Markets at a Glance

Friday, 26 June 2020

Our View in a Snapshot


NIFTYUSD/INR
Expected Open10300 ( + 70 )75.50
Expected Range10200 – 1045075.35 – 75.70
  • Dollar strengthens as virus fears dent risk appetite
  • Asian stocks set for cautious gains after choppy Wall Street session
  • Oil prices crawl up on demand recovery

Currencies

The U.S. dollar gained on Thursday due to safety buying as fears grew over a rapid rise in coronavirus infections in some U.S. states, and as trade tensions worsened between the United States and the European Union.

The U.S. dollar index was last up 0.18% on the day at 97.41. The euro slipped as riskier assets in the region, including Italian bonds, weakened, and as the European Central Bank fought back against a German court challenge to its money-printing plans.

The euro was last down 0.32% at $1.1214.The dollar gained 0.16% against the Japanese yen to 107.19 yen.

Our View on USD / INR

The rupee will likely be quoted around 75.50 to a dollar in early trades.

The Rupee is likely to trade in the Range of 75.35 to 75.70

Equity

Asian stocks were set to gain on Friday, as global sentiment remained doggedly upbeat despite increased volatility and rising new coronavirus infections, with Wall Street pushed higher by a loosening in bank regulations.

Australian S&P/ASX 200 futures rose 1.21% in early trading. Japan’s Nikkei 225 futures added 0.13%. Hong Kong’s Hang Seng index futures lost 0.93%. MSCI’s gauge of stocks across the globe . gained 0.45%. On Wall Street, the Dow Jones Industrial Average rose 1.18%, the S&P 500  gained 1.10% and the Nasdaq Composite added 1.09%.

Our View on Stock Market

The Indian stock market is expected to open positive around 70 to 80 points negative from yesterday close.

The Nifty futures are likely to open around  10,300.

The likely range for the day is 10,200 – 10,450

OIL

Oil prices rose in early trade on Friday, extending gains from the previous day on optimism about recovering fuel demand worldwide, despite surges in coronavirus infections in some U.S. states and indications of a revival in U.S. crude production.

U.S. West Texas Intermediate (WTI) crude futures gained 15 cents, or 0.4%, to $38.87. Brent crude futures rose 22 cents, or 0.5%, to $41.27

Source : Reuters

Published by prashanti forex

Prashanti Forex is managed by a certified treasury professional with an experience of more than 15 years in Finance and Advisory Business. His expertise come from various organisations, where he has gained knowledge and deep understanding of financial environment. His Principle Objective is providing customised advise with excellent service, committing a relationship based on integrity, understanding, honesty and trust. We are glad to offer you a boutique of services which will enable your organisation to enhance the profitability and efficiently manage the business risks. Our Services are : Treasury & Risk Management Solutions Trade Finance Wealth Management

Leave a comment

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: