Rupee opens marginally lower ahead of President Trump and European commission chief meet

Rupee opens marginally lower ahead of President Trump and European commission chief meet

25 Jul 2018 11:18 AM
Myforexeye Research Report

Financial Market Overview

25th July, 2018

Morning Coffee:-                                                                                  



  • Indian rupee opened little lower against the U.S. currency at 68.96 as the market participants are cautious ahead of meeting between President Donald Trump and European Commission chief Jean-Claude Junker. Pair USDINR now at 68.93 against its previous close of 68.94 on Tuesday.
  • We expect the pair to tip in range between 68.80-69.00 today.

Indian Equities:-

  • Wednesday morning Indian Equity markets continued to remain in its bullish momentum, a deviation from the pre-opening rate trends where the larger index hit a fresh record high. Meanwhile, the Sensex has hit a fresh record high as well. Sensex opening at a record high, while the Nifty has opened above 11,100. 
  • The Sensex is up 62.41 points or 0.17% at 36887.51, while the Nifty is up 7.20 points or 0.06% at 11141.50. The market breadth is positive as 389 shares advanced, against a decline of 106 shares.

Global Markets:-

  • Asian markets are mixed today. The Hong Kong's Hang Seng gains 0.75% The Shanghai Composite is  up 0.09%,  and the Australian's ASX200 is trading little lower by -0.02%.
  • European markets finished broadly higher today with shares in Germany leading the region. The DAX is up 1.12% while France's CAC 40 is up 1.04% and London's FTSE 100 is up 0.70%.
  • The S&P 500 on Tuesday closed at its highest level since Feb. 1 as Alphabet's blowout results bolstered expectations of a robust earnings season.
  • The Dow Jones Industrial Average rose 196.57 points, or 0.78 percent, to 25,240.86, the S&P 500 gained 13.34 points, or 0.48 percent, to 2,820.32 and the Nasdaq Composite dropped 1.11 points, or 0.01 percent, to 7,840.77.
  • The dollar was mostly weaker against major currencies ahead of a meeting between Trump and Juncker later today amid an expanding U.S. protectionist agenda.
  • US. overall private sector activity slowed in July, according to survey data released on Tuesday. The preliminary reading of the Markit services purchasing managers’ index came in at 56.2 this month, down from 56.5 in June. The manufacturing PMI unexpectedly rose to 55.5 in July, compared to 55.4 a month earlier.
  • Asian currencies on Wednesday, the South Korean won, Malaysian ringgit and the Thai baht rose against the dollar, while the Chinese yuan continued to fall.

Date : Jul-2018