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FOREX MARKET NEWS UPDATE-07 JUNE 2016

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USD-INR:
The Indian Rupee appreciated marginally by 0.05 percent on Friday’s trading session on the back of rise in risk appetite in the domestic markets and continued FII inflows. FII’s net bought stocks worth Rs 1585.01 crores on Friday as per provisional data from NSE. Benchmark stock index 50 share Nifty Index increased by 0.02 percent to 8220.8. Further, exporters were seen selling dollars. However, sharp gain was prevented as Investors remained cautious ahead of economic data from U.S. In Intraday Indian Rupee touched a high of 67.1575 and closed at 67.26 against Dollar.

EUR-INR:
Euro appreciated by 1.92 percent on Friday’s trading session on the back of weak dollar. Dollar showed weakness after downbeat economic data from U.S. Weakest job growth faded trader’s expectation of early rate hike by US Federal Reserve. However, further gain was capped as European Central Bank President Mario Draghi warned that inflation is likely to remain low for some time. In intraday Euro touched a high of 1.1377 and closed at 1.1367 against Dollar.

GBP-INR:
Pound appreciated by 0.78 percent on Friday’s trading session on the back of weakness in dollar and upbeat services PMI data. UK Services PMI increased to 53.5 in May from 52.3 in April. However, sharp gain was capped as polls showed that support for leaving EU is rising adding to uncertainty over referendum. OECD cuts UK growth forecast and warned on Britain exit from EU. In intraday Pound touched a high of 1.4582 and closed at 1.4520 against Dollar.

JPY-INR:
Japanese Yen appreciated by 2.14 percent on Friday’s trading session on the back of weakness in dollar. Dollar plunges as weakest job growth faded trader’s expectation of early rate hike by US Federal Reserve. Further, Japanese Prime Minister Abe announced a delay in a sales tax increase of 2-1/2 years. Delay in sales tax hike for longer term raised concern about lack of Japanese monetary stimulus. Demand for safe haven increased on rise in risk aversion in the domestic markets. In intraday Yen touched a high of 106.48 and closed at 106.53 against Dollar.

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Alisha Singh

Alisha Singh

1 comment:

  1. Very useful updates on I-forex i learned here. These market updates helps a lot in forming a better trading decision. For any assistance in share market follow epic research. We offer live updates free on social media.

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