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USD/INR prov ends Tuesday at Rs 69.70/$1 vs prev close Rs 69.90/$1

18 June 2019 / Evening Brief

Indian Rupee

  • The rupee settled at 69.90 against 69.69 at the previous close. The local unit moved in 69.7475-69.9375 per dollar band intra-day.
  • USD/INR prov ends Tuesday at Rs 69.70/$1 vs prev close Rs 69.90/$1. Reserve Bank of India may have intervened as some nationalised banks were on the paying side.Some corporates and some big state-run banks were paying premia, could be a positioning ahead of the Fed review or on behalf of the RBI,” said a trader at a state-run bank. Premium for the one-year dollar was Rs 2.95, easing from day's high of Rs 2.98 and compared to the previous close of Rs 2.95. The yield surged to as high as 4.54%.

Global Currency

  • The dollar weakened against its rivals on Tuesday, heading back towards a recent three-month low before a U.S. central bank meeting gets underway with expectations growing the Fed will signal its first rate cut in a decade. The dollar edged 0.1% lower at 97.437 and not far away from a three-month low of 96.46 hit earlier this month.
  • The euro dropped and German government bond yields hit -0.30% for the first time on Tuesday after European Central Bank chief Mario Draghi said the bank would provide more stimulus if inflation failed to pick up. The euro zone's central bank will need to ease policy again, possibly through new rate cuts or asset purchases, if inflation does not head back to its target.

Global Markets

  • Oil prices fell for a second day on Tuesday on signs that global economic growth is being hit by the U.S.-China trade war, though losses were capped by Middle East tensions after last week's tanker attacks.
  • Gold prices rose on Tuesday, having eased in the two previous sessions, supported by expectations of dovish statements from the U.S. Federal Reserve, which begins its two-day monetary policy meeting later in the day.

Global Markets at one Glance

Markets at 5.00pm In INR % Change
USD/INR 69.70 -0.22
EUR/USD 1.1191 78.03 -0.49
GBP/USD 1.25187 87.23 -0.39
USD/JPY 108.275 0.64 0.03
SEK/INR 9.5050 7.3340 -0.0361
DKK/INR 6.210 11.2250 0.49
AUD/USD 1.4609 47.71 -0.33
DXY 97.16 0.11
Index Today % Change
NIFTY 11691 0.17
SENSEX 39046 0.15
NIKKEI 21124 0.03
HANG SENG 27238 0.38
SHANGHAI 2881 -0.99
CAC# 5378 0.21
FTSE # 7416 0.80
DAX # 12092 -0.03
Commodities Today % Change
GOLD # 1352 0.70
SILVER# 14.91 0.60
BRENT # 60.69 -0.41
NYMEX # 52.05 -0.23
Today Today
OPEN 69.8300
HIGH 69.8650
LOW 69.6275
CLOSE 69.7000

Key Events of the Day

Date Time Currency Event Actual Forecast Previous
18/06/19 14.30 EUR German ZEW Economic Sentiment (Jun) -21.1 -5.7 -2.1
18/06/19 14.30 EUR CPI (YoY) (May) 1.2% 1.2% 1.7%

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