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Daily Report

2022-12-02 FRIDAY

The dollar held firm in Asian Market opening trades today, but was pinned down near 16-week lows against a basket of major currencies as data showing increased U.S. consumer spending in October emboldened investor hopes that the peak in interest rates was on the horizon. The dollar index, which measures the currency against six major peers including the yen and euro, rose 0.191% at 104.840 but was not far off Thursday\'s low of 104.56, the lowest since Aug. 11. Data yesterday showed that U.S. consumer spending in October increased at its greatest pace since January and the labour market remained resilient, with the number of Americans filing new claims for unemployment benefits declining last week. The data \"reinforces the market view that the FOMC is edging closer to the end of its monetary tightening cycle\" and that has weighed on the U.S. dollar. Investors now turn their attention to nonfarm payrolls data later today for clues about how rate hikes have affected the labour market. In the near term, the currency market will be driven by U.S. payroll reports and given the market is closely monitoring any sign of a FOMC pivot and a weaker report today will weigh on the dollar. In currencies today, the dollar was 0.05% lower at 135.25-yen, having slipped as low as 135.045 yen earlier - the lowest since Aug. 18. The euro was down 0.1% to $1.0512, after gaining 1% overnight, while sterling currently trading at $1.2237, down 0.13% on the day. The pound advanced 1.7% overnight and touched a 5-month high of $1.2311. The Indian rupee opened stronger with a huge gap of 12 paise at 81.10/11 against its previous sessionís close of 81.22/23 and is expected to trade between 80.80-81.30 band today.
Dollar Rupee



INR Rates

Symbol   Bid  ASK
USD82.695 82.705
GBP95.4383 95.47138
EUR82.0996 82.13267
JPY0.56198 0.56205
CHF83.31151 83.33669
AUD53.31347 53.33001
SGD58.6323 58.6531
CAD61.04304 61.06106
NZD48.65774 48.66601
*Closing Rates on : 2022-11-01

Stock Indices

BSE Sensex62904.76-379.43
S&P CNX Nifty18705.45-107.05
DJ IA31097.9756.84
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