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Indian Rupee At 1-Wk High As CPI Eases, PM’s Economic Review Eyed

14 September 2018 / Morning Brief

Indian Rupee

  • The Indian rupee little changed at 71.70 pair now at 71.81 against 72.1850 previous close.
  • Pair to tip in 71.55- 71.95 range today.
  • The Indian rupee rose to a one-week high against the dollar in early trade, tracking lower-than-expected retail inflation data at home and in the U.S. Investors await to see if the policymakers announce any measures to stem the recent rout in the rupee after a meeting with the Prime Minister Narendra Modi over the weekend. The rupee had hit a record low of 72.92 on Sep. 12.

Global Currency

  • The dollar dipped on Friday after weaker-than-expected U.S. inflation data, with the currency already sagging on signs of reduced trade tensions between the United States and China. The dollar's index against a basket of six major currencies was a shade lower at 94.491 .DXY after slipping 0.3 percent on Thursday, when it touched 94.428, its lowest since Aug. 31.
  • The euro inched up 0.05 percent to $1.1695 EUR= after gaining more than 0.5 percent overnight when it brushed a two-week high of $1.1701. The ECB kept policy unchanged as expected on Thursday, staying on track to end its bond purchases this year and raise interest rates next autumn.

Global Markets

  • Oil on Friday clawed back some of its losses from the previous session, when prices fell the most in a month, as concerns about oil supply are countering worries that emerging market crises and trade disputes could dent demand. Brent crude LCOc1 was up 8 cents, or 0.1 percent, at $78.26 a barrel.
  • Gold prices edged higher on Friday as softer-than-expected U.S. consumer prices data dimmed the case for a faster pace of policy tightening by the Federal Reserve. Higher rates make gold less attractive since it does not pay interest and costs to store and insure.

Global Markets at one Glance

Markets Today In INR % Change
USD/INR 71.775 71.7825 0.24
EUR/USD 1.16942 83.94 0.31
GBP/USD 1.31183 94.11 0.31
USD/JPY 111.842 0.64 0.23
SEK/INR 8.9578 8.0126 0.0188
DKK/INR 6.3799 11.25 0.0347
AUD/USD 1.3892 51.66 0.32
1M 2.13444 -0.401  
3M 2.3315 -0.35643  
6M 2.56063 -0.319  
1Y 2.86456 -0.22  
Index Today % Change
NIFTY 11458.5 0.78
SENSEX 37942.43 0.6
BANK NIFTY 27063.75 0.91
SGX NIFTY 9347.5 0.33
NIKKEI 22821.32 0.96
HANG SENG 27232.54 0.81
SHANGHAI 2683.0311 -0.13
ASX200 6169.1 0.66
DOW JONES 26145.99 0.57
S&P500 # 2904.18 0.53
NASDAQ # 7561.687 0
Key Events of the Day
Date Time Currency Event Forecast Previous
14-09-2018 12.00 INR WPI Inflation (YoY) (Aug) 4.65% 5.09%
14-09-2018 18.00 USD Core Retail Sales (MoM) (Aug) 0.05% 0.06%
14-09-2018 18.00 USD Retail Sales (MoM) (Aug) 0.4% 0.5%

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