Indian Rupee Opens unchanged ahead of MPC Decision

Indian Rupee Opens unchanged ahead of MPC Decision

01 Aug 2018 10:02 AM
Myforexeye Research Report

Financial Market Overview

01st August, 2018

Morning Update:-                                                                                  



  • The Indian rupee opened flat at 68.55 per dollar on Wednesday versus 68.54 ahead of The Monetary Policy . The MPC decision Committee will likely raise rates by a quarter percentage points later today to keep a lid on inflation expectations.
  • We expect the pair to trade in the range between 68.45- 68.75 today.

Indian Equities:-

  • Equity benchmarks have started the month on a flat note, but the Nifty has hit another record high of 11,371 in the opening minutes. Investors could be watchful of the outcome of RBI MPC’s meeting outcome later in the day
  • The Sensex is currently higher by 24.41 points or 0.06% at 37630.99, while the Nifty is up 12.40 points or 0.11% at 11368.90. The market breadth is positive as 372 shares advanced, against a decline of 117 shares, while 57 shares are unchanged.

Global Markets:-

  • Asian markets are mixed today. The Australian's ASX200 gain.0.40% while the Shanghai composite is trading little negative 0.09% and Hong Kong's Hang Seng is trading up by 0.17%.
  • European markets finished higher today with shares in London leading the region. The FTSE 100 is up 0.62% while France's CAC 40 is up 0.37% and Germany's DAX is up 0.06%.
  • S. stocks closed with some bullishness on Tuesday, gains in industrial shares following reports of renewed trade negotiations between the United States and China.
  • The Dow and S&P 500 posted their biggest monthly percentage gains since January. The Dow Jones Industrial Average rose 108.36 points, or 0.43 percent, to 25,415.19, the S&P 500 gained 13.67 points, or 0.49 percent, to 2,816.27 and the Nasdaq Composite added 41.79 points, or 0.55 percent, to 7,671.79.
  • S. consumer spending increased solidly in June as households spent more at restaurants and on accommodation, building a strong base for the economy heading into the third quarter, while inflation rose moderately.
  • The dollar index edged higher in trading today before the Federal Reserve monetary policy review (Up by 0.1% at 94.58, adding to yesterday’s 0.2% rise.)




Date : Aug-2018