{"id":114764,"date":"2023-07-17T12:00:34","date_gmt":"2023-07-17T11:00:34","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=114764"},"modified":"2023-07-26T09:20:09","modified_gmt":"2023-07-26T08:20:09","slug":"107646-usd-inr-holds-steady-after-gains-last-week","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/107646-usd-inr-holds-steady-after-gains-last-week\/","title":{"rendered":"USD\/INR: Holds steady after gains last week"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/inr-indian-rupee-live-exchange-rate\/\">Indian Rupee<\/a> (INR) is flat after rising 0.6% last week<\/strong><\/li>\n<li><strong>China GDP rises 6.3% YoY vs 7.3% forecast<\/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>US NY manufacturing state index is due<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Indian Rupee (USD\/INR) exchange rate is holding steady after losses last week. The pair fell -0.48% in the previous week, settling on Friday at 82.04. At 10:30 UTC, USD\/INR trades -0.0% at 82.04 and trades in a range of 82.03 to 82.20.<\/p>\n<p>The Rupee is holding steady amid a weaker USD and following Chinese GDP data, which was weaker than expected. China\u2019s economy grew by 6.3% annually in Q2, up from 4.5% in the first three months of the year but falling short of the 7.3% forecast. The data raises concerns that the post-pandemic recovery in Asia\u2019s largest economy is running out of steam and may require further stimulus.<\/p>\n<p>The data fueled a risk-off mood in Asia, hurting demand for riskier assets and currencies.<\/p>\n<p>Separately oil prices are falling after China\u2019s GDP underwhelmed. West Texas Intermediate has fallen 1.6% in the European session and trades at $74.00 after falling from $77.00 a 10-week high reached last week.<\/p>\n<p>The US Dollar is falling across the board. The US Dollar Index, which measures the greenback versus a basket of major currencies, trades at -0.14% at the time of writing at 101.45, extending losses from the previous week.<\/p>\n<p>The USD fell sharply last week after data showed that inflation in the region cooled by more than expected. Both consumer prices and wholesale prices eased by more than expected, resulting in the market reassessing the outlook for rate hikes by the Federal Reserve.<\/p>\n<p>The market is pricing in a 96% probability of a 25 basis point rate hike in July but only a 22% probability that the Fed will hike again by the end of the year.<\/p>\n<p>There is no high impacting US economic data due to be released today. NEW York state manufacturing is the only release and is expected to fall to -4.3 from 6.6. Weak data could pull the USD lower.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) is flat after rising 0.6% last week China GDP rises 6.3% YoY vs 7.3% forecast US Dollar (USD) falls versus major peers US NY manufacturing state index is due The US Dollar Indian Rupee (USD\/INR) exchange rate is holding steady after losses last week. The pair fell -0.48% in the previous week, [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":5541,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1666,1398,1862],"class_list":["post-114764","post","type-post","status-publish","format-standard","has-post-thumbnail","category-eur","category-gbp","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: Holds steady after gains last week - 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\/107646-usd-inr-holds-steady-after-gains-last-week\/\" \/>\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\\\/107646-usd-inr-holds-steady-after-gains-last-week\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107646-usd-inr-holds-steady-after-gains-last-week\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/INR: Holds steady after gains last week\",\"datePublished\":\"2023-07-17T11:00:34+00:00\",\"dateModified\":\"2023-07-26T08:20:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107646-usd-inr-holds-steady-after-gains-last-week\\\/\"},\"wordCount\":340,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107646-usd-inr-holds-steady-after-gains-last-week\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100610-gbp-eur-german-industrial-figures.jpg\",\"keywords\":[\"inr\",\"usd\",\"usd\\\/inr\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107646-usd-inr-holds-steady-after-gains-last-week\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107646-usd-inr-holds-steady-after-gains-last-week\\\/\",\"name\":\"USD\\\/INR: Holds steady after gains last week - 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