SMBC Turns Relatively More Bearish on Indian Rupee -- Market Talk

Dow Jones

2025/01/17

0646 GMT - Sumitomo Mitsui Banking Corp. turns relatively more bearish on the Indian rupee, especially for 1H, says Jeff Ng, head of Asia Macro Strategy. India's fundamentals have been less stellar compared with six months ago, he says in a research report, noting 3Q's GDP slowdown. Also, inflation eased to 5.22% in December from a peak of 6.21% two months ago, and some anecdotal reports show actual inflation is lower than reported, Ng says. This is providing RBI with some scope to cut rates, with hopes of a Feb. 7 cut rising, Ng adds. Ng raises his USD/INR end-1Q target to 87.00 from 85.80. USD/INR is little changed at 86.59. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

January 17, 2025 01:46 ET (06:46 GMT)

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India's fundamentals have been less stellar compared with six months ago, he says in a research report, noting 3Q's GDP slowdown. Also, inflation eased to 5.22% in December from a peak of 6.21% two months ago, and some anecdotal reports show actual inflation is lower than reported, Ng says. This is providing RBI with some scope to cut rates, with hopes of a Feb. 7 cut rising, Ng adds. Ng raises his USD/INR end-1Q target to 87.00 from 85.80. USD/INR is little changed at 86.59. (ronnie.harui@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 17, 2025 01:46 ET (06:46 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SMBC","symbol_name":"Southern Missouri Bancorp","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2504185317","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2504185317","pubTimestamp":1737096360,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0646 GMT - Sumitomo Mitsui Banking Corp. turns relatively more bearish on the Indian rupee, especially for 1H, says Jeff Ng, head of Asia Macro Strategy. India's fundamentals have been less stellar compared with six months ago, he says in a research report, noting 3Q's GDP slowdown. Also, inflation eased to 5.22% in December from a peak of 6.21% two months ago, and some anecdotal reports show actual inflation is lower than reported, Ng says. This is providing RBI with some scope to cut rates, with hopes of a Feb. 7 cut rising, Ng adds. Ng raises his USD/INR end-1Q target to 87.00 from 85.80. USD/INR is little changed at 86.59. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"SMBC":"Southern Missouri Bancorp","BK4195":"互助储蓄与抵押信贷金融服务","BK4211":"区域性银行"},"translate_title":"SMBC对印度卢比变得相对更加看跌——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SMBC":1},"content_text":"0646 GMT - Sumitomo Mitsui Banking Corp. turns relatively more bearish on the Indian rupee, especially for 1H, says Jeff Ng, head of Asia Macro Strategy. India's fundamentals have been less stellar compared with six months ago, he says in a research report, noting 3Q's GDP slowdown. Also, inflation eased to 5.22% in December from a peak of 6.21% two months ago, and some anecdotal reports show actual inflation is lower than reported, Ng says. This is providing RBI with some scope to cut rates, with hopes of a Feb. 7 cut rising, Ng adds. Ng raises his USD/INR end-1Q target to 87.00 from 85.80. USD/INR is little changed at 86.59. (ronnie.harui@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  January 17, 2025 01:46 ET (06:46 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}