Published on 29/10/2019 11:03:04 AM | Source: Geojit Financial Services Ltd

Euro was steady while UK's pound fell on Brexit concerns - Geojit Financial

Posted in Currency Report| #Currency Tips #Geojit Financial Services Ltd

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News Box

* Indian markets were shut on Monday on account of Diwali holiday.

* Rupee ended at 70.88 a dollar on Friday, up 14 paise against its previous close of 71.02.

* FBIL set reference rate for dollar at 70.9593 and euro at 78.8121.

* Forex Reserves +$1.0b to Record $440.8b in Week Ended Oct. 18.

* Foreigners Buy Net INR12.1b of India Equity Derivatives Oct. 25.

* Yield on 6.45% bonds maturing July 2029 at 6.50% on Oct. 25.

* US dollar traded with marginal gains on the expectations of easing trade tensions.

* FOMC is scheduled to meet this week for its monetary policy meeting.

* Euro was steady while UK's pound fell on Brexit concerns.

* Japan’s yen steadied after touching the weakest level since Aug. 1 overnight as risk sentiment rises on signs that a U.S.-China trade deal is getting closer.

* PBOC has set the yuan reference rate at 7.0617; the strongest level since Aug. 26, having fixed the exchange rate at 7.0762 per Dollar on Monday.


Traders' Corner

After a day of downfall, Indian currency retained its positive run with closing the day at high led by the last hour buying in the domestic equities. Local unit on Friday, opened at 71.04 a dollar but slipped to a low of 71.06 before reversing to end at 70.88 against its previous close of 71.02. On Thursday, Rupee ended down by 11 paise.

FIIs were sellers in the capital market segment on Friday; sold shares worth Rs 193.38cr as per exchange's final figures. However, they bought equities worth Rs 6.61cr on Sunday as per provisional figures. The exchanges conducted a one hour trading on Sunday on account of Muhurat trading. For markets, the week will remain to event packed as Fed is scheduled for its monetary policy while on the domestic front, macroeconomic numbers will start to unveil.

For USDINR pair, 71.19 and 71.41 will be the major levels on the upside. Conversely if 70.52 level breaks, then 70.25 level will be in play.


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