Rupee steady ahead of the G-20 summit

Rupee steady ahead of the G-20 summit

30 Nov 2018 02:15 PM
Myforexeye Research Report

Financial Market Overview

30th November, 2018

Noon update

Indian Rupee:-

  • The Indian rupee was steady as caution ahead of the crucial G-20 summit offset early gains stemming from minutes of the Federal Reserve’s latest meeting that reiterated expectations of slower pace of rate hikes in the U.S. next year.
  • Rupee changed hands at 69.80 to a dollar. It rose to 69.5950 earlier today, the highest level in over three months.

Indian Equities:-

  • Indian shares inched up on Friday ahead of key economic growth data later in the day. Shares of Indian non-banking financial companies gained after the central bank relaxed rules to sell or securitize their loan books, in a bid to ease persistent stress in the sector.
  • The broader NSE index was up 0.03% at 10,862.50, and the benchmark BSE index also rose 0.03% to 36,180.29.

Global Markets:-

  • Asian markets are higher with shares in China leading the region. The Shanghai Composite is up 0.81% while Hong Kong's Hang Seng is up 0.21%.
  • European markets are lower today. The DAX was down 0.33% while the FTSE 100 lost 0.44%. The CAC 40 was down 0.29% and IBEX35 lost 0.13%.
  • The Brent crude oil prices, which rose to its peak of $86.74 per barrel in early October, fell as much as to $57.50 per barrel yesterday, heading for its worst month since October 2008. It was last trading flat at $59.51 barrel.
  • The dollar index was largely steady, trading at 96.86 ahead of the two-day G-20 summit, which gets underway later today.
  • Investors’ primary focus will be on the dinner between Trump and Jinping, scheduled for tomorrow. The meeting comes in the backdrop of trade tensions between the two world’s largest economies, resulting in both nations slapping tariffs on imports worth billions of dollars from each other.





Date : 30-Nov-2018