{"id":113008,"date":"2022-09-02T16:20:40","date_gmt":"2022-09-02T15:20:40","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=113008"},"modified":"2022-09-02T16:20:40","modified_gmt":"2022-09-02T15:20:40","slug":"107248-usd-inr-rupee-treads-water-as-usd-falls-post-jobs-report","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/107248-usd-inr-rupee-treads-water-as-usd-falls-post-jobs-report\/","title":{"rendered":"USD\/INR: Rupee treads water as USD falls post jobs report"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/inr-indian-rupee-live-exchange-rate\/\">Indian Rupee<\/a> (INR) holds steady but is set for a weekly gain<\/strong><\/li>\n<li><strong>Indian trade deficit narrows slightly<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-us-dollar-live-exchange-rate\/\">US Dollar<\/a> (USD) falls after a solid jobs report<\/strong><\/li>\n<li><strong>US jobs are being added &amp; people are returning to the workforce<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Indian Rupee (USD\/INR) exchange rate is holding steady on Friday after strong gains in the previous session. The pair settled +0.2% higher on Thursday at 79.71 after trading a range of 79.28-79.71. At 15:00 UTC, USD\/INR trades +0.01% at 79. 72. \u00a0\u00a0Across the week the pair is set to lose -0.35%.<\/p>\n<p>India\u2019s trade deficit, the difference between imports and exports, came in at $28.7 billion, a slight pullback from the record $30 billion which was recorded in July.<\/p>\n<p>The trade deficit is so high, owing to the strong USD, which is creating a headache for authorities.<\/p>\n<p>Separately the Reserve Bank of India reiterated today that inflation had peaked and could ease back to around 5% in the June quarter. The RBI added that inflation was high owing to supply-side issues rather than demand.<\/p>\n<p>The US Dollar is holding steady against the Rupee but is falling against its major peers. The US Dollar Index, which measures the greenback versus a basket of major currencies, trades -0.40% at the time of writing at 109.29. The USD is set to gain 0.44% across the week.<\/p>\n<p>The USD is falling after the latest US non-farm payroll data showed that 315,000 jobs were added in August, slightly above the 300,000 forecasts. Meanwhile, the unemployment rate rose to 3.7%, up from 3.5%. This was owing to the participation rate rising. Basically, more people have joined the workforce as the cost of living rises.<\/p>\n<p>More people joining the workforce is easing pressure on wages Average wage growth held steady at 5.2%, when expectations had been for a tick higher to 5.3%. The market reined in hawkish Federal Reserve bets following the data, which has helped the USD lower.<\/p>\n<p>According to the CME Fedwatch tool the market is pricing in a 57% probability of a 75 basis point rate hike. This is down from 74% before the data was released.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) holds steady but is set for a weekly gain Indian trade deficit narrows slightly US Dollar (USD) falls after a solid jobs report US jobs are being added &amp; people are returning to the workforce The US Dollar Indian Rupee (USD\/INR) exchange rate is holding steady on Friday after strong gains in [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":47269,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1693,1381],"tags":[1666,1398,1862],"class_list":["post-113008","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 treads water as USD falls post jobs report - 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