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INR forecast: INR opens weaker at 70.31 as against yesterday close of 70.10 and may trade the day between 70.05-70.40 under two way price action.
Overnight, USD gained because of strong economic numbers: Consumer confidence cake in highest since 2000.
Trump admin declared Sept 5 as last date to receive public comments on new tariffs of 25% on Chinese import of USD 200 bn. This is the usual process. After the comments are received, US Dept of Trade tales about 2 to 4 weeks to decide and issue circular. Therefore, if trade talks do not result in any headway, expect new tariffs to come in being around Sept end.
Trump admin declared Sept 5 as last date to receive public comments on new tariffs of 25% on Chinese import of USD 200 bn. This is the usual process. After the comments are received, US Dept of Trade tales about 2 to 4 weeks to decide and issue circular. Therefore, if trade talks do not result in any headway, expect new tariffs to come in being around Sept end.