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USD/INR opens down on positive outcome of US-China trade talk, weak dollar

11 October 2019 / Morning Brief

Indian Rupee

  • The Indian rupee little changed at 70.83 pair now at 70.92 against 71.07 previous close.
  • Pair to tip in 70.70-71.05 range today.
  • Dollar/rupee opened lower Friday after US-China trade talks went “very well” as quoted by US President Donald Trump on Thursday amid weak dollar. Optimistic trade talks between US-China is supporting rupee. Trump in his interaction with reporters said, "The negotiation with China went very well. We are looking forward to another part of meeting with the Vice premier at White House." US-China might be able to ease a trade talks and US may delay tariff hike scheduled for next week.

Global Currency

  • Hopes of progress in U.S.-China trade talks and optimistic comments from Europe on Brexit pushed back the safe-haven yen and lifted the British pound and euro early on Friday. Irish Prime Minister Leo Varadkar said on Thursday a Brexit deal could be clinched by the end of October to allow the United Kingdom to leave the European Union in an orderly fashion, after what he called a very positive meeting with Boris U.S. President Donald Trump told reporters that his team had a "very, very good negotiation with China," and reiterated his plans to meet with Liu at the White House on Friday
  • The Chinese yuan was also buoyed, with offshore yuan traded at 7.105 yuan per dollar , having hit a three-week high of 7.0990 to the dollar the previous day

Global Markets

  • Oil prices climbed early on Friday, building on gains in the previous session, after producer club OPEC hinted at making deeper cuts in supply while optimism was revived over talks between the United States and China to end their trade war.
  • Gold prices edged lower on Friday as U.S. President Donald Trump's remarks on progress in Sino-U.S. trade talks lifted risk appetite, while palladium was set to end a three-day winning streak.

Global Markets at one Glance

Markets Today In INR % Change
USD/INR 70.925 70.93 -0.08
EUR/USD 1.10164 78.13 -0.04
GBP/USD 1.2441 88.23 -0.05
USD/JPY 107.975 0.66 -0.21
SEK/INR 9.8321 7.2136 0.0005
DKK/INR 6.3312 11.2025 0.0325
AUD/USD 1.4754 48.06 -0.09
1M 2.02475 -0.48971  
3M 2.11513 -0.45114  
6M 2.07025 -0.39729  
1Y 2.04913 -0.32014  
Index Today % Change
NIFTY 11359 +1.08%
SENSEX 38293 +1.09%
BANK NIFTY 28546 +1.90%
SGX NIFTY 11373 +1.00%
NIKKEI 21785 +1.08%
HANG SENG 26271 +2.19%
SHANGHAI 2960 +0.44%
ASX200 6601 +0.83%
DOW JONES 26496 +0.57%
S&P500 # 2938 +0.64%
NASDAQ # 7950 +0.60%
Key Events of the Day
Date Time Currency Event Forecast Previous

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