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USD/INR ends down on easing US-China trade tension, lower Brent

15 May 2019 / Evening Brief

Indian Rupee

  • The rupee settled at 70.3350 against 70.4350 at the previous close. The local unit moved in 70.1750 -70.3850 per dollar band intra-day.
  • Dollar/rupee ended down for the second straight day Wednesday on selling by foreign banks amid easing US-China trade woes and lower crude oil prices. Risk-sentiments eased after Trump's comment and foreign banks sold in spot today. Oil is also down reducing oil related dollar buying. Risk-sentiments took a breather after US President Donald Trump's reference to the US-China trade war as a "little squabble. Adding to that, crude oil prices eased after a surprise rise in US crude stockpiles.

Global Currency

  • The dollar was higher in early trading in Europe on Wednesday, supported by comments from senior Federal Reserve officials playing down the likelihood of interest rate cuts, and by a fresh bout of safe-haven buying on geopolitical tensions. The dollar index, which measures the greenback against a basket of six major currencies, was at 97.36, up nearly half a percent from Monday’s lows and up 0.1% from late on Tuesday.
  • The euro held at a one-week low on Wednesday, ignoring data from Germany that showed the economy returned to growth in the first quarter, as trade tensions between the world's two biggest economies cast a shadow over risk appetite.

Global Markets

  • Gold prices steadied on Wednesday, having retreated from a one-month peak hit in the previous session as optimism surrounding trade talks between Washington and Beijing soothed investor concerns, boosting global stocks and the dollar.
  • Oil fell on Wednesday after data showed a surprise rise in U.S. crude inventories and the U.S.-Chinese trade dispute threatened oil demand, although Middle East tensions capped losses.

Global Markets at one Glance

Markets at 5.00pm In INR % Change
USD/INR 70.345 70.345 0.03
EUR/USD 1.1182 78.66 -0.19
GBP/USD 1.28894 90.62 -0.15
USD/JPY 109.352 0.64 0.23
SEK/INR 9.6333 7.3023 -0.0199
DKK/INR 6.267 11.2250 0.49
AUD/USD 1.4454 48.65 -0.12
DXY 97.56 0.02
Index Today % Change
NIFTY 11157 -0.58
SENSEX 37114 -0.54
NIKKEI 21004 -0.67
HANG SENG 28266 -0.58
SHANGHAI 2939.21 3.10
CAC# 53.20 -0.34
FTSE # 7247 -0.03
DAX # 11942 -0.31
Commodities Today % Change
GOLD # 1296 0.34
SILVER# 15.05 0.06
BRENT # 70.89 -0.31
NYMEX # 61.05 -0.20
Today Today
OPEN 70.3400
HIGH 70.3850
LOW 70.1750
CLOSE 70.3350

Key Events of the Day

Date Time Currency Event Actual Forecast Previous
15/05/2019 11.30 EUR German GDP (QoQ) (Q1) 0.4% 0.4% 0.0

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