Rupee Steady Ahead of Fed Meet

Rupee Steady Ahead of Fed Meet

12 Jun 2018 03:33 PM
Myforexeye Research Report

Financial Market Overview

12th June, 2018

Noon Update:-



  • Indian rupee was little changed against the dollar in thin afternoon trade, as investors stayed on sidelines ahead of the Federal Reserve’s two-day policy meet that starts today, offsetting gains from improved risk appetite after the U.S.-North Korea summit ended on a positive note.
  • The rupee was last seen at 67.39 to a dollar, against 67.4175 at previous close. The currency opened at 67.52 and has traded in a 15.50-paise band till now.
  • India’s May retail inflation and April industrial production data are also due after market hours today. A poll of economists expect India’s retail inflation to jump to 4.83% in May against 4.58% in previous month, amid higher crude oil prices.

Indian Equities:-

  • Benchmark indices have maintained their strong momentum, with the Sensex soaring almost 200 points, while the Nifty is hovering around 10,840.
  • The Sensex is up 191.80 points at 35,675.27, and the Nifty gains by  52.85 points at 10839.80.

Global Markets:-

  • Asian markets finished higher today with shares in China leading the region. The Shanghai Composite is up 0.89% while Japan's Nikkei 225 is up 0.33% and Hong Kong's Hang Seng is up 0.19%.
  • European markets are mixed. The DAX is higher by 0.19%, while the FTSE 100 is leading the CAC 40 lower. They are down 0.18% and 0.01% respectively.
  • U.S. President Donald Trump and North Korean leader Kim Jong Un signed a comprehensive document following a historic summit aimed at the denuclearisation of the Korean peninsula. However, the details of the documents were not available. Trump said he expected the denuclearization process to begin “very, very quickly”. The summit held in Singapore today was first ever face-to-face meeting between the leaders of two nuclear-power nations.
  • The dollar index, measured against basket of six major currencies, was last trading up 0.2%. The Japanese yen hovered at a three-week low against the dollar and was last trading down 0.3%. At the Fed’s two-day meeting that will begin later today, the U.S. central bank is almost certain to increase rates by a quarter percentage points.

Date : Jun-2018