{"id":108471,"date":"2021-02-18T15:35:27","date_gmt":"2021-02-18T15:35:27","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=108471"},"modified":"2021-02-18T19:51:11","modified_gmt":"2021-02-18T19:51:11","slug":"105407-usd-inr-indian-gains-as-us-jobless-claims","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/105407-usd-inr-indian-gains-as-us-jobless-claims\/","title":{"rendered":"USD\/INR: Indian Gains As US Jobless Claims Fall"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/inr-indian-rupee-live-exchange-rate\/\">Indian Rupee<\/a> (INR) strengthens for second day<\/strong><\/li>\n<li><strong>Indian GDP expected to expand in Oct \u2013 Dec 2020<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-us-dollar-live-exchange-rate\/\">US Dollar<\/a> (USD) falls as jobless claims jump unexpectedly<\/strong><\/li>\n<li><strong>FOMC minutes revealed the Fed\u2019s holding its dovish stance<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Indian Rupee (<a href=\"https:\/\/currencylive.com\/\">USD\/INR<\/a>) exchange rate is extending losses on Thursday for a second straight session. \u00a0The pair settled -0.05% lower on Wednesday at 72.81. At 14:15 UTC, USD\/INR trades -0.3% at 72.61.<\/p>\n<p>Barclays is the latest bank to upwardly revise its growth forecast for India. The Chief India Economic at Barclays expects the Indian economy to return to modest growth in the October \u2013 December quarter after a record 23.9% contraction in the April \u2013 June quarter and a 7.5% contraction in the July \u2013 September quarter.<\/p>\n<p>Barclays pointed out that growth at headline level is returning to normal. Manufacturing, industrial and agricultural sectors\u2019 growth continues to outperform the service sector which is more vulnerable to pandemic restrictions and social distancing.<\/p>\n<p>Barclays expects India\u2019s economy to contract -6.5% this fiscal year and then grow 8.5% next fiscal year.<\/p>\n<p>India\u2019s GDP for the October \u2013 December quarter is due to be released on next Friday 26<sup>th<\/sup> February.<\/p>\n<p>The US Dollar is trading lower across the board. The US Dollar Index which measures the greenback versus its major peers trades -0.4%, almost paring all of its 0.5% gains from the previous session.<\/p>\n<p>US jobless claims unexpectedly jumped to 861,000, a four-week high as the US labour market recovery stumbles, despite covid cases falling. Economists had been expecting the number of Americans signing up for unemployment benefits to decline slightly from 793,000 the previous week to 765,000.<\/p>\n<p>The data came following the latest FOMC meeting minutes which showed that the Fed was in no rush to start tapering support. Policy makers expect it to take time for the Fed\u2019s goals of higher inflation and a stronger labour market to be reached.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) strengthens for second day Indian GDP expected to expand in Oct \u2013 Dec 2020 US Dollar (USD) falls as jobless claims jump unexpectedly FOMC minutes revealed the Fed\u2019s holding its dovish stance The US Dollar Indian Rupee (USD\/INR) exchange rate is extending losses on Thursday for a second straight session. \u00a0The pair [&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-108471","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 - 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