USDINR opened with 5 pips gain @ 71.27/28 against Wednesday closed at 71.32/33 levels. Rupee up move was supported by weaker greenback against its major rivals. Oil prices remained steady but traded with a slight negative bias as concerns over global growth and ECBs forward guidance is on focus today. The risks are tilted to the downside as a result of lower growth globally.
INTRADAY RANGE - 70.95 ( 71.15 - 71.39) 71.51
The Indian rupee on Wednesday snapped its three-day losing streak and settled higher by 11 pips at 71.32/33 against the greenback on increased selling of the American currency by exporters and banks. Besides, the rupee up move was supported by weaker greenback against its major rivals, although intense selling in domestic equities impacted traders sentiment, capping gains in the domestic currency value.
The dollar eased against its peers on Thursday, as concerns over global growth, a U.S. government shutdown and U.S.-Sino trade talks kept a tight lid on the greenback. Trade tensions are the most dominant factor for investor sentiment right now and will drive market flows. The partial U.S. government shutdown, now in its 34th day has hurt investor sentiment. U.S. Republican Senate Majority Leader Mitch McConnell said he planned to hold a vote on Thursday on a Democratic proposal that would fund the government for three weeks.
Comentários