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USD/INR opens down as US-China trade tensions ease

7 May 2019 / Morning Brief

Indian Rupee

  • The Indian rupee little changed at 69.37 pair now at 69.37 against 69.40 previous close.
  • Pair to tip in 69.20-69.50 range today.
  • Dollar/rupee opened down on Tuesday on improved risk appetite of investors after US-China trade tensions eased. Rupee opened higher on the improved risk appetite on US-China trade tension eased in turn weakening the dollar. However investors are waiting for the further updates on the US-China trade negotiations which will keep the dollar supportive. Dollar/rupee opened at Rs 69.37/$1 Tuesday compared to previous close of Rs 69.40/$1

Global Currency

  • The U.S. dollar was flat against its rivals Monday after pairing losses against the yen, as analysts downplayed the prospect that President Donald Trump will follow through with his threat of raising tariffs on China. Trump warned that tariffs on $200 billion worth of Chinese goods could more than double to 25% from 10%, stoking demand.
  • A decline in the pound also supported the greenback, after U.K. Labour Party lawmakers poured cold water on the likelihood for a compromise deal with Prime Minister Theresa May. GBP/USD fell 0.52% to $1.3103, and EUR/USD rose 0.05% to $1.1206, with the latter supported by better than expected eurozone services.

Global Markets

  • Oil prices were under pressure on Tuesday from concerns the escalating Sino-U.S. trade dispute could slow the global economy, while U.S. sanctions on crude exporters Iran and Venezuela helped keep the market on edge.
  • Gold prices rose on Tuesday as U.S. PM Donald Trump's threat to hike tariffs on Chinese imports re-kindled trade tensions between the two countries and pushed investors to seek insurance.

Global Markets at one Glance

Markets Today In INR % Change
USD/INR 69.375 69.38 0.01
EUR/USD 1.12119 77.77 0.11
GBP/USD 1.3123 91.04 0.24
USD/JPY 110.637 0.63 0.01
SEK/INR 9.5532 7.2620 0.0181
DKK/INR 6.1928 11.2025 0.0325
AUD/USD 1.4204 48.83 0.25
1M 2.48338 -0.41129  
3M 2.58638 -0.34757  
6M 2.61975 -0.30729  
1Y 2.72513 -0.20214  
Index Today % Change
NIFTY 11681 -0.69
SENSEX 38687 -0.71
BANK NIFTY 29730 -0.75
SGX NIFTY 11666 -0.80
NIKKEI 22007 -2.11
HANG SENG 29097 -3.27
SHANGHAI 2918 -5.19
ASX200 6286 -0.78
DOW JONES 26032 -1.76
S&P500 # 2945 0.96
NASDAQ # 7713 -1.92
Key Events of the Day
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