Hindi nagbibigay ng serbisyo ang XM sa mga residente ng Estados Unidos.

Indian rupee likely to be rangebound, bond traders eye US peers



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>WEEKAHEAD-Indian rupee likely to be rangebound, bond traders eye US peers</title></head><body>

By Jaspreet Kalra and Bhakti Tambe

MUMBAI, Aug 19 (Reuters) -The Indian rupee is expected to remain rangebound this week as traders watch out for remarks from Federal Reserve policymakers that may offer clues on interest rate cuts this year, while domestic bond yields will track moves in U.S. peers.

The rupee INR=IN closed at 83.94 against the U.S. dollar on Friday, little changed week-on-week.

While outflows from local equities and strong dollar demand from importers have squeezed the rupee, routine interventions by the Reserve Bank of India (RBI) have helped it hold above the psychologically important 84-handle.

Overseas investors have sold Indian stocks worth over $2.5 billion in August so far. The rupee hit an all-time low of 83.9725 on Aug. 7.

Given recent gains in its Asian peers, the rupee is due for some appreciation but gains are likely to be capped near 83.60-83.70, Dilip Parmar, a foreign exchange research analyst at HDFC Securities, said.

Meanwhile, recent upbeat economic data in the United States quelled concerns about a slowdown in the economy and prompted a paring of bets on aggressive rate cuts.

Investors will keep a tab on remarks from Fed policymakers, including Chair Jerome Powell on Friday, to gauge the pace and extent of rate reductions.

Investors expect the Fed to ease policy rates by a little more than 90 basis points (bps) in 2024. FEDWATCH

Minutes of the Fed's most recent meeting, due on Wednesday, are also expected to offer insights into policymakers' opinions of the interest rate trajectory.

Meanwhile, the Indian 10-year government bond yield IN071034G=CC ended at 6.8700% on Friday and was down 1 basis points last week, tracking a decline in U.S. Treasury yields.

Traders expect the benchmark yield to move in the 6.85% to 6.95% range as it awaits strong directional cues.

"Inflows from foreign portfolio investors and the start of monetary easing cycle in the developed economies are supporting (Indian) bond yields," said Puneet Pal, fixed income head at PGIM India Mutual Fund.

Market participants will also await minutes from the RBI's latest meeting, due on Thursday, especially as the Fed is expected to begin its policy easing cycle.

Earlier this month, the RBI kept its key interest rate unchanged, maintaining its focus on bringing down inflation amid a hawkish policy stance.

Investors were hopeful the central bank would soften its overall stance on inflation following a recent souring of global market sentiment and firmer expectations of Fed rate cut in September.

PGIM's Pal expects the status quo on Indian policy rates to continue till the end of 2024 and rate cuts to begin from next year in response to high real rates and global monetary easing amid moderating growth.



KEY EVENTS:

** U.S. Federal Open Market Committee's minutes from July 30-31 meeting - Aug. 21, Wednesday (11:30 p.m. IST)


** The Reserve Bank of India Monetary Policy Committee's minutes from Aug. 6-8 meeting - Aug. 22, Thursday

** U.S. initial weekly jobless claims week to Aug. 17 - Aug. 22, Thursday (6:00 p.m. IST)


** U.S. August S&P Global manufacturing PMI flash - Aug. 22, Thursday (7:15 p.m. IST)


** U.S. July existing home sales - Aug 22, Thursday (7:30 p.m. IST)


** U.S. July new home sales - Aug. 23 Friday (7:30 p.m. IST)



Reporting by Jaspreet Kalra and Bhakti Tambe; Editing by Sonia Cheema

</body></html>

Disclaimer: Ang mga kabilang sa XM Group ay nagbibigay lang ng serbisyo sa pagpapatupad at pag-access sa aming Online Trading Facility, kung saan pinapahintulutan nito ang pagtingin at/o paggamit sa nilalaman na makikita sa website o sa pamamagitan nito, at walang layuning palitan o palawigin ito, at hindi din ito papalitan o papalawigin. Ang naturang pag-access at paggamit ay palaging alinsunod sa: (i) Mga Tuntunin at Kundisyon; (ii) Mga Babala sa Risk; at (iii) Kabuuang Disclaimer. Kaya naman ang naturang nilalaman ay ituturing na pangkalahatang impormasyon lamang. Mangyaring isaalang-alang na ang mga nilalaman ng aming Online Trading Facility ay hindi paglikom, o alok, para magsagawa ng anumang transaksyon sa mga pinansyal na market. Ang pag-trade sa alinmang pinansyal na market ay nagtataglay ng mataas na lebel ng risk sa iyong kapital.

Lahat ng materyales na nakalathala sa aming Online Trading Facility ay nakalaan para sa layuning edukasyonal/pang-impormasyon lamang at hindi naglalaman – at hindi dapat ituring bilang naglalaman – ng payo at rekomendasyon na pangpinansyal, tungkol sa buwis sa pag-i-invest, o pang-trade, o tala ng aming presyo sa pag-trade, o alok para sa, o paglikom ng, transaksyon sa alinmang pinansyal na instrument o hindi ginustong pinansyal na promosyon.

Sa anumang nilalaman na galing sa ikatlong partido, pati na ang mga nilalaman na inihanda ng XM, ang mga naturang opinyon, balita, pananaliksik, pag-analisa, presyo, ibang impormasyon o link sa ibang mga site na makikita sa website na ito ay ibibigay tulad ng nandoon, bilang pangkalahatang komentaryo sa market at hindi ito nagtataglay ng payo sa pag-i-invest. Kung ang alinmang nilalaman nito ay itinuring bilang pananaliksik sa pag-i-invest, kailangan mong isaalang-alang at tanggapin na hindi ito inilaan at inihanda alinsunod sa mga legal na pangangailangan na idinisenyo para maisulong ang pagsasarili ng pananaliksik sa pag-i-invest, at dahil dito ituturing ito na komunikasyon sa marketing sa ilalim ng mga kaugnay na batas at regulasyon. Mangyaring siguruhin na nabasa at naintindihan mo ang aming Notipikasyon sa Hindi Independyenteng Pananaliksik sa Pag-i-invest at Babala sa Risk na may kinalaman sa impormasyong nakalagay sa itaas, na maa-access dito.

Babala sa Risk: Maaaring malugi ang iyong kapital. Maaaring hindi nababagay sa lahat ang mga produktong naka-leverage. Mangyaring isaalang-alang ang aming Pahayag sa Risk.