Marketscreener.com on Nostr: Rupee may inch up on muted reaction in Asia to Fed pushback ========== The Indian ...
Rupee may inch up on muted reaction in Asia to Fed pushback
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The Indian rupee may open marginally higher on Thursday after peers did not react much to the pushback from the Federal Reserve on March rate cuts. Non-deliverable forwards indicate the rupee will open at 83.02 to the U.S. dollar, compared with 83.0425 in the previous session. Asian currencies "have not reacted much" to the Fed outcome and momentum should help rupee move higher at open. Odds that the Fed will slash interest rates at its March meeting were down to 1-in-3 after Chair Jerome Powell said that he does not consider it likely that policymakers will reach a level of confidence by the time of the meeting to begin cutting interest rates. Asian currencies were mixed, while the dollar index dipped. The selloff in U.S. equities alongside weak U.S. private payrolls pushed back the 10-year yield to below 4%. India's finance minister will lay out the federal budget at 11.00 a.m IST for the fiscal year starting April 1.
#IndianRupee #FederalReserve #RateCuts #AsianCurrencies #Budget
https://www.marketscreener.com/quote/currency/EURO-US-DOLLAR-EUR-USD-4591/news/Rupee-may-inch-up-on-muted-reaction-in-Asia-to-Fed-pushback-45858399/
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The Indian rupee may open marginally higher on Thursday after peers did not react much to the pushback from the Federal Reserve on March rate cuts. Non-deliverable forwards indicate the rupee will open at 83.02 to the U.S. dollar, compared with 83.0425 in the previous session. Asian currencies "have not reacted much" to the Fed outcome and momentum should help rupee move higher at open. Odds that the Fed will slash interest rates at its March meeting were down to 1-in-3 after Chair Jerome Powell said that he does not consider it likely that policymakers will reach a level of confidence by the time of the meeting to begin cutting interest rates. Asian currencies were mixed, while the dollar index dipped. The selloff in U.S. equities alongside weak U.S. private payrolls pushed back the 10-year yield to below 4%. India's finance minister will lay out the federal budget at 11.00 a.m IST for the fiscal year starting April 1.
#IndianRupee #FederalReserve #RateCuts #AsianCurrencies #Budget
https://www.marketscreener.com/quote/currency/EURO-US-DOLLAR-EUR-USD-4591/news/Rupee-may-inch-up-on-muted-reaction-in-Asia-to-Fed-pushback-45858399/