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Forex Market News-20 April 2016

The Indian Rupee appreciated by 0.12 percent on Monday’s trading session on the back of rise in risk appetite in the domestic markets and weakness in dollar. Further, upbeat macro economic data and continued FII inflows into local shares supported rupee. India WPI fell 0.85 percent in March. Benchmark stock index 50 share Nifty Index increased by 0.82 percent to 7914.7.
Last message received on 4/20 at 11:36 AM

Euro appreciated by 0.39 percent in yesterday’s trading session on the back of weak Dollar. Dollar gave up its strength as the weak economic data from US fuelled the concern over strength of the economy. Further, upbeat economic data from Europe supported euro. German ZEW Economic Sentiment increased to 11.2 in April from 4.3 in March. However, a sharp gain was capped as Investors remained cautious ahead of ECB monetary policy meet. In intraday Euro touched a high of 1.1385 and closed at 1.1359 against Dollar.

Pound appreciated by 0.83 percent in yesterday’s trading session on the back of weakness in dollar and on optimistic polls on Britain’s referendum. The two polls showed that majority has voted to stay in EU. Further, Bank of England in its monetary policy meeting kept its policy untouched; and policymakers voted unanimously to keep rates unchanged at 0.5 percent. However, sharp gain was capped on the back of worries over Britain exit from EU. Bank of England Governor Mark Carney told that uncertainty around the referendum was already weighing on the economy. In intraday Pound touched a high of 1.4418 and closed at 1.4392 against Dollar.

Japanese Yen depreciated by 0.33 percent in yesterday’s trading session as the demand for safe haven declined on rise in risk appetite in the global markets. However, sharp fall was prevented on weakness in dollar. In intraday Yen touched a high of 109.49 and closed at 109.17 against Dollar.

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Pooja Pariya

Pooja Pariya

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