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USD/INR opened down on FII inflows, as trade tensions ease

15 May 2019 / Morning Brief

Indian Rupee

  • The Indian rupee little changed at 70.34 pair now at 70.2750 against 70.4350 previous close.
  • Pair to tip in 70.20-70.60 range today.
  • Dollar/rupee opened down on Wednesday as foreign investors likely bought local stocks while trade tensions between the US and China seemed easing. Foreign banks are selling dollar may be on behalf of overseas investors. Brent oil prices eased on rise in US stockpiles and the risk appetite of the investors increased as the trade tensions eased between US and China. Local stocks opened higher Wednesday tracking gains in Asian peers on hopes of easing global trade worries.

Global Currency

  • The dollar held steady while the Australian dollar hovered near a more than four-month low on Wednesday, as traders awaited European and U.S. data for clues on whether the worst is over for the global economy. The dollar was supported as trade issues remained foremost on investors' minds after U.S. President Donald Trump on Tuesday insisted that trade talks with China had not collapsed.
  • The euro was last a shade firmer at $1.1206. The single currency ended the previous session weaker after Italy's deputy prime minister said the country was ready to break European Union budget rules on debt levels if necessary to boost employment.

Global Markets

  • Gold prices were little changed on Wednesday in Asia, still trading below the key $1,300 level, as global stocks recovered from an earlier slump this week amid escalating U.S.-China trade tension.
  • Oil prices fell on Wednesday after data showed a surprise rise in U.S. crude stockpiles and Chinese industrial output for April grew less than expected, but prices were supported by mounting tensions.

Global Markets at one Glance

Markets Today In INR % Change
USD/INR 70.255 70.2625 -0.09
EUR/USD 1.12091 78.75 -0.08
GBP/USD 1.29132 90.72 -0.05
USD/JPY 109.652 0.64 -0.16
SEK/INR 9.6095 7.3110 -0.0112
DKK/INR 6.2714 11.2025 0.0325
AUD/USD 1.443 48.67 -0.15
1M 2.43763 -0.41543  
3M 2.52450 -0.35929  
6M 2.55088 -0.31129  
1Y 2.63925 -0.22029  
Index Today % Change
NIFTY 11274.10 0.48
SENSEX 37535.12 0.57
BANK NIFTY 28922. 0.32
SGX NIFTY 11268 0.46
NIKKEI 21142.90 0.36
HANG SENG 28330 0.80
SHANGHAI 2926.26 1.46
ASX200 6290.40 0.80
DOW JONES 25643.50 0.19
S&P500 # 2844.36 0.21
NASDAQ # 7437 0.34
Key Events of the Day
Date Time Currency Event Forecast Previous
15-May-19 11.30 GBP German GDP (QoQ) (Q1) 0.4% 0.0%
15-May-19 18.00 USD Core Retail Sales (MoM) (Apr) 0.7% 1.2%
15-May-19 18.00 USD Retail Sales (MoM) (Apr) 0.2% 1.6%

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