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India Rupee Steady As Lower Oil Prices Offset Weak Risk Appetite

29 January 2019 / Morning Brief

Indian Rupee

  • The Indian rupee little changed at 71.14 pair now at 71.13 against 71.10 previous close.
  • Pair to tip in 70.90-71.40 range today.
  • The Indian rupee was little changed against the dollar in early trade, as an overnight decline in crude oil prices offset impact from subdued risk appetite and importers’ dollar demand. Foreign banks’ dollar sales and fall in crude oil prices helped offset month-end dollar demand from importers and tepid risk sentiments. Participants are also balancing their positions ahead of currency futures expiry later today. Participants will keep their positions light ahead of the outcome of the Federal Reserve meeting due tomorrow.

Global Currency

  • The dollar was little changed against a basket of currencies on Monday as traders were cautious about staking new positions ahead of the Federal Reserve's two-day policy meeting and trade talks between China and the United States. Safe-haven demand for the dollar dried up as the U.S. government started to reopen after a record-long shutdown, and investors were bracing for a slew of economic figures that had been postponed.
  • Sterling declined following its biggest weekly rise in more than 15 months. With the United Kingdom set to leave the European Union on March 29, lawmakers have set votes in parliament on Tuesday over terms for Brexit. The pound was down 0.29 percent at $1.3159, while the euro was up 0.44 percent at 86.85 pence.

Global Markets

  • Oil prices crept up on Tuesday after Washington imposed sanctions on Venezuelan state-owned oil firm PDVSA in a step set to severely curb the OPEC member's crude exports to the United States.
  • Gold was little changed on Monday, hovering near the $1,300 mark as investors awaited further developments on the U.S.-China trade dispute and the Federal Reserve's interest rate trajectory. The metal broke above the key $1,300 psychological level in the last session.

Global Markets at one Glance

Markets Today In INR % Change
USD/INR 71.1225 71.135 0.07
EUR/USD 1.14327 81.31 0.05
GBP/USD 1.31524 93.54 0.11
USD/JPY 109.316 0.65 0.08
SEK/INR 9.0527 7.8565 0.0039
DKK/INR 6.3488 11.2025 0.0325
AUD/USD 1.3957 50.96 0.15
TIME USD LIBOR EURO LIBOR  
1M 2.5 -0.42014  
3M 2.75163 -0.33357  
6M 2.83225 -0.29129  
1Y 3.0315 -0.17443  
Index Today % Change
NIFTY 10642.45 -0.18
SENSEX 35583.88 -0.2
BANK NIFTY 26654.1 0
SGX NIFTY 9347.5 0.33
NIKKEI 20649 -0.60
HANG SENG 27505.55 -0.26
SHANGHAI 2598.0898 0.04
ASX200 5874.2 -0.53
DOW JONES 24528.22 -0.84
S&P500 # 2643.85 -0.78
NASDAQ # 6697.087 0
Key Events of the Day
Date Time Currency Event Forecast Previous

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