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USD/INR opens up as investors truned risk aversion on Trump impeachment fear

25 September 2019 / Morning Brief

Indian Rupee

  • The Indian rupee little changed at 71.07 pair now at 71.09 against 71.0050 previous close.
  • Pair to tip in 70.90-71.25 range today.
  • Dollar/rupee opened up Wednesday as risk sentiments drooped on report of initiation of impeachment inquiry over US President Donald Trump. Trump comment that he would not accept a "bad deal" in trade negotiations with China, to impacted investors risk appetite. US Speaker Nancy Pelosi announced a formal impeachment inquiry of Trump following reports.

Global Currency

  • The dollar steadied in Asian trade on Wednesday but remained on the defensive after the launch of a formal impeachment inquiry against President Donald Trump, while the political uncertainty added to worries about economies strained by the Sino-U.S. trade row. The dollar was also undermined by data showing U.S. consumer confidence fell by the most in nine months in September, far more than expected.
  • Elsewhere, the British pound found some support after the UK Supreme Court ruled that Prime Minister Boris Johnson's decision to suspend parliament for five weeks was unlawful in a further blow to his ambition to pull Britain out of European Union next month with or without a deal. market players saw no signs of a sustainable rebound as the events further deepened the uncertainty investors now attach to the currency.

Global Markets

  • Oil prices fell for a 2nd day on Wednesday on worries about falling fuel demand after U.S. President Trump comments doused optimism over China-U.S. trade talks.
  • Gold prices were trading steady on Wednesday, a touch below a nearly three-week high hit in the previous session, as global equities dipped after U.S. lawmakers launched a formal impeachment inquiry into President Donald Trump.

Global Markets at one Glance

Markets Today In INR % Change
USD/INR 71.07 71.08 0.16
EUR/USD 1.09979 78.16 -0.05
GBP/USD 1.24635 88.58 -0.03
USD/JPY 107.362 0.66 -0.11
SEK/INR 9.6885 7.3355 -0.003
DKK/INR 6.3441 11.2025 0.0325
AUD/USD 1.4743 48.20 -0.03
1M 2.02475 -0.48971  
3M 2.11513 -0.45114  
6M 2.07025 -0.39729  
1Y 2.04913 -0.32014  
Index Today % Change
NIFTY 11513.10 -0.65
SENSEX 38823.60 -0.70
BANK NIFTY 30180.15 -1.26
SGX NIFTY 11523.00 -0.94
NIKKEI 22011.50 -0.40
HANG SENG 26044.00 -0.90
SHANGHAI 2968.25 -0.57
ASX200 6755.20 0.08
DOW JONES 26807.80 -0.53
S&P500 # 2966.61 -0.84
NASDAQ # 7993.63 -1.46
Key Events of the Day
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