India Rupee At Two-Week High On Likely Dollar Inflows

The rupee settled at 68.7450 against 69.15 at the previous close. The local unit moved in 68.70-69.37 per dollar band intra-day.
The Indian rupee rose to a two-week high on the first day of this fiscal year, logging a second straight day of gains against the dollar, helped by banks’ greenback sales amid likely inflows into local assets. Indian money markets were shut yesterday. Most Asian currencies ended lower against the dollar. There has been both foreign investors’ flow in the local bond market and some bunchedup inflows after the holiday. However move in the dollar index and crude oil prices are putting some depreciative pressure on local unit.

The dollar was close to its highest level in nearly three weeks in early trading in Europe Tuesday, as the rising likelihood of a disruptive and disorderly Brexit hit confidence in both the euro and sterling.
The euro fell to a three-and-a-half week low and stood precariously near its weakest since June 2017 on Tuesday, as investors seized on relatively strong data out of the United States to buy the dollar. The euro weakened 0.2 percent to $1.1190, slightly above the $1.1176 EUR=EBS level reached last month - the weakest since June 2017. The market is bearish and short, the poor data are not unexpected, but even so, a break through $1.1150 would surely trigger shortterm stops

Gold prices steadied near their lowest in about four-weeks on Tuesday as robust economic data from the United States and China tempered concerns of a global slowdown, boosting the dollar.
Oil hit a 2019 high above $69 a barrel on Tuesday on the prospect that more sanctions against Iran and further Venezuelan disruptions could deepen an OPEC-led supply cut, and as the market became less worried that demand may slow.

Date	Time	Currency	Event	Actual	Forecast	Previous
02-04-2019	14.00	GBP	Construction PMI (Mar)	49.7	49.8	49.5

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