Feb 05 2018

Rupee off lows as exporters Dollar sales offset losses

Financial Market Overview

05th February, 2018

Noon Update:-                                                                                  



  • Indian rupee was little changed in afternoon session, as exporters’ dollar sales offset losses triggered by upbeat U.S. nonfarm payrolls data on Friday that boosted greenback demand and buoyed treasury yields.
  • The rupee was last seen at 64.07 to a dollar, versus 64.06 at close on Feb. 2. The rupee hit an intraday low of 64.23 to a dollar, lowest since Dec. 28, before rising to day’s high of 64.01. Other Asian currencies were trading flat to lower.

Indian Equities:-

  • Benchmark indices continue to trade lower amid volatility in late trade.
  • The Sensex falling 382.38 points or 1.09 percent at 34,684.37 and the Nifty declining 112.45 points or 1.05 percent at 10,648.15.

Global Markets:-

  • European markets are lower today with shares in London off the most. The FTSE100 is down 0.85% while France’s CAC 40 is off 0.81% and Germany’s DAX is trading lower by 0.45%.
  • Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.73%, while the Nikkei 225 led the Hang Seng lower. They fell 2.55% and 1.09% respectively.
  • Britain’s economy slowed sharply in January, according to a survey which cast doubt on growing expectations among investors that the Bank of England might be gearing up to raise interest rates again in the coming months. The IHS Markit/CIPS Purchasing Managers’ Index (PMI) for the country’s dominant services sector slowed to a 16-month low of 53.0 from 54.2 in December.
  • The dollar index, which measures the greenback against a basket of six major rivals, ended over half a percent higher on Friday, in reaction to the Labor Department’s data showing nonfarm payrolls rose by 200,000 jobs last month, beating expectations.
  • A survey of economists had estimated payrolls would grow by 180,000 jobs. The poll had also forecasted unemployment rate to come in unchanged at 17-year low of 4.1%, which came true.