Rupee Remains Higher on Sino-U.S. Trade Optimism

Rupee Remains Higher on Sino-U.S. Trade Optimism

31 Dec 2018 02:01 PM

Financial Market Overview

31st December, 2018

Noon update

Indian Rupee:-

  • The Indian rupee remained higher against the dollar in afternoon trade on easing trade tensions between the U.S. and China. However, greenback demand capped further gains.
  • The rupee changed hands at 69.79 to a dollar, against 69.94 at the previous close. The currency opened at 69.80 and extended gains to 69.75 against the dollar, its highest since Dec. 21, before briefly turning lower to 69.9350 amid greenback demand from state-run and foreign banks.

 Indian Equities:-

  • Indian shares gained on Monday tracking peers as investors took heart from signs of easing tensions of trade disputes between the United States and China.
  • The broader NSE index was up 0.07% at 10,867.85 while the benchmark BSE index was 0.01% higher at 36,081.08.

 Global Markets:-

  • Asian markets finished mixed as of the most recent closing prices. The Hang Seng gained 1.34% and the Shanghai Composite rose 0.44%. The Nikkei 225 lost 0.31%.
  • European markets are mixed today. The FTSE 100 lost 0.07%, the CAC 40 was up 0.48% while IBEX35 gained 0.34%.
  • The dollar index was trading little changed after ending 0.1% lower in the previous session. The index has remained under pressure last week amid a partial U.S. shutdown and expectations that the Federal Reserve will pause its rate tightening cycle. Investors will focus on the U.S. non-farm payrolls data for December that is due later this week.
  • The benchmark Brent crude oil contract was last trading 2.39% higher at $54.48 per barrel, as hints of progress on the potential China-U.S. trade deal bolstered risk sentiment that has been battered by concerns over weak global economic outlook.
  • The offshore yuan was trading steady at 6.88 against the greenback, after data earlier today showed manufacturing activity in China contracted for the first time in two years.





Date : 31-Dec-2018

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