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The Indian rupee little changed at 71.25 pair now at 71.15 against
71.25 previous close.
Pair to tip in 71.00‐71.40 range today.
The Indian rupee rose against the dollar in early trade as crude oil
Indian Rupee prices came off recent highs, aiding concerns of wider trade deficit
gap at home. Some softness in crude prices is aiding the rupee.
However, we believe the dollar‐rupee pair will remain on bids as
importers will step up dollar purchases amid broad strength in the
dollar and unfavourable risk sentiments. Markets will closely track
outcome from ongoing trade talks between the U.S. and China.
The dollar held gains against its peers early on Friday, bolstered by a
rise in U.S. yields, while the Aussie clawed back some of its recent
plunge on upbeat central bank comments and easing concerns about
China's ban on Australian coal imports. The rise by the greenback,
Global Currency however, had been limited after Thursday's soft U.S. economic data,
including an unexpected fall in core capital goods orders and weak
existing home sales, which affirmed expectations that the Federal
Reserve will hold interest rates steady.
Sterling has swung wildly between a low of $1.2895 and a high of
$1.3109 this week as British Prime Minister Theresa May tries to
persuade European Commission chief Jean‐Claude Juncker to modify
her withdrawal deal and then get the tweaked agreement through
parliament.
Oil prices fell on Friday after the United States reported its crude
output hit a record 12 million barrels per day (bpd), undermining
efforts by Middle East‐dominated producer club OPEC to withhold
supply and tighten global markets.
Global Markets Gold inched up on Friday as optimism over U.S.‐China trade talks
pressured the dollar, but signs the U.S. Federal Reserve could raise
interest rates again this year kept prices below 10‐month highs hit.
Global Markets at one Glance
Index
Markets Today In INR % Change Today % Change
USD/INR 71.17 71.18 0.03 NIFTY 10787.25 ‐0.02
EUR/USD 1.13338 80.66 0 SENSEX 35891.54 ‐0.02
GBP/USD 1.30278 92.70 ‐0.04
BANK NIFTY 26951.4 ‐0.37
USD/JPY 110.794 0.64 ‐0.08
SGX NIFTY 9347.5 0.33
SEK/INR 9.3711 7.5946 0.0025
DKK/INR 6.3530 11.2025 0.0325 NIKKEI 21464.23 0.15
Key Events of the Day
71.3
71.25
71.2
71.1725
71.15
71.1
71.05
71
70.95
70.9
08:35 10:35 12:35 14:35 16:35 10:35 12:35 14:35 16:35 10:35
February 20 2019 February 21 2019
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