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USD/INR opens down on weak dlr, higher risk-appetite

10 June 2019 / Morning Brief

Indian Rupee

  • USD/INR opens down on weak dlr, higher risk-appetite
  • Pair to tip in 69.20 -69.55 range today.
  • Dollar/rupee opened lower on Monday on improved risk-appetite following a tweet by US President Donald Trump on a successful trade deal with Mexico amid a weak greenback after a lower-than-expected US employment data on Friday. Few foreign banks sold tracking the weak dollar. Optimism around the Us Mexico deal in the weekend boosted risk-appetite globally. The dollar plunged against its other major counterpart later of Friday after a dismal US jobs data fanned hopes of a Fed rate cut later this year.

Global Currency

  • Group 20 finance leaders on Sunday said that trade and geopolitical tensions have "intensified", raising risks to improving global growth, but they stopped short of calling for a resolution of the deepening U.S.-China trade conflict. President Donald Trump had threatened to impose 5% import tariffs on all Mexican goods starting on Monday.
  • Those views were bolstered on Friday when data showed nonfarm payrolls increased by 75,000 jobs last month, much smaller than the 185,000 additions estimated by economists in a Reuters poll, suggesting the loss of momentum in economic activity was spreading to the labour market. funds rate futures are still pricing in more than two 25-basis point rate hikes by the end of this year even after their retreat early on Monday after the U.S.-Mexico migration deal.

Global Markets

  • Gold prices retreated from a 14-month peak on Monday after an agreement between the United States and Mexico to avert a tariff war crimped safe-haven demand for the yellow metal.
  • Oil prices rose on Monday after Saudi Arabia said producer club OPEC and Russia were likely to keep withholding supplies, and in relief as the United States withdrew its threat to impose import tariffs on Mexico, removing one cloud over the global economy.

Global Markets at one Glance

Markets Today In INR % Change
USD/INR 69.4475 69.46 0.16
EUR/USD 1.13073 78.52 -0.13
GBP/USD 1.27085 88.25 -0.06
USD/JPY 108.617 0.64 -0.29
SEK/INR 9.4188 7.3733 -0.0087
DKK/INR 6.1993 11.2025 0.0325
AUD/USD 1.4342 48.40 0.05
1M 2.43763 -0.41543  
3M 2.52450 -0.35929  
6M 2.55088 -0.31129  
1Y 2.63925 -0.22029  
Index Today % Change
NIFTY 11945.35 0.63
SENSEX 39886.02 0.68
BANK NIFTY 31184.25 0.38
SGX NIFTY 11975 0.66
NIKKEI 21102.65 1.04
HANG SENG 27514 2.07
SHANGHAI 2855.56 0.98
ASX200 6443.90 0.95
DOW JONES 26062.55 0.27
S&P500 # 2883.28 0.30
NASDAQ # 7440.20 0.33
Key Events of the Day
Date Time Currency Event Forecast Previous
10-Jun-2019 14.00 GBP GDP (YoY) 185K 1.8%
10-Jun-2019 14.00 GBP GDP (MoM) -0.1%
10-Jun-2019 14.00 GBP Manufacturing Production (MoM) (Apr) -1.0% 0.9%
10-Jun-2019 14.00 GBP Monthly GDP 3M/3M Change 0.5%

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