Rupee little changed before Fed outcome

Rupee little changed before Fed outcome

21 Mar 2018 10:16 AM
Myforexeye Research Report

Financial Market Overview

21st March, 2018

Morning Coffee:-                                                                                  



  • Rupee almost flat as traders await Fed’s assessment on likely path of interest rates. Pair USDINR now at 65.21 against 65.19 previous close.
  • Pair to tip in range between 65.10-65.32.

Indian Equities:-

  • Benchmark indices opened sharply higher on short covering and following the positive lead from global markets.
  • The 30-share BSE Sensex was up 194.69 points at 33,191.45 and the 50-share NSE Nifty gained 57.50 points at 10,181.90.

Global Markets:-

  • Asian markets are higher today. The Hong Kong's Hang Seng is up 1.21%, Shanghai composite gains 0.48% and the Australian ASX20 is trading higher by 0.28%.
  • European markets finished higher on Tuesday with shares in Germany leading the region. The DAX is up 0.74% while France's CAC 40 is up 0.57% and London's FTSE 100 is up 0.26%.
  • U.S. stocks advanced modestly on Tuesday as higher oil prices lifted the energy sector, but another slump in Facebook Inc shares curbed gains. Based on the latest available data, the Dow Jones Industrial Average rose 116.36 points, or 0.47 percent, to 24,727.27, the S&P 500 gained 4.02 points, or 0.15 percent, to 2,716.94, and the Nasdaq Composite  added 20.06 points, or 0.27 percent, to 7,364.30.
  • Dollar index hovering near three-week highs and US 10-year yield at highest in over a week before near certain 25 basis point Fed interest rate increase. Focus on Fed’s economic assessment and whether it raises its projections for future rate increases. Most analysts expect hawkish bias, but do not see Fed raising its earlier forecast of three rate hikes in 2018.

Date : Mar-2018