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India Rupee Logs Worst Wk In 3 Mths On Importer Bids, Trade Data

18 April 2019 / Evening Brief

Indian Rupee

  • The rupee settled at 69.3550 against 69.49 at the previous close. The local unit moved in 69.33-69.61 per dollar band intra-day.
  • The Indian rupee posted its biggest weekly drop in three months against the dollar, as oil and other importers stepped up greenback purchases while trade gap widened. Weak trade data and importers’ dollar demand amid higher crude oil prices were some of the factors that kept the dollar/rupee pair higher during the week. This week being a truncated one, trading volumes too were impacted. For the next trigger, the trade deal between the US and China will be the key factor to watch out for, along with the trends of general elections.

Global Currency

  • The dollar index, which measures the greenback against a basket of six major currencies, was at 96.672, also showing no sign of breaking out of the narrow range it has been in since the end of March. The dollar has struggled for direction although it rose 0.5% against the Korean won after the announcement of a new weapons test from North Korea, first since the breakdown of talk with the U.S. last year.
  • The euro fell to a one-week low on Thursday after weak manufacturing surveys in Europe raised concerns about an economy struggling to gain traction before the long Easter weekend. The single currency was up as much as 0.1 percent before the data but fell 0.4 percent to its lowest level.

Global Markets

  • Oil prices eased on Thursday, although a decline in U.S. inventories, ongoing supply cuts from OPEC and its allies, and U.S. sanctions on Venezuela and Iran all limited losses.
  • The roof isn't falling in on China yet. At least not in the way gold bugs had hoped. But the dollar isn't reaching towering heights, so that's working out for the yellow metal.

Global Markets at one Glance

Markets at 5.00pm In INR % Change
USD/INR 69.61 69.61 0.3
EUR/USD 1.13025 78.66 0.3
GBP/USD 1.30881 91.05 0.24
USD/JPY 111.927 0.62 0.34
SEK/INR 9.2647 7.5135 0.0289
DKK/INR 6.201 11.2250 0.49
AUD/USD 1.3971 49.79 0.24
DXY 96.937 -0.01
Index Today % Change
NIFTY 11787.15 0.83
SENSEX 39275.64 0.95
NIKKEI 22221.66 0.24
HANG SENG 30129.87 1.07
SHANGHAI 3253.5978 2.39
CAC# 5512.21 0.06
FTSE # 7264.61 0.0042
DAX # 12103.7 0.69
Commodities Today % Change
GOLD # 1283.0787 -0.35
SILVER# 14.948 0
BRENT # 71.24 0.08
NYMEX # 63.53 0.21
Today Today
OPEN 69.4600
HIGH 69.6100
LOW 69.3300
CLOSE 69.3550

Key Events of the Day

Date Time Currency Event Actual Forecast Previous
18-04-2019 13.00 EUR German Manufacturing PMI (Apr) 44.5 45.0 44.1
18-04-2019 14.00 GBP Retail Sales (MoM) (Mar) 1.1% -0.3% 0.6%

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