USD/INR opens down on selling ahead of quarterly ending

The Indian rupee little changed at 69.01 pair now at 68.95 against 69.06 previous close.
Pair to tip in 68.90-69.25 range today.
Dollar/rupee opened lower Friday on selling by banks across segments on quarter end-related positioning and inflows to stocks in the market. All banks are selling ahead of quarter end. Some stocks like Airtel are also getting inflows. The dollar index, which tracks the movement of the greenback against a basket of six major currencies. Investors will be keenly eying the crucial meeting between US President Donald Trump and Chinese President Xi Jinping on Saturday amid the trade and tariff war going on between the two major economies.

The dollar trod water early on Friday as investors awaited a crucial meeting between the leaders of the United States and China at a Group of 20 summit over the weekend for any signs of progress to end their heated trade war.
Market moves show there is less concern about the U.S.-China meeting, but the results of the meeting have to match these expectations for the dollar and risk assets to go higher. The United States and China have already imposed tariffs of up to 25% on hundreds of billions of dollars of each other's goods in a dispute about China's trade practices that has lasted nearly a year.

Oil prices eased on Friday in a cautious market, as traders eyed a scheduled meeting between U.S. President Donald Trump and Chinese President Xi Jinping at the G20 summit and next week's OPEC meeting.
Gold prices rose on Friday, heading for a sixth weekly gain in a row, as investors await a meeting between U.S. President Donald Trump and Chinese President Xi Jinping this weekend for any developments on trade.

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