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India Rupee Falls Tracking Asian Peers; RBI’s Eased ECB Rules Aid

18 January 2019 / Morning Brief

Indian Rupee

  • The Indian rupee little changed at 71.0650 pair now at 71.0850 against 71.0450 previous close.
  • Pair to tip in 70.90‐ 71.30 range today.
  • The Indian rupee fell against the dollar in early trade, as higher oil prices fueled concern over the widening of the nation’s current account deficit, while investors perused mixed reports on Sino‐ American trade relations. The uptick in crude prices and mixed reports on U.S.‐China trade talks have kept sentiment subdued for the rupee. State Bank of India plans to raise at least $1 billion via dollar bond issue

Global Currency

  • The dollar was firm against the yen on Friday as growing optimism of progress in Sino‐U.S. trade talks supported broader appetite for risk. Chinese Vice Premier Liu He will visit the United States on Jan. 30 and 31 for the latest round of trade talks aimed at resolving the trade standoff between the world's two largest economies. the yen, the dollar edged up to 109.31 yen
  • The dollar held firm against the euro, while the pound was steady after rising overnight on hopes of a second referendum on Britain's membership in the European Union following Prime Minister Theresa May's crushing defeat in parliament of her Brexit deal. The single currency was up less than a tenth of percent, last changing hands at $1.1397.

Global Markets

  • Oil prices rose on Friday after a report from the Organization of the Petroleum Exporting Countries (OPEC) showed its production fell sharply last month, easing fears about prolonged oversupply.
  • Gold prices dropped on Thursday on hopes of a thaw in U.S.‐Sino relations and on increasing hopes that a 'hard Brexit' scenario can be avoided. Gold futures for February delivery on the Comex division of the New York Mercantile Exchange gained $3.65

Global Markets at one Glance

Markets Today In INR % Change
USD/INR 71.1425 71.1525 0.16
EUR/USD 1.13894 81.03 0.14
GBP/USD 1.2976 92.31 0.10
USD/JPY 109.361 0.65 0.01
SEK/INR 9.0197 7.8875 0.0154
DKK/INR 6.3506 11.2025 0.0325
AUD/USD 1.3906 51.14 0.17
1M 2.5075 -0.42043  
3M 2.77344 -0.333  
6M 2.84581 -0.29643  
1Y 3.00838 -0.17557  
Index Today % Change
NIFTY 10878.9 -0.24
SENSEX 36296.85 -0.21
BANK NIFTY 27490.15 -0.14
SGX NIFTY 9347.5 0.33
NIKKEI 20402.27 -0.20
HANG SENG 27048.74 1.1
SHANGHAI 2586.4046 1.05
ASX200 5879.6 0.5
DOW JONES 24370.1 0.67
S&P500 # 2635.96 0.76
NASDAQ # 6718.453 0
Key Events of the Day
Date Time Currency Event Forecast Previous
18-Jan-2019 15:30 GBP Retail Sales (MoM) (Dec) -0.8% 1.4%

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