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KUALA LUMPUR: The ringgit opened marginally higher against the US dollar as markets continue to assess whether the Federal Reserve (Fed) would pivot following the latest jobs market report last week, said an analyst.
The Chief Investment Officer of Franklin Templeton Fixed Income is of the view that India’s time to attract foreign flows in its fixed income markets has come with the country's inclusion in the JP Morgan Global Bond Index. She believes that interest rates have not peaked yet; we’re still a year away from seeing the first cut by the US Fed in this cycle
Spot gold was down 0.5% at $1,983.59 per ounce at 10:46 a.m. ET (1546 GMT) after rising above the key $2,000 level on Friday. U.S. gold futures fell 0.4% to $1,990.40.
In the Sensex pack, Tata Motors was the top gainer, rising nearly 3% as the firm reported a net profit of Rs 3,764 crore for the quarter ended September 2023, against a net loss of Rs 945 crore a year ago. Meanwhile, Tech Mahindra, Infosys, ICICI Bank, M&M, HCL Tech, and Wipro also opened higher.
The rupee is expected to remain in the same range as RBI continues to sell $ and protect rupee from any depreciation beyond 83.30