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USD/INR opens flat as strong dlr offsets higher Asian currencies

19 August 2019 / Morning Brief

Indian Rupee

  • The Indian rupee little changed at 71.17 pair now at 71.07 against 71.15 previous close.
  • Pair to tip in 71.00-71.25 range today.
  • Dollar opened flat Monday as strong dollar offsets higher Asian currencies as hopes of stimulus program from central banks around the world soothed risk sentiments. Asian currencies are strong while dollar is strong tracking higher US Treasury yields. The People's Bank of China said on Saturday it will improve the mechanism used to establish the loan prime rate from this month, allowing it to use market-based reform methods to help lower real lending rates.

Global Currency

  • The dollar ended roughly flat on Friday, retracing the morning's move higher, after worries tied to trade tensions and a Federal Reserve rate cut weighed on consumer sentiment and a report that Germany may run a deficit to boost growth lifted the euro. markets started Friday in a better mood with sentiment boosted by expectations for the European Central Bank to err on the side of bold stimulus as soon as central bankers' coming meeting on Sept. 12.
  • The euro fell to a two-week low of $1.1067 EUR= , shy of the two-year low of $1.1025 it reached on Aug. 1. Friday morning's fall was caused by growing expectations of an interest rate cut by the European Central Bank after Governing Council member Olli Rehn suggested on Thursday the central bank could restart its quantitativ.

Global Markets

  • Gold prices dipped on Monday on a stronger U.S. dollar and a recovery in equities markets, as hopes of stimulus from major central banks eased fears of a steep global economic downturn.
  • Crude oil prices rose on Monday following a weekend attack on a Saudi oil facility by Yemeni separatists and as traders looked for any signs that Sino-U.S. trade tensions could ease. But price gains were capped by an unusually downbeat OPEC report that stoked concerns about growth in oil demand.

Global Markets at one Glance

Markets Today In INR % Change
USD/INR 71.168 71.1775 0.03
EUR/USD 1.10915 78.93 0
GBP/USD 1.21549 86.49 0.08
USD/JPY 106.318 0.67 0.02
SEK/INR 9.6669 7.3620 0.0035
DKK/INR 6.3529 11.2025 0.0325
AUD/USD 1.4734 48.29 -0.04
1M 2.34763 -0.41543  
3M 2.50450 -0.35929  
6M 2.52088 -0.31129  
1Y 2.60925 -0.22029  
Index Today % Change
NIFTY 11113.30 +0.59
SENSEX 37600.00 +0.67
BANK NIFTY 28403.60 +0.65
SGX NIFTY 11102.00 +0.43
NIKKEI 20539.50 +0.84
HANG SENG 26172.00 +1.70
SHANGHAI 2865.32 +1.47
ASX200 6454.67 +0.77
DOW JONES 25886.00 +1.20
S&P500 # 2888.68 +1.44
NASDAQ # 7895.68 +1.67
Key Events of the Day
Date Time Currency Event Forecast Previous
19-Aug-2019 14.30 EUR CPI (YoY) (Jul) 1.1% 1.1%

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