Offers & Promotions Download Brochure Get a Call Back Download App
Contact us

USD/INR opens at 2-mo high on likely FII outflows, higher Brent

13 May 2019 / Morning Brief

Indian Rupee

  • The Indian rupee little changed at 70.14 pair now at 70.12 against 69.91 previous close.
  • Pair to tip in 69.85-70.25 range today.
  • Dollar/rupee opened at an over two-months high on Monday on likely FII outflows from the local stocks, higher Brent oil prices. US-China trade tensions continued to weigh on risk appetite of the investors. Foreign banks are buying dollars may be behalf of overseas investors, who are pulling out from the local stocks. Also, brent is inching towards $71/ barrel level.

Global Currency

  • The safe-haven yen firmed slightly and the Chinese yuan and Australian dollar dipped on Monday, after the latest escalation in the trade war between the United States and China. The world's two biggest economies appeared at a deadlock over trade negotiations on Sunday as Washington demanded promises of concrete changes to Chinese law and Beijing said it would not swallow any "bitter fruit" that harmed its interests.
  • While we hope for the best, our baseline case is now for the United States and China to fail to reach a deal, meaning tariffs will get raised on the remainder of Chinese exports to the United States.

Global Markets

  • Gold prices steadied on Monday as trade talks between the United States and China hit a wall, raising doubts over whether the two countries would be able to reach a deal, thereby boosting demand for safe-haven assets. Spot gold XAU= gained 0.1% to at $1,286.59 per ounce.
  • Oil futures edged down on Monday, pressured by fears over global economic growth amid a standoff in Sino-U.S. trade talks. Brent crude futures were at $70.49 a barrel.

Global Markets at one Glance

Markets Today In INR % Change
USD/INR 70.145 70.1575 0.21
EUR/USD 1.12281 78.76 0.09
GBP/USD 1.301 91.25 0.30
USD/JPY 109.774 0.64 0.35
SEK/INR 9.6286 7.2851 0.002
DKK/INR 6.2615 11.2025 0.0325
AUD/USD 1.4328 48.94 -0.01
1M 2.48338 -0.41129  
3M 2.58638 -0.34757  
6M 2.61975 -0.30729  
1Y 2.72513 -0.20214  
Index Today % Change
NIFTY 11246.10 -0.27
SENSEX 37439.78 -0.07
BANK NIFTY 28911.60 -0.44
SGX NIFTY 11282.00 -0.01
NIKKEI 21225.68 -0.56
HANG SENG 28514.00 0.81
SHANGHAI 2910.04 -0.99
ASX200 6295.40 -0.25
DOW JONES 25729.15 -0.93
S&P500 # 2855.92 -1.00
NASDAQ # 7510.60 -1.13
Key Events of the Day
Date Time Currency Event Forecast Previous

Share this post?