Rupee Stays Lower On Sino-U.S. Trade War Fears

Rupee Stays Lower On Sino-U.S. Trade War Fears

30 Oct 2018 02:03 PM
Myforexeye Research Report

Financial Market Overview

30th October, 2018

Noon update

Indian Rupee:-

  • The Indian rupee remained lower against the dollar in the afternoon trade, tracking losses in most Asian currencies amid renewed concerns over trade feud between the U.S. and China. However, greenback sales by private banks, likely for dollar inflows into local debt markets, limited further losses.
  • The rupee changed hands at 73.55 to a dollar, against 73.44 at yesterday’s close. It opened at 73.55 and extended losses to 73.6275 per dollar.

Indian Equities:-

  • Indian shares gave up early gains to trade slightly lower on Tuesday, with falls in energy stocks outweighing gains in the IT sector and an extended rally in public sector banks driven by corporate earnings optimism.
  • The broader NSE index was down 0.6% at 10,245.20, and the benchmark BSE index was 0.6% lower at 34,046.76.

Global Markets:-

  • Asian markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 1.45% and the Shanghai Composite rose 1.02%. The Hang Seng lost 0.92%.
  • The London's FTSE 100 is up by 0.27%, France's CAC is 0.13% higher and Spain's IBEX35 is up by 0.28%.
  • The benchmark Brent crude oil prices was last trading off 0.48% at $76.97 per barrel, heading for second straight session of losses on fragile risk sentiment. However, further losses were capped as investors awaited U.S. sanctions on Iran that will come into effect from next month.
  • U.S. President Donald Trump was reported as saying a ‘great deal’ is needed with China, helping trim early losses in yuan and Asian shares.The onshore yuan was last trading at 6.9634 after falling as much as to 6.9711 against dollar and inching closer to dropping to the crucial-7 mark.
  • The dollar index advanced 0.2% after closing higher yesterday on increasing safe-haven bets.




Date : 30-Oct-2018