The Rupee opened unchanged on Tuesday, remaining unresponsive to U.S. Treasury yields, outflows and other external cues amid possible intervention from the Reserve Bank of India. The local currency for two-and-a-half weeks has been stuck in a narrow 10-paisa range with the RBI not wanting the rupee to fall more. The central bank has been on offer on the dollar/rupee pair via the public sector all through the trading session in recent days. The RBI's intervention has negated the effect on the rupee of several factors such as foreigners pulling out a large chunk of money from local equities, U.S. Treasury yields making their way to a three-month high, and the dollar's rally. The yields on the U.S. two-year to 30-year bonds climbed to roughly three-month peaks on Monday. The prospect of Republican candidate Donald Trump winning the U.S. elections has prompted investors to dump U.S. Treasuries and lap up the dollar. Elsewhere, the dollar eased a touch, though remained not too far from its recent high ahead of major U.S. data releases later in the week that could determine the path for Federal Reserve policy. The dollar index is not too far away from its year-to-date high, having rallied 3.5% in October. Anticipation of this week’s (U.S.) payrolls data and next week’s U.S. election is driving markets, ANZ Bank said in a note. The U.S. October non-farm payrolls data due this Friday will be observed more keenly than usual considering the Federal Reserve's focus on the labour market. The dollar was headed for its best month in 2-1/2-years on Tuesday, as it eyed a 3.5% gain against a basket of currencies . The yen languished near a three-month trough on Tuesday as the loss of a parliamentary majority for Japan's ruling coalition in weekend elections raised uncertainty about the nation's political and monetary outlook. The yen was last 0.1% higher at 153.12 per dollar, after having slumped to a low of 153.885 on Monday - its weakest level since July - following Japan's national election on Sunday that left the make-up of the country's future government in flux. Against the euro and sterling , the yen similarly struggled near a three-month low and last stood at 165.73 and 198.72, respectively. Oil prices edged up on Tuesday, after a sharp plunge in the previous session, as a U.S. plan to purchase oil for the Strategic Petroleum Reserve provided support while investors remained focused on developments in the Middle East. Brent crude futures climbed 44 cents, or 0.6%, to $71.86 a barrel by 0025 GMT, while U.S. West Texas Intermediate crude was at $67.83 a barrel, up 45 cents, or 0.7%.......
The US dollar weakened sharply against other major currencies after data showed that the US economy suffered a record contraction in Apr-Jun, while jobless claims rose in the week ended Saturday also rose.The US unit also extended its decline globally on Thursday after Trump raised the possibility of delaying presidential election in the US, scheduled for November.European Stocks ended lower on Thursday due to mounting concern over sluggish economic recovery and a possible second wave of the COVID-19 pandemic.Germany reported its worst decline in GDP since 1970, with the Eurozone’s largest economy shrinking 10.1% quarter-on-quarter in Apr-Jun.Corporate earnings were high on investors' agenda on Thursday.In the US, Most share indices ended lower on Wednesday following bleak economic data.Lack of progress in talks between Congressional Democrats, Republicans and the White House on a new coronavirus aid package also weighed on sentiment.Gold futures settled lower on Thursday after nine consecutive days of gains, with the bullion retreating from a record rally as traders booked some profit.......