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Indian Rupee Lower Tracking Oil; Trade Talk Optimism Aids

15 April 2019 / Morning Brief

Indian Rupee

  • The Indian rupee little changed at 69.07 pair now at 69.27 against 69.15 previous close.
  • Pair to tip in 69.05-69.40 range today.
  • The Indian rupee fell against the dollar in early trade, tracking a jump in crude oil prices in the previous session, while spike in long-term U.S. yields outweighed upbeat regional risk appetite on U.S.-China trade deal hopes. Foreign banks are currently on bid, while oil prices edging closer to $72 per barrel is also weighing on the sentiments for the rupee. Traders will continue to watch lumpy dollar inflows and risk-on sentiments in global markets will also limit further losses in the local unit.

Global Currency

  • The safe-haven Swiss franc has also eased against the euro, which strengthened to 1.1329 franc recovering its losses made late last month to hit a three-week high on the franc. The common currency traded at $1.1304 EUR keeping intact its slow recovery from $1.1183 touched on April 2. It rose to as high as $1.1324 on Friday.
  • The more positive mood helped offset any concerns about upcoming trade talks between the United States and Japan, in which Washington is expected to include a currency provision in a bilateral trade agreement. are seeing a classical risk-on market. But Uchida also believes the dollar's upside may be limited, given that speculators have already built up large long positions in the U.S. currency.

Global Markets

  • Oil prices edged lower on Monday after international benchmark Brent hit a fresh five-month high in the previous session, but concerns over global supplies kept prices well supported. Brent crude oil were at $71.46 a barrel at 0233 GMT, down 9 cents, or 0.1%, from their last close, having hit their highest since Nov. 12 on Friday at $71.87.
  • Gold prices fell to a more than one-week low on Monday, as stronger-than-expected data from China and a robust start to the U.S. earnings season soothed concerns about global economic slowdown, denting the appeal of bullion. Gold eased 0.1 percent to $1,288.85 per ounce.

Global Markets at one Glance

Markets Today In INR % Change
USD/INR 69.3025 69.3125 0.18
EUR/USD 1.13081 78.37 0.23
GBP/USD 1.30927 90.74 0.35
USD/JPY 111.945 0.62 0.21
SEK/INR 9.2612 7.4831 0.0195
DKK/INR 6.1863 11.2025 0.0325
AUD/USD 1.3945 49.69 0.01
1M 2.47738 -0.41229  
3M 2.601 -0.36043  
6M 2.63775 -0.31129  
1Y 2.74838 -0.20371  
Index Today % Change
NIFTY 11670.65 0.23
SENSEX 38871.93 0.27
BANK NIFTY 30126.4 0.63
SGX NIFTY 9347.5 0.33
NIKKEI 21870.56 0.73
HANG SENG 30084.73 0.58
SHANGHAI 3224.4507 1.12
ASX200 6248.4 -0.05
DOW JONES 26412.3 1.03
S&P500 # 2907.41 0.66
NASDAQ # 7628.15 0
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