USD/INR opens down on positive outcome of US-China trade talk, weak dollar

The Indian rupee little changed at 70.83 pair now at 70.92 against 71.07 previous close.
Pair to tip in 70.70-71.05 range today.
Dollar/rupee opened lower Friday after US-China trade talks went “very well” as quoted by US President Donald Trump on Thursday amid weak dollar. Optimistic trade talks between US-China is supporting rupee. Trump in his interaction with reporters said, "The negotiation with China went very well. We are looking forward to another part of meeting with the Vice premier at White House." US-China might be able to ease a trade talks and US may delay tariff hike scheduled for next week.

Hopes of progress in U.S.-China trade talks and optimistic comments from Europe on Brexit pushed back the safe-haven yen and lifted the British pound and euro early on Friday. Irish Prime Minister Leo Varadkar said on Thursday a Brexit deal could be clinched by the end of October to allow the United Kingdom to leave the European Union in an orderly fashion, after what he called a very positive meeting with Boris U.S. President Donald Trump told reporters that his team had a "very, very good negotiation with China," and reiterated his plans to meet with Liu at the White House on Friday
The Chinese yuan was also buoyed, with offshore yuan traded at 7.105 yuan per dollar , having hit a three-week high of 7.0990 to the dollar the previous day

Oil prices climbed early on Friday, building on gains in the previous session, after producer club OPEC hinted at making deeper cuts in supply while optimism was revived over talks between the United States and China to end their trade war.
Gold prices edged lower on Friday as U.S. President Donald Trump's remarks on progress in Sino-U.S. trade talks lifted risk appetite, while palladium was set to end a three-day winning streak.

Research