MENU

Published on 14/02/2020 9:47:17 AM | Source: Geojit Financial Services Ltd

US dollar continued its upper hand amid safe haven asset demand - Geojit Financial

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

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel https://t.me/InvestmentGuruIndia 

Download Telegram App before Joining the Channel

 

News Box

* Rupee ended at 71.31 a dollar yesterday, up 2 paise against its previous close of 71.33.

* FBIL set reference rate for dollar at 71.2580 and euro at 77.7373.

* Global Funds buy net INR10.6b of India Stocks on Thursday: NSE; Foreigners buy net INR4.13B of Indian Equity Derivatives Thursday

* Yield on 6.45% bonds maturing July 2029 at 6.43% on Feb. 13

* India to release its WPI for Jan and weekly FX reserves data today.

* US dollar continued its upper hand amid safe haven asset demand.

* In economic news, US inflation released stood at its highest since 2018.

* Euro slumped to more than two year low while UK's pound edged higher on new cabinet news.

* Japan’s yen held Thursday’s gains, supported by concern and uncertainty over the spread of the coronavirus.

* PBOC has set the Yuan reference rate at 6.9843 versus Thursday's fix at 6.9785

 

Traders' Corner

Easing oil prices and weakness in the greenback supported the Indian currency to an extent however, the fall in domestic equity and weak economic data continued to haunt the same, which closed marginally yesterday. Local unit yesterday opened at 71.35 a dollar and fell to a low of 71.49 before settling the day at 71.31 against its previous close of 71.33. On the previous day, Rupee was down by 5 paise.

FIIs were buyers in the capital market segment on 13 Feb; bought shares worth Rs 1061.39cr as per exchange's provisional figures. DIIs, on the other end were sellers sold shares worth Rs 960.48cr for the same period. Oil prices took cues from recent death toll from the coronavirus while some sort of optimism returned after WHO said that the outbreak could subside. Now for the markets, WPI for Jan will be in focus that will be released today.

For USDINR pair, 71.53 and 71.77 will be the major levels on the upside. Conversely if 71.17 level breaks, then 70.81 level will be in play.

 

To Read Complete Report & Disclaimer Click Here

 

For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer 
SEBI Registration Number: INH200000345

 

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer