Latest news with #USDollar
News18
5 hours ago
- Business
- News18
Rupee rises 1 paisa to close at 86.40 against US dollar
Mumbai, Jul 24 (PTI) The rupee pared its initial gains and settled for the day 1 paisa higher at 86.40 (provisional) against the US dollar on Thursday, as risk aversion in global markets and an overnight recovery in crude oil prices dented investors' sentiments. Forex traders said uncertainty over the India-US trade deal has been an overhang for the forex market, leaving the rupee trading in a tight range. Moreover, a negative trend in domestic equities and foreign fund outflows weighed on investors' sentiments and restricted the upmove of the local unit. At the interbank foreign exchange, the domestic unit opened at 86.33 against the greenback and touched an intra-day high of 86.24 and a low of 86.42. At the end of Thursday's trading session, the local unit settled at 86.40 (provisional), higher by 1 paisa over its previous closing price. On Wednesday, the rupee settled with a loss of 3 paise at 86.41 against the dollar. 'We expect the rupee to trade with a slight negative bias amid geopolitical tensions between Thailand and Cambodia and positive crude oil prices. FII outflows may also weigh on the rupee," Anuj Choudhary – Research Analyst at Mirae Asset Sharekhan said. 'Optimism over US-EU trade deal and weak US Dollar may support the rupee at lower levels. Traders may take cues from new home sales data from the US and remain cautious ahead of PMI and durable goods orders data from the US this week. Investors may also take cues from ECB's monetary policy decision. USDINR spot price is expected to trade in a range of 86.10 to 86.75," Choudhary said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.16 per cent to 97.36, as investors watched out for an India-US trade deal ahead of the August 1 deadline. If the discussions fail or get delayed, Indian exporters could face fresh pressure — adding to the rupee's challenges. However, if a deal is reached, it could offer a much-needed breather. Until then, the uncertainty is likely to keep market participants cautious. Brent crude, the global oil benchmark, went up by 1.18 per cent to USD 69.32 per barrel in futures trade. The US team will visit India in August for the next round of negotiations for the proposed bilateral trade agreement between the two countries. India and the US teams concluded the fifth round of talks for the agreement last week in Washington. Meanwhile, in the domestic equity market, Sensex fell 542.47 points, or 0.66 per cent, to settle at 82,184.17, while Nifty declined 157.80 points, or 0.63 per cent, to close at 25,062.10. Foreign institutional investors (FIIs) offloaded equities worth Rs 4,209.11 crore on a net basis on Wednesday, according to exchange data. PTI DRR ANU ANU view comments First Published: July 24, 2025, 16:15 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
8 hours ago
- Business
- Time of India
Nokia's India net sales fall 6% on-year to ₹3,148.05 crore in Q2FY25
NEW DELHI: Finnish telecom gear maker Nokia reported a 6% year-on-year decline in its India net sales to 310 million euros (~₹3,148.05 crore) in the second quarter of fiscal year 2025 (Q2FY25), mainly dragged by a fall in its mobile networks business. Nokia, which follows the January-December financial year, had posted net sales of 329 million euros in Q2FY24 for the India market. 'Net sales in Asia Pacific (APAC) decreased in the second quarter, driven by declines in Mobile Networks, particularly in Greater China and India. Network Infrastructure (NI) saw broad-based growth across APAC. Cloud and Network Services saw growth in India and Rest of APAC which was offset by a decline in Greater China,' the vendor said in its earnings statement released on Thursday. This is in sharp contrast with its Swedish rival Ericsson, which has reported a 28% year-on-year fall in sales in the market area South East Asia, Oceania and India at 5.5 billion crowns (~₹4,917 crore) in the April-June 2025 quarter, weighed down by a pause in fifth-generation (5G) network investments by Indian telecom carriers. India, however, remained second among the top five countries by sales at 6% in the January to June period of 2025 for Ericsson, a company spokesperson told ET earlier. Nokia's mobile networks' net sales slid by 17% year-on-year in Q2FY25, primarily due to a decline in the Americas, and to some extent, APAC, while Europe, the Middle East and Africa (EMEA) grew slightly. 'Mobile Networks' net sales declined 13%, primarily related to the prior year settlement benefit and also due to project timing in India,' Justin Hotard, president & CEO, Nokia, said in the earnings statement. Nokia's cloud & network services net sales increased by 10% year-on-year in Q2FY25, mainly driven by core networks. 'In APAC, growth in Asia Pacific and Japan along with India was partially offset by a decline in Greater China,' it said. The network infrastructure net sales were up by 25% year-on-year in the fiscal second quarter of 2025, which included a full quarter of Infinera's financials. Nokia's network infrastructure business comprises its home broadband and optical transmission equipment business, which serves mostly enterprises, governments and webscalers, among others, while mobile networks involve supply of telecom equipment for telcos' retail network such as 4G and 5G. READ MORE | Ericsson's sales in South East Asia, Oceania & India slump by 28% on-year in Q2FY25 Nokia lowers full year operating profit outlook Nokia's overall sales grew slightly by 2% year-on-year to 4,546 million euros in Q2FY25. 'We are facing two headwinds to our full year operating profit outlook, which are outside of our control: currency due to the weaker US Dollar, and tariffs. The currency has an approximately 230 million euros negative impact relative to our expectations at the start of the year, with 90 million euros resulting from non-cash venture fund currency revaluations,' Hotard said. He added that the current tariff levels are forecasted to impact operating profit by 50 million euros to 80 million euros, inclusive of those in Q2. 'Considering these two headwinds, we decided it was prudent at this point to lower our comparable operating profit outlook to a range of 1.6 billion euros to 2.1 billion euros from the prior range of 1.9 billion euros to 2.4 billion euros,' the chief executive said. In India, Ericsson along with Nokia and South Korean Samsung, have commercial 5G deals with top telecom carriers Reliance Jio , Airtel, and Vodafone Idea (Vi). While Vi switched on its commercial 5G services in March, and is currently focused on expansion in 17 priority circles by August, its peers Jio and Airtel already have nationwide 5G networks and provide 5G FWA to customers. Earlier, Ericsson and Nokia saw a surge in India sales from the fourth quarter of 2022 and first quarter of 2023, respectively, shortly after Airtel and Jio began rolling out 5G networks nationally from October 2022. However, both telcos have concluded their 5G network deployments in the first half of 2024 and are now focused on boosting revenues and driving monetisation of their 5G businesses.
Yahoo
17 hours ago
- Business
- Yahoo
Cotton Comes Back to Close Steady
Cotton futures faded back off the midday gains on Wednesday, closing with mixed action of 3 points higher to a point lower. Crude oil futures were down 79 cents on the session. The US dollar index was weaker, down $0.177 to $96.940. The Seam showed sales of 1,093 bales on Tuesday, with an average price of 61.43 cents/lb. The world focused Cotlook A Index was down 80 points at 78.65 on July 21. ICE cotton stocks were steady on 7/22, with the certified stocks level at 22,337 bales. USDA's Adjusted World Price (AWP) was up a tick on Thursday at 54.72 cents/lb. It is in effect through this coming Thursday. More News from Barchart Coffee Prices Rise on Frost Threats in Brazil Frost Threats in Brazil Push Coffee Prices Sharply Higher Signs of Weak Chocolate Demand Undercut Cocoa Prices Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. Oct 25 Cotton is at 66.62, up 3 points, Dec 25 Cotton is at 68.24, down 1 points, Mar 26 Cotton is at 69.63, up 2 points On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Erreur lors de la récupération des données Connectez-vous pour accéder à votre portefeuille Erreur lors de la récupération des données Erreur lors de la récupération des données Erreur lors de la récupération des données Erreur lors de la récupération des données
Reuters
2 days ago
- Business
- Reuters
Gold at over one-month high as weak dollar, bond yields lift appeal
July 22 (Reuters) - Gold prices climbed on Tuesday to their highest level in more than a month, supported by a weaker U.S. dollar and lower Treasury yields, as investors looked for progress in trade talks ahead of an August 1 deadline. Spot gold was little changed at $3,389.98 per ounce, as of 0503 GMT. Earlier in the session, bullion hit its highest level since June 17. U.S. gold futures held their ground at $3,402.90. "Gold's move on the upside has been pretty much supported by positive technicals and as well as reinforced by a broad base of dollar weakness," OANDA senior market analyst Kelvin Wong said. The U.S. dollar index (.DXY), opens new tab was hovering near a more than one-week low against its rivals, making greenback-priced gold less expensive for other currency holders. Benchmark 10-year U.S. Treasury yields hit a more than one-week low on Monday. USD/US/ The European Union is exploring a broader set of possible countermeasures against the United States as prospects for an acceptable trade agreement with Washington fade, according to EU diplomats. U.S. President Donald Trump has threatened 30% duties on imports from Europe if no agreement is signed before the August 1 deadline. "There could be a possibility that U.S. and the respective trading partners may not agree to the terms and condition and that potentially could see a bit of uncertainty and there could be some hedging activities by market participants going forward," Wong said. Also on radar, the European Central Bank is expected to hold interest rates steady at 2.0% following a string of cuts at the end of its policy meeting on July 24. The U.S. Federal Reserve's monetary policy is scheduled for next week. Traders are pricing about a 59% chance of a rate cut by the Fed in September, according to the CME FedWatch Tool. Gold tends to perform well in a low-interest-rate environment. Spot silver fell 0.5% to $38.71 per ounce, platinum added 0.3% to $1,442.55 and palladium fell 1.3% to $1,250.19.
Reuters
3 days ago
- Business
- Reuters
Gold steadies at over one-month high as weak dollar, bond yields lift appeal
July 22 (Reuters) - Gold prices climbed on Tuesday to their highest point in more than a month, supported by a weaker U.S. dollar and lower Treasury yields, as investors looked for progress in trade talks ahead of an August 1 deadline. Spot gold was unchanged at $3,390.69 per ounce, as of 0258 GMT. Earlier in the session, bullion hit its highest level since June 17. U.S. gold futures held their ground at $3,405.20. "Gold's move on the upside has been pretty much supported by positive technicals and as well as reinforced by a broad base of dollar weakness," OANDA senior market analyst Kelvin Wong said. The U.S. dollar index (.DXY), opens new tab was hovering near a more than one-week low against its rivals, making greenback-priced gold less expensive for other currency holders. Benchmark 10-year U.S. Treasury yields hit a more than one-week low on Monday. USD/US/ The European Union is exploring a broader set of possible counter measures against the United States as prospects for an acceptable trade agreement with Washington fade, according to EU diplomats. U.S. President Donald Trump has threatened 30% duties on imports from Europe if no agreement is signed before the August 1 deadline. "There could be a possibility that U.S. and the respective trading partners may not agree to the terms and condition and that potentially could see a bit of uncertainty and there could be some hedging activities by market participants going forward," Wong said. Also on radar, the European Central Bank is expected to hold interest rates steady at 2.0% following a string of cuts at the end of its policy meeting on July 24. The U.S. Federal Reserve monetary policy is scheduled for next week. Traders are pricing about a 59% chance of a rate cut by the Fed in September, according to the CME FedWatch Tool. Gold tends to perform well in a low-interest-rate environment. Spot silver eased 0.2% to $38.84 per ounce, platinum added 0.8% to $1,449.11 and palladium fell 0.2% to $1,262.89.
