Rupee Stays Higher On Oil Slip, Likely US-China Talks

Rupee Stays Higher On Oil Slip, Likely US-China Talks

13 Nov 2018 02:08 PM
Myforexeye Research Report

Financial Market Overview

13th November, 2018

Noon update

Indian Rupee:-

  • The Indian rupee stayed higher against the dollar in afternoon trade as crude oil prices remained lower, while reports of U.S.- China trade negotiations aided fragile risk sentiments.
  • The rupee changed hands at 72.62 to a dollar, against 72.89 at close yesterday. The currency opened at 72.79 per dollar. It then fell to an intraday low of 72.8050 before rising to the day’s high of 72.52.

Indian Equities:-

  • Indian shares edged higher as gains in oil marketers and an upbeat sentiment over a strong set of inflation data helped cap losses in financials and healthcare stocks.
  • The broader NSE index was up 0.32% at 10,516.15, while the benchmark BSE index was 0.28% higher at 34,910.00.

Global Markets:-

  • Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.93% and the Hang Seng rose 0.46%. The Nikkei 225 lost 2.06%.
  • European shares are trading higher today. The FTSE 100 gained 0.17%, CAC gained 0.37% and the DAX was 0.50% up.
  • Brent crude oil price fell to a seven-month low of $68.87 per barrel yesterday, coming off its high of $71.88, after U.S. President Donald Trump’s comments that Saudi Arabia and the OPEC will hopefully not be cutting production prompted a pullback. The Middle East nation’s pledge to cut supply next month had pushed prices higher above $71. It was last trading down 0.83% at $69.54.
  • The dollar index traded steady at 97.56 after rising to a 16-month high overnight, on risk-off bets and drop in euro and sterling on fears of a no-deal Brexit. The single currency traded 0.2% higher, recovering from over 1% fall in an overnight trade and pound sterling rose 0.1% after dropping nearly 1%.
  • The Chinese yuan was heading for its first session of gains in four days and was last trading 0.1% higher.





Date : 13-Nov-2018