World Markets

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World Markets at a glance for currency, equity, commodity, bonds, crypto currency, financial news & major economic events of 17 August 2022.

World MarketsFX Insights

Indian Rupee

Indian Rupee is expected to open lower at 79.23 due to bunched up inflows of 3 days (Monday & Tuesday was a holiday). Lower oil is also helping Indian rupee. We may however see oil companies buying dollars at lower levels

Technical Analysis

Current level is 79.23.. 

In the Daily  chart,  first support is placed at 78.96 ( 50 day Exponential Moving average). Break of 78.00 will take pair towards 78.75 ( Lower Bollinger band) 

First Resistance is at 79.34-36 range  which is 7 & 18 day Exponential moving average . Break of which will take USD/INR towards 79.75 which is previous week high 

In technical indicators, RSI is at 49.89  and is flat. 

MACD is now showing flat  trend.

USD-INR-Daily-17-Aug-2022

USD INR Daily Chart

Other currency

The New Zealand dollar rose on Wednesday after the central bank reiterated its hawkish policy stance while raising interest rates for the seventh time in a row, while the Australian dollar fell after wage growth data fell short of expectations.

The dollar index, which measures the value of the US currency against six major peers, was steady in morning trade at 106.39, having ended Tuesday largely unchanged.

The euro was steady at $1.0177 after eking out minor gains overnight, while sterling was last trading at $1.2111.

In early Asia, the Japanese yen was trading at 134.1. The currency has benefited greatly from the weaker dollar, rising to as high as 131.7 per dollar last week before giving back some of those gains.

Equity Insights

Indian Equity 

The market is expected to open in the green, with the SGX Nifty indicating a positive start for India’s broader index with a gain of 90 points.

On Tuesday, the benchmark indices opened sharply higher. On the daily charts, the BSE Sensex rose 379 points to 59,842, while the Nifty50 rose 127 points to 17,825 and formed a Doji candlestick pattern.

According to the pivot charts, the key support level for the Nifty is 17,780, followed by 17,734. If the index continues to rise, the key resistance levels to watch are 17,955 and 18,000.

Other Equity

On Wednesday, Asian stocks tracked Wall Street’s strong performance, as strong overnight earnings from U.S. retail behemoths pointed to more room for the Federal Reserve to combat inflation with rate hikes.

The Nikkei 225 index in Japan rose 0.81% to 29,101.33, breaking through the 29,000 barrier for the first time since January 6.

The MSCI Asia Pacific Index (excluding Japan) rose 0.02%.

New Zealand stocks fell 0.285% while the kiwi dollar rose 0.35% after the country’s central bank announced a fourth consecutive 50 basis point rate hike to 3.00%.

After Q2 wage data showed growth that was slightly below expectations, Australia’s AXJO index fell 0.14% and the Australian dollar hit a new one-week low.

The Hang Seng index in Hong Kong rose 0.2%, while Chinese blue chips fell 0.3%.

The Dow Jones Industrial Average gained 0.71% overnight, while the S&P 500 gained 0.19%.

Commodity Insights

Oil

Oil prices rose on Wednesday, recovering from six-month lows hit the day before, as a larger-than-expected drop in US oil and gasoline stocks reminded investors that demand remains strong, albeit overshadowed by the threat of a global recession.

Brent crude futures increased by 13 cents, or 0.1%, to $92.47 per barrel. WTI crude futures gained 27 cents, or 0.3%, to $86.80 per barrel.

Economic Events

Economic Calendar

Wednesday, Aug 17, 2022

TimeCountry

Event

ForecastPrevious
11:30

GBP

CPI (YoY) (Jul)

9.80%

9.40%

18:00

USD

Core Retail Sales (MoM) (Jul)

-0.10%

1.00%

18:00

USD

Retail Sales (MoM) (Jul)

0.10%

1.00%

20:00

USD

Crude Oil Inventories

-0.275M

5.458M

23:30

USD

FOMC Meeting Minutes  

 

 

 

 

 

 

 

 

 

 


Disclaimer: All information in this report is collected from various sites on the internet. Although we have taken all precautions for the correct representation of data however we do not take any responsibility for any errors and omissions. The technical analysis and views expressed are the author’s own views. We are not responsible for any losses on account of following the same.

 

Sources

https://www.reuters.com/

https://in.investing.com/

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