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Oct 09 2017

USDINR lower as North Korea fears weigh on Dollar; China services PMI disappoints

Financial Market Overview

09th October, 2017

Morning Coffee:-                                                                                  



  • USD/INR lower on renewed geopolitical risks amid worries North Korea may be preparing another missile test; pair now at 65.30 against 65.38 previous close.
  • Pair to tip in range between today 65.20-65.40.

Indian Equities:-

  • Equity benchmarks were flat in opening trade despite positive Asian cues.
  • The 30-share BSE Sensex was down 12.67 points at 31,801.55 and the 50-share NSE Nifty fell 7.90 points to 9,971.80. About two shares advanced for every share falling on the BSE.

Global Markets:-

  • Asia markets edged up early on Monday. The S&P/ASX 200 rose 0.61 percent on broad-based gains across its sub-indexes, With Japan, South Korea and Taiwan markets closed for public holidays, investors turns their attention to China as mainland markets resume trade after the week-long “Golden Week” holiday with Shanghai composite trading higher by 1.24%.
  • S. stocks were mixed at the close on Friday, as gains in the Technology, Industrials and Healthcare sectors led shares higher while losses in the Telecoms, Oil & Gas and Consumer Services sectors led shares lower. At the close in NYSE, the Dow Jones Industrial Average fell 0.01%, while the S&P 500 index fell 0.11%, and the NASDAQ Composite index gained 0.07%.
  • European markets finished mixed as of the most recent closing prices. The FTSE 100 gained 0.20%, while the CAC 40 led the DAX lower. They fell 0.36% and 0.09% respectively.
  • Dollar index off 0.1% at 93.749, after scaling high of 94.267 on Friday, its strongest in more than two months, as September US jobs data raised bets of December rate increase. The U.S. Labor Department data on Oct. 6 showed nonfarm payrolls dropped by 33,000 jobs in September, impacted by Hurricanes Harvey and Irma, even as unemployment rate fell to an over 16-year low of 4.2% and annual wage growth quickened to 2.9%. U.S. markets will remain partially shut today for Columbus Day celebrations.
  • In China, the Caixin services PMI dipped to 50.6 in September, missing the 53.1 level expected and down from 52.7 in August.