Daily

Daily Currency Market Update:


HIGHLIGHTS:

The U.S. dollar index versus a basket of six major currencies was a shade lower at 95.63, having plumbed an overnight low of 95.57 after the Fed last week laid the groundwork for a potential rate cut as early as next month. That weighed on the dollar and in turn reinvigorated its counterparts such as the euro, which has had troubles of its own including Italy's debt problem and the possibility of the European Central Bank having to ease policy. "It is true that the ECB may have to ease policy especially with the Fed having shifted to an easing bias," said Yukio Ishizuki, senior currency strategist at Daiwa Securities. "But the ECB already employs a negative interest rate policy and does not have much further room to ease even if they wanted to, unlike the Fed. It is factors like these which have seemingly supported the euro." The dollar edged up 0.14% to 107.44 yen after hitting a near six-month low of 107.04 on Friday. The U.S. currency was pressured further against the yen, which often serves as a safe haven in times of political angst, as tensions grew between Iran and the United States.

Tags: Technical


Search Reports

SEARCH

Open an account

OPEN AN ACCOUNT

Reports

Daily Market Update...

Nifty opened on a subdued...

Read More

Daily Market Update...

In coming trading session if...

Read More

Daily Market Update...

Nifty opened higher and...

Read More

Daily Market Update...

Nifty opened higher traded...

Read More

Daily Market Update...

Nifty opened higher traded...

Read More

OBEROI REALTY

SHORT TERM TRADING CALL: BUY...

Read More

TVS Motor Ltd Q2FY20...

TVS Motors (TVS) reported...

Read More

Mindtree Q2FY20 Result...

Mindtree reported stable set...

Read More

ACC Ltd Q3CY19 Result...

ACC reported good set of...

Read More

AxisCades Engg....

AXISCADES Engineering...

Read More

Subscribe to newsletter

Request a call back

DISCLAIMER: This document has been prepared by Arihant Capital Markets Limited (hereinafter called as Arihant) and its subsidiaries and associated companies. This document does not constitute an offer or solicitation for the purchase and sale of any financial instrument by Arihant. This document has been prepared and issued on the basis of publicly available information, internally developed data and other sources believed to be reliable. Whilst meticulous care has been taken to ensure that the facts stated are accurate and opinions given are fair and reasonable, neither the analyst nor any employee of our company is in any way is responsible for its contents and nor is its accuracy or completeness guaranteed. This document is prepared for assistance only and is not intended to be and must not alone be taken as the basis for an investment decision. All recipients of this material should before dealing and or transacting in any of the products referred to in this material make their own investigation, seek appropriate professional advice. The investments discussed in this material may not be suitable for all investors. The recipient alone shall be fully responsible/are liable for any decision taken on the basis of this material. Arihant Capital Markets Ltd (including its affiliates) or its officers, directors, personnel and employees, including persons involved in the preparation or issuance of this material may; (a) from time to time, have positions in, and buy or sell or (b) be engaged in any other transaction and earn brokerage or other compensation in the financial instruments/products discussed herein or act as advisor or lender/borrower in respect of such securities/financial instruments/products or have other potential conflict of interest with respect to any recommendation and related information and opinions.