Offers & Promotions Download Brochure Get a Call Back Download App
Contact us

India Rupee Snaps 2-Month Gain On Oil Rally, Dollar Strength

30 April 2019 / Evening Brief

Indian Rupee

  • The rupee settled at 69.56 against 69.87 at the previous close. The local unit moved in 69.5350 -69.89 per dollar band intra-day.
  • The Indian rupee posted its first monthly decline in three months against the dollar, as the greenback strengthened amid strong U.S. data, while rally in crude oil prices raised fear of outflows from local assets. Oil price rally proved to be negative for local assets and the lager impact was on the bond market that witnessed outflows that weighed on the local currency, while strong dollar index further added to the pressure. Inflows into local shares were buoyed amid bets of likely second term for the current government.

Global Currency

  • The dollar was mixed after early trading in Europe on Tuesday as the first shots in a barrage of economic data failed to trigger any dramatic moves in major currencies. These uncertainties make us strongly believe that the Chinese government will continue its fiscal stimulus to support industrial sectors through infrastructure stimulus, and will provide enough credits to smaller private firms.
  • The euro extended gains to top $1.12 on Tuesday after first quarter growth numbers for the euro zone were stronger than expectations, dispersing some of the negativity surrounding the outlook for the single currency. Euro zone economic growth was stronger than expected in the first quarter.

Global Markets

  • Gold prices edged up on Tuesday as disappointing Chinese factory activity data brought back concerns about the health of the global economy, denting risk appetite. Spot gold XAU= rose 0.4 percent to $1,285 per ounce.
  • Oil prices rose 1 percent on Tuesday after Saudi Arabia said a deal between producers to withhold output could be extended beyond June to cover all of 2019.

Global Markets at one Glance

Markets at 5.00pm In INR % Change
USD/INR 69.57 69.57 -0.32
EUR/USD 1.12156 78.03 -0.09
GBP/USD 1.30073 90.43 0.19
USD/JPY 111.244 0.63 -0.01
SEK/INR 9.4839 7.3356 -0.0042
DKK/INR 6.198 11.2250 0.49
AUD/USD 1.4172 49.08 -0.27
DXY 97.564 -0.3
Index Today % Change
NIFTY 11748.15 -0.06
SENSEX 39031.55 -0.09
NIKKEI 22258.73 -0.22
HANG SENG 29699.11 -0.65
SHANGHAI 3078.3389 0.52
CAC# 5568.27 -0.23
FTSE # 7264.61 0.0042
DAX # 12331.75 0.03
Commodities Today % Change
GOLD # 1285.8398 0.49
SILVER# 14.925 0.55
BRENT # 73.04 1.39
NYMEX # 64.43 1.46
Today Today
OPEN 69.8300
HIGH 69.8900
LOW 69.5750
CLOSE 69.5600

Key Events of the Day

Date Time Currency Event Actual Forecast Previous
30-04-2019 13.25 EUR German Unemployment Change (Apr) -12K -6K -7K

Share this post?