Monday’s trade saw USD/PKR within the range 154.55-154.60. The pair closed flat at 154.60 amid light trading volumes as US markets remained closed for Martin Luther King Day.
Last week’s set of macro data underscored the US economy’s resilience, as retail sales rose for a third straight month in December at a rate that met market expectations. Excluding autos, retail sales surged the most since July last month.
A separate report showed January’s manufacturing activity in Philadelphia had expanded at the sharpest rate since May on strong growth in new orders, shipments and employment.
US housing starts rose to a seasonally adjusted annual rate of 1.608 million units last month, or a level unseen since December 2006, as single-family home building increased to its highest level since June 2007.
At the same time, a gauge of consumer sentiment remained close to its highest level in 7 months in January, preliminary data by Thomson Reuters/University of Michigan showed.
Meanwhile, Pakistan Bureau of Statistics reported on Monday that the country’s trade deficit had expanded to PKR 316.77 billion ($2.04 billion) in December from PKR 299.80 billion ($1.93 billion) in November, as total Rupee-denominated imports rose 2.16% and total Rupee-denominated exports dropped 1.19%. Pakistan has been recording consistent trade balance deficits since 2003 mostly because of high imports of energy.
The yield on Pakistan’s 3-year government bonds were last registered at 12.243% on January 20th, while the yield on Pakistani 10-year bonds were last recorded at 11.295%.
The benchmark equity index Karachi Stock Exchange KSE-100 Index tracked other Asian equities and was seen quoted lower -0.37% at 42,591.00.
The US Dollar Index was 0.02% weaker to 97.60 in late Asian trade on Tuesday, while being close to yesterday’s one-month high of 97.73.
From a macroeconomic perspective, the United States and Pakistan are not scheduled to release any relevant reports today.
USD/PKR was edging up 0.05% to 154.68 in late Asian session on Tuesday.
