Euro’s status languishes as dollar still king after 25 years
While the fall in euro usage and corresponding jump in dollar dominance may have been overdone last year, any correction is likely to be modest until the geopolitical air clears. Some of the loss of status and relevance for the euro will be permanent
Buy USDINR; target of : 83.25 : January 24, 2024: ICICI Direct
ICICI Direct, Rupee edged lower on Monday amid strong dollar and weakness in domestic markets. US dollar index rallied to its one-month high on diminishing hopes of early US rate cut.
Buy USDINR; target of : 83.20 : January 23, 2024: ICICI Direct
ICICI Direct, Rupee appreciated on Friday aided by dollar sales from foreign banks, but it ended the week on the loosing side amid moderation in US rate cut expectation and outflow from equity.
Rupee ends flat, wedged between Asia FX bump and foreign banks' dollar buys
The rupee closed at 83.1225 against the U.S. dollar, barely changed from its close at 83.1375 in the previous session.
Buy GBPINR; target of : 105.70 : January 18, 2024: ICICI Direct
ICICI Direct, Pound reversed its losses and gained more than 0.30% yesterday after the inflation numbers marked 4%, dragging back the probability of rate cuts further.
Buy USDINR; target of : 83.25 : January 17, 2024: ICICI Direct
ICICI Direct, Rupee depreciated for the first time in this week amid strong rebound in the dollar and increasing signs that global central banks may have to delay the timing of interest rate cuts.
Buy USDINR; target of : 83.10 : January 16, 2024: ICICI Direct
ICICI Direct, Rupee strengthened again on Monday aided by strong domestic equities and FII inflows.
Buy EURINR; target of : 91.20 : January 15, 2024: ICICI Direct
ICICI Direct, Euro slipped marginally by 0.21% on Friday amid weakness in the treasury yields and weaker economic numbers from the Eurozone.
Buy GBPINR; target of : 106.40 : January 12, 2024: ICICI Direct
ICICI Direct, Pound is expected to hold its gains and move towards 1.2800 amid weak dollar and expectation of better GDP numbers.
Buy EURINR; target of : 91.30 : January 11, 2024: ICICI Direct
ICICI Direct, Euro gained yesterday largely due to weakness in the dollar. Further improved economic numbers from the Euro zone and hawkish comments from ECB members pushed the bond yields higher.
Buy EURINR; target of : 91.40 : January 09, 2024: ICICI Direct
ICICI Direct, Euro rose on Monday by 0.08% amid softness in the dollar and improved Eurozone economic Dec economic confidence to an 8-month high.
Buy EURINR; target of : 91.40 : January 08, 2024: ICICI Direct
ICICI Direct, Euro slipped marginally by 0.03% on Friday amid strong dollar and negative domestic markets.
Rupee ends higher aided by dollar inflows, little changed on week
The rupee closed at 83.15 against the U.S. dollar, higher by 0.1% compared with its close at 83.23 in the previous session.
Rupee closes slightly higher supported by dollar inflows
The rupee ended at 83.23 against the U.S. dollar, higher by 0.05% compared with its close at 83.2750 in the previous session.
US dollar rises to two-week peak, tracking Treasury yields
Analysts said the risk-off mood was also in part driven by concerns over escalating geopolitical tensions after Hamas deputy leader Saleh al-Arouri was killed in a drone strike in Lebanon’s capital Beirut on Tuesday.
Sell EURINR; target of : 91.20 : January 03, 2024: ICICI Direct
ICICI Direct, Euro slipped by 0.89% yesterday amid strong dollar and risk aversion in the global markets. Further, economic concerns weighed on single currency.
Dollar set for biggest daily jump since October as U.S. yields rebound
Markets are now pricing in an 82% chance of interest rate cuts from the Fed to start from March, according to CME FedWatch tool, with over 150 basis points (bps) of easing anticipated this year.
Sell USDINR; target of : 83.15 : January 02, 2024: ICICI Direct
ICICI Direct, Rupee depreciated marginally yesterday amid muted domestic market sentiments and dollar demand from importers.
Sell USDINR; target of : 83.09 : December 29, 2023: ICICI Direct
ICICI Direct, Rupee appreciated yesterday amid weak dollar and decline in crude oil prices. Further, rupee gained strength on rise in risk appetite in the domestic markets and persistent FII inflows.
Buy EURINR; target of : 92.90 : December 27, 2023: ICICI Direct
ICICI Direct, Euro moved up by 0.57% yesterday amid weakness in dollar and rise in risk appetite in the global markets.
Sell USDINR; target of : 83.15 : December 27, 2023: ICICI Direct
ICICI Direct, Rupee depreciated yesterday amid month end dollar demand from importers and FII outflows.
Dollar edges lower, index on track for worst year since 2020
Data on Friday showed U.S. prices fell in November for the first in more than 3-1/2 years, pushing the annual increase in inflation further below 3% and boosting expectations of an interest rate cut in March.
Rupee falls 3 paise to settle at 83.19 against US dollar
A positive equity market sentiment and softer crude oil prices, however, provided a cushion and restricted the fall in the Indian currency, forex traders said.
Sell USDINR; target of : 83.10 : December 22, 2023: ICICI Direct
ICICI Direct, Rupee depreciated yesterday amid dollar demand from importers and rise in crude oil prices.
Sell GBPINR; target of : 104.80 : December 21, 2023: ICICI Direct
ICICI Direct, Pound is likely to slip towards 1.2580 level as UK CPI data showed inflation eased in November, prompting market to bring forward their expectations of BOE rate cuts.
