{"id":108322,"date":"2021-02-09T17:35:10","date_gmt":"2021-02-09T17:35:10","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=108322"},"modified":"2021-02-09T17:38:08","modified_gmt":"2021-02-09T17:38:08","slug":"105371-usd-inr-rupee-rises-gains-capped-by-surging-oil","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/105371-usd-inr-rupee-rises-gains-capped-by-surging-oil\/","title":{"rendered":"USD\/INR: Rupee Rises, Gains Capped By Surging Oil"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/inr-indian-rupee-live-exchange-rate\/\">Indian Rupee<\/a> (INR) gained despite weaker domestic equity markets<\/strong><\/li>\n<li><strong>Oil rises for 7<sup>th<\/sup> straight session<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-us-dollar-live-exchange-rate\/\">US Dollar<\/a> (USD) declines as fiscal stimulus progresses<\/strong><\/li>\n<li><strong>US JOLTS job openings Dec beat forecasts<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Indian Rupee (<a href=\"https:\/\/currencylive.com\/\">USD\/INR<\/a>) exchange rate is edging lower on Tuesday paring gains from the previous session. The pair settled +0.15% higher on Monday at 72.93. At 17:15 UTC, USD\/INR trades -0.08% at 72.85.<\/p>\n<p>The Rupee experienced a modest rebound versus the US Dollar supported by an upbeat performance in the equity markets overnight when Wall Street hit fresh all time highs reflecting strong risk sentiment.<\/p>\n<p>Risk on trade is lifting demand for riskier currencies whilst dragging on demand for safe havens such as the US Dollar.<\/p>\n<p>That said gains have been limited in domestic equities with Indian shares snapping a six day winning streak. The Nifty 50 and the Sensex both ended the session -0.04% lower. However, the benchmark indices are still up 11% so far this month.<\/p>\n<p>Oil prices have also limited gains in the Rupee. West Texas Intermediate trades +0.7% in its seventh straight session of gains. After surging 9% across last week, WTI trades up a further +2.6% this week.<\/p>\n<p>There is Indian macroeconomic data due to be released today. Investors will look ahead to Friday which sees the release of inflation data and industrial production numbers.<\/p>\n<p>The US Dollar is coming under pressure on Tuesday. The US Dollar index trades -0.4% at a weekly low at the time of writing as the recent rally runs out of steam.<\/p>\n<p>Markets are speculating that massive US fiscal stimulus is on its way shortly. The House of Democrats released the first draft text for the legislation that will make up the covid stimulus bill, taking the $1.9 trillion package a step closer to approval.<\/p>\n<p>On the data front US JOLTS job openings unexpectedly increase to a 5-month high. Vacancies rose to 6.65 million, ahead of expectations of 6 million. Crucially openings increased in business services and retail trade signaling that companies were looking for workers.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) gained despite weaker domestic equity markets Oil rises for 7th straight session US Dollar (USD) declines as fiscal stimulus progresses US JOLTS job openings Dec beat forecasts The US Dollar Indian Rupee (USD\/INR) exchange rate is edging lower on Tuesday paring gains from the previous session. The pair settled +0.15% higher on [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":47015,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1693,1381],"tags":[1666,1398,1862],"class_list":["post-108322","post","type-post","status-publish","format-standard","has-post-thumbnail","category-inr","category-usd","tag-inr","tag-usd","tag-usd-inr"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>USD\/INR: Rupee Rises, Gains Capped By Surging Oil - 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\/105371-usd-inr-rupee-rises-gains-capped-by-surging-oil\/\" \/>\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\\\/105371-usd-inr-rupee-rises-gains-capped-by-surging-oil\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105371-usd-inr-rupee-rises-gains-capped-by-surging-oil\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"USD\\\/INR: Rupee Rises, Gains Capped By Surging Oil\",\"datePublished\":\"2021-02-09T17:35:10+00:00\",\"dateModified\":\"2021-02-09T17:38:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105371-usd-inr-rupee-rises-gains-capped-by-surging-oil\\\/\"},\"wordCount\":339,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105371-usd-inr-rupee-rises-gains-capped-by-surging-oil\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/gbp-inr.jpg\",\"keywords\":[\"inr\",\"usd\",\"usd\\\/inr\"],\"articleSection\":[\"INR\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2021\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105371-usd-inr-rupee-rises-gains-capped-by-surging-oil\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105371-usd-inr-rupee-rises-gains-capped-by-surging-oil\\\/\",\"name\":\"USD\\\/INR: Rupee Rises, Gains Capped By Surging Oil - 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