USD/INR snaps three-day winning spree as US avoids immediate strike on Iran

Fonte Fxstreet
  • The Indian Rupee bounces back to near 86.60 against the US Dollar as the Oil price rally hits a pause.
  • The US stated that it will decide whether to attack Iran directly in the next two weeks.
  • This week, the Fed left interest rates steady and warned of upside inflation risks.

The Indian Rupee (INR) snaps a three-day winning streak and opens on a positive note to near 86.60 against the US Dollar (USD) on Friday. The USD/INR pair corrects after posting a fresh two-month high around 86.93 on Thursday as the Indian Rupee gains, while the Oil price struggles to extend its upside after rallying for almost three weeks.

Currencies associated with nations having higher dependency on the import of Oil, such as India, become vulnerable to sharp upside movements in the Oil price.

The Oil price struggles to rise further after comments from the White House signaled that the United States (USD) will not be involved in the Middle East conflict immediately, keeping hopes of negotiations alive. This has also diminished demand for safe-haven assets, such as the US Dollar.

The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, corrects to near 98.60 during European trading hours on Friday from the weekly high of 99.15 posted the previous day.

However, investors should be cautious about going all-in on the Indian Rupee as its outlook remains uncertain, given that the conflict between Israel and Iran is intact. Such a scenario will continue supporting the Oil price and will keep the scope for more upside wide open.

Meanwhile, Foreign Institutional Investors (FIIs) have remained net sellers this month despite pouring an investment of Rs. 3.308.32 crores in India’s equity market, according to data from exchanges. The scenario of FII outflows bodes poorly for emerging markets, such as India.

Daily digest market movers: Indian Rupee rebounds against US Dollar

  • The Indian Rupee opens on a bullish note against the US Dollar on Friday as the latter faces selling pressure amid an erosion in its safe-haven demand.
  • The White House signaled on Thursday that Washington will not strike Iran immediately and will decide on that in next two weeks. “Based on the fact that there is a substantial chance that negotiations may or may not take place with Iran in the near future, I will make my decision whether or not to go, within the next two weeks,” Press Secretary Karoline Leavitt said, ANI News reported.
  • Market sentiment soured significantly on early Thursday after a report from Bloomberg showed that the US is considering striking Iran as early as this weekend.
  • Meanwhile, Tehran has warned that the US joining the Israeli Defence Forces (IDF) would cause "hell for the whole region", Iran's deputy foreign minister Saeed Khatibzadeh said, BBC reported. Khatibzadeh added that the US involvement would turn the “conflict into a quagmire".
  • On the domestic front, investors seek cues about when the Federal Reserve (Fed) will start reducing interest rates after leaving them in the current range of 4.25%-4.50% on Wednesday. According to the CME FedWatch tool, the Fed will hold interest rates steady in the July meeting and will reduce them in September.
  • Following the interest rate decision, Fed Chair Jerome Powell warned that tariffs imposed by President Donald Trump have accelerated goods inflation, and it will pick up again this summer. “We’ve had goods inflation moving up a bit and expect to see more of that in summer,” Powell said.
  • Going forward, investors will focus on the preliminary HSBC India and S&P Global US Purchasing Managers’ Index (PMI) data for June, which will be released on Monday.

Technical Analysis: Indian Rupee stays below 20-day EMA

The Indian Rupee struggles to hold its three-day winning streak against the US Dollar on Friday. The USD/INR pair faces selling pressure after failing to reclaim the key resistance of $87.00 on Thursday. However, the near-term trend of the pair remains bullish as the 20-day Exponential Moving Average (EMA) slopes higher around 86.03.

The 14-day Relative Strength Index (RSI) breaks above 60.00, suggesting that a fresh bullish momentum has been triggered.

Looking down, the 20-day EMA is a key support level for the major. On the upside, the April 11 high of 87.14 will be a critical hurdle for the pair.


Isenção de responsabilidade: Apenas para fins informativos. O desempenho passado não é indicativo de resultados futuros.
placeholder
O preço do ouro se consolida na faixa de US$ 3.320-3.330; espera-se um impulso significativo do FedO preço do ouro (XAU/USD) oscila entre ganhos modestos e perdas menores durante o pregão asiático desta quarta-feira, exigindo alguma cautela antes de se posicionar para uma extensão da recuperação desta semana a partir da faixa de US$ 3.300.
Autor  FXStreet
12 horas atrás
O preço do ouro (XAU/USD) oscila entre ganhos modestos e perdas menores durante o pregão asiático desta quarta-feira, exigindo alguma cautela antes de se posicionar para uma extensão da recuperação desta semana a partir da faixa de US$ 3.300.
placeholder
O JPMorgan ainda está negociando para assumir o apoio do Apple Card no lugar do Goldman SachsO JPMorgan ainda está negociando para assumir o apoio do cartão Apple no lugar da Goldman Sachs.
Autor  Cryptopolitan
13 horas atrás
O JPMorgan ainda está negociando para assumir o apoio do cartão Apple no lugar da Goldman Sachs.
placeholder
As ações asiáticas permanecem constantes enquanto os comerciantes esperam pelo prazo de tarifasAs bolsas de valores asiáticas permaneceram principalmente constantes na quarta -feira, pois os investidores foram cautelosos após as negociações comerciais entre os Estados Unidos e a China encerraram sem grandes avanços. O índice MSCI para a Ásia -Pacífico aumentou 0,3%, onde Taiwan liderou os ganhos, à medida que os estoques americanos fecharam um pouco mais baixos. Nikkei do Japão caiu 0,03% e o Hang Seng Seng de Hong Kong […]
Autor  Cryptopolitan
13 horas atrás
As bolsas de valores asiáticas permaneceram principalmente constantes na quarta -feira, pois os investidores foram cautelosos após as negociações comerciais entre os Estados Unidos e a China encerraram sem grandes avanços. O índice MSCI para a Ásia -Pacífico aumentou 0,3%, onde Taiwan liderou os ganhos, à medida que os estoques americanos fecharam um pouco mais baixos. Nikkei do Japão caiu 0,03% e o Hang Seng Seng de Hong Kong […]
placeholder
O Google estabelece sua força de trabalho para investir significativamente na IAO Google incentiva seus trabalhadores a aumentar sua produtividade usando a IA. 
Autor  Cryptopolitan
13 horas atrás
O Google incentiva seus trabalhadores a aumentar sua produtividade usando a IA. 
placeholder
Strategy realiza maior IPO dos EUA em 2025 e compra 21 mil BitcoinsA Strategy, empresa comandada por Michael Saylor e antiga MicroStrategy, anunciou a aquisição de 21.021 Bitcoins por meio de uma nova emissão de ações preferenciais, consolidando a maior oferta pública inicial (IPO) dos Estados Unidos em 2025 até agora.
Autor  Pedro Augusto Prazeres
13 horas atrás
A Strategy, empresa comandada por Michael Saylor e antiga MicroStrategy, anunciou a aquisição de 21.021 Bitcoins por meio de uma nova emissão de ações preferenciais, consolidando a maior oferta pública inicial (IPO) dos Estados Unidos em 2025 até agora.
goTop
quote