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USD/INR opens down as dlr eases, crude oil prices retreat

18 June 2019 / Morning Brief

Indian Rupee

  • The Indian rupee little changed at 69.83 pair now at 69.8050 against 69.90 previous close.
  • Pair to tip in 69.65-69.95 range today.
  • Dollar/rupee traded lower Tuesday tracking a dip in the greenback ahead of the Federal Open market Committee two-day policy meet. Also, easing crude oil prices further weigh on the demand for dollar from oil importers. Crude oil prices cooled and dollar eased ahead of the Fed policy on hopes that Fed may hint to possible rate cuts for the coming months. The greenback traded lower against its major counterparts as the Federal Reserve starts its two-day monetary policy meet later today.

Global Currency

  • The British pound on Tuesday languished near this year's low on rising worries Boris Johnson, the front-runner to replace UK Prime Minister Theresa May, could put Britain on a path towards a dreaded no-deal Brexit. Worries about Brexit hit the British pound, which tumbled to a 5-1/2-month low of $1.2532 on Monday and last traded at $1.2539 GBP.
  • The dollar was slightly undermined by the New York Fed's business index showing a record fall this month to its weakest level in more than 2-1/2 years. Fed's two-day policy meeting starting later on Tuesday is the next major focus after markets have priced in more than two 25 basis-point rate cuts by year-end.

Global Markets

  • Oil prices were falling for a second day on Tuesday, after more signs that global economic growth is being hit by U.S.-China trade tensions, although losses were limited amid tensions in the Middle East after tanker attacks last week.
  • Gold held steady in early Asian trade on Tuesday as investors awaited the start of a two-day monetary policy meeting of the U.S. Federal Reserve for clues on interest rates.

Global Markets at one Glance

Markets Today In INR % Change
USD/INR 69.815 69.825 -0.06
EUR/USD 1.12297 78.40 -0.02
GBP/USD 1.25206 87.41 -0.18
USD/JPY 108.324 0.64 0.14
SEK/INR 9.4788 7.3654 -0.0047
DKK/INR 6.2321 11.2025 0.0325
AUD/USD 1.4628 47.72 -0.04
1M 2.43763 -0.41543  
3M 2.52450 -0.35929  
6M 2.55088 -0.31129  
1Y 2.63925 -0.22029  
Index Today % Change
NIFTY 11672.15 -0.18
SENSEX 39077.28 0.30
BANK NIFTY 30351.50 0.26
SGX NIFTY 11713 0.13
NIKKEI 21015.90 -0.51
HANG SENG 27423 0.68
SHANGHAI 2889.98 0.08
ASX200 6557.10 0.40
DOW JONES 26115.20 -0.07
S&P500 # 2892.20 -0.08
NASDAQ # 7538.55 0.02
Key Events of the Day
Date Time Currency Event Forecast Previous
18-Jun-2019 14.30 EUR German ZEW Economic Sentiment (Jun) -5.7 -2.1
18-Jun-2019 14.30 EUR CPI (YoY) (May) 1.2% 1.2%
18-Jun-2019 18.00 USD Building Permits (May) 1.296M 1.290M

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