Rupee Falls As Oil Rises, Dollar Gains On Brexit Worries

Rupee Falls As Oil Rises, Dollar Gains On Brexit Worries

15 Oct 2018 02:02 PM
Myforexeye Research Report

Financial Market Overview

15th October, 2018

Noon update

Indian Rupee:-

  • The Indian rupee fell against dollar dragged by rising global crude oil prices amid a broad strength in the greenback as talks between Britain and the European Union paused without any conclusion.
  • The rupee changed hands at 73.99 to a dollar, against 73.56 at the close in the previous session. The currency opened lower at 73.80 per dollar, extending losses to 74.01.

Indian Equities:-

  • Sensex and Nifty turn positive amid strong midcap trends. Among sectors, IT and pharmaceuticals are holding the fort for the market, while there is weakness in automobiles, banks, and the metals space.
  • The broader NSE index was up 0.05% at 10,477.30 and the benchmark BSE index was 0.13% higher at 34,777.56.

Global Markets:-

  • Asian markets are lower today. The Hang Seng falls 1.51% and Shanghai Composite is down 1.49%.
  • European markets are mixed today. The FTSE 100 is down 8.31% while the CAC 40 looses 0.24%. The DAX is even.
  • The Brent crude climbed 0.39% and the U.S. benchmark oil rose 0.8% today after Saudi Arabia reportedly threatened to retaliate to any action taken against it in relation to the disappearance of a journalist. U.S. President Donald Trump over the weekend said there would be consequences for Riyadh if its officials were involved in the disappearance of journalist Jamal Khashoggi. The journalist, who is a U.S. resident and is a known critic of the Middle East nation’s crown prince, disappeared in a Saudi consulate in Turkey.
  • The dollar index was trading 0.1% higher as investors await a European Union summit in Brussels due later this week as negotiations between the European Union and Britain failed to close a Brexit deal ahead of the meet. However, gains in the dollar were limited after U.S. Treasury Secretary Steven Mnuchin said over the weekend that Washington wants to include a provision to deter currency manipulation in future trade deals, including with Japan.



Date : 15-Oct-2018

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