Rupee Ends Higher With Improving Risk Appetite

Rupee Ends Higher With Improving Risk Appetite

22 Feb 2019 06:06 PM
 

Financial Market Overview

22nd February, 2019

Evening coffee 

Indian Rupee:-

  • The Indian rupee ended higher against the dollar, as optimism over trade talks between the U.S. and China lifted investors’ appetite for risk assets and weighed on greenback demand. However, elevated crude oil prices at over $67 per barrel capped further gains in the local unit.
  • The rupee settled higher at 71.14 to a dollar, against 71.25 at previous close. The currency traded in a narrow 15-paisa band today.

Indian Equities:-

  • Benchmark indices ended flat on Friday after trading in narrow range throughout the day triggered by a worsening global growth outlook.
  • The broader NSE index closed flat at 10,791.65, while the benchmark BSE index ended 0.07% lower at 35,871.48.

Global Markets:-

  • European markets were trading higher. The DAX gained 0.55%, London's FTSE 100 was up 0.46% and France's CAC 40 was 0.27% higher.
  • The benchmark Brent crude oil contract rose for a second week, touching its highest in three months as supply was seen tightening. It was last trading at $67.58 per barrel.
  • The dollar index was heading for its first weekly decline in three weeks, amid optimism over U.S.-China trade deal and caution earlier this week before release of the Fed’s minutes of January meeting, where had left key interest rates unchanged.
  • Chinese officials are meeting U.S. trade officials in Washington this week, following a round of negotiations in Beijing. Investors are watching for signs that the two nations may be nearing a resolution to their differences ahead of a Mar. 1 deadline.
  • S. President Donald Trump, who has expressed his willingness to extend the deadline, is expected to meet Chinese Vice Premier Liu He today at the White House.

 

 

 

 


Date : 22-Feb-2019

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