Daily

Daily Currency Market Update:


HIGHLIGHTS:

The dollar hit a two-week low versus a basket of currencies on Thursday after minutes from the U.S. Federal Reserve's latest meeting suggested some central bankers are still concerned about persistently low inflation. The dollar index, which measures the greenback's value against a basket of six major currencies, touched 92.827 .DXY, its lowest level since Sept. 26. It was last down 0.2 percent at 92.854. The Fed minutes on Wednesday showed many policymakers still felt that another rate increase this year "was likely to be warranted" but several noted that additional tightening was dependent on upcoming inflation data. Participants expressed concern that the low inflation readings this year might reflect... the influence of developments that could prove more persistent, and it was noted that some patients in removing policy accommodation while assessing trends in inflation were warranted," the Fed said in its minutes. "The FOMC minutes indicated that the board was still profoundly divided about the slow pick up in prices," Stephen Innes, head of trading in Asia-Pacific at Oanda, said in a note. "As always, the Fed will continue to watch the data as we move into December," he wrote. U.S. producer price data on Thursday and consumer price data on Friday will be the next focus, after U.S. jobs figures last week showed a rise in wages that boosted expectations that inflation is picking up.

Tags: Technical


Search Reports

SEARCH

Open an account

OPEN AN ACCOUNT

Reports

Daily Currency Market...

HIGHLIGHTS: The U.S. dollar...

Read More

Daily Market Update...

Sensex ended with a net gain...

Read More

Daily Market Update...

On the Daily Chart, we are...

Read More

Daily Metal & Agro Buzz:

HIGHLIGHTS: India's Palm Oil...

Read More

Daily Currency Market...

HIGHLIGHTS: The dollar...

Read More

Axis Bank - Q2FY18...

Axis Bank Ltd. reported major...

Read More

DCB Bank - Q2FY18...

DCB Bank Ltd. reported strong...

Read More

Bajaj Auto - Q2FY18...

Bajaj Auto reported Q2 net...

Read More

POSITIONAL CALL CIPLA

POSITIONAL CALL: BUY...

Read More

Persistent Systems -...

Persistent systems USD...

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.