The Indian rupee may open largely unchanged or slightly higher to the U.S. dollar on Monday, amid positive momentum from last week and data that boosted chances that the U.S. Federal Reserve may hike rates at its next meeting.
Non-deliverable forwards indicate rupee will open at around 81.84-81.88 to the dollar, compared with 81.8850 in previous session.
"U.S. jobs has helped arrest the dollar's slide, but then there will be few buyers at least at open, based on rupee's near-term trend," a trader at a private sector bank said. "The labor market remains tight and combined with our expectation for a 0.39% month-on-month increase in core CPI , we continue to expect the Fed to deliver 25bp at the May meeting," Morgan Stanley said in a note.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
OPEC's surprise production cut complicates the Fed's fight against inflation | CNN BusinessA surprise production cut announcement this week from Saudi Arabia and several other OPEC+ oil producers complicates the Federal Reserve's mission to cool the economy and could worsen inflation in the United States, economists say.
Read more »
The US economy is still creating problems for the FedIndicators like a rise in initial jobless claims, a drop in open job listings, and layoff increases all suggest a slowing in the labor market — and the economy — that is consistent with the Fed being able to back off its rate hikes.
Read more »
EUR/USD stays defensive around 1.0900 despite hawkish ECB, US inflation, Fed Minutes eyedEUR/USD stays defensive around 1.0900 despite hawkish ECB, US inflation, Fed Minutes eyed – by anilpanchal7 EURUSD ECB Fed Inflation RiskAppetite
Read more »
NZD/USD slides to 0.6250 on China-Taiwan tension, focus on key inflation data, Fed MinutesNZD/USD begins the trading week on a back foot as it drops to 0.6250 amid geopolitical fears emanating from China and Taiwan. Adding strength to the K
Read more »
USD/JPY drives to 132.50 as US Employment data supports more rate hikes from FedThe USD/JPY pair has extended its recovery after a nominal correction to 132.50 in the Asian session amid hopes of further escalation in interest rate
Read more »
Asian shares subdued as jobs data raises odds of Fed rate hikeSome analysts see a disconnect between the Fed's likely path and market expectations.
Read more »