Rupee keeps gains on easing US-China trade war fears

Rupee keeps gains on easing US-China trade war fears

27 Mar 2018 03:17 PM
Myforexeye Research Report

Financial Market Overview

27th March, 2018

Noon Update:-                                                                                  



  • Indian rupee stayed at a one-month high against the dollar in afternoon trade, as reports of trade negotiations between the U.S. and China eased concerns of a trade war and revived demand for risk assets. However, dollar purchases by state-run banks, likely on behalf of oil importers, limited further gains in the local unit.
  • The Rupee was last seen at 64.83 to a dollar, against 64.87 at close in the previous session. The rupee hit an intraday high of 64.72, the highest since Feb. 26, before paring some gains and falling to an intraday low of 64.88 per dollar. Most Asian currencies also traded higher against the dollar.

Indian Equities:-

  • The market gained strength again in afternoon, tracking positive trend in European equities.
  • The Sensex is up more than 150 points and the Nifty is inching towards 10,200 levels. Midcap index outperformed frontliners, rising 1 percent as PSU banks, NBFCs and metals lead the charge. The 30-share BSE Sensex is up 184.63 points at 33,251.04 and the 50-share NSE Nifty gained 69 points at 10,199.65.

Global Markets:-

  • European markets are sharply higher today with shares in Germany leading the region. The DAX is up 1.60% while London's FTSE 100 is up 1.58% and France's CAC 40 is up 1.33%.
  • Asian markets finished broadly higher today with shares in Japan leading the region. The Nikkei 225 is up 2.65% while China's Shanghai Composite is up 1.05% and Hong Kong's Hang Seng is up 0.79%.
  • The dollar index, which measures the greenback against a basket of six major rivals, fell to as low as 88.98, lowest since Feb. 19, before closing down half a percent on Monday, amid easing concerns over trade wars.
  • The global risk-on eased demand for safe-haven assets, causing the Japanese yen to weaken by the most in a month against the dollar. The yen was last trading off 0.2% against the greenback. The dollar index was last trading down 0.05%.

Date : Mar-2018

Recommended for you...