Investors eagerly anticipate the release of U.S. labor market data and minutes from the Federal Reserve's recent policy meeting. Both BSE Sensex and Nifty 50 ended the session at record highs, reflecting positive market sentiment.
The Indian rupee will trade within the narrowest range in nearly three decades over the coming year as the Reserve Bank of India (RBI) continues to maintain its tight grip on the currency's movements, according to a Reuters poll.
The Australian dollar rose on retail sales data, suggesting a Reserve Bank rate hike, while China's yuan hit an eight-month low due to local authorities' currency tolerance.
Rupee under pressure as economy cools and FX reserves build up. Investors expect U.S. rate cuts, impacting rupee. Despite importers' dollar demand, rupee may strengthen with inflows. Interest rate futures hint at rate cuts ahead, influencing market sentiment.
Indian rupee weakens as Asian currencies fall amid strong dollar demand. US bond yield rise impacts currencies, with Chinese yuan and Korean won leading losses.
Markets react to the Federal Reserve's uncertain policy outlook as the dollar's index strengthens. JOLTS job openings data release creates anticipation in the market, impacting offshore yuan's trading, marking a volatile market sentiment.
The central government's fiscal deficit reached 3% of the annual estimates by May-end 2024-25. India's forex reserves surged to USD 653.711 billion, with FIIs selling shares worth Rs 23.09 crore. The RBI confirmed the increase in reserves, reflecting a positive economic outlook.
The healthy expansion in infrastructure sectors' growth in May was driven by the production of coal, natural gas, and electricity, amidst rising crude oil prices impacting the rupee and positive equity market sentiment.