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You can see the latest forex market movement trends updated frequently during forex trading hours. International Forex Market Trends and Market Analysis Report are provided by our professional forex trade dealing professionals and research team for the benefit of all our forex customers.

International Forex Market Rates for USD, Euro and GBP provided below was last updated on Sep 06 ~ 10:00 - Indian Standard Time

Trend Indicators against INR

"The Indian rupee opened stronger against U.S.Dollar at 83.95/83.96,finding little relief from the U.S. dollar's decline before crucial data that is likely to shape the Federal Reserve's upcoming interest rate decision. USD/INR range for the day is 83.85 to 84.10 and for this month is 83.40 to 84.20."

The Indian Rupee closed weaker at 83.98/83.99 against its previous close of 83.96/83.97,but was little changed versus the previous session, as the central bank's intervention helped negate the incessant dollar demand from importers.

Asian shares clung to tight ranges and the dollar nursed losses on Friday, with investors on tenterhooks ahead of U.S. jobs data that could decide the size and speed of coming rate cuts in the world's largest economy. As of now, oil prices are staring down their worst week in more than a year to hover just above a critical chart level, with their near-term fate depending on the payrolls report due later in the day. MSCI's broadest index of Asia-Pacific shares outside Japan edged 0.2% higher, having fallen 2.3% so far this week. The Nikkei slipped 0.1% to be down 3.9% for the week. There is a lot riding on the U.S. non-farm payrolls report after the Federal Reserve Chair Jerome Powell said policymakers do not welcome any further weakening in the labour market, laying the ground for a September rate cut. Analysts are looking for a rise of 165,000 in new jobs and a dip in the unemployment rate to 4.2%. However, risks are now to the downside after soft job openings and fewer job gains in the private sector led markets to ramp up the chance of a half-point cut from the Fed to 42% this month. Influential Fed governor Christopher Waller and New York Fed President John Williams will be speaking after the jobs data, giving the market a near-instant reaction. Analysts at ING said even if the payrolls come in line with expectations, markets might still scale back the chance of a 50 basis point cut. Bonds rallied earlier in the week, although gains could quickly reverse depending on the payrolls data. Two-year Treasury yields fell 17 basis points so far this week to 3.7520%, the lowest since early 2023. Ten-year yields were down 18 bps to 3.7330%, with the spread over two years on the verge of turning positive. Oil is facing the worst week since October 2023 as demand worries weighed against a big withdrawal from U.S. inventories and a delay to output increases by OPEC+ producers. The supply issues failed to elicit a jump in crude prices. Brent crude futures steadied on Friday, up 0.2% to $72.8 a barrel, but were down 7.6% so far in the week. They were pinned near a key range of $70 to $71, a break of which would open the way to levels not seen since late 2021. Gold was flat at $2,514 an ounce, just a touch below its record high.

FACTORS AGAINST RUPEE :

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 / her own risks and no obligation arises to TMB or any of its officials. All such trading involves risks.

Exchange Rates Information last updated in part or full on Friday, September 06,2024 - 10:00 AM (IST) for ready transactions. All quotations are per unit of Foreign Currency except Japanese Yen, which is quoted for 100 Units

The currency rates given herein are only for reference and convenience. The bank has taken due care and caution in compilation of data given herein. The bank however does not guarantee the accuracy, adequacy or completeness of the data and is not responsible for any errors or omissions or for the results obtained from use of such information / data. The bank has no financial liability whatsoever to any user on account of the use of information / data provided in this page.