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USD/INR open flat as easing crude oil prices offset strong dlr

26 September 2019 / Morning Brief

Indian Rupee

  • The Indian rupee little changed at 71.02 pair now at 70.92 against 71.03 previous close.
  • Pair to tip in 70.80-71.10 range today.
  • Dollar/rupee open flat Thursday as easing crude oil prices offset impact of strong dollar. The dollar gained against major peers as investors cheered US President Trump's hints of progress toward a trade deal with China. President Trump also stoked hopes for a trade deal by telling reporters in NY that the US-China were having good conversations and that an agreement could happen sooner.

Global Currency

  • The dollar found broad support on Thursday as investors welcomed U.S. President Donald Trump's hints of progress toward a trade deal with China and discounted the prospect of an impeachment probe making much headway in the short term. The corporate tax reduction announced on Friday has spurred $374 million of inflows into Indian stocks in three days, and supported the rupee. That’s adding to the attractiveness of the currency for carry-trade strategies, according to UBS Group AG and Kotak Securities Ltd.
  • Sterling GBP nursed losses at $1.2359, after dropping more than 1% overnight as investors priced in many more months of Brexit and election risk. greenback had been sold when U.S. House of Representatives Speaker Nancy Pelosi said the Democratic-led chamber was launching an impeachment inquiry over Trump's handling of a call to Ukranian President Volodymyr Zelenskiy.

Global Markets

  • Oil prices held nearly flat on Thursday after U.S. President Donald Trump said a resolution to the China-U.S. trade rift would come sooner than expected, helping to stave off pressure from rising oil supplies and worries about global growth.
  • Gold prices inched higher on Thursday as investors resorted to bargain hunting after a sharp drop in the previous session, although a firm dollar limited the gains.

Global Markets at one Glance

Markets Today In INR % Change
USD/INR 70.93 70.945 -0.06
EUR/USD 1.0962 77.76 0.08
GBP/USD 1.23735 87.77 0.11
USD/JPY 107.65 0.66 0.07
SEK/INR 9.7386 7.2834 0.0081
DKK/INR 6.3316 11.2025 0.0325
AUD/USD 1.4794 47.91 0.04
1M 2.02475 -0.48971  
3M 2.11513 -0.45114  
6M 2.07025 -0.39729  
1Y 2.04913 -0.32014  
Index Today % Change
NIFTY 11488.30 0.42
SENSEX 38730.60 0.36
BANK NIFTY 30180.15 -1.26
SGX NIFTY 11496.50 0.19
NIKKEI 22075.50 0.25
HANG SENG 25982.00 0.14
SHANGHAI 2933.97 -0.73
ASX200 6683.30 -0.40
DOW JONES 26970.70 0.61
S&P500 # 2984.87 0.62
NASDAQ # 8077.38 1.05
Key Events of the Day
Date Time Currency Event Forecast Previous
26-Sep-2019 18.00 USD GDP (QoQ) (Q2) 2.0% 2.0%

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