US DOLLAR INDEX (USD) : 26.08.2016
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In spite of the robust release of core durable goods and unemployment claims data from the nation, the American currency traded on a flat note yesterday. Reason for the same could be attributed to the investors focus on the Jackson Hole meeting which is scheduled to start today. Officials of other central banks and other senior financial officials will indulge into discussion about the world economy. Moreover, the markets will be looking for hints from Federal Reserve chair Janet Yellen regarding the Fed’s monetary plans, particularly the timing of a rate hike. FOMC members are expected to express their views in the days leading to the crucial meeting. The American currency made an intraday low of 94.56 and closed at 94.74 on Thursday.
OUTLOOK Rupee is likely to trade higher as dollar movements in the overseas markets remain weak owing to the annual conference in Jackson Hole, Wyoming where the where the US Fed Chair Janet Yellen will speak today giving some light on interest rate hike timings.
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In spite of the robust release of core durable goods and unemployment claims data from the nation, the American currency traded on a flat note yesterday. Reason for the same could be attributed to the investors focus on the Jackson Hole meeting which is scheduled to start today. Officials of other central banks and other senior financial officials will indulge into discussion about the world economy. Moreover, the markets will be looking for hints from Federal Reserve chair Janet Yellen regarding the Fed’s monetary plans, particularly the timing of a rate hike. FOMC members are expected to express their views in the days leading to the crucial meeting. The American currency made an intraday low of 94.56 and closed at 94.74 on Thursday.
OUTLOOK Rupee is likely to trade higher as dollar movements in the overseas markets remain weak owing to the annual conference in Jackson Hole, Wyoming where the where the US Fed Chair Janet Yellen will speak today giving some light on interest rate hike timings.