Capitalgrow Currency Updates, Indian Rupee opens lower by 13 paise at 66.05/$

Indian Rupee today opened at 66.05 against the dollar, lower by 13 paise in early trade on Wednesday. Yesterday rupee weakened against the greenback, impacted by sharp fall in domestic equity markets and strength in US dollar against the basket of currencies. In spite of dovish policy statement from US Federal Reserve, there is a perception that Fed will initiate its first rate hike either in October or December.

On the global front, the preliminary Caixin China manufacturing PMI crashed to 47.0 in September, which is a six-and-a-half-year low. The Asian Development Bank sees a softer outlook for China and India and a delayed recovery in the world’s advanced nations. Its report predicts the region’s economies will expand 5.8% this year and 6% next year, down from the 6.3% it forecast in March for both years. 

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Capitalgrow Forex Market Updates - Dollar higher vs. euro, slips vs. yen after Fed decision

The dollar regained ground against the euro on Friday and slipped against the yen after the Federal Reserve decided to leave interest rates unchanged for the time being.

EUR/USD slipped 0.21% to trade at 1.1411, off four-week highs of 1.1441 hit on Thursday.

The greenback weakened broadly after the Federal Reserve kept interest rates unchanged on Thursday, but losses were limited as the central bank left open the possibility of a rate hike later this year.

Speaking after the rate statement, Fed Chair Janet Yellen said global economic developments played a major part in the central bank's decision.

In deciding when to raise interest rates, the Fed repeated it wanted to see "some further improvement in the labor market" and be "reasonably confident" that inflation will increase.

USD/JPY slid 0.29% to 119.66.

Earlier Friday, the minutes of the Bank of Japan's August policy meeting revealed that the central bank must be vigilant to the risk of a decline in exports from a prolonged slowdown in China and other emerging economies.

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Forex Market Updates : AUD/USD almost unchanged ahead of Fed statement

The Australian dollar was almost unchanged against its U.S. counterpart on Wednesday, hovering close to a two-week high as investors remained cautious ahead of the Federal Reserve's highly-anticipated policy statement due the next day. 

Markets were jittery amid concerns that mixed U.S. economic reports and recent volatility in global financial markets will prompt the U.S. central bank to refrain from hiking interest rates on Thursday.

Data on Tuesday showed that U.S. retail sales rose 0.2% in August, compared to expectations for an increase of 0.3%, while core retail sales, which exclude automobiles, added 0.1% last month, confounding expectations for a 0.2% rise.

A separate report showed that U.S. industrial production fell 0.4% in August, compared to expectations for a 0.2% downtick.

The Australian dollar had come under pressure on Tuesday, after the minutes of the Reserve Bank of Australia's latest policy meeting reiterated that very low interest rates will continue to support growth.

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Capitalgrow Updates Forex Updates :The EUR/USD edges up to 2-1/2 week highs with eyes on Fed

The euro edged up to two-and-a-half week highs against the U.S. dollar on Monday, as investors remained cautious ahead of the Federal Reserve's highly-anticipated policy meeting this week.

EUR/USD hit 1.1360 during late Asian trade, the pair's highest since August 27; the pair subsequently consolidated at 1.1351, up 0.11%.

Sentiment on the dollar remained vulnerable amid concerns that mixed U.S. economic reports and recent volatility in global financial markets will prompt the U.S. central bank to refrain from hiking interest rates on Thursday.

Separately, the Labor Department reported that the producer price index was flat last month after a 0.2% increase in July.Fed Chair Janet Yellen has said that an interest rate increase is data dependent but has also indicated that she expects to begin raising rates before the end of the year.

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Forex Market Updates - Aussie holds weaker despite solid jobs data with eye on China

The Australia dollar fell on Thursday in Asia despite solid jobs data as investors also eyed consumer and producer price data out of China.

In Australia the overall unemployment rate fell to 6.2% as expected from from 6.3% and 11,500 jobs were added, compared to an expected 5,000 under a participation rate of 65% as seen.

In China consumer prices rose 0.5%, higher than the 0.4% gain seen in August and producer prices fell 5.9%, ore than the expected drop of 5.5% year-on-year.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.14% at 95.83.

Overnight, the dollar pushed higher against against the other major currencies on Wednesday, amid hopes for fresh easing measures by the Bank of China.

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Capitalgrow Updates : Aussie holds gains despite weaker consumer sentiment reading

The Aussie held early Asian gains on Wednesday despite a downbeat reading on consumer sentiment and weaker than expected housing finance data.

AUD/USD traded at 0.7054, up 0.51%, while USD/JPY changed hands at 120.30, up 0.41%.

The September Westpac-MI Consumer Sentiment gauge fell 5.6% to 93.9, receding from a gain of 7.8% to 99.5 the previous month.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.11% at 95.95.

The Labor Department reported that the U.S. economy added 173,000 jobs last month, the smallest increase in employment in five months and was below expectations for 220,000, while the unemployment rate ticked down to 5.1%, its lowest level since April 2008.

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Capital grow Updates The Aussie weakened on Thursday in Asia after disappointing retail sales, though trade data provided a bright spot

In Australia, retail sales fell 0.1%, missing an expected 0.4% gain and down for the first time since May last year as food retailing showed no growth and household goods retailing fell for the first time since March. The trade balance for July came in at A$2.460 billion, better than the A$3.1 billion seen and compared to a deficit of A$2.93 billion in June.

Earlier, the August AIGroup services index came in at 55.6, above last month's 54.1 level.

AUD/USD traded at 0.7014, down 0.33%, while USD/JPY changed hands at 120.48, up 0.12%.

In Japan, BoJ board member Takahide Kiuchi said hitting sustained 2% inflation in Japan would be hard via monetary easing alone and he reiterated that massive bond buying by the central bank was distorting prices.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.09% at 95.98

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