Nov 06 2017

Rupee opens lower as upbeat US economic data lifts Dollar

Financial Market Overview

06th November, 2017

Morning Coffee:-                                                                                  



  • Indian rupee opens lower at 64.65 against the dollar, tracking Asian peers, as better-than-expected U.S. factory orders and services sector data boosted the greenback, outweighing the impact of tepid jobs report.; pair USDINR now at 64.68 against 64.5450 previous close.
  • Pair to tip in range between today 64.60-64.80.

Indian Equities:-

  • Equity benchmarks opened the week mildly lower on Monday, tracking weakness in Asian peers. The broader markets outperformed benchmarks, with Midcap and Smallcap rising 0.2 percent each on positive breadth.
  • The 30-share BSE Sensex was down 39.69 points at 33,645.87 and the 50-share NSE Nifty fell 17.50 points to 10,435.

Global Markets:-

  • Asian markets are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 0.01% while the Hang Seng is down 0.93%. The Shanghai Composite is down 0.13% and Australian ASX200 is trading down 0.16%.
  • S. stocks were higher at the close on Friday, as gains in the Healthcare, Technology and Consumer Services sectors led shares higher. At the close in NYSE, the Dow Jones Industrial Average gained 0.10% to hit a new all time high, while the S&P 500 index gained 0.31%, and the NASDAQ Composite index gained 0.74%.
  • European markets finished higher on Friday with shares in Germany leading the region. The DAX is up 0.28% while France’s CAC 40 is up 0.14% and London’s FTSE 100 is up 0.07%.
  • The dollar index, which measures the greenback against a basket of six major rivals, ended 0.27% higher on Nov. 3, as strong U.S. services and factory data helped the greenback reverse initial losses. The greenback had declined as much as 0.3% earlier on Friday, after lower-than-expected U.S. monthly jobs report.
  • Data released by the commerce department on Friday showed, factory goods orders increased 1.4% from 1.2% in August, beating economists’ forecast of a 1.3% rise in poll. The Institute for Supply Management’s non-manufacturing purchasing managers’ index rose to its highest level since 2005 to 60.1 last month from 59.8 in September. It also beat poll of 58.5.
  • Data released by the labour department showed, nonfarm payrolls rose by 261,000 in October, but missed analyst forecast of 310,000 jobs growth in poll. The wage growth also grew at its slowest annual pace in over 1-1/2 years.