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World Markets at a glance for currency, equity, commodity, bonds, crypto currency, financial news & major economic events of 19 August 2022.
FX Insights
Indian Rupee
The Indian rupee is expected to open lower against the US dollar on Friday, after the dollar index reached a one-month high in response to comments from US Federal Reserve officials on the magnitude of rate hikes.
The rupee is expected to open at around 79.75 per US dollar in early trades, down from 79.6725 the previous session.
Technical Analysis
Current level is 79.74.
In the Daily chart, first support is placed in 79.54 range ( 7 day Exponential Moving average). Break of 79.54 will take pair towards 79.45 ( 18 day Exponential moving average)
First Resistance is at 79.92 which is hourly bollinger band, break of which will take USD/INR towards 80.05 which is all time high .
In technical indicators, RSI is at 56.89 and is flat.
MACD is now showing flat trend.
USD – INR Daily Chart
Other currency
The US dollar rose to a new one-month high against a basket of major currencies on Friday, as Federal Reserve policymakers emphasised the need for additional interest rate hikes ahead of their key Jackson Hole symposium next week.
The dollar index rose 0.121% to 107.620, having previously reached 107.68, its highest level since July 18. The index is on track for a 1.89% gain this week, its best weekly performance since June 12.
The dollar rose to 136.38 yen for the first time since July 28, while the euro fell to $1.00735, its lowest level since July 15. Sterling fell to $1.1905, its lowest level since July 21.
Equity Insights
Indian Equity
The market is expected to open in the green, with the SGX Nifty indicating a 20-point gain for the broader equity indices in India.
Following a choppy session on August 18, markets reversed losses in the final hour of trading and closed higher for the eighth consecutive session. The BSE Sensex ended the session 38 points higher at 60,298 while the Nifty50 advanced 12 points to 17,956.5 and formed a bullish candlestick pattern on the daily charts.
According to the pivot charts, the Nifty’s key support level is 17,883, followed by 17,809. If the index continues to rise, the key resistance levels to watch are 17,999 and 18,042.
Other Equity
On Friday, Asia-Pacific markets were mostly upbeat, contrasting with a subdued Wall Street looking to extend its recent market rally.
On the mainland, the Shanghai Composite gained 0.14% to begin, but the Shenzhen Component fell 0.21%.The Hang Seng index in Hong Kong fell 0.23%.
Japan’s Nikkei 225 index rose 0.51%, while the Topix index rose 0.45% and the Kospi fell 0.38%.The S&P/ASX 200 in Australia rose 0.12%.
Commodity Insights
Oil
Oil prices edged higher in early trade on Friday, extending a three-day rally as investors weighed expectations for strong fuel demand after a larger-than-expected drawdown in US crude stocks, dismissing concerns about a global economic slowdown.
Brent crude futures were up 7 cents, or 0.1%, to $96.66 per barrel , after closing 3.1% higher on Thursday. West Texas Intermediate crude in the United States was trading at $90.65 per barrel, up 15 cents, or 0.2%, after rising 2.7% the previous session.
Economic Events
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Economic Calendar |
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Friday, Aug 19, 2022 |
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| Time | Country |
Event |
Forecast | Previous |
| 11:30 |
EUR |
German PPI (MoM) (Jul) |
0.60% |
0.60% |
| 11:30 |
GBP |
Retail Sales (MoM) (Jul) |
-0.20% |
-0.10% |
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
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