Thursday, 13 August 2020
- Dollar grinds lower as traders question timing of U.S. stimulus
- Asian stocks set to track Wall Street’s defiant rally
- Crude rises 2% after draw in U.S. oil stocks spurs demand hope
Major Currency Rates at 8:44 AM
The dollar fell against most of its peers on Thursday amid fading hopes for a compromise between Republicans and Democrats over additional stimulus for the U.S. economy.
The greenback was hampered by a decline in Treasury yields, but analysts say this is likely only a temporary setback because U.S. lawmakers will eventually agree to more stimulus to help the economy recover from the coronavirus.
USD / INR Technical Analysis
Asian stocks were set for broad gains on Thursday after Wall Street’s S&P 500 index briefly touched record highs, as investors appeared to shrug off worries about stalled U.S. stimulus talks and a shaky economic recovery.
Australian S&P/ASX 200 futures rose 0.69% in early trading, while New Zealand’s benchmark S&P/NZX 50 index gained about 0.4%. Hong Kong’s Hang Seng index futures . rose 0.42% and Japan’s Nikkei 225 futures were flat
Crude prices rose more than 2% on Wednesday after government data showed U.S. oil inventories fell across the board, bolstering hopes that fuel demand in the world’s biggest economy will withstand the coronavirus pandemic.
Brent crude settled up 93 cents, or 2.1%, at $45.43 a barrel. West Texas Intermediate oil ended $1.06, or 2.6%, higher at $42.67 a barrel
Source : Reuters
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