Indian Rupee likely to start Thursday trading session with positive note as greenback on early morning in Asia, reversing its gains from the day before over the U.S. Congress’ inability to reach a consensus for the country’s latest COVID-19 stimulus package.Yesterday , During the session, the domestic unit witnessed an intra-day high of 74.77 and a low of 74.93 against the greenback.
China is extending an anti-dumping tariff on a fibre optic product made in India, the Ministry of Commerce said on Thursday. The punitive tariff on single-mode optical fibre takes effect from Aug. 14 and lasts for five years, with tariffs ranging between 7.4% and 30.6% depending on the specific Indian manufacturers, the ministry said.
INTRADAY RANGE - 74.54 ( 74.71 - 74.89 ) 75.06
GLOBAL HIGHLIGHTS
U.S. President Donald Trump went so far as to accuse Democrats on Wednesday of not wanting to negotiate over the package, with Republican and Democratic negotiators trading barbs and blame as negotiations ended without a result for the fifth day.
China's July air passenger numbers fall 34.1% year-on-year: regulator.
UK housing boom gathers pace, but fears of a bust grow too: RICS.
Fed policymakers say economic growth will be muted until virus contained.
Mauritius says almost all oil removed from damaged Japanese ship.
Oil Climbs as Draw in U.S. Crude Supplies Offsets Demand Worries.
Gold futures settle higher after a more than 4% loss a day earlier.
MAJOR FX INTRADAY RANGE
EUR/USD - BUY ON DIP
(1.1842 - 1.1736)
GBP/USD - BUY ON DIP
1.3136(1.3072 - 1.3008)1.2944
USD/JPY - UPSIDE SELL
(107.15 - 106.56)105.97
DOLLAR INDEX - UPSIDE SELL
94.40 ( 93.72 - 93.04 )92.36
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