USD/INR ends flat in thin trade as Budget cues eyed

The rupee settled at 68.9250 against 68.9450 at the previous close. The local unit moved in 68.92-69.0625 per dollar band intra-day.
USD/INR ends flat in thin trade as Budget cues eyed. The US and China agreed on Saturday to resume trade negotiations after President Donald Trump offered concessions to his Chinese counterpart Xi Jinping when the two met at the sidelines of the G20 summit in Japan. The greenback surged against major counterparts as sentiments picked up following an agreement between the US and China to resume talks to resolve their trade war.

The U.S. dollar slipped on Tuesday in Asia despite a trade truce between the U.S. and China. The Aussie dollar gained after the Reserve Bank of Australia (RBA) cut interest rates. The U.S. dollar index that tracks the greenback against a basket of other currencies slipped 0.1% to 96.352. U.S. President Donald Trump and his Chinese counterpart Xi Jinping have agreed during a bilateral meeting at the summit in Osaka.
The single currency edged as much as 0.25% higher to the day's highs at $1.1322 before retracing some of its rise to stand 0.1% up on the day at $1.1300. The euro got a brief boost after a media report that European Central Bank policymakers are in no rush to cut interest rates at a July policy meeting.

Oil prices fell on Tuesday as concerns over demand in a slowing economy outweighed the passage of an extension of output cuts by OPEC and its allies.
Oil prices fell on Tuesday as concerns over demand in a slowing economy outweighed the passage of an extension of output cuts by OPEC and its allies.

Date	Time	Currency	Event	Actual	Forecast	Previous
2/7/2019	14.00	GBP	Construction PMI (Jun)	43.1	49.3	48.6

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