Chinese Yuan and Indian rupee are expected to dip over coming year

Chinese Yuan and Indian rupee are expected to dip over coming year

The Chinese Yuan as well as Indian rupee are supposed to sag versus the evergreen buck over the coming year, as a Reuters survey states, with the US dollar backed by American interest rate lifts, although financial analysts have already trimmed their quite bearish bets on Asian currencies from the previous survey.

While financial markets don’t actually expect the Fed to lift interest rates at its policy gathering later on Wednesday. The US number one financial institution’s tipped to raise rates twice more in 2017, with one likely as early as in June and it’s going to be supportive of the greenback.

China's Yuan’s up about 0.7% so far in 2017, having dropped nearly 7% last year. In November, the major Chinese currency reached an eight-year minimum, reacting to Donald Trump's unexpected election as American President.

As for the Indian rupee, this currency’s supposed to edge down to 66.23 per greenback in the year, which is more than 3% dip from where it was trading recently.

This year, the major Indian currency has soared more than 5% versus the US dollar, hitting a 20-month peak of 63.92 per dollar the previous month.


The US NFP Update: What to Wait for?
The US NFP Update: What to Wait for?

The US Bureau of Labor Statistics will announce average hourly earnings, nonfarm employment change (NFP), and the unemployment rate on May 6, at 15:30 MT time.

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The US Retail Sales Update
The US Retail Sales Update

The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.

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