USD/INR Price News: Indian rupee pokes monthly high around 74.50 amid firmer sentiment By anilpanchal7 USDINR RiskAppetite Coronavirus CentralBanks Politics
With US President Joe Biden agreeing for a summit over Ukraine and including Russian counterpart Vladimir Putin, global traders got another reason to expect a soon diplomatic easing of Russia-Ukraine tensions. During the last week, US Secretary of State Antony Blinken agreed to talk with Russian Foreign Minister Sergei Lavrov and raised the hope of a solution to the key market problem on hand.
Elsewhere, Chicago Fed President and FOMC member Charles Evans said on Friday that the current Fed policy had been "wrong-footed" in the face of high inflation, but may not need to become restrictive. On the other hand, New York Federal Reserve Bank President John Williams and the No. 2 official on the Fed’s policy-setting panel mentioned, "I don’t see any compelling argument to taking a big step at the beginning.
At home, India reported 16,051 daily covid cases on early Monday, the lowest since December 30. Also favoring the Indian rupee buyers is the update from NewsRise that quotes an anonymous trader with a foreign bank saying, “There was heightened negativity for a few sessions following the budget announcement, which led to outflows from government bonds, especially the trading money. However, after the policy things seem to be consolidating.
Against this backdrop, stock futures remain firmer and the US Treasury yields keep the previous week’s pullback from a 2.5-year high. Looking forward, preliminary readings of February month’s PMI figures will join the Fedspeak and Core PCE Price Index, the Fed’s preferred inflation reading, to decorateA clear downside break of a five-week-old ascending trend line joins the impending bear cross to keep the USD/INR sellers hopeful. However, the 200-DMA level of 74.35 becomes crucial support to watch during the quote’s further decline.
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.
Australian Dollar Technical Forecast: AUD/USD Resilience Drives Price ActionThe Australian Dollar has remained resilient against the greenback as AUD/USD threatens key technical levels. Russia-Ukraine tensions weigh on sentiment. Get your weekly Australian Dollar forecast from Tams707 here:
Read more »
Silver Price Analysis: XAG/USD seesaws near $24.00 inside monthly rising wedgeSilver Price Analysis: XAG/USD seesaws near $24.00 inside monthly rising wedge By anilpanchal7 Silver Commodities Technical Analysis ChartPatterns SwingTrading
Read more »
USD/JPY Price Analysis: Sellers remain hopeful until crossing 115.45USD/JPY Price Analysis: Sellers remain hopeful until crossing 115.45 By anilpanchal7 USDJPY Technical Analysis SwingTrading ChartPatterns SupportResistance
Read more »
USD/CAD Price Analysis: Buyers flirt with 1.2750, six-week-old resistance in focusUSD/CAD Price Analysis: Buyers flirt with 1.2750, six-week-old resistance in focus By anilpanchal7 USDCAD Technical Analysis ChartPatterns SwingTrading SupportResistance
Read more »
EUR/USD Price Analysis: Bears in control below 1.1350, eyes on 1.1250EUR/USD fell from 1.1377 to 1.1315 on Friday and there could be more in store from this pair to the downside for the opening sessions this week. Accor
Read more »
EUR/USD approaches 1.1400 as risk-on mood weighs on USD, Russia-Ukraine news, PMIs eyedEUR/USD approaches 1.1400 as risk-on mood weighs on USD, Russia-Ukraine news, PMIs eyed By anilpanchal7 EURUSD RiskAppetite PMI Politics CentralBanks
Read more »