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USD/INR Lower As Dollar Index Ends 2018 At Near 2-Month Low

1 January 2019 / Morning Brief

Indian Rupee

  • The Indian rupee little changed at 69.62 pair now at 69.7175 against 69.77 previous close.
  • Pair to tip in 69.55- 69.95 range today.
  • The Indian rupee was higher against the dollar in early trade, on the back of the dollar index’s decline to a two‐month low on the last day of 2018. The rupee is unlikely to rise beyond current levels, considering the major support points for the dollar at 69.30 and then at 68.80‐68.90. Rupee will increasingly become non‐receptive to positive news flow and will be highly sensitive to negative news.

Global Currency

  • The dollar was broadly steady in thin year‐end trading on Monday with the Australian dollar AUD=D3 leading gainers as tensions over a trade dispute between the United States and China faded on expectations of progress in trade talks. China and the United States have been in a trade war for much of 2018, shaking world financial markets as the flow of hundreds of billions of dollars’ worth of goods between the world's largest economies has been disrupted by tariffs.
  • Sterling has been battered this year by Brexit woes, but it rose to a three‐week high in quiet trade. It rose more than half a percent against the dollar at $1.2765 but has lost more than 6 percent of its value versus the dollar this year.

Global Markets

  • Oil prices ended with full‐year losses for the first time since 2015, after a desultory fourth quarter that saw buyers flee the market over growing worries about a supply glut and mixed signals related to renewed U.S. sanctions on Iran.
  • Gold traded near a more than six‐month peak hit early on Monday but was headed for its first annual decline since 2015, having lost this year to dollar strength due to trade tensions and rising interest rates by the U.S. Federal Reserve. U.S. gold futures GCv1 settled down 0.1 percent at $1,281.30 per ounce.

Global Markets at one Glance

Markets Today In INR % Change
USD/INR 69.717 69.725 0.23
EUR/USD 1.1466 79.94 0.19
GBP/USD 1.2723 88.70 -0.01
USD/JPY 109.92 0.63 0
SEK/INR 8.8773 7.8534 -0.0028
DKK/INR 6.2233 11.2025 0.0325
AUD/USD 1.4178 49.13 0
1M 2.51988 -0.40814  
3M 2.797 -0.35829  
6M 2.87313 -0.30829  
1Y 3.01313 -0.18314  
Index Today % Change
NIFTY 10822.4 -0.37
SENSEX 35939.47 -0.36
BANK NIFTY 27060.15 -0.37
SGX NIFTY 10838 -0.18
NIKKEI 20014.77 -0.31
HANG SENG 25845.7 1.34
SHANGHAI 2493.8962 0.44
ASX200 5646.4 -0.14
DOW JONES 23327.46 1.15
S&P500 # 2506.85 0.85
NASDAQ # 6329.965 0.71
Key Events of the Day
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