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USD/INR opens higher tracking a strong dlr

26 July 2019 / Morning Brief

Indian Rupee

  • The Indian rupee little changed at 69.12 pair now at 68.06 against 69.04 previous close.
  • Pair to tip in 69.00-69.20 range today.
  • Dollar/rupee opened higher Friday tracking a strong dollar following strong US economic data and a dovish European Central Bank (ECB) policy. Dollar has strengthened after some strong US data and ECB policy. Few foreign banks are on the buy-side. The greenback gained against major counterparts after a slew of strong economic data from the US and a dovish European Central Bank Policy, which kept its rates unchanged while keeping its door open for further easing as the growth outlook detoriated.

Global Currency

  • The dollar traded near a two-week high versus the yen as investors pared expectations for aggressive Federal Reserve interest rate cuts ahead of key U.S. economic data due later in the day. The euro held gains after ECB kept policy unchanged, disappointing some market participants who had bet on a possible easing. ECB President Mario Draghi also sounded more upbeat on the euro-zone economy than some investors expected curbing speculation the bank was about to enter a prolonged easing cycle.
  • GBP=D3 changed hands at $1.2455, on course for a 0.5% weekly loss. Cable has stabilised since Boris Johnson became Britain's new prime minister, but there is still uncertainty about Britain's negotiations to leave the European Union.

Global Markets

  • Oil prices fell on Friday after a Reuters poll showed global economic growth is likely to slow further amid the U.S.-China trade war, although losses were limited by tensions in the Middle East.
  • Gold prices rebounded on Friday from a sharp decline in the previous session, while investors awaited U.S. economic growth data due later in the day that could provide clues about the Federal Reserve's monetary policy meeting.

Global Markets at one Glance

Markets Today In INR % Change
USD/INR 69.0725 69.0825 0.06
EUR/USD 1.11483 77.00 0.06
GBP/USD 1.24464 85.97 0.05
USD/JPY 108.623 0.64 0.15
SEK/INR 9.4519 7.3078 0.0054
DKK/INR 6.1658 11.2025 0.0325
AUD/USD 1.4396 47.96 0.05
1M 2.34763 -0.41543  
3M 2.50450 -0.35929  
6M 2.52088 -0.31129  
1Y 2.60925 -0.22029  
Index Today % Change
NIFTY 11245.50 -0.06
SENSEX 37808.50 -0.06
BANK NIFTY 29001.50 -0.13
SGX NIFTY 11278.50 -0.20
NIKKEI 21647 -0.50
HANG SENG 28446 -0.52
SHANGHAI 2932.60 -0.16
ASX200 6802.70 -0.22
DOW JONES 27141 -0.47
S&P500 # 3003.67 -0.53
NASDAQ # 8238.54 -1.00
Key Events of the Day
Date Time Currency Event Forecast Previous
26-Jul-2019 18.00 USD GDP (QoQ) (Q2) 1.8% 3.1%

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