Morning Brief  Daily Forex Research Report as on 08‐Mar‐2019 

 
   The  Indian  rupee  little  changed  at  70.17  pair  now  at  70.17  against 
 
 
69.9950 previous close. 
 Pair to tip in 70.00‐70.30 range today. 
 
 USD/INR  opens  higher  after  ECB  downgrades  growth  outlook  for 
Indian Rupee  current  year,  souring  demand  for  risk  assets  and  Asian  currencies. 
ECB cuts growth forecast for current year to 1.1%, down from 1.7% 
previously,  extends  rate  hike  outlook  and  announces  new  round  of 
long‐term  loans  for  bank.  ECB  now  expects  rates  to  remain  at 
current levels “through the end of 2019” compared to “through the 
summer  of  2019”  previously.  Rupee  is  currently  being  driven  more 
by flows than by global fundamentals. 
   The dollar index against a basket of six major currencies .DXY was a
 
 
shade lower at 97.548. The index soared 0.75 percent on Thursday to
  brush a near three-month peak of 97.71 and was headed for a weekly
  gain of 1.2 percent.
Global Currency   The euro wallowed close to a 21-month low against the dollar on
Friday, hurt by a series of dovish signals from the European Central
Bank, and the currency market braced for further volatility ahead of
U.S. jobs data later in the day. The euro's big hit on Thursday came as
the ECB pushed back the timing of its first post-crisis interest rate
hike to 2020, cut its economic forecasts and launched a new round of
cheap bank loans. 

   Oil  prices  fell  on  Friday  after  the  European  Central  Bank  (ECB) 
warned  economic  weakness  would  continue  and  as  U.S.  crude 
 
output  and  exports  chase  new  records,  undermining  efforts  by 
  producer club OPEC to tighten global markets. 
Global Markets    Gold held steady on Friday as risk appetite faded after the European 
Central  Bank  cut  its  growth  forecasts  and  launched  an  emergency 
round of policy stimulus. 
 Global Market at one Glance  
 
Index
Markets Today  In INR  % Change  Today  % Change 
USD/INR  70.185  70.195  0.13  NIFTY 11029.55  ‐0.26 
EUR/USD  1.11978  78.60  0.23  SENSEX 36676.7  ‐0.13 
GBP/USD  1.3095  91.90  0.29 
BANK NIFTY 27724.55  ‐0.14 
USD/JPY  111.231  0.63  0.38 
SGX NIFTY 9347.5  0.33 
SEK/INR  9.4618  7.4177  0.0139 
DKK/INR  6.2651  11.2025  0.0325  NIKKEI 21456.01  ‐0.65 

AUD/USD  1.4264  49.19  0.1  HANG SENG 28347.24  ‐1.5 

  SHANGHAI 3016.2211  ‐2.9 
TIME  USD LIBOR  EURO LIBOR  ASX200 6206.2  ‐0.92 
1M  2.49175  ‐0.41386 
DOW JONES  25473.23  ‐0.78 
3M  2.5945  ‐0.332 
6M  2.68813  ‐0.29929  S&P500 # 2748.93  ‐0.81 

1Y  2.88638  ‐0.16514   

NASDAQ # 7026.883  ‐1.2 
 

      Key Events of the Day     

Date  Time  Currency  Event Forecast Previous

08/03/2019  19.00  USD  Building Permits (Jan)  1.289M  1.326M 
08/03/2019  19.00  USD  Nonfarm Payrolls (Feb)  181K 304K
08/03/2019  19.00  USD  Unemployment Rate (Feb)  3.9%  4.0% 
           
           
 
5 Minutes INR=IN 8:55 AM 03/06/2019 - 11:00 AM 03/08/2019 (DEL)
Cndl, INR=IN, 10:50 AM 03/08/2019, 70.1800, 70.1850, 70.1700, 70.1700, +0.1750, (+0.25%) Price
INR
70.65
70.6
70.55
70.5
70.45
70.4
70.35
70.3
70.25
70.2
70.1700
70.15
70.1
70.05
70
69.95
10:35 12:35 14:35 16:35 10:35 12:35 14:35 16:35 10:35
March 06 2019 March 07 2019 Mar 08 19
 

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