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USD/INR ends flat on lack of fresh triggers

25 June 2019 / Evening Brief

Indian Rupee

  • The rupee settled at 69.34 against 69.35 at the previous close. The local unit moved in 69.23-69.3875 per dollar band intra-day.
  • USD/INR ends flat on lack of fresh triggers. Dollar/rupee in offshore market remained little changed during European trades Tuesday tracking the spot pair. The spot pair remained flat tracking steady crude oil prices and a flat greenback amid lack of fresh cues to drive the market. Investors await fresh cues from the upcoming G20 meet in Japan due this weekend where the US President Donald Trump will meet his Chinese counterpart Xi Jinping.

Global Currency

  • The dollar continued its decline in early trading in Europe Tuesday, with the yen and euro strengthening as traders anticipate the erosion of the interest rate premium on dollar assets. The dollar fell to a 14-month low of 106.79 against the yen, before recovering slightly to trade at 106.97.
  • Trump considers his meeting with Xi an opportunity to "maintain his engagement" and see where China is on their trade dispute. Sterling benefited from the broad dollar weakness, rising to $1.2754 GBP=D3 , up 0.1% on the day. However the pound is likely to remain under pressure because of Brexit concerns, with eurosceptic Boris Johnson the frontrunner to become the next leader and prime minister. euro was 0.3% firmer against the Swiss franc at 1.1108 francs.

Global Markets

  • Oil prices inched lower on Tuesday, weighed down by concerns over declining crude demand and a Saudi pledge to offset any shortfall from countries hit by sanctions, as the market shrugged off risks to supply linked to tensions around Iran.
  • Gold scaled a six-year peak on Tuesday as a weaker dollar, prospects of monetary easing by the U.S. Federal Reserve and simmering U.S.-Iran tensions continued to stoke bullish sentiment in the market.

Global Markets at one Glance

Markets at 5.00pm In INR % Change
USD/INR 69.35 69.35 0.19
EUR/USD 1.13811 78.99 0.05
GBP/USD 1.27347 88.34 0.19
USD/JPY 107.051 0.65 0.42
SEK/INR 9.2419 7.5039 0.0453
DKK/INR 6.178 11.2250 0.49
AUD/USD 1.4352 48.35 0.24
DXY 96.02 0.04
Index Today % Change
NIFTY 11796 0.82
SENSEX 39434 0.79
NIKKEI 21193 -0.43
HANG SENG 28174 -1.15
SHANGHAI 2982 -0.87
CAC# 5516 -0.09
FTSE # 7411 0.09
DAX # 12278 0.02
Commodities Today % Change
GOLD # 1430 0.24
SILVER# 15.42 -0.04
BRENT # 64.46 -0.40
NYMEX # 57.65 -0.25
Today Today
OPEN 69.3100
HIGH 69.3875
LOW 69.2300
CLOSE 69.3400

Key Events of the Day

Date Time Currency Event Actual Forecast Previous

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USD/INR ends at 1-week low on likely FPI inflows into local debt, weak dlr

24 June 2019 / Evening Brief

Indian Rupee

  • The rupee settled at 69.35 against 69.55 at the previous close. The local unit moved in 69.33-69.6025 per dollar band intra-day.
  • Dollar/rupee ended at over one-week low Monday on likely overseas portfolio inflows into local government debt, while a globally weak greenback further weighed on dollar demand. Some overseas portfolio inflows into local government debt segment was supporting demand for the local currency. Also, tracking a weak dollar, spot ended down. The dollar plunged against other major counterparts on increased bets on a possible Fed rate cut in the upcoming July policy after dovish comments from Fed members.

Global Currency

  • The dollar fell against its rivals on Monday after sustaining its biggest weekly drop in four months last week as the U.S. central bank opened the doors for a likely rate cut as early as next month. The dollar has been on the receiving end of a broad market selloff in major currencies as global central banks led by the U.S. Federal Reserve signalled a dovish outlook on monetary policy due to growing signs of a weak global economy.
  • The pound was broadly steady as the leadership contest for the ruling conservative Party entered its final stretch with Jeremy Hunt facing rival Boris Johnson to replace outgoing Prime Minister Theresa May. the dollar GBP=D3 , the pound was broadly steady at $1.2751 while it was a shade weaker against the euro EURGBP=D3 at 89.31.

Global Markets

  • Oil prices rose on Monday, extending large gains last week that were prompted by tensions between Iran and the United States, as Washington was set to announce new sanctions on Tehran.
  • Gold prices advanced on Monday, hovering near a six-year high touched in the previous session, as dovish signals from major central banks and heightened tensions between the United States and Iran boosted demand for the safe-haven metal.

Global Markets at one Glance

Markets at 5.00pm In INR % Change
USD/INR 69.36 69.36 -0.34
EUR/USD 1.13954 79.07 -0.11
GBP/USD 1.27553 88.45 -0.23
USD/JPY 107.284 0.65 -0.31
SEK/INR 9.3031 7.4556 0.0125
DKK/INR 6.179 11.2250 0.49
AUD/USD 1.4381 48.25 -0.07
DXY 96.10 -0.03
Index Today % Change
NIFTY 11699.65 -0.21
SENSEX 39122.96 -0.18
NIKKEI 21285.99 0.12
HANG SENG 28502 -0.02
SHANGHAI 3008.15 0.21
CAC# 5513.50 0.21
FTSE # 7404.80 0.32
DAX # 12274.44 -0.54
Commodities Today % Change
GOLD # 1409 0.74
SILVER# 15.37 0.47
BRENT # 65.11 -0.15
NYMEX # 57.77 0.59
Today Today
OPEN 69.6000
HIGH 69.6025
LOW 69.3300
CLOSE 69.3500

Key Events of the Day

Date Time Currency Event Actual Forecast Previous
24/06/19 13.30 EUR German Ifo Business Climate Index) 97.4 97.4 97.9

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USD/INR ends up on oil bids, FII outflows from local stocks

21 June 2019 / Evening Brief

Indian Rupee

  • The rupee settled at 69.55 against 69.44 at the previous close. The local unit moved in 69.52-69.75 per dollar band intra-day.
  • Dollar/rupee ended higher Friday on oil-related buying by nationalised banks, while overseas outflows from local stocks aided. Oil bids supported the pair along with FII outflows from local equities. Sharp rise in crude oil prices increased dollar demand from oil importers. Dollar/rupee ended at Rs 69.55/$1 Friday compared to its previous close of Rs 69.44/$1. Local stocks ended almost one percent lower Friday afternoon dragged by weak global cues amid ongoing geopolitical tensions and surging crude oil prices.

Global Currency

  • The dollar was headed for a big weekly loss on Friday and the euro a solid gain after a dovish shift by the Federal Reserve, and investors also briefly pushed the yen to a new five-month high amid rising tensions between the United States and Iran. In joining the European Central Bank by opening the door to interest rate cuts and more stimulus to counter an economic slowdown, the Fed sent the dollar to its biggest two-day loss of 2019.
  • The euro hit a high of $1.1319, up 0.2% on the day, after French and German business activity strengthened more than expected in June, according to surveys. The common currency, up 0.9% since Monday, later settled at $1.1309.

Global Markets

  • Brent oil rallied above $65 per barrel and was set to notch up a 6% gain this week on fears of a U.S. military attack on Iran that would disrupt flows from the Middle East, which provides more than a fifth of the world's oil output.
  • Gold prices steadied after shooting up to a near six-year high on Friday, surpassing the key $1,400 level on dovish signals from major central banks and rising tensions in the Middle East.

Global Markets at one Glance

Markets at 5.00pm In INR % Change
USD/INR 69.55 0.03
EUR/USD 1.13142 78.69 0.22
GBP/USD 1.26577 87.99 -0.32
USD/JPY 107.492 0.65 -0.13
SEK/INR 9.3954 7.4036 0.0203
DKK/INR 6.197 11.2250 0.49
AUD/USD 1.4474 48.04 0.05
DXY 96.10 -0.03
Index Today % Change
NIFTY 11724 -0.91
SENSEX 39194 -1.03
NIKKEI 21306 -0.89
HANG SENG 28191 2.49
SHANGHAI 3001 0.50
CAC# 5513 0.07
FTSE # 7434 0.13
DAX # 12334 -0.17
Commodities Today % Change
GOLD # 1400 0.25
SILVER# 15.31 -1.16
BRENT # 65.30 -1.32
NYMEX # 57.44 0.65
Today Today
OPEN 69.7500
HIGH 69.7500
LOW 69.5200
CLOSE 69.5500

Key Events of the Day

Date Time Currency Event Actual Forecast Previous
21/06/19 13.00 EUR German Manufacturing PMI (Jun) 45.4 44.6 44.3

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