Bullish positions in the Indian rupee firmed over the past two weeks, a Reuters ...
- Bullish positions in the Indian rupee firmed over the past two weeks, a Reuters poll showed on Thursday, ahead of general election, while long positions in the yuan unwound on concerns over slowing domestic demand and uncertainty around Sino-U.S. trade talks.
The confidence rode on brightening re-election prospects of Prime Minister Narendra Modi and his ruling Bharatiya Janta Party, translating into inflows of $5.99 billion so far this year into equities.Meanwhile, bullish bets on the Chinese yuan receded after a raft of weak economic data showed faltering momentum of external trade and domestic demand, and lack of clarity on trade negotiations between China and the U.S.
Reuters on Thursday reported that China and the U.S. had made progress in all areas in trade talks but sticking points still remained and there was no definite timetable for a deal. Besides Philippines and India, Indonesia has room to reverse some of last year’s multiple interest rate hikes aimed at protecting the local unit from emerging market turmoil, economists said.Last week, the Philippine central bank kept its benchmark interest rate steady for a third straight meeting. However, it warned that there were risks to economic growth in 2019 if a budget impasse in Congress was not resolved soon.
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