Rupee likely to decline alongside Asian peers
By Nimesh Vora
MUMBAI, Sept 3 (Reuters) -The Indian rupee is expected to weaken at open on Tuesday tracking a decline in Asian peers before a slew of important U.S. activity and labour data this week.
The 1-month non-deliverable forward indicated that the rupee INR=IN will open at 83.94 to the U.S. dollar compared with 83.9175 in the previous session. The local currency is not far away from the all-time low of 83.9725 hit on Aug. 7.
Asian currencies added to Monday's losses. The offshore Chinese yuan slipped past 7.1250 to the dollar, and others were down 0.2% to 0.5%.
The dollar/rupee pair "will have a bit of a lift with Asia where it is", a currency trader at a bank said.
"However, unless we move past 84, you will not have any major activity from interbank or corporates."
The rupee has been avoiding dipping past 84 largely on the back of the central bank's intervention. On several occasions last month, the rupee looked like it would weaken past the psychological level, only to be saved by the central bank.
ALL ABOUT US DATA
This week its all about U.S. data and the impact it has on the Federal Reserve rate cut cycle, which in all certainty is likely to begin this month. The only uncertainty for the Sept. 17-18 meeting is whether the Fed will cut rates by 25 basis points or 50 basis points.
The data on the U.S. labour market likely holds the key to that. The August non-farm payroll data, due on Friday, will be the deciding factor on the size of the rate cut the Fed delivers.
ANZ Bank reckons the Fed will cut rates by 25 basis points in September, and by a total of 75 basis points this year.
The ISM manufacturing and services prints are due on Tuesday and Thursday, providing cues on the economic activity.
KEY INDICATORS:
** One-month non-deliverable rupee INRNDFOR= forward at 84.02; onshore one-month forward premium at 7 paise
** Dollar index =USD at 101.68
** Brent crude futures LCOc1 down 0.2% at $77.3 per barrel
** Ten-year U.S. note yield at 3.92%
** As per NSDL data, foreign investors bought a net $179.3 mln worth of Indian shares on Aug. 30
** NSDL data shows foreign investors bought a net $20.1 mln worth of Indian bonds on Aug. 30
Reporting by Nimesh Vora; Editing by Mrigank Dhaniwala
Eng oxirgi yangiliklar
Javobgarlikdan voz kechish: XM Group korxonalari har biri faqat ijro xizmatlarini koʻrsatadi va onlayn savdo platformamizdan foydalanish huquqini beradi, bu odamga veb-saytda yoki veb-sayt orqali mavjud boʻlgan kontentni koʻrish va/yoki undan foydalanishga ruxsat beradi hamda uni oʻzgartirishga moʻljallanmagan va uni oʻzgartirmaydi yoki kengaytirmaydi. Bunday kirish va foydalanish huquqi doimo quyidagilarga boʻysunadi: (i) Shartlar va qoidalar; (ii) Risklar haqida ogohlantirish; va (iii) Javobgarlikni toʻliq rad etish. Shuning uchun bunday kontent umumiy maʼlumot sifatida taqdim etiladi. Xususan, shuni esda tutingki, bizning onlayn savdo platformamiz mazmuni moliyaviy bozorlarda biror bitimni amalga oshirishga oid maslahat yoki taklif emas. Har qanday moliyaviy bozorda savdo qilish sizning kapitalingiz uchun jiddiy risk darajasini oʻz ichiga oladi.
Onlayn savdo platformamizda chop etilgan barcha materiallar faqat taʼlim/axborot maqsadlari uchun moʻljallangan va unda moliyaviy, investitsiya soligʻi yoki savdo maslahatlari va tavsiyalar; yoki bizning savdo narxlarimizning qaydlari; yoki har qanday moliyaviy vositalar bilan bitim tuzish maslahati yoki taklifi; yoki sizga kerak boʻlmagan moliyaviy reklama aksiyalari hisoblanmaydi
Har qanday uchinchi tomon kontenti, shuningdek XM tomonidan tayyorlangan kontent, masalan: fikrlar, yangiliklar, tadqiqotlar, tahlillar, narxlar va boshqa maʼlumotlar yoki bu veb-saytda joylashgan uchinchi tomon saytlariga havolalar umumiy bozor sharhi sifatida "boricha" taqdim etiladi va investitsiya maslahatini tashkil etmaydi. Har qanday kontent investitsiya tadqiqoti sifatida talqin qilinsa, siz bunday kontentni investitsiya tadqiqotlarining mustaqilligini ragʻbatlantirish uchun moʻljallangan qonun talablariga muvofiq moʻljallanmagan va tayyorlanmaganligini eʼtiborga olishingiz va qabul qilishingiz kerak, shuning uchun unga tegishli qonunlar va qoidalarga muvofiq marketing kommunikatsiyasi sifatida qaraladi. Mustaqil boʻlmagan investitsiya tadqiqoti va yuqoridagi maʼlumotlarga oid risk haqida ogohlantirishimizni oʻqib chiqqaningizga va tushunganingizga ishonch hosil qiling, unga bu yerdan kirish mumkin.
