USD/INR prov ends Tuesday at Rs 69.70/$1 vs prev close Rs 69.90/$1

The rupee settled at 69.90 against 69.69 at the previous close. The local unit moved in 69.7475-69.9375 per dollar band intra-day.
USD/INR prov ends Tuesday at Rs 69.70/$1 vs prev close Rs 69.90/$1. Reserve Bank of India may have intervened as some nationalised banks were on the paying side.Some corporates and some big state-run banks were paying premia, could be a positioning ahead of the Fed review or on behalf of the RBI,” said a trader at a state-run bank. Premium for the one-year dollar was Rs 2.95, easing from day's high of Rs 2.98 and compared to the previous close of Rs 2.95. The yield surged to as high as 4.54%.

The dollar weakened against its rivals on Tuesday, heading back towards a recent three-month low before a U.S. central bank meeting gets underway with expectations growing the Fed will signal its first rate cut in a decade. The dollar edged 0.1% lower at 97.437 and not far away from a three-month low of 96.46 hit earlier this month.
The euro dropped and German government bond yields hit -0.30% for the first time on Tuesday after European Central Bank chief Mario Draghi said the bank would provide more stimulus if inflation failed to pick up. The euro zone's central bank will need to ease policy again, possibly through new rate cuts or asset purchases, if inflation does not head back to its target.

Oil prices fell for a second day on Tuesday on signs that global economic growth is being hit by the U.S.-China trade war, though losses were capped by Middle East tensions after last week's tanker attacks.
Gold prices rose on Tuesday, having eased in the two previous sessions, supported by expectations of dovish statements from the U.S. Federal Reserve, which begins its two-day monetary policy meeting later in the day.

Date	Time	Currency	Event	Actual	Forecast	Previous
18/06/19	14.30	EUR	German ZEW Economic Sentiment (Jun)	-21.1	-5.7	-2.1
18/06/19	14.30	EUR	CPI (YoY) (May)	1.2%	1.2%	1.7%

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