Rupee opens marginally lower amid historic US-North Korea meeting

Rupee opens marginally lower amid historic US-North Korea meeting

12 Jun 2018 09:58 AM
Myforexeye Research Report

Financial Market Overview

12th June, 2018

Morning Coffee:-                                                                                  



  • Indian rupee open marginally lower against the dollar at 67.45, tracking the weakness in other regional currencies, as a historic summit between the U.S. and North Korea began today. Pair USDINR now at 67.44 against 67.4175 previous close.
  • We expect the pair to tip in range between 67.28-67.60 today.

Indian Equities:-

  • Benchmark indices began trading on a mildly higher note, with the Nifty holding 10,800-mark in the opening tick.
  • The Sensex is up 43.18 points or 0.12% at 35526.65, while the Nifty is up 14.50 points or 0.13% at 10801.50. The market breadth is positive as 481 shares advanced, against a decline of 334 shares, while 68 shares were unchanged.

Global Markets:-

  • Asian markets are higher today. The Shanghai Composite is up 0.41%, the Hong Kong Hang Seng gains 0.33% and the Australian's ASX200 is trading higher by 0.24%.
  • European markets finished higher yesterday with shares in London leading the region. The FTSE 100 is up 0.73% while Germany's DAX is up 0.60% and France's CAC 40 is up 0.43%.
  • The S&P 500 eked out a gain on Monday as investors eyed the looming United States-North Korea summit in Singapore while shrugging off the weekend's fractious meeting of the Group of Seven nations. The Dow Jones Industrial Average rose 5.78 points, or 0.02 percent, to 25,322.31; the S&P 500 gained 2.97 points, or 0.11 percent, to 2,782; and the Nasdaq Composite added 14.41 points, or 0.19 percent, to 7,659.93.
  • US. President Donald Trump and North Korean leader Kim Jong-un earlier today ended a 41-minute one-on-one meeting and entered wider talks attended by their top leaders in Singapore. The early headlines coming were mostly positive. Trump said that “working together, we will get it taken care of”, while Kim remarked that he will be working along with the U.S. president. Trump is hoping to achieve a breakthrough to end a nuclear standoff in the Korean peninsula that could change the security landscape in Asia. In the hours before the summit began, Trump expressed optimism over the prospects for the first-ever meeting between the leaders of the two nations.
  • The South Korean won was little changed against the dollar, and the country’s benchmark equity index was down 0.1%. It was a quiet beginning to trade for regional indexes and currencies on Tuesday, both posting moderate losses.
  • The Fed’s two-day meeting will begin later today, at the conclusion of which the U.S. central bank will almost certainly increase rates by a quarter percentage points.

Date : Jun-2018