Dollar index steadies under 100 mark; Fed policy in focus
The dollar index continues to steady in a narrow range under 100 mark on Tuesday amid uncertainty regarding tariff deals between US and China and resurfacing concerns in Middle East. Meanwhile, ISM survey showed on Monday that the growth in the US services sector picked up in April. ISM Services PMI rose to 51.6 compared to 50.8 in March and 50.6 estimated. This comes on top of Friday's upbeat US jobs data and eases fears of a US recession. Investors now look forward to the highly-anticipated two-day FOMC meeting starting this Tuesday for cues on rate path. Currently, the dollar index that measures the greenback against a basket of currencies is quoting at 99.46, down 0.18% on the day. Powered by Capital Market - Live News
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Standard
2 days ago
- Business Standard
Kernex Microsystems JV wins Western Railways' KAVACH project of Rs 182 cr
Kernex Microsystems (India) announced that the Western Railways, Ahmedabad has issued a letter of Acceptance (LOA) to KERNEX- KEC CONSORTIUM for the project viz, for Provision of KAVACH Version 4.0 or latest (formerly known as Train Collision A voidance System-TCAS), including provision of communication back bone based on UHF and OFC on Palanpur - Samakhiyali - Gandhidham Section on Ahmedabad Division of Western Railway. The Company is partner of the said Joint venture with a share of70%. The accepted Bid cost for the project is Rs. 182.81 crore (IncI. GST@18%). The Completion period is 730 days from the date of LoA. Powered by Capital Market - Live News
Business Standard
3 days ago
- Business Standard
Refex Industries allots 98,334 equity shares under ESOP
Refex Industries has allotted 98,334 equity shares under ESOP on 05 June 2025. Consequent to the aforesaid allotment, issued, subscribed and paid-up equity share capital of the Company stands increased from Rs 25,83,64,546/- (divided into 12,91,82,273 equity shares of face value of Rs 2/- each) to Rs 25,85,61,214/- (divided into 12,92,80,607 equity shares of face value of Rs 2/- each). Powered by Capital Market - Live News
Business Standard
4 days ago
- Business Standard
Euro cautiously flat ahead of ECB decision; EURINR futures marginally up
The euro is holding just below one-month high against the dollar on Thursday morning in Asia with much anticipation of a rate cut in todays ECB rate decision after Eurozone inflation in May fell below the ECB target of 2% for the first time since September last year. Flash data from Eurostat showed that inflation eased to 1.9% in May while core inflation that strips out prices of energy, food, alcohol and tobacco, also slowed to 2.3% from 2.7%. EURUSD pair currently holds steady above $1.1400 but stays pressured amid dollar recovery overseas following a sharp slide in the previous session amid weak US data. Markets now await Thursdays US weekly jobless claims and Fridays closely watched nonfarm payrolls report. Besides, several FOMC members due to speak later in the global day will also be watched closely. Meanwhile, ECB President Christine Lagarde speech on the forward looking outlook and updated staff projections following decision will also be keenly awaited. On the NSE, EURINR futures pair opened at 98.20 and reduced gains thereafter to be currently trading near the days low at 98.10.
