The Indian rupee little changed at 69.80 pair now at 69.90 against
69.94 previous close.
Pair to tip in 69.60- 70.00 range today.
The Indian rupee rose to an over one‐week high against the dollar in
thin early trade, as investor appetite for risk assets improved on
positive comments by U.S. President Donald Trump on a possible
trade deal with China. The Indian rupee was supported as regional
shares gained after Trump’s optimistic comments on the U.S.-China
trade deal overshadowed a sharp jump in crude prices.
Global Currency
The euro EUR= quoted at $1.1440, trading flat versus the dollar.
Although the single currency has gained versus the dollar in recent
weeks, economic growth and inflation in Europe remain much
weaker than the European Central Bank's expectations. The euro is
set to lose around 4.5 percent versus the dollar in 2018.
The dollar traded narrowly against its peers on Monday, as risk
sentiment remained fragile over heightened concerns of slowing
global growth and a partial U.S. government shutdown. U.S.
President Trump said on Sunday that he had a "long and very good
call" with his Chinese counterpart Xi Jinping and that a possible trade
deal between the United States and China was progressing well.
Global Markets
Oil prices climbed on the last trading day of the year on Monday,
taking a cue from firmer stock markets, but were on track for the
first yearly decline in three years amid concerns of a persistent
supply glut. Brent crude futures - the international benchmark for oil
prices ‐ rose 42 cents, or 0.8 percent, to $53.63 a barrel.
Gold prices fell slightly on Monday as Asian equities benefited from
hints of progress on the long‐drawn China-U.S. trade spat, while the
dollar held steady in a narrow range. U.S. gold futures dipped 0.1
percent to $1,282 per ounce.
