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International Forex Market Trends and Rates for USD, Euro and Pounds provided below was last updated on Feb 08 ~ 17:00 - Indian Standard Time.
Trend Indicators against INR
- - - - - - - - - - - - - - -USD - - - - - - - -EURO - - - - - - - -GBP - - - - - -
Previous day--- -67.77/67.9850----73.801/74.374-----97.345/98.217-------
Today range ------68.00/68.40-----------------------------------------------
& current month--67.25/68.40----------------------------------------------
The Indian rupee closed weaker against the U.S. Dollar, tracking a sell-off across most Asian peers, as oil price resumed its slide, hurting global risk appetite. However, suspected intervention by the central bank limited losses in the currency. The rupee closed at 67.9750/67.9850 against the previous day close of 67.84/67.85..
SPOT/INR:The Indian rupee opened weaker at 68.19/20 against the U.S. dollar tracking its Asian peers, as a persistent slide in crude oil prices exacerbated worries of a global economic growth slowdown, weighing on risk appetite.
FORWARD PREMIUM: Forward dollar/rupee premium are likely to take cues from the spot.
GLOBAL DEVELOPMENTS:Asian shares tumbled on Wednesday as oil prices dropped for a third day, prompting investors to seek shelter in safe-haven assets and lifting bonds and gold to multi-month highs. The MSCI's broadest index of Asia-Pacific shares outside Japan fell 2.1 percent led by a 3.0 percent fall in Hong Kong shares. Japan's Nikkei lost 3.4 percent, wiping out almost all of its gains made after the Bank of Japan had announced the introduction of negative interest rates on Friday. Overnight, the U.S. S&P 500 index fell 1.9 percent. Brent crude futures LCOc1, the world's oil benchmark, fell 0.1 percent to $32.70 per barrel, extending losses so far this week to more than 6 percent. U.S. crude futures CLc1 slipped 0.5 percent. Oil prices have fallen about 70 percent in the past 18 months, largely due to a growing supply glut but also exacerbated by cooling economic growth in China and other emerging markets. The gloom pervading markets bolstered the allure of government debt. As U.S. debt prices jumped, the 10-year U.S. yield hit a 10-month low of 1.828 percent. Uncertainty around global growth has prompted investors to slash back their expectation of future U.S. rate hikes, with Federal funds rate futures now pricing in only about a 50 percent chance of just one rate hike this year. Gold hit a three-month high of $1,130.90 per ounce on Tuesday and last stood at $1,128.3. The U.S. ISM non-manufacturing PMI is expected to dip to 55.1 in January from 55.8 in December. That would be the lowest reading in almost two years but still above the 50 mark that separate contraction and expansion.
TODAY'S ECONOMIC DATA:GB Halifax House Prices data at 13.30 IST, IT Markit PMI data at 14.15 IST, FR Markit Serv PMI data at 14.20 IST, GB Markit Serv PMI data at 15.00 IST, US Mortgage Market Index data at 17.30 IST and US ADP National Employment data at 18.45 IST.
NEAR TERM OUTLOOK FOR RUPEE:The Rupee is expected to continue as weaker against greenback.
POSITIVE FACTORS FOR RUPEE:
1. Heavy inflows in both equity and debt markets.
FACTORS AGAINST RUPEE:
1. Demand from importers. (Oil & Defence)
2. Current Account deficit.
3. Fed's interest rate hike
|Currency||For Export||For Import||Month||For Export||For Import|
|Indicative Rates||Indicative Forward Rates|
|USD||68.19 66.79||68.20||FEB 2015||68.19||68.56|
|Indicative Cross Rates||MAR 2016||68.44||68.92|
Note: This information is given only for guidance purpose without any obligation on the part of TMB or any of its officials. Any person dealing on the basis of the said information does so at his own risks and no objection arises to TMB or any of its officials. All such trading involves risks.
Exchange Rates Information last updated in part or full on Wednesday, February 03, 2016 - 10:44 am (GMT +05:30:00) for ready transactions. All quotations are per unit of Foreign Currency (Japanese Yen in 100 Units).
|Currency||CCY Buying||CCY Selling||TC Buying||TC Selling|
Prime Rates for US Dollar w.e.f. December 18, 2008 is 3.25%
|Currency||1y - <2y||2y - <3y||3y - <4y||4y - <5y||5y|
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