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USD/INR opens down on weak dlr, likely FII inflows into local stocks

26 March 2019 / Morning Brief

Indian Rupee

  • The Indian rupee little changed at 68.8875 pair now at 68.83 against 68.92 previous close.
  • Pair to tip in 68.65-69.00 range today.
  • Dollar/rupee opened lower Tuesday tracking a weak greenback on improving risk-sentiments amid likely overseas fund inflows into local stocks. Local stocks opened higher Tuesday as overseas investors continue to buy local stocks and as higher crude oil prices helped boost appetite for risky assets. Weak dollar and FII inflows into local equities is weighing on spot pair. the greenback weakened against it major pairs after US 10-year Treasury yields edged higher as fear of a recession hitting the US economy receded.

Global Currency

  • The dollar rebounded modestly against the yen on Tuesday as Treasury yields pulled back from 15-month lows as investors reassessed the risks of a sharper downturn in the global economy. The dollar edged up 0.1 percent to 110.065 yen JPY= and put some distance from a six-week low of 109.70 plumbed the previous day. Sterling was effectively flat at $1.3197
  • GBP=D3 after spending the previous day confined to a narrow range when British MPs wrested control of the parliamentary agenda from the government for a day in a highly unusual bid to find a way through the Brexit impasse

Global Markets

  • Oil prices edged up on Tuesday, lifted by supply cuts led by producer club OPEC and U.S. sanctions against Iran and Venezuela, but signs of a sharp economic slowdown and potentially even a recession kept markets from rising further.
  • Gold prices were steady on Tuesday and hovered near one-month high hit in the previous session, as demand for safe-haven assets improved after treasury yields and equities fell on possible U.S. recession and global growth concerns.

Global Markets at one Glance

Markets Today In INR % Change
USD/INR 68.836 68.84 -0.12
EUR/USD 1.13133 77.87 -0.16
GBP/USD 1.31864 90.77 -0.12
USD/JPY 110.076 0.63 -0.21
SEK/INR 9.2345 7.4542 -0.0048
DKK/INR 6.1447 11.2025 0.0325
AUD/USD 1.4035 0.04
1M 2.49888 -0.41586  
3M 2.60988 -0.33571  
6M 2.676 -0.29714  
1Y 2.787 -0.18143  
Index Today % Change
NIFTY 11385.05 0.27
SENSEX 37909.65 0.27
BANK NIFTY 29427.2 0.5
SGX NIFTY 9347.5 0.33
NIKKEI 20977.11 -3.01
HANG SENG 28564.3 0.14
SHANGHAI 3012.9034 -0.99
ASX200 6135.2 0.15
DOW JONES 25516.83 0.06
S&P500 # 2798.36 -0.08
NASDAQ # 7316.958 0
Key Events of the Day
Date Time Currency Event Forecast Previous
26-03-2019 18.00 USD Building Permits (Feb) 1.320M 1.317M
26-03-2019 19.30 USD CB Consumer Confidence (Mar) 132.0 131.4

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