Rupee Stays Higher On US-China Trade Talks

Rupee Stays Higher On US-China Trade Talks

15 Nov 2018 01:51 PM
Myforexeye Research Report

Financial Market Overview

15th November, 2018

Noon update

Indian Rupee:-

  • The Indian rupee remained higher against the dollar in afternoon trade, helped by improved risk appetite after China’s commerce ministry said high-level trade talks have resumed between Washington and Beijing. However, greenback purchases by oil and other importers limited further gains in the local unit.
  • The rupee changed hands at 72.09 to a dollar, against 72.3050 at close yesterday. It opened at 72.06 and then rose to 72.04, before making an intraday low of 72.18.

 Indian Equities:-

  • Indian shares edged higher in lacklustre trade as weak crude oil prices kept investor sentiment upbeat, cushioning the blow from Yes Bank Ltd's plunge after the private-sector lender's chairman stepped down.
  • The broader NSE index was up 0.31% at 10,609.50, while the benchmark BSE index was 0.37% higher at 35,273.52.

Global Markets:-

  • Most Asian shares also traded in green, as risk appetite turned in favour of emerging market assets, after the Chinese commerce ministry's spokesman Gao Feng said China and the U.S. have restarted high level talks on trade. The Hang Seng gained 1.64% and the Shanghai Composite was up 1.36%.
  • European shares are trading higher today. The London's FTSE 100 gained 0.39%, France's CAC gained 0.45% while Germany's DAX was 0.32% higher and Spain's IBEX35 was 0.33% higher.
  • The benchmark Brent crude oil contract, which rebounded nearly 1% in an overnight trade after falling 6.6% on Tuesday, fell as much as 0.5% earlier today on oversupply concerns. It was last trading 0.29% higher at $66.31 per barrel. The Brent prices have dropped over 25% from its multi-month high hit last month.
  • The dollar index suffered its biggest decline in two weeks yesterday and 10-year U.S. yield fell to 3.12%, extending decline to a third straight session. The index was last trading little changed.
  • China has sent a written response to demand from the U.S. on wide-ranging trade reforms, increasing hopes on negotiation to ease trade disputes between the two economies.
  • The single currency was last trading up 0.2% and the British unit was flat.




Date : 15-Nov-2018