Apr 09 2018

Rupee opens higher as US jobs data came in lower than expected

Financial Market Overview

09th April, 2018

Morning Coffee:-                                                                                  

MARKETS AT OPEN:-

Rupee:-

  • The Indian rupee opens higher against the dollar at 64.85 after lower-than-expected U.S. job additions, and as persistent trade tensions between the U.S. and China hurt demand for the greenback. Pair USDINR now at 64.85, lowest since March 27, against 64.97 previous close.
  • Pair to tip in range between 64.80-65.00.

Indian Equities:-

  • Benchmark indices opened mildly higher on Monday, tracking positive lead from Asian stocks.
  • The 30-share BSE Sensex rose 23.46 points to 33,650.43 and the 50-share NSE Nifty gained 3.20 points at 10,334.80.

Global Markets:-

  • Asian markets are higher today. The Hong Kong’s Hnag Seng is up 1.91%  the Australian ASX200 gains 0.38% and the Shanghai Composite is trading higher by 0.37%.
  • European markets finished lower on Friday with shares in Germany leading the region. The DAX was down 0.52% while France’s CAC 40 was off 0.35% and London’s FTSE 100 was closed lower by 0.22%.
  • S. stocks dropped more than 2 percent on Friday, with the Dow falling more than 500 points, as U.S. President Donald Trump’s latest tariff threat on Chinese imports fueled increasing concern over a U.S. trade war with China. The Dow Jones Industrial Average fell 572.73 points, or 2.34 percent, to 23,932.49, the S&P 500 lost 58.4 points, or 2.19 percent, to 2,604.44 and the Nasdaq Composite dropped 161.44 points, or 2.28 percent, to 6,915.11.
  • The dollar index dropped 0.4% on Friday after U.S. employers added fewer-than-expected 103,000 jobs last month. The job numbers for February were revised higher, but January’s estimates were lowered. Average earnings were up 2.7% year-on-year and the unemployment rate stood at 4.1%.