USD/INR opens lower amid dollar offers by foreign banks, likely for custodial clients. US February private payroll job additions slightly below expectations. Non-farm payroll data due tomorrow. Foreign banks have been instrumental in the pair falling from near 71.50 to the current levels over the last ten days. Portfolio flows in local bond and equity markets have gotten off to a good start this month, The momentum is clearly in favor of the rupee. But looking at how oversold the pair is in the immediate term.

1. Morning Brief Daily Forex Research Report as on 07‐Mar‐2019
Indian Rupee
 The Indian rupee little changed at 70.08 pair now at 70.05 against
70.28 previous close.
 Pair to tip in 69.85‐70.20 range today.
 USD/INR opens lower amid dollar offers by foreign banks, likely for
custodial clients. US February private payroll job additions slightly
below expectations. Non‐farm payroll data due tomorrow. Foreign
banks have been instrumental in the pair falling from near 71.50 to
the current levels over the last ten days. Portfolio flows in local bond
and equity markets have gotten off to a good start this month, The
momentum is clearly in favor of the rupee. But looking at how
oversold the pair is in the immediate term.
Global Currency
 The dollar was down 0.1 percent at 111.65 yen, but still not far off a
recent peak of 112.135 hit on Tuesday, its strongest since Dec. 20.
The dollar index has gained 1.1 percent over the last six trading
sessions after hitting its lowest level since early February on
Thursday last week. Traders have remained bullish on the dollar in
view of the continuing uncertainties over the United Kingdom's exit
from the European Union and U.S.‐China trade negotiations.
 The euro trod water at $1.1312 EUR= , about 1.0 percent below a
one‐month high hit on Thursday last week. Major currencies kept to
tight ranges on Thursday as traders focused their immediate
attention on the European Central Bank's (ECB) policy review, while
the Australian and Canadian dollar languished near two‐month lows.
Global Markets
 Oil edged up on Thursday amid ongoing OPEC‐led supply cuts and
U.S. sanctions against exporters Venezuela and Iran, although prices
were prevented from rising further by record U.S. crude output and
rising commercial fuel inventories.
 Gold prices steadied on Thursday as lacklustre appetite for riskier
assets offered some support to the safe‐haven metal, while firm
dollar limited gains ahead of ECB policy meeting due later in the day.

2. Global Market at one Glance
Markets Today In INR % Change
USD/INR 70.09 70.095 0.03
EUR/USD 1.13047 79.23 ‐0.08
GBP/USD 1.318 92.38 0.12
USD/JPY 111.696 0.63 0.07
SEK/INR 9.2975 7.5386 0.0005
DKK/INR 6.2566 11.2025 0.0325
AUD/USD 1.419 49.37 ‐0.11
TIME USD LIBOR EURO LIBOR
1M 2.48088 ‐0.41171
3M 2.60663 ‐0.33643
6M 2.68475 ‐0.29543
1Y 2.88363 ‐0.162
Index
Today % Change
NIFTY 11054.8 0.02
SENSEX 36694.05 0.16
BANK NIFTY 27607.35 ‐0.07
SGX NIFTY 9347.5 0.33
NIKKEI 21596.81 ‐0.60
HANG SENG 28821.02 ‐0.75
SHANGHAI 3094.6253 ‐0.24
ASX200 6263.9 0.29
DOW JONES 25673.46 ‐0.52
S&P500 # 2771.45 ‐0.65
NASDAQ # 7112.468 0
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5 Minutes INR=IN 8:35 AM 03/05/2019 - 12:40 PM 03/07/2019 (DEL)
Cndl, INR=IN, 11:20 AM 03/07/2019, 70.0800, 70.1000, 70.0800, 70.0900, -0.1900, (-0.27%) Price
INR
70
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70.3
70.4
70.5
70.6
70.7
70.8
70.9
70.0900
08:35 10:35 12:35 14:35 16:35 10:35 12:35 14:35 16:35 10:35 12:35
March 05 2019 March 06 2019 March 07 2019
Key Events of the Day
Date Time Currency Event Forecast Previous
07/03/2019 18.15 EUR Deposit Facility Rate ‐0.40% ‐0.40%
07/03/2019 18.15 EUR ECB Marginal Lending Facility 0.25% 0.25%
07/03/2019 18.15 EUR ECB Interest Rate Decision (Mar) 0.00% 0.00%