Forex Rates

INSTRUMENTLAST PRICE
USDINR71.2500
EURINR78.7300
EURUSD1.1050
GBPUSD1.2813
USDJPY109.24
DOW JONES27689
NIKKEI23330
BSE40576
NIFTY11985
GOLD1468
SILVER17.00
CRUDE62.16
US 10Y1.91%
INR 1M FWD19p(3.20%)
INR 3M FWD63p(3.49%)
INR 6M FWD142p(4.01%)
INR 12M FWD288p(4.04%)
$ LIBOR 1M1.76%
$ LIBOR 3M1.90%
$ LIBOR 6M1.92%
$ LIBOR 12M1.98%

GLOBAL MARKET

The Dow and S&P 500 notched record closing highs on Thursday as the latest signs of progress in U.S.-China trade relations relieved investors, but a report raising fresh worries about the outlook for a deal limited the day's gains. World stocks rallied to near record highs after China said it had agreed with the United States to cancel tariffs in phases, a key demand of Beijing for sealing a deal to end a trade war that has slowed economic growth and roiled markets. U.S. Treasury yields surged to more than three-month highs on Thursday, exaggerated by technical factors, as reports that a U.S.-China agreement to roll back trade tariffs boosted global economic growth expectations.U.S. crude oil futures fell amid fading hopes that a deal to end the lingering trade war between Washington and Beijing would be signed any time soon, compounded by rising crude inventories in the US. Gold prices hovered near a one-month low hit in the previous session after China and the US agreed to roll back tariffs as part of the first phase of a trade deal, stoking investors towards riskier assets.

INDIAN MARKET

USD/INR opens sharply higher after Moody's cuts India’s outlook to negative from stable, citing risks of entrenched economic slowdown. Pair now at 71.25, off 71.30 early peak and highest since Oct. 18, against 70.96 previous close. Risks of prolonged slowdown partially reflects lower government and policy effectiveness in addressing long-standing economic weaknesses than previously estimated, Moody’s says. Reuters reports that rollback of China tariffs facing opposition in White House. Chinese yuan edges lower to 6.9776. The benchmark BSE Sensex and the broader NSE index were trading 0.18% and 0.22% lower, respectively, as India’s credit rating outlook was cut to negative by Moody’s Investors Service. Housing Development Finance Corp. and Reliance Industries led losses. The benchmark 6.45% bond maturing in 2029 was trading lower at 99.34 rupees, yielding 6.54%, against 99.59rupees and a 6.51% yield at previous close, after Moody's cut India’s credit ratings outlook.

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