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USD/INR open down on selling ahead of quaterly ending

28 June 2019 / Evening Brief

Indian Rupee

  • The rupee settled at 69.0150 against 69.06 at the previous close. The local unit moved in 68.88-69.1150 per dollar band intra-day.
  • USD/INR ends at 2-mo low on likely FPI inflows into local debt. Investors remain hopeful that there may be some positive news on the US-China trade front from the G20 meet. With the G-20 summit starting today in Osaka, Japan, world leaders come together to discuss major issues affecting global economy. Tensions over Iran and the long-running trade war between China and the US loom large over this meeting.

Global Currency

  • The dollar was quiet in a narrow range against most currencies in early trading in Europe Friday as markets await the outcome of the G20 meeting in Osaka, looking for signs of rapprochement between the U.S. and China. The key event will be a bilateral meeting between Saturday morning in Japan between the U.S. and Chinese presidents Donald Trump and Xi Jinping, which will give a degree of clarity over whether the trade dispute between the two will be ratcheted up or down over the rest of the year.
  • The yen was flat at 107.66 to the dollar, having lost over 4% since late April as the U.S.-China trade dispute has heated up. European Central Bank President Mario Draghi has said that further stimulus will be needed if the data fail to improve.

Global Markets

  • U.S. crude prices were little changed in early morning trade Friday as markets prepared to wrap up a solid month of gains ahead of key meetings that will likely determine the fate of the current rally in crude.
  • Gold prices rose on Friday in Asia prior to the highly anticipated trade talks between the U.S. and China on Saturday, with an outcome unpredictable to many.

Global Markets at one Glance

Markets at 5.00pm In INR % Change
USD/INR 69.025 69.025 -0.09
EUR/USD 1.13725 78.53 -0.03
GBP/USD 1.26952 87.59 0.11
USD/JPY 107.737 0.64 -0.03
SEK/INR 9.2852 7.4339 -0.0117
DKK/INR 6.149 11.2250 0.49
AUD/USD 1.4273 48.35 -0.12
DXY 96.10 -0.09
Index Today % Change
NIFTY 11841 -0.05
SENSEX 39586 -5.67
NIKKEI 11338 1.19
HANG SENG 28603 1.38
SHANGHAI 2996 0.69
CAC# 5482 -0.33
FTSE # 7411 0.09
DAX # 12245 0.00
Commodities Today % Change
GOLD # 1405 -0.38
SILVER# 15.22 -0.44
BRENT # 65.75 -1.11
NYMEX # 58.78 -1.01
Today Today
OPEN 69.0100
HIGH 69.1150
LOW 68.8800
CLOSE 69.0150

Key Events of the Day

Date Time Currency Event Actual Forecast Previous

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