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USD/INR opens up on firm dlr, higher crude oil prices

27 June 2019 / Morning Brief

Indian Rupee

  • The Indian rupee little changed at 69.26 pair now at 69.23 against 69.15 previous close.
  • Pair to tip in 69.10-69.40 range today.
  • Dollar/rupee opened higher Thursday tracking a firm dollar buoyed by hopes of progress in US-China trade talk in the G20 meet due this weekend and less aggressive rate cut hopes by the Federal Reserve while higher crude oil prices further supported the gain in spot pair. Oil is trading at nearly a month's high and dollar also turned slightly firm. The dollar turned firm against major counterparts supported by hopes of Sino-US trade talk progress though investors still remain cautious ahead of a meeting between leaders of the two powers the US and China in Japan in the weekend.

Global Currency

  • The dollar hovered near a one-week high against the yen on Thursday, propped up by hopes of Sino-U.S. trade talk progress though investors were nonetheless cautious ahead of a meeting between leaders of the two powers in Japan in days ahead.
  • U.S. President Donald Trump and Chinese President Xi Jinping are due to meet at the June 28-29 G20 summit in Osaka. Investors are focusing on whether the two leaders can pave the way to resolve a trade dispute between the world's two biggest economies. potential implications of the Trump-Xi meeting for U.S. monetary policy are huge.

Global Markets

  • Oil fell on Thursday, erasing some of the previous session's strong gains, as traders await the G20 summit in Japan and a meeting of OPEC and other oil producers to decide on an extension of output cuts.
  • Gold traded steady on Thursday after the previous session's sharp fall, as investors looked forward to trade talks between Washington and Beijing later this week in Japan.

Global Markets at one Glance

Markets Today In INR % Change
USD/INR 69.292 69.305 0.15
EUR/USD 1.1355 78.70 -0.02
GBP/USD 1.26798 87.86 0.08
USD/JPY 108.097 0.64 -0.18
SEK/INR 9.2672 7.4771 0.0032
DKK/INR 6.1854 11.2025 0.0325
AUD/USD 1.4298 48.46 0.08
1M 2.43763 -0.41543  
3M 2.52450 -0.35929  
6M 2.55088 -0.31129  
1Y 2.63925 -0.22029  
Index Today % Change
NIFTY 11863.05 0.12
SENSEX 39684.77 0.23
BANK NIFTY 31185.55 0.31
SGX NIFTY 11883.04 0.12
NIKKEI 21294.65 0.99
HANG SENG 28559 1.20
SHANGHAI 3002.72 0.89
ASX200 6647 0.10
DOW JONES 26608.05 0.35
S&P500 # 2923 0.42
NASDAQ # 7658.50 0.54
Key Events of the Day
Date Time Currency Event Forecast Previous
27-Jun-2019 18.00 USD GDP (QoQ) (Q1) 3.1% 3.1%
27-Jun-2019 19.30 USD Pending Home Sales (MoM) (May) 1.1% -1.5%

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