EVENING REPORT-AUG 18.

India's rupee ended 17 month low of $43.59 levels for the day and fell for a fifth day, the longest losing streak in more than eight months, on speculation refiners stepped up purchases of crude oil. The dollar fell from a seven-month high before U.S. government housing and inflation reports this week that may add to speculation the Federal Reserve will delay raising interest rates. The U.S currency retreated from the strongest level snapping a three-day advance, after crude oil and gold gained, eroding the allure of dollar-denominated assets. Euro has been extending the uptrend against its major counterparts. The Eurozone trade balance showed a deficit of EUR0.1 billion in June, while economists were looking for a surplus of EUR1.2 billion, a report from the Eurostat showed today. However, the deficit narrowed from the EUR3.9 billion deficit recorded in May, revised down from the EUR4.6 billion estimated initially. The dollar fell from a seven-month high against the yen before U.S. government housing and inflation reports this week that may add to speculation the Federal Reserve will delay raising interest rates. The British pound slid as an industry report showed U.K. home prices dropped the most since at least 2002. The Australian dollar rose on speculation the Federal Reserve will delay raising interest rates, maintaining the South Pacific nations' yield advantage over the U.S.