Indian Rupee stays lower due to weakness in Chinese Yuan

Indian Rupee stays lower due to weakness in Chinese Yuan

30 Jul 2018   2:22 PM
 
Myforexeye Research Report

Financial Market Overview

30th July, 2018

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • The Indian rupee remained lower against the dollar in the afternoon trade, tracking continuous weakness in the Chinese yuan amid caution ahead of monetary policy decisions of RBI and the U.S. Federal Reserve.
  • The rupee was last seen at 68.70 to a dollar, against 68.65 at previous close. It opened at 68.70 and has remained in a 68.67-68.79 band so far. Most Asian currencies traded lower, led by losses in the yuan.

Indian Equities:-

  • Indian shares climbed to a record in opening trade on Monday before losing steam as investors turned their focus to a central bank policy meeting later this week.
  • The broader NSE index was up 0.15 percent at 11295.80, while the benchmark BSE index trading at 0.24 percent at 37424.85.

Global Markets:-

  • Asian markets finished lower as of the most recent closing prices. The Hong Kong Hang Seng ended lower by 0.38% followed by the Shanghai Composite at 0.12% .
  • European markets are trading lower today. The France's CAC 40 is trading lower by 0.40% followed by the London's FTSE100 at 0.29%  and the Germany's DAX at 0.23% .
  • The onshore Chinese yuan, which marked a seven-week losing run, fell to 6.8389 against the dollar so far today, marking a fresh over-one-year intraday low amid persistent trade tensions between the U.S. and China. It was last trading at 6.8250.
  • The dollar index, measured against a basket of currencies, was last trading little changed after declining by almost 0.1% on Jul. 27, even as the U.S. economy grew at an annualized pace of 4.1% in the second quarter, which was the fastest since 2014. The U.S. treasury yields also ended at 2.9620% on Friday.

 


Source : Myforexeye Research

Date : Jul-2018

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