STOCKS: The benchmark BSE Sensex rose 25.46 points, or 0.04%, to 62,647.7, while the broader NSE index gained 11.7 points, or 0.06%, to 18,546.1 as stronger-than-expected domestic growth data boosted sentiment. RUPEE: The Indian rupee strengthened 0.27% versus the U.S. dollar, and quoted at 82.51 per dollar as better than expected GDP data drove traders to cut their long USD/INR positions.
The Indian rupee rose to a two-week high on Thursday as traders holding long positions on the dollar exited after domestic economic data surprised on the upside. The rupee was at 82.4425 against the U.S. dollar by 10:22 a.m. IST, compared to 82.7225 on Wednesday.
The euro recovered from a two-month low Thursday after European Central Bank President Christine Lagarde said inflation remained too high and further policy tightening was necessary. Data showed on Thursday that inflation in the 20 nations sharing the euro eased to 6.1% in May from 7.0% in April, below expectations for 6.3% in a Reuters poll of economists.
The dollar retreated from a two-week top against its major peers on Thursday as investors trimmed bets that the Federal Reserve will raise interest rates this month, though the looming debt ceiling deadline gave safe haven support to the greenback.
Latin American currencies fell
against a firm dollar on Wednesday, with the Brazilian real
spearheading the decline on mounting bets of rate cuts, while
Chile's peso fell due to a drop in copper ...
The U.S. dollar retreated
from a more than two-month high on Wednesday after a Federal
Reserve official warned any decision by the central bank to hold
its benchmark overnight interest rate firm at ...
Argentina's central bank purchased $451 million of foreign currency on Wednesday to bolster its dwindling hard currency reserves, after daily sales from farm exports topped $1 billion, providing some relief for the country's hard-hit finances. The currency move on Wednesday marks the biggest such purchase since late December.
* Canadian dollar gains 0.2% against the greenback. * Canadian first-quarter GDP increases 3.1% * Price of U.S. oil settles nearly 2% lower. * Canada-U.S. 2-year spread narrows by 4.5 basis points. By Fergal Smith.
* SNB CHAIRMAN: WE HAVE TO BRING INFLATION BELOW 2% AS SOON AS POSSIBLE. * SNB CHAIRMAN: THE LONGER INFLATION IS ABOVE 2%, IT BECOMES ENTRENCHED AND HARDER TO BRING IT DOWN. * SNB CHAIRMAN: SEES INFLATION RISKS HIGHER THAN DEFLATION IN THE FUTURE, DUE TO DEGLOBALISATION. * SNB CHAIRMAN: CURRENTLY DOES NOT SEE NECESSITY FOR E SWISS FRANC Source text for Eikon: Further company coverage:
Latin American currencies were pulled
down on Wednesday by a drop in the Brazilian real on mounting
bets of rate cuts from the country's central bank, while Chile's
peso also fell after the ...
News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.
PDF’s require Adobe® Reader® and will open in a new window.
Log In Required
Line of Credit Log In Required