{"id":114676,"date":"2023-06-29T12:39:07","date_gmt":"2023-06-29T11:39:07","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=114676"},"modified":"2023-07-03T06:13:19","modified_gmt":"2023-07-03T05:13:19","slug":"usd-inr-rupee-steady-after-a-hawkish-powell","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/usd-inr-rupee-steady-after-a-hawkish-powell\/","title":{"rendered":"USD\/INR: Rupee steady after a hawkish Powell"},"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 as the market mood improves<\/strong><\/li>\n<li><strong>Oil prices jumped 3% yesterday<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-us-dollar-live-exchange-rate\/\">US Dollar<\/a> (USD) falls versus major peers<\/strong><\/li>\n<li><strong>USD GDP data due shortly<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Indian Rupee (USD\/INR) exchange rate is holding steady after gains from the previous session. The pair rose 0.05% yesterday, settling on Wednesday at 82.02. At 11:30 UTC, USD\/INR trades +0.00% at 82.02 and trades in a range of 82.00 to 82.10<\/p>\n<p>The rupee has remained very much range-bound amid expectations of a more hawkish Federal Reserve. The market mood is improving, which is helping to support riskier currencies and assets such as the Rupee.<\/p>\n<p>Meanwhile oil prices are holding steady after jumping 3% in the previous session after stockpile data showed a huge draw on inventories of 9.6 million barrels. Even so, oil prices remain below the $70 level ahead of the OPEC meeting next week.<\/p>\n<p>The US Dollar is flat against the Rupee but falling against its major peers. The US Dollar Index, which measures the greenback versus a basket of major currencies, trades at -0.04% at the time of writing at 102.86, after strong gains in the previous session.<\/p>\n<p>The U.S. dollar rose firmly in the previous session after U.S. Federal Reserve Chair Jerome Powell\u2019s hawkish comments at the ECB\u2019s annual meeting in Sintra, Portugal.<\/p>\n<p>The head of the US central bank hinted that the Federal Reserve could raise interest rates at consecutive meetings. While the Fed is indicating that they will raise interest rates twice more across the year, the market is still pricing in an 80% probability of a 25 basis point rate hike in July and nothing more across the year.<\/p>\n<p>Attention will now turn to US Q1 GDP data which is expected to confirm the previous 1.4% quarter on quarter annualised growth down from 2.6% in Q4 of 2022.<\/p>\n<p>The key data release for this week will be tomorrow&#8217;s core PCE reading which is the fed&#8217;s preferred gauge for inflation. Hot inflation could support the Fed\u2019s hawkish outlook.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) holds steady as the market mood improves Oil prices jumped 3% yesterday US Dollar (USD) falls versus major peers USD GDP data due shortly The US Dollar Indian Rupee (USD\/INR) exchange rate is holding steady after gains from the previous session. The pair rose 0.05% yesterday, settling on Wednesday at 82.02. At [&hellip;]<\/p>\n","protected":false},"author":163946598,"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-114676","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 steady after a hawkish Powell - 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\/usd-inr-rupee-steady-after-a-hawkish-powell\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\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\\\/usd-inr-rupee-steady-after-a-hawkish-powell\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/usd-inr-rupee-steady-after-a-hawkish-powell\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/INR: Rupee steady after a hawkish Powell\",\"datePublished\":\"2023-06-29T11:39:07+00:00\",\"dateModified\":\"2023-07-03T05:13:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/usd-inr-rupee-steady-after-a-hawkish-powell\\\/\"},\"wordCount\":333,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/usd-inr-rupee-steady-after-a-hawkish-powell\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/indian-rupee-money.jpg\",\"keywords\":[\"inr\",\"usd\",\"usd\\\/inr\"],\"articleSection\":[\"INR\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/usd-inr-rupee-steady-after-a-hawkish-powell\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/usd-inr-rupee-steady-after-a-hawkish-powell\\\/\",\"name\":\"USD\\\/INR: Rupee steady after a hawkish Powell - 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