?Strait of Hormuz. Brent crude futures inched up 6 cents, or 0.06%, to $95.04 a barrel at 0001 GMT, while U.S. West Texas Intermediate fell 17 cents, or 0.18%, to $91.99 a barrel.......
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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.......
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