USD/INR Price News: Indian Rupee snaps four-day winning streak as market optimism fades, focus on Fed’s Powell

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USD/INR Price News: Indian Rupee snaps four-day winning streak as market optimism fades, focus on Fed’s Powell – by anilpanchal7 USDINR RiskAppetite Fed China Oil

air takes clues from the US Dollar’s rebound amid the mixed sentiment and anxiety ahead of the key catalysts. However, softer prices of oil and a downside break of 82.40 keeps the pair sellers hopeful. makes rounds to 103.15-20 as sellers pause after a two-day downtrend around the lowest level since June 2022. That said, the greenback’s gauge versus the six major currencies takes clues from a rebound in the US Treasury yields, as well as the hawkish statements from the Federal Reserve officials.

Atlanta Federal Reserve bank president Raphael Bostic said on Monday that it is ''fair to say that the Fed is willing to overshoot.'' On the same line, San Francisco Additionally, the of New York's monthly Survey of Consumer Expectations showed on Monday that the US consumers' one-year inflation expectations declined to 5% in December from 5.2% prior.

Elsewhere, headlines from Bloomberg suggesting fears of high COVID-19 figures from rural China, as the holiday season in the Asian major looms, also tease the USD/INR bulls. The news cites the death of facilities and drugs, as well as experts’ fears of a spike in Covid cases in January, to challenge the optimism surrounding China.prices fade the previous day’s rebound, down 0.61% intraday near $74.55 by the press time, as risk-aversion weighs on the energy benchmark.

Against this backdrop, the S&P 500 Futures remain lackluster around 3,915, down 0.05% intraday, whereas the US 10-year Treasury yields seesaw around a three-week low marked the previous day, close to 3.52% by the press time. Given the latest rebound in the USD/INR prices, the pair traders will pay higher attention to Fed Chair Jerome Powell’s panel discussion for possible clues on the hawkish moves of the US central bank.A clear downside break of the 82.40 support keeps USD/INR bears hopeful of revisiting the 82.00 threshold.

 

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