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USD/INR opens down on lower crude oil prices, weak dlr

3 June 2019 / Morning Brief

Indian Rupee

  • The Indian rupee little changed at 69.50 pair now at 69.47 against 69.6750 previous close.
  • Pair to tip in 69.30-69.60 range today.
  • Dollar/rupee opened at a one-week low on Monday tracking a sharp fall crude oil prices amid a weakness in the dollar. Brent oil prices fell near $60 a barrel due to fears of global recession affecting demand. The dollar is weak tracking falling US Treasury yields. Dollar/rupee opened at Rs 69.50/$1 Monday compared to previous close of Rs 69.67/$1. Crude oil prices plunged when crude markets racked up their biggest monthly losses in six months amid stalling demand as trade wars stoked fears of a slowdown in the global economy.

Global Currency

  • The dollar dipped after benchmark 10-year U.S. Treasury yields hit as low as 2.121% on Monday, their lowest since September 2017. They're seriously starting to react to prolonged trade tensions in a risk-off way.
  • The yen brushed a more than four-month high against the dollar on Monday as U.S. President Donald Trump's hard stance on trade broadened to countries beyond China, forcing investors to safe-haven assets, including government bonds. With trade issues remaining front-and-center, investor risk appetite has been weighed by fears of a global growth slowdown that has helped stoke government debt demand and triggered an equity selloff.

Global Markets

  • Oil prices fell more than 1% on Monday, extending losses of over 3% from Friday, when crude markets racked up their biggest monthly losses in six months amid stalling demand and as trade wars fanned fears of a global economic slowdown.
  • Gold prices rose on Monday to their highest in more than two months, with investors seeking refuge in safe-haven assets as heightened Sino-U.S. trade tensions and Washington's threat of tariffs on Mexico stoked worries of a global recession.

Global Markets at one Glance

Markets Today In INR % Change
USD/INR 69.44 69.4525 -0.19
EUR/USD 1.11825 77.65 -0.1
GBP/USD 1.26458 87.83 -0.03
USD/JPY 108.121 0.64 -0.08
SEK/INR 9.4814 7.3238 -0.0014
DKK/INR 6.1986 11.2025 0.0325
AUD/USD 1.438 48.27 -0.13
1M 2.43763 -0.41543  
3M 2.52450 -0.35929  
6M 2.55088 -0.31129  
1Y 2.63925 -0.22029  
Index Today % Change
NIFTY 11964.60 0.35
SENSEX 39879.87 0.42
BANK NIFTY 331408.10 0.11
SGX NIFTY 11970 0.38
NIKKEI 20330.28 -1.32
HANG SENG 26773 -0.29
SHANGHAI 2884.54 -0.49
ASX200 6341.20 -0.86
DOW JONES 24658.15 -0.55
S&P500 # 2736.40 -0.55
NASDAQ # 7074.40 -0.76
Key Events of the Day
Date Time Currency Event Forecast Previous
03-Jun-2019 13.25 EUR German Manufacturing PMI (May) 44.3 44.3
03-Jun-2019 14.00 GBP Manufacturing PMI (May) 52.0 53.1
03-Jun-2019 19.30 USD ISM Manufacturing PMI (May) 53.0 52.8

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