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USD/INR ends down on likely FII inflows into the local stocks

14 May 2019 / Evening Brief

Indian Rupee

  • The rupee settled at 70.4350 against 70.51 at the previous close. The local unit moved in 70.30 -70.51 per dollar band intra-day.
  • USD/INR ends down on likely FII inflows into the local stocks. Dollar/rupee dropped both in onshore and offshore markets in early aftenoon trades on Tuesday as a rebound in local shares reduced fears of FII outflows. Traders said short-covering after nine straight days of fall has led to the rebound in equities. Major stock indices Nifty and Sensex that were down more than 0.5% in the moring are now trading more than 1% higher.

Global Currency

  • Foreign exchange markets are correcting some of Monday’s sharp movements in early trade in Europe on Tuesday, slowly absorbing the shock of the trade war escalation between the U.S. and China. The index had hit a three-week low of 96.822 as investors fled the U.S. equity market in search of safe havens and raised their bets on the Federal Reserve cutting interest rates this year.
  • The euro has been resilient despite the latest bout of trade tensions and it's probably down to people who were short euros vs emerging market currencies and are now buying euro back and unwinding euro hedges. Investor focus on Tuesday was also on euro zone industrial production for March and Germany's ZEW economic sentiment index for May.

Global Markets

  • Gold retreated slightly from a one-month high on Tuesday as equity markets enjoyed some respite after the United States and China adopted a more optimistic tone on their trade dispute. U.S. gold futures GCv1 were down 0.3% at $1,298.40.
  • Oil prices rose on Tuesday after the world's top oil exporter Saudi Arabia said explosive-laden drones had attacked two pumping stations belonging to state oil company Aramco.

Global Markets at one Glance

Markets at 5.00pm In INR % Change
USD/INR 70.445 70.445 -0.18
EUR/USD 1.12328 79.12 -0.13
GBP/USD 1.2947 91.19 -0.29
USD/JPY 109.661 0.64 -0.6
SEK/INR 9.5961 7.3410 0.0215
DKK/INR 6.276 11.2250 0.49
AUD/USD 1.4396 48.92 -0.11
DXY 96.98 -0.01
Index Today % Change
NIFTY 11222.90 0.73
SENSEX 37318 0.37
NIKKEI 21344.92 -0.27
HANG SENG 28514 0.81
SHANGHAI 2939.21 3.10
CAC# 5346.44 0.50
FTSE # 7230.05 -0.19
DAX # 12066.90 0.78
Commodities Today % Change
GOLD # 1293 0.34
SILVER# 15.05 0.06
BRENT # 71.26 -0.31
NYMEX # 91.63 -0.20
Today Today
OPEN 70.4450
HIGH 70.5100
LOW 70.3000
CLOSE 70.4350

Key Events of the Day

Date Time Currency Event Actual Forecast Previous
14/05/2019 14.00 GBP Average Earnings Index +Bonus (Mar) 3.2% 3.4% 3.5%
14/05/2019 14.00 GBP Claimant Count Change (Apr) 24.7K 24.2K 22.6K
14/05/2019 14.00 EUR German ZEW Economic Sentiment (May) -2.1 5.1 3.1

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