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You can see the latest forex market movement trends updated frequently during forex trading hours. International Forex Market Trends and Market Analysis Report are provided by our professional forex trade dealing professionals and research team for the benefit of all our forex customers.

International Forex Market Rates for USD, Euro and GBP provided below was last updated on Jan 10 ~ 10:00 - Indian Standard Time

Trend Indicators against INR

"The Indian Rupee opened weaker at 85.87/85.88 against U.S.Dollar, heading into the U.S.Jobs report that will likely decide whether the dollar remains on a bullish path. USD/INR range for the day is 85.70 to 85.98 and for this month is 85.40 to 86.20."

SPOT/INR :The Indian Rupee closed flat at 85.84/85.85 against previous close of 85.85/85.86, as the dollar strenthened on the back of expectations of slower-than-anticipated rate cuts by the Federal Reserve as well as uncertainty about the incoming U.S.President's policies.

Wall Street futures fell in Asia and Treasury yields held near eight-month highs on Friday as investors counted down to a U.S. jobs report that could exacerbate or ease the sell-off in the global bond market. Chinese government bond yields climbed after the central bank said it has decided to suspend treasury bond purchases temporarily due to short supply of the bonds. For the global bond market, much is riding on the U.S. monthly payrolls report due on Friday. Median forecasts are for a rise of 160,000 in jobs in December with unemployment holding at 4.2%. Anything stronger could see 10-year Treasury yields spike to 13-month peaks and lift the U.S. dollar in the process. Analysts believe a print below 150,000 jobs will be needed to stop Treasury yields from rising further. Markets have already scaled back expectations to around 43 basis points of U.S. rate cuts for 2025, while concerns about President-elect Donald Trump's potentially inflationary agenda have helped drive up longer-term yields. The benchmark 10-year U.S. Treasury yield held at 4.6791%, just below an eight-month peak of 4.73% hit on Wednesday. The big chart level is the 4.739% and if that breaks, bears would be targeting the psychologically important level of 5%, highs not seen since 2007. The climb in Treasury yields - up about 8 bps this week - has bolstered the dollar index to 109.14, up for the sixth straight week. Worries about Britain's economy have kept the pound under pressure and hit gilts especially hard, driving yields to 16-1/2-year highs, although they did end Thursday largely steady. The pound slipped 0.1% on Friday to $1.2292, having touched its lowest since November 2023 overnight. It is down 1% this week. Oil prices rose on Friday. U.S. West Texas Intermediate crude futures rose 0.4% to $74.24 and were set for a weekly gain of 0.4%. Gold prices rose 1.2% in the week to $2,670.58 an ounce, near its highest level since December.

FACTORS AGAINST RUPEE :

Note :This information is given only for guidance purpose without any obligation on the part of TMB or any of its officials. Any person dealing on the basis of the said information does so at his / her own risks and no obligation arises to TMB or any of its officials. All such trading involves risks.

Exchange Rates Information last updated in part or full on Friday, January 10,2025 - 10:00 AM (IST) for ready transactions. All quotations are per unit of Foreign Currency except Japanese Yen, which is quoted for 100 Units

The currency rates given herein are only for reference and convenience. The bank has taken due care and caution in compilation of data given herein. The bank however does not guarantee the accuracy, adequacy or completeness of the data and is not responsible for any errors or omissions or for the results obtained from use of such information / data. The bank has no financial liability whatsoever to any user on account of the use of information / data provided in this page.