Indian Rupee Higher As Dollar Index Retreated

Indian Rupee Higher As Dollar Index Retreated

08 Aug 2018 10:19 AM
Myforexeye Research Report

Financial Market Overview

08th August, 2018

Morning Update:-                                                                             



  • The Indian rupee is opened slightly higher against the U.S. currency after the dollar index retreated from more-than-one-month highs.The rupee is opened at 68.6675 versus the dollar compared with its previous close of 68.68.
  • We expect the pair to trade in the range between 68.50-68.75 today.

Indian Equities:-

  • Equity benchmarks have start the day on a positive note, with the Nifty trading around 11,400, while Sensex up by 20 points. 
  • The Sensex is up 17.44 points at 37,683.24, and the Nifty up 7.20 points at 11,396.70. About 614 shares have advanced, 323 shares declined, and 60 shares are unchanged. 
  • All sectoral indices are trading in the green, with maximum gain seen in metal names. Infra, energy and PSU bank space is also trading higher. 

Global Markets:-

  • Asian markets are higher today as Japanese and Hong Kong shares show gains. The Nikkei 225 is up 0.39% while the Hang Seng is up 0.27%.The Shanghai composite trading little lower at -0.32%.The Australian's ASX200 is positive by 0.32%.
  • European markets closed higher yesterday with shares in France leading the region. The CAC 40 is up 0.81% while London's FTSE 100 is up 0.71% and Germany's DAX is up 0.40%.
  • The S&P 500 closed nearer to a record high on Tuesday, lifted by Amazon, Alphabet and Microsoft, and by a strong second-quarter earnings season that fueled optimism about the strength in the U.S. economy.
  • The Dow Jones Industrial Average rose 126.73 points, or 0.5 percent, to 25,628.91, the S&P 500 gained 8.05 points, or 0.28 percent, to 2,858.45 and the Nasdaq Composite added 23.99 points, or 0.31 percent, to 7,883.66.
  • The dollar index edged lower in Wednesday trading to add to its losses from the previous session, while the yuan strengthened to 6.82 against the dollar, despite the U.S. Trade Representative's office saying that it will begin imposing 25% tariffs on $16 billion of Chinese imports from Aug. 23.
  • The number of people recruited for permanent jobs in Britain grew at its slowest pace in nine months in July, reflecting record low unemployment and a shortage of migrant workers from the European Union, Britain's unemployment rate has tumbled to its lowest level since 1975 at 4.2 percent and many employers have reported a shortage of EU migrants available for work since the Brexit vote in June 2016.
  • U.S. job openings hover at record highs.The job openings rate was unchanged at 4.3 percent in June. There were an additional 20,000 jobs in the education sector, but vacancies declined by 84,000 jobs in the transportation.




Date : Aug-2018