Rupee gains as dollar slides on U.S. data backing slower rate hikes



By Anushka Trivedi

MUMBAI, Dec 2 (Reuters) - The Indian rupee rose on Friday, but gains were capped due to dollar demand amid a slump in the greenback after U.S. data overnight reaffirmed expectations of a slowdown in the pace of rate hikes by the Federal Reserve.

The rupee INR=IN edged up 0.05% to 81.1725 per dollar by 10:22 a.m. IST, and was headed towards weekly gains of 0.7%.

Oil importers sought dollars, while there was also fixing-related dollar demand by foreign banks, which likely weighed on the rupee, said a trader with a private bank.

The overall tone of the markets was quite subdued, with most Asian currencies gaining marginally and stocks declining across the board ahead of U.S. non-farm payrolls data, another big test for investors looking for signs of a shift in the Fed's monetary policy.

Indian equities .NSEI shed 0.5%, set for their first drop in nine sessions.

The dollar index =USD nursed heavy losses, having declined 1.2% overnight after the Fed's preferred inflation measure, core personal consumption expenditures (PCE) price index, softened in October.

U.S. manufacturing activity contracted for the first time in 2-1/2 years, with both datasets adding to the prospect that the Fed could opt for a 50 basis point (bps) rate hike at its next policy meeting in two weeks.

Fed Chair Jerome Powell had already signalled earlier this week that the U.S. central bank could slow its pace of rate hikes by as soon as this month.

Meanwhile, in China, sources told Reuters that Beijing is set to announce an easing of its COVID-19 quarantine rules in the coming days and a reduction in mass testing.

This was a marked shift in policy after anger over the world's toughest curbs fuelled widespread protests that fuelled worries about the country's growth and its trickle-down effect on the global economy.
Reporting by Anushka Trivedi in Mumbai; Editing by Savio D'Souza

免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。

所有缐上交易平台所發佈的資料,僅適用於教育/資訊類用途,不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議,或是交易價格紀錄,或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。

本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。

我們運用 cookies 提供您最佳之網頁使用經驗。更改您的cookie 設定跟詳情。

風險提示:您的資金存在風險。槓桿商品並不適合所有客戶。請詳細閱讀我們的風險聲明