{"id":106228,"date":"2020-10-29T12:05:06","date_gmt":"2020-10-29T12:05:06","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=106228"},"modified":"2020-10-29T12:05:06","modified_gmt":"2020-10-29T12:05:06","slug":"104676-usd-inr-indian-rupee-extends-losses-on-virus-induced-pessimism","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/104676-usd-inr-indian-rupee-extends-losses-on-virus-induced-pessimism\/","title":{"rendered":"USD\/INR: Indian Rupee Extends Losses On Virus Induced Pessimism"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/inr-indian-rupee-live-exchange-rate\/\">Indian Rupee<\/a> (INR) tracks domestic equity market lower<\/strong><\/li>\n<li><strong>Sensex closed 0.5% lower on disappointing earnings &amp; risk off trade<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-us-dollar-live-exchange-rate\/\">US Dollar<\/a> (USD) trends higher on safe haven inflows<\/strong><\/li>\n<li><strong>US Q3 GDP &amp; jobless claims in focus<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Indian Rupee (<a href=\"https:\/\/currencylive.com\/exchange-rate\/\">USD\/INR<\/a>) exchange rate is extending gains for a second straight session on Thursday. The pair settled +0.76% higher in the previous session at 74.18, towards the upper end of the daily traded range. At 11:15 UTC, USD\/INR trades +0.4% at 74.46.<\/p>\n<p>The Indian Rupee is trading at a two-month low versus its US counterpart as it tracked losses in domestic equities market and a sell off in capital markets across the globe.<\/p>\n<p>Indian shares ended the day lower after corporate results from carmaker Maruti and engineering firm Larsen &amp; Toubro missed expectations. Meanwhile additional covid lockdowns in Europe as covid cases surge is also dragging on risk sentiment.<\/p>\n<p>As risk aversion dominates, investors are shunning risker assets and currencies such as the Indian Rupee in favour of safe haven currencies such as the US Dollar. France and Germany have announced new national lockdowns. The US could also be moving in a similar direction. Investors fear that the fragile global economic recovery will be derailed.<\/p>\n<p>The US Dollar is trending higher versus its major peers. The greenback remains well supported thanks to safe haven inflows as covid cases surge and investors fear the economic impact of a second wave.<\/p>\n<p>Investor attention will now turn towards US GDP data for the third quarter, the July \u2013 September period. Analysts are expecting GDP to show a record breaking 31% expansion on an annualised basis, after contracting a record -31.4% in the previous quarter. US jobless claims are expected to show 775K Americans signed up for unemployment benefit, roughly in line with last week as the US labour market recovery stalls.<\/p>\n<p>What this data will prove is that the US is in desperate need of additional fiscal stimulus. However, any new covid rescue package looks unlikely prior to the election given the stalemate in Congress.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) tracks domestic equity market lower Sensex closed 0.5% lower on disappointing earnings &amp; risk off trade US Dollar (USD) trends higher on safe haven inflows US Q3 GDP &amp; jobless claims in focus The US Dollar Indian Rupee (USD\/INR) exchange rate is extending gains for a second straight session on Thursday. The [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":47071,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1693,1381],"tags":[1655,1666,1536,2460,1397,1398],"class_list":{"0":"post-106228","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-inr","8":"category-usd","9":"tag-indian-rupee","10":"tag-inr","11":"tag-jobless-claims","12":"tag-sensex","13":"tag-us-dollar","14":"tag-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>USD\/INR: Indian Rupee Extends Losses On Virus Induced Pessimism - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/104676-usd-inr-indian-rupee-extends-losses-on-virus-induced-pessimism\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104676-usd-inr-indian-rupee-extends-losses-on-virus-induced-pessimism\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104676-usd-inr-indian-rupee-extends-losses-on-virus-induced-pessimism\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"USD\\\/INR: Indian Rupee Extends Losses On Virus Induced Pessimism\",\"datePublished\":\"2020-10-29T12:05:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104676-usd-inr-indian-rupee-extends-losses-on-virus-induced-pessimism\\\/\"},\"wordCount\":348,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104676-usd-inr-indian-rupee-extends-losses-on-virus-induced-pessimism\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/usd-inr.jpg\",\"keywords\":[\"indian rupee\",\"inr\",\"jobless claims\",\"Sensex\",\"us dollar\",\"usd\"],\"articleSection\":[\"INR\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104676-usd-inr-indian-rupee-extends-losses-on-virus-induced-pessimism\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104676-usd-inr-indian-rupee-extends-losses-on-virus-induced-pessimism\\\/\",\"name\":\"USD\\\/INR: Indian Rupee Extends Losses On Virus Induced Pessimism - 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