NRI Newsletter - Market News

NRI Newsletter - Market News
 
DATE: Tuesday, 17th January, 2017
 
USD/INR: as on 16th January, 2017
The rupee on Monday staged a mild recovery by gaining by 6 paise to end at 68.10 on fresh dollar selling by banks and encouraging macro-economic data. Tracking strong dollar movement, the domestic currency opened substantially lower at 68.21 from last weekend close of 68.16 at the Interbank Foreign Exchange (forex) market and depreciated further to 68.26 on sustained dollar demand. However, the domestic unit staged a strong recovery towards the fag-end trade to hit a fresh intra-day high of 68.0875 before settling at 68.10, showing a gain of 6 paise, or 0.09 per cent.
USD/INR as on 16th January, 2017
Currency
OPEN
HIGH
LOW
CLOSE
USDINR
68.2350
68.2675
68.0800
68.1000
Highest till date: 68.8650 on 24th November, 2016
 
Forward premium(%) as on13th January, 2017
Periods
1 Mth
3 Mth
6 Mth
12 Mth
Premiums
4.70/5.02
4.84/4.95
4.64/4.70
4.41/4.44









 
 
USD/INR Cash/Tom/Spot Levels: (in Paisa)                                      
(Updated as on 17th January, 2017 @10.00am)  
 
 Cash/Spot:  1.00/3.00        Cash/Tom:  0.50/1.50
 Tom/Spot:    0.50/1.50        Spot/Next:  0.50/1.50
 
Cash Date:     17th  January, 2017  
Tom Date:      18th   January, 2017  
Spot Date:     19th January, 2017  
 
 
 
MAJOR WORLD CURRENCIES: as on 16th January, 2017
USD: The US dollar rallied against Sterling on Monday, as investors fretted over a hard Brexit, while the safe haven yen gained ground amid uncertainty over president-elect Donald Trump’s plans to boost the U.S. economy.  
EUR: The euro fell lower against the U.S. dollar on Monday. EUR/USD touched an intraday high of 1.0635 before relinquishing the initial gains to close at 1.0600, showing a loss of 0.39 percent on the session.
GBP: Sterling fell to the lowest levels since October’s flash crash on Monday as investors fretted over Brexit. GBP/USD hit lows of 1.1988, falling below the 1.20 level for the first time since October’s flash crash, before pulling back to 1.2052, off 0.99% for the day. The fall in the pound came ahead of a speech by U.K. Prime Minister Theresa May on Tuesday where she is expected to outline plans for Britain’s exit from the European Union.
GOLD: Gold prices edged up on Monday, supported by safe-haven demand due to uncertainty over U.S. policy ahead of President-elect Donald Trump's inauguration and amid concerns over Britain's exit from the European Union. The yellow metal closed for the day at $1202.80 per ounce.
Outlook for the day (17th January, 2017)
USD/INR is expected to trade in a range between 68.00 and 68.25 with a higher bias. Major currencies are expected to be range-bound against the Greenback.
 
 
 
MAJOR WORLD CURRENCIES:
as on 16th January, 2017
 
CURRENCY
OPEN
HIGH
LOW
CLOSE
EUR/USD
1.0615
1.0635
1.0577
1.0600
GBP/USD
1.2058
1.2085
1.1979
1.2043
AUD/USD
0.7492
0.7507
0.7455
0.7475
USD/JPY
114.53
114.53
113.65
114.18
 
Foreign Currencies
(Updated: 17:30 hrs. on 16th January, 2017)
 
USD/INR: 68.1000
Against
USD
INR
1 EUR    =
1.0592
72.13
1 GBP    =
1.2064
82.16
100 JPY  =
0.8760
59.66
1 AUD    =
0.7477
50.92
1 CHF    =
0.9887
67.33
 
Precious Metals
(Updated: 17:30 hrs on 16th January, 2017)
 
Gold ($/oz)
1203.66
Silver ($/oz)
16.81
 
Stock Indices
(As on  16th January, 2017)
 
Index Close
13th January
16th January
BSE Sensex
27238.06
27288.17
 NSE Nifty
8400.35
8412.80
*Dow Jones
19885.73
---
*NASDAQ
5574.12
---
 
*New York remained closed on 16-01-2017 on account of observance of Martin Luther King day.
 
Major Economic Data Releases for the Day
Date
Region
Time(IST)
Description
17.01.17
GBP
03:00 PM
CPI y/y
17.01.17
GBP
03:00 PM
PPI Input m/m
17.01.17
GBP
03:00 PM
RPI y/y
17.01.17
EUR
03:30 PM
German ZEW Economic Sentiment
17.01.17
USD
07:00 PM
Empire State Manufacturing Index
 
The views contained herein are those of individuals and not necessarily those of the Bank.  This is for information purpose only and no recommendations are intended.  While due care has been taken in preparation of this communication, IOB cannot be held responsible for any consequences of any decisions based on this information. Comments/Suggestions may be freely emailed to feddeal@iobnet.co.in