The Indian rupee was headed lower against the dollar on Monday after a better-than-expected U.S. jobs report prompted investors to bet on more Federal Reserve rate increases.
Goldman Sachs's call for no rate cuts this year compares to CME futures indicating shallow rate cuts later this year.
The 2-year Treasury yield rose more in Asia trading, reaching 4.35%. It is now almost 30 bps higher from last week's low.It was quite likely that rupee could fall below 82.50 on Monday, considering the extent of the losses in Asian currencies, a currency trader at a Mumbai-based bank said. "Oil prices are a big positive for the rupee, but we doubt that will have a large impact," the trader said.** One-month non-deliverable rupee forward at 82.46; onshore one-month forward premium at 12 paise** Dollar index at 103.140** SGX Nifty nearest-month futures down 0.1% at 17,829** NSDL data shows foreign investors bought a net $118.1 mln worth of Indian bonds on Feb. 2
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
An unexpected job surge confounds the Fed's economic modelsThe past year's consistently robust hiring gains have also defied the fastest increase in the Fed's benchmark interest rate in four decades.
Read more »
Texas is well-positioned to weather a potential national recession, Dallas Fed economist saysDespite worries of a national recession, Texas’ robust labor force and strong energy sector could help it fare relatively well in a potential 2023 slowdown.
Read more »
Wall Street ends down after stunning jobs growth raises Fed questionsMajor U.S. stock indexes ended lower on Friday after surprisingly strong jobs data sparked concerns about aggressive Federal Reserve action, while investors digested a mixed bag of megacap company earnings reports.
Read more »
Stock market today: Dow slips as jobs gains deliver big blow to Fed pause bets By Investing.com*STOCKS END WEEK LOWER AS STRONG JOBS DATA DELIVERS BIG BLOW TO FED PAUSE BETS
Read more »
Friday's Surprisingly Positive Jobs Report Does Not Mean Fed Should Keep Raising RatesThe basic reality is American workers don’t have the power to raise their wages. Big American corporations have the power to raise their prices.
Read more »