The rupee settled at 71.68 against 72.01 at the previous close. The
local unit moved in 71.51‐71.72 per dollar band intra-day.
The Indian rupee recorded its best day in two weeks and rose for the
first time in four days against the dollar, as lower‐than‐expected
retail inflation data at home lifted local sentiments and added to a
risk‐on rally in the global markets. Yesterday’s retail inflation data
and industrial output data were both positive for the rupee, while
markets are expecting some easing in the liquidity front from the
new RBI governor, so overall markets sentiments are positive for
bonds, supporting appreciation in the rupee.
The euro EUR held steady at $1.1367 after tacking on nearly half a
percent during the previous session. The ECB is all but certain to
formally end its lavish bond purchase scheme on Thursday but will
take an increasingly dim view on growth, raising the likelihood that
its next step in trimming stimulus will be delayed.
Sterling jumped as much as 1.5 percent in New York trading
Wednesday to $1.2672. While it remains close to that. Given the
number of votes that went against her, and the uncertainty ahead ‐
May still faces the daunting task of getting her Brexit plan past
Parliament the pound next move is likely to be lower
Oil prices steadied on Thursday, under pressure from high
inventories but buoyed by a drawdown in U.S. crude stockpiles and
indications that the trade war between the United States and China
may be easing.
Gold fell on Thursday as stock markets gained for a third straight
day, but the metal held in a tight $6 range ahead of next week's
Federal Open Market Committee meeting when the U.S. central
bank is widely expected to raise interest rates.
Global Markets at one Glance
Markets at 5.00pm
Key Events of the Day
Share this post?
Download RouteForex Mobile App
And Track Your Entire Portfolio
Request a Call Back
Your submission is received and our Expert will contact you soon