USD/INR ends up on likely FPI outflows from local debt

The rupee settled at 69.04 against 68.9750 at the previous close. The local unit moved in 68.92-69.0650 per dollar band intra-day.
USD/INR ends up on strong dlr, likely FPI outflows from local debt. PSBs bought most likely for oil importers. Dollar/rupee ended at Rs 69.04/$1 Thrusday compared to previous close of Rs 68.94/$1. Crude oil prices continued easing after US government data showed large builds in refined product stockpiles. The greenback weakened against its major counterparts weighed down by lower US yields.

The euro sank to a new two-month low against the dollar on Thursday as investors waited for the European Central Bank to signal another round of monetary easing, including a possible rate cut and the resumption of bond purchases. The slide was exacerbated by a bigger-than-expected fall in the German Ifo index of current business conditions to 99.4 in July from 100.8 in June. A Reuters poll of economists had expected a decline to 100.4. doubt that anything the ECB does or says provides much comfort" for the beleaguered euro
The pound remained below $1.25 and not far from the 27-month low it reached last week, last trading flat at $1.2475 and at 89.26 pence against the euro

Oil prices rose 1% on Thursday amid Middle East tensions and a big fall in U.S. crude stocks, but gains were capped as weak manufacturing data in Western nations indicated slowing economic growth that could reduce fuel demand.
Gold held steady on Thursday in cautious trading before a European Central Bank meeting where the bank is expected to provide clarity on its stance on monetary policy easing amid tepid economic data from the region.

Date	Time	Currency	Event	Actual	Forecast	Previous
25/07/2019	13.30	EUR	German Ifo Business Climate Index (Jul)	95.7	97.1	97.5

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