NRI Newsletter - Market News

NRI Newsletter - Market News
 
DATE: Monday, 26th September, 2016
 
USD/INR: as on 23rd September, 2016
The rupee on Friday closed almost flat against the US dollar as currency traders restrained from taking any major positions ahead of the weekend despite positive sentiment emerging out of US Fed meet outcome. The rupee opened lower at 66.69 against Thursday's closing value of 66.66 at the Interbank Foreign Exchange market and drifted further to 66.7350 on fresh demand for the American currency from importers and weak local equities. It largely fluctuated between a high of 66.62 and a low of 66.7350 throughout the day, due to uneven dollar demand and supply before ending at 66.6550, revealing a mere 1 paisa gain.
USD/INR as on 23rd September, 2016
Currency
OPEN
HIGH
LOW
CLOSE
USD/INR
66.6900
66.7350
66.6200
66.6550
Highest till date: 68.85 on 31st August, 2013
 
Forward premium (%) as on 23rd September, 2016
Periods
1 Mth
3 Mth
6 Mth
12 Mth
Premiums
6.30/6.57
6.00/6.09
5.66/5.70
5.53/5.55









 
 
USD/INR Cash/Tom/Spot Levels: (in Paisa)                                      
(Updated as on , 26th September, 2016 @ 10.00 am )  
 
  Cash/Spot: 2.00/3.00       Cash/Tom:  1.00/1.50
  Tom/Spot:    1.00/1.50       Spot/Next:  1.00/1.50
 
   Cash Date:  26th September, 2016
  Tom Date:   27th September, 2016
  Spot Date:   28th September, 2016  
 
 
 
MAJOR WORLD CURRENCIES: as on 23rd September, 2016
USD: The dollar held onto modest gains against the other major currencies in quiet trade on Friday, although the Federal Reserve’s decision this week to leave interest rates on hold continued to weigh on the greenback. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.23% at 95.53, off a nearly two-week low of 94.95 on Thursday.
EUR: The euro was almost unchanged against the U.S. dollar on Friday, after the release of mixed manufacturing and service sector data from the euro zone as investors continued to digest the Federal Reserve’s decision to leave interest rates unchanged this week. EUR/USD hit 1.1191 during European morning trade, the session low; the pair subsequently consolidated at 1.1222.
GBP: Pound tumbled to a fresh one-month low against the American currency on Friday. GBP/USD traded in a wide range between 1.2912 and 1.3088, before consolidating at 1.2972, showing a loss of 0.0101 or 0.77 percent.
GOLD: Gold steadied in a lackluster session as the U.S. dollar also flattened on Friday, but bullion stayed on track for its biggest weekly gain in nearly two months after the Federal Reserve sounded a cautious note on the pace of interest rate hikes.
Outlook for the day (26th  September, 2016)
USDINR is expected to trade in a range between 66.70 and 66.95 with a higher bias. Major currencies are expected to trade lower against the Greenback.
 
 
 
MAJOR WORLD CURRENCIES:
as on 23rd September, 2016
 
CURRENCY
OPEN
HIGH
LOW
CLOSE
EUR/USD
1.1205
1.1240
1.1191
1.1222
GBP/USD
1.3069
1.3088
1.2912
1.2972
AUD/USD
0.7640
0.7653
0.7606
0.7618
USD/JPY
100.73
101.24
100.65
100.98
Foreign Currencies
(Updated: 18:30 hrs. on 23rd September, 2016)
 
USD/INR: 66.6550
Against
USD
INR
1 EUR    =
1.1210
74.72
1 GBP    =
1.2931
86.19
100 JPY  =
0.9898
65.98
1 AUD    =
0.7626
50.83
1 CHF    =
1.0279
68.51
 
Precious Metals
(Updated: 17:30 hrs on 23rd September, 2016)
 
Gold ($/oz)
1338.50
Silver ($/oz)
19.8430
 
Stock Indices
(As on  23rd September, 2016)
 
Index Close
22nd September
23rd September
BSE Sensex
28773.13
28668.22
NSE Nifty
8867.45
8831.55
Dow Jones
18392.46
18261.45
NASDAQ
5339.52
5305.75
 
Major Economic Data Releases for the Day
Date
Region
Time(IST)
Description
26.09.16
JPY
Tentative
BoJ Governor Kuroda Speaks
26.09.16
EUR
01:30 PM
German Ifo Business Climate
26.09.16
USD
07:30 PM
New Home Sales
26.09.16
EUR
08:35 PM
ECB President Draghi Speaks
 
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