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2019-11-14 THURSDAY

Doubts that securing a trade agreement between the United States and China is far from a done deal helped to lift safe-haven currencies such as the yen and the Swiss franc, while pulling the yuan lower in opening trades today. U.S.-China trade negotiations have ‘hit a snag’ over farm purchases, with Beijing not wanting a deal that looks one-sided in favor of the United States. An agreement last month between the two economic powers to sign a “phase one” pact to end their trade war boosted optimism in global financial markets, lifting the yuan and other risk-sensitive currencies. If Trump takes a hard line, emboldened by the latest strength in stock markets, and refuses to make some concessions to China, there will be the risk element and an agreement cannot be reached at the last minute. In currencies, the yen firmed to 108.80 yen per dollar, having risen to as high as 108.66 in previous U.S. trade. The euro stood at $1.1000, having touched one-month low of $1.0995 in U.S. trade while the Sterling was little moved at $1.2857, stuck in a tight range this week, in a limbo ahead of a Dec. 12 election. The offshore yuan traded at 7.0292 yuan per dollar, retreating since it hit a three-month high of 6.9530 last Thursday.  The Indian Rupee opened marginally stronger by 02 paisa at 72.07/08 against its previous session’s close of 72.09/10 and is expected to trade with a bearish bias between 71.90– 72.30 ranges today.
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Dollar Rupee

 
MIDDAY REPORT


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INR Rates

Symbol   Bid  ASK
USD71.54 71.55
GBP90.38364 90.41225
EUR78.73692 78.76554
JPY0.66039 0.66045
CHF71.71211 71.72649
AUD48.32527 48.33242
SGD52.17328 52.19231
CAD54.08634 54.1027
NZD44.84843 44.8842
*Closing Rates on : 2019-10-15

Stock Indices

IndexPointsChange
BSE Sensex40286.48170.42
S&P CNX Nifty11872.10
NASDAQ8257.831-1.982
HangSeng26406.6482.95
DJ IA27781.96-1.63
DAX13180.23-49.84
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