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Indian Rupee Logs Best Day In 2 Weeks On Upbeat Data, Global Cues

13 December 2018 / Evening Brief

Indian Rupee

  • 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.

Global Currency

  • 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

Global Markets

  • 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 In INR % Change
USD/INR 71.617 71.69 -0.3
EUR/USD 1.13764 81.50 -0.2
GBP/USD 1.26502 90.57 -0.07
USD/JPY 113.435 0.63 -0.45
SEK/INR 9.0642 7.9011 0.0003
DKK/INR 6.3929 11.2250 0.0325
AUD/USD 1.383 -0.35
DXY 71.617 71.69 -0.3
Index Today % Change
NIFTY 10791.55 0.5
SENSEX 35929.64 0.42
NIKKEI 26816.35 0.65
HANG SENG 9347.5 0.33
SHANGHAI 21816.19 0.99
CAC# 26524.35 1.29
FTSE # 2634.0491 1.23
DAX # 5661.6 0.14
Commodities Today % Change
GOLD # 2.43238 -0.41071
SILVER# 2.779 -0.35729
BRENT # 2.88063 -0.32529
NYMEX # 3.0895 -0.21229
Today Today
OPEN 71.7000
HIGH 71.7200
LOW 71.5100
CLOSE 71.6800

Key Events of the Day

Date Time Currency Event Actual Forecast Previous

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