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Higher tracking the spot pair during European trades Friday

11 January 2019 / Evening Brief

Indian Rupee

  • The rupee settled at 70.4850 against 70.4125 at the previous close. The local unit moved in 70.35-70.5850 per dollar band intra‐day.
  • The U.S. dollar was pushed lower on Thursday after Fed Chairman Jerome Powell restated that the central bank will evaluate the economy before making any decisions on monetary policy. “We have the ability to be patient and watch patiently and carefully as we watch the economy evolve. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, fell 0.19% to 94.93. Dollar/rupee in the offshore market also traded higher tracking the spot pair during European trades Friday.

Global Currency

  • Sterling strengthened on Friday, reversing earlier losses against the dollar and euro after a newspaper report cited cabinet ministers as saying Britain could seek to delay its scheduled departure date from the European Union.
  • The euro was on track for its biggest weekly rise in four months on Friday as the U.S. dollar weakened on signs that the Federal Reserve could slow down the pace of interest rate hikes. EUR jumped 0.23% to 1.1524 as pushed higher by the falling greenback. Still, the single currency remains under pressure due to weak economic data and expectations the European Central Bank will keep rates low in 2019.

Global Markets

  • U.S. oil exports have set off a scramble to build Gulf Coast ports to handle more than 3 million barrels per day in new supplies expected over the next five years.
  • Gold rose on Friday as continued dollar weakness kept the precious metal on track for a fourth straight weekly gain. The $1,300 resistance level for gold is looking very vulnerable. Risk aversion has been supportive, but as we're seeing now, its primary driver is the dollar," said OANDA senior market analyst Craig Erlam.

Global Markets at one Glance

Markets at 5.00pm In INR % Change
USD/INR 70.495 70.495 0.12
EUR/USD 1.15281 81.28 0.34
GBP/USD 1.28211 90.29 0.62
USD/JPY 108.325 0.65 0.26
SEK/INR 8.8744 7.9436
DKK/INR 6.280 11.2250 0.49
AUD/USD 1.3831 50.95
DXY 95.321 -0.23
Index Today % Change
NIFTY 10794.95 -0.25
SENSEX 36009.84 -0.27
NIKKEI 20359.7 0.97
HANG SENG 26667.27 0.55
SHANGHAI 2553.8313 0.74
CAC# 4790.11 -0.32
FTSE # 7264.61 0.0042
DAX # 10896.56 -0.23
Commodities Today % Change
GOLD # 1291.86 0.43
SILVER# 15.561 0
BRENT # 61.92 0.39
NYMEX # 52.92 0.63
Today Today
OPEN 70.4200
HIGH 70.5850
LOW 70.3500
CLOSE 70.4850

Key Events of the Day

Date Time Currency Event Actual Forecast Previous
11-Jan-19 15.00 GBP GDP (MoM) 0.2% 0.1% 0.1%
11-Jan-19 15.00 GBP Manufacturing Production (MoM) (Nov) -0.3% 0.4% -0.6%
11-Jan-19 15.00 GBP Monthly GDP 3M/3M Change 0.3% 0.3% 0.4%

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