Indian rupee was higher against the U.S. currency in early trading amid broad weakness on the dollar before the beginning of the 2-day Federal Reserve meeting. Foreign portfolio inflows and exporter selling continue to keep upside on the rupee intact, while momentum remains firmly in favor of the rupee, we think the move from near 71.50 to the current levels has been too quick and a correction is around the corner. Importers’ dollar bids limited gains.

1. Morning Brief Daily Forex Research Report as on 19‐Mar‐2019
Indian Rupee
 The Indian rupee little changed at 68.55 pair now at 68.57 against
68.5275 previous close.
 Pair to tip in 68.30‐68.70 range today.
 Indian rupee was higher against the U.S. currency in early trading
amid broad weakness on the dollar before the beginning of the 2‐
day Federal Reserve meeting. Foreign portfolio inflows and exporter
selling continue to keep upside on the rupee intact, while
momentum remains firmly in favor of the rupee, we think the move
from near 71.50 to the current levels has been too quick and a
correction is around the corner. Importers’ dollar bids limited gains.
Global Currency
 The dollar was on the defensive on Tuesday, weighed by growing
expectations the Federal Reserve would adopt a more accommodative
policy outlook this week and concerns about slower U.S. economic
growth. The index has lost 1.3 percent after hitting a three-month high
of 97.710 on March 7, on views the Fed will strike a dovish tone at its
two-day policy meeting due to start later on Tuesday.
 Sterling also gained, rising almost one-fifth of a percent to $1.3274. It
had seesawed overnight after the speaker of Britain's parliament said
Prime Minister Theresa May's Brexit deal could not be voted on again
unless a different proposal was submitted. Bank of England is
expected to leave its interest rate outlook unchanged.
Global Markets
 Oil prices were near 2019 highs on Tuesday, supported by supply
cuts led by producer club OPEC. U.S. sanctions against oil producers
Iran and Venezuela are also boosting prices, although traders said
the market may be capped by rising U.S. output.
 Gold prices rose for a third consecutive session on Tuesday as the
dollar weakened on expectations that the U.S. Federal Reserve will
maintain a dovish tone at its monetary policy meeting this week.

2. Global Market at one Glance
Markets Today In INR % Change
USD/INR 68.5375 68.535 ‐0.12
EUR/USD 1.13448 77.76 ‐0.12
GBP/USD 1.327 90.95 0.03
USD/JPY 111.26 0.62 ‐0.01
SEK/INR 9.2334 7.4228 ‐0.0149
DKK/INR 6.1181 11.2025 0.0325
AUD/USD 1.4077 48.68 ‐0.1
TIME USD LIBOR EURO LIBOR
1M 2.48175 ‐0.41429
3M 2.62525 ‐0.34171
6M 2.67175 ‐0.29771
1Y 2.8405 ‐0.17371
Index
Today % Change
NIFTY 11489.1 0.23
SENSEX 38208.32 0.3
BANK NIFTY 29709 0.38
SGX NIFTY 9347.5 0.33
NIKKEI 21584.5 0.62
HANG SENG 29397.8 ‐0.04
SHANGHAI 3096.6354 0.01
ASX200 6184.8 ‐0.09
DOW JONES 25914.1 0.25
S&P500 # 2832.94 0.37
NASDAQ # 7326.281 0
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5 Minutes INR=IN 8:35 AM 03/15/2019 - 12:40 PM 03/19/2019 (DEL)
Cndl, INR=IN, 11:20 AM 03/19/2019, 68.5375, 68.5425, 68.5300, 68.5425, +0.0150, (+0.02%) Price
INR
68.3
68.4
68.5
68.6
68.7
68.8
68.9
69
69.1
69.2
69.3
68.5425
08:35 10:35 12:35 14:35 16:35 10:35 12:35 14:35 16:35 10:35 12:35
March 15 2019 March 18 2019 March 19 2019
Key Events of the Day
Date Time Currency Event Forecast Previous
19‐03‐2019 15.00 GBP Average Earnings Index +Bonus (Jan) 3.2% 3.4%
19‐03‐2019 15.00 GBP Claimant Count Change (Feb) 13.1K 14.2K
19‐03‐2019 15.30 EUR German ZEW Economic Sentiment (Mar) ‐11.0 ‐13.4