Daily Digest Market Movers: Indian Rupee remains sensitive to high inflation, geopolitical risks
- The INR has climbed 0.5% this year, making it Asia's top-performing currency in 2024, as foreign investors continued to purchase local bonds ahead of the country's entry into global debt indexes.
- Traders will monitor the maturity of the Reserve Bank of India’s $5 billion USD/INR sell-buy swap on Monday, which might impact the overnight USD/INR swap rate and forward premiums.
- The US Nonfarm Payrolls rose by 275K in February from 229K in January, stronger than the market expectation of 200K, according to the US Bureau of Labor Statistics (BLS) on Friday.
- The Unemployment Rate in the US rose to 3.9% in February from 3.7% in January, the highest level in two years.
- The US wage growth, as measured by the Average Hourly Earnings, rose by 4.3% YoY in February versus 4.4% prior, below the market consensus of 4.4%.
- Fed Chair Powell said last week during his semiannual testimony that more confidence is needed before the central bank is ready to lower the rate, but they’re not far from it.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
If you like, reward to support.
Hot
No comment on record. Start new comment.