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Category: CRYPTO NEWS
The post USD/INR holds positive ground amid tensions over Kashmir appeared on BitcoinEthereumNews.com. The Indian Rupee trades in negative territory in Thursday’s Asian session. The attacks on Kashmir created a negative sentiment, weighing on the INR. The US weekly Initial Jobless Claims will be published later on Thursday. The Indian Rupee (INR) faces some selling pressure on Thursday as terrorist attacks in Kashmir, India, weighed on sentiment. Furthermore, rising crude oil prices undermine the Indian currency, as India is the world’s third-largest oil consumer. However, the weaker US Dollar might help limit the INR’s losses. Investors will keep an eye on the US weekly Initial Jobless Claims due later on Thursday. Also, the Chicago Fed National Activity Index, Durable Goods Orders, and Existing Home Sales are due later on Thursday. Indian Rupee softens as risk sentiment sours Late Wednesday, US President Donald Trump’s administration stated that it has spoken to 90 countries regarding tariffs already. The administration noted that the US will set tariffs for China over the next two to three weeks, and it depends on China how soon tariffs can come down. At least 28 people were killed and many wounded on Tuesday when terrorists opened fire in a picturesque meadow near the resort town of Pahalgam in J&K, marking the deadliest attack since 2019. India has vowed to retaliate against the terror attack in the northern Indian region of Jammu and Kashmir. The US, China, and other nations also strongly condemned the attack on Wednesday. The HSBC India Manufacturing Purchasing Managers Index (PMI) improved to 58.4 in April from 58.1 in March. The Indian Services PMI rose to 59.1 in April versus 58.5 prior. Finally, the Composite PMI climbed to 60.0 in April from 59.5 in March. A preliminary reading of US S&P Global’s Composite PMI fell to 51.2 in April from 53.5 in March. Meanwhile, the Manufacturing PMI rose…
2025-04-24T03:40:34+00:00