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USD/INR ends down on FII inflows, lower Brent, weak dlr

3 June 2019 / Evening Brief

Indian Rupee

  • The rupee settled at 69.26 against 69.6750 at the previous close. The local unit moved in 69.18-69.50 per dollar band intra-day.
  • USD/INR ends down on likely FII inflows into the local debt, lower Brent, weak Dollar. , latest development on trade war front came with China accusing US of economic terrorism and also warned that it will stop the export of rare earth metals which are crucial for manufacturing sector. In the coming week, USDINR will be driven by RBI policy meeting and NFP data from US. Lingering tensions between the US and China added to the dollar's strength, following the latest comments from US President Trump.

Global Currency

  • The U.S. dollar was trading near one-week lows against a currency basket on Monday, with the yen and the Swiss franc, seen as safe havens in time of uncertainty, gaining ground as global trade tensions escalated. U.S. and Mexican officials are preparing for talks later in the day after U.S. President Donald Trump vowed to impose tariffs on all Mexican imports in an intensifying dispute over migration.
  • The euro was little changed at $1.1163 - its first gain in five sessions. German 10-year government bonds have fallen to -0.20%, their lowest ever, on fears that the ruling coalition may collapse after the resignation of Andrea Nahles, as head of the Social Democratic Party, the junior partner in the coalition.

Global Markets

  • Gold prices rose on Monday in Asia amid worries over Mexico and escalating trade tension between China and the U.S. Gold futures for June delivery, traded on the Comex division of the New York Mercantile Exchange, was up 0.4%.
  • Oil prices extended losses on Monday in Asia After a 3% slump last Friday amid tension between Mexico and the U.S. U.S. Crude Oil WTI Futures was down 1.1% to $52.91.

Global Markets at one Glance

Markets at 5.00pm In INR % Change
USD/INR 69.27 69.27 -0.44
EUR/USD 1.11833 77.52 -0.41
GBP/USD 1.26205 87.45 -0.40
USD/JPY 108.377 0.64 -0.5
SEK/INR 9.4842 7.3037 -0.0215
DKK/INR 6.171 11.2250 0.49
AUD/USD 1.4364 48.24 -0.28
DXY 97.65 -0.09
Index Today % Change
NIFTY 12088 1.39
SENSEX 40267 1.39
NIKKEI 20410 -0.92
HANG SENG 26827 -0.09
SHANGHAI 2909.91 0.61
CAC# 5199 -0.15
FTSE # 7150 -0.03
DAX # 11702 -0.20
Commodities Today % Change
GOLD # 1214 0.57
SILVER# 14.50 -0.21
BRENT # 65.03 1.54
NYMEX # 54.02 1.65
Today Today
OPEN 69.5000
HIGH 69.5000
LOW 69.1800
CLOSE 69.2600

Key Events of the Day

Date Time Currency Event Actual Forecast Previous
03/06/2019 13.25 INR German Manufacturing PMI (May) 44.3 44.3 44.3
03/06/2019 14.00 GBP Manufacturing PMI (May) 49.4 52.0 53.1

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