Forex Analysis Report

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International Forex Market Rates for USD, Euro and Pounds provided below was last updated on Dec 17 ~ 10:00 - Indian Standard Time.

Latest Inter Bank Rates (Updated Every 15-30 Minutes)

Market Trend Analysis - INR / USD / EURO / GBP

Last Updated in part or full on Thursday, December 13, 2018 - 9:58 am (GMT +05:30:00)

Trend Indicators against INR
- - - - - - - - - - - - - - - - -USD - - - - - - - - - EURO - - - - - - - -GBP - - - - - -
Previous day----------70.57/70.90-------79.51/80.42------89.95/90.73-------
Today's opening-----70.11/70.12-------79.75/79.78------89.96/90.00--------
Today range --------69.90 to 70.40------------------------------------------------
& Current month----69.50 to 71.50-----------------------------------------------

The Indian rupee opened stronger against the dollar at 70.11/12, after Fed Reserve Chairman Jerome Powell's comment suggesting a slower pace of rate increases triggered the biggest slide in the dollar index in a month.

SPOT/INR: The Indian rupee ended stronger at 70.62/63 on likely equity related dollar inflows and greenback sales by exporters.

FORWARD PREMIUM: Forward dollar/rupee premium are likely to take cues from the spot.

GLOBAL DEVELOPMENTS:
Asian shares fell on Monday, extending weakness in global equity markets at the end of last week as soft Chinese economic data and falling oil prices rekindled anxiety about the outlook for world growth. A combination of weak factory-gate inflation data in China and low oil prices weighed on global stocks on Friday, dragging MSCI's gauge of global stocks to its worst day in two weeks. The index was last 0.11 percent lower. Risk asset markets have been under intense pressure recently as worries about a peak in earnings growth added to anxiety about slowing global trade and investment. A spike in U.S. bond yields, driven by the Federal Reserve's commitment to keep raising borrowing costs, has also shaken emerging markets as investors poured money into U.S. dollar assets. The Wall Street losses came after the Fed had earlier in the week held rates steady but stayed on track to tighten policy next month. The Fed's stance disappointed some investors who had hoped that the rout in equities in October might have prompted policy makers to take a more cautious approach on the outlook for rates. Markets are pricing in a 25bp hike in December, with data flow suggesting pipeline inflation pressures are building. Taking some pressure off a sharp drop in oil prices last week, Saudi Arabia's energy minister said on Sunday that the country plans to reduce its oil supply to world markets by 500,000 barrels per day in December, representing a global reduction of about 0.5 percent. That helped to lift oil prices, with U.S. crude rising 0.90 percent to $60.73 a barrel and Brent crude gaining 1.13 percent to $70.97 per barrel. However, the Saudi supply cut may prove to be a temporary solution to falling prices as global growth slows, with two of the world's biggest economies - Germany and Japan - expected to report a contraction in output in the coming days. Supply-side surprises appear to be the main culprit, but concern that global demand is slowing may also be creeping into markets and weighing on risk appetite. In currency markets, the dollar rose 0.07 percent against the yen to 113.90, and the euro was down 0.06 percent on the day at $1.1327. The dollar index, which tracks the greenback against a basket of six major rivals, was up at 97.004. The British pound was off 0.3 percent to fetch $1.2934. The sterling has been under pressure over the past few weeks as investors worried whether an orderly Brexit deal would be achieved.

MARKET INDICATORS: Canada – House starts, Annualised @ 17.45 IST, USA – NFIB Business optimism @ 15.30 IST, Germany – Trade balance, EUR, Sa @ 11.30 IST.

POSITIVE FACTORS FOR RUPEE:
1. Continuous foreign fund flows and Domestic Political Stability.

FACTORS AGAINST RUPEE:
1. Demand from importers. (Oil & Defence),
2. Due to Geopolitical Tensions and Trade war between US and China

Indicative / Forward / Cross Rates:

Note: This information is given only for guidance purpose without any obligation on the part of TMB or any of its officials. Any person dealing on the basis of the said information does so at his own risks and no objection arises to TMB or any of its officials. All such trading involves risks.

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Exchange Rates Information last updated in part or full on Thursday, December 13, 2018 - 9:58 am (GMT +05:30:00) for ready transactions. All quotations are per unit of Foreign Currency (Japanese Yen in 100 Units).

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