USD/INR ends up on defense related buying, likely FII outflows from local stocks, strong dlr

The rupee settled at 69.79 against 69.51 at the previous close. The local unit moved in 69.51-69.8425 per dollar band intra-day.
USD/INR ends up on defense related buying, likely FII outflows from local stocks, strong dollar. Euro traded down against the US dollar Friday after a slew of weak economic data releases from Eurozone. The spot pair traded higher on oil-related buying by nationalised banks amid likely overseas outflows from local stocks. Worsening risk-appetite amid uncertainty over the ongoing Sino-US trade war has increased safe haven demand for Japanese Yen, while Australian dollar was hurt by a weak Chinese industrial production data.

The dollar rose on Friday and was set for its biggest weekly gain in three weeks as investors squared up for a U.S. central bank meeting next week where policymakers might signal when it plans to cut interest rates for the first time in a decade. But with bets on U.S. interest rates swinging massively - market expectations are now for three rate cuts until end-2019, versus three hikes foreseen just six months ago - investors are growing cautious that policymaker rhetoric might underwhelm.
The euro EUR= edged up 0.02% to $1.1279, holding up after falling during the past two sessions, though it was still set for a weekly loss of about 0.5%.

Oil prices fell on Friday on fears trade disputes will dent global oil demand, although the attacks this week on two oil tankers in the Gulf of Oman gave prices a floor. rent crude futures LCOc1 were down 14 cents at $61.17 a barrel.
Gold hit its highest since April last year on Friday as intensifying political concerns in the Middle East and weak economic data from China and the United States pushed it above the $1,350 level.

Date	Time	Currency	Event	Actual	Forecast	Previous
14/06/2019	12.00	INR	WPI Inflation (YoY) (May)	2.45%	3.10%	3.07%

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