Rupee Extends Losses As Upbeat U.S. Data Boosts Dollar

04 Feb 2019 01:52 PM

Financial Market Overview

4th February, 2019 Noon update Indian Rupee:-
  • The Indian rupee extended losses against the dollar in afternoon trade, as strong U.S. jobs and manufacturing data boosted demand for the greenback.
  • The rupee changed hands at 71.72 to a dollar, against 71.24 at previous close. The currency opened at 71.60, extending losses to 71.75, its lowest since Dec. 17.
 Indian Equities:-
  • Indian indices fell on Monday as investors booked profits after the government announced its final budget before general elections due by May, while sentiment remained tepid ahead of a central bank policy meet later in the week.
  • The broader NSE index was down 0.67% at 10,820.35, while the benchmark BSE index was 0.61% lower at 36,245.94.
 Global Markets:-
  • Asian shares were subdued following mixed performance on Wall Street and a weeklong holiday in China for the Chinese New Year. Markets in Hong Kong are also closed today. Japan's Nikkei 225 finished higher by 0.46%.
  • European markets are flat today. The CAC 40 is down 0.01%, London's FTSE 100 is up 0.09% and Germany's DAX is up 0.21% while Spain's IBEX35 is up 0.14%.
  • The benchmark Brent crude oil price was 0.94% higher at $63.34 per barrel, in choppy trade. It rose 1.8% last week amid expectations of supply cuts and optimism that tensions between U.S. and China could ease.
  • The dollar index was trading 0.2% higher at 95.72, tracking surge in U.S. yields after better than expected Non-farm payrolls data released on Friday. U.S. yields were further supported by the manufacturing data. The 10-year U.S. Treasury yields was last trading at 2.6966%, after rising six basis points in the previous session.
  • Prime Minister Theresa May’s office said that Britain’s Brexit minister Stephen Barclay will hold a meeting of a new working group of Conservative lawmakers on Monday seeking to find an alternative plan to avoid a post-Brexit border in Ireland.

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