daily report
Apr 25 2018

USD/INR breaks Past 66.50 as risk appetite falls

Financial Market Overview

25th April, 2018

Morning Coffee:-                                                                                  

MARKETS AT OPEN:-

Rupee:-

  • USD/INR opens higher after 10-year US yields rise to 3%, pulling regional currencies lower. Pair now at 66.67, highest since March 10, 2017, against 66.38 previous close. US 10-year borrowing cost climbs to 3% for first time in over four years, prompting worst decline on Wall Street in two weeks.
  • Pair to tip in range between 66.40-66.80.

 

Indian Equities:-

  • Benchmark indices opened lower, tracking negative trend in global stocks.
  • The 30-share BSE Sensex was down 52.82 points at 34,563.82 and the 50-share NSE Nifty fell 21.10 points to 10,593.30.
  • Bharti Airtel, Bharti Infratel, HPCL, BPCL and Reliance Industries were early gainers.
  • Hindalco, Cipla and HCL Technologies were under pressure.

 

Global Markets:-

  • Asian markets are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 0.65% while the Hang Seng is down 0.77%. The Shanghai Composite is not trading.
  • European markets finished mixed as of the most recent closing prices. The FTSE 100 gained 0.36% and the CAC 40 rose 0.10%. The DAX lost 0.17%.
  • S. stocks slid on Tuesday as 10-year Treasury yields hit 3 percent for the first time in four years, stoking concerns over higher borrowing rates for companies already facing rising costs, and as quarterly results failed to deliver positive outlooks.
  • The Dow Jones Industrial Average fell 423.32 points, or 1.73 percent, to 24,025.37, the S&P 500 lost 35.74 points, or 1.34 percent, to 2,634.55 and the Nasdaq Composite dropped 121.25 points, or 1.7 percent, to 7,007.35.
  • The dollar inched up on Wednesday, approaching its recent four-month high as the U.S. 10-year bond yield poked above 3 percent to hit its highest level since early 2014.
  • The dollar index against a basket of six major currencies rose 0.1 percent to 90.844. It had climbed overnight to 91.016, highest since Jan. 12, before a slide in Wall Street stocks tempered investor risk appetite and slowed the greenback’s rally against its peers, notably the yen.