Shares in Asia-Pacific were trading higher in the morning session as investors awaited the release of China’s trade data for June
The Indian rupee opened 9 paise higher at 74.48 a dollar on July 13 against its previous close of 74.57 as the greenback softened against its global peers ahead of the release of US inflation data.
Strong gains in domestic equities also influenced the rupee’s movement against the dollar. The benchmark Sensex jumped more than 30 points, while the Nifty hovered near 15,800 in early trade, tracking positive global cues.
The Nasdaq and the S&P 500 hit record highs on July 12 as the second-quarter earnings season began while investors awaited US inflation prints and other sets of data to gauge the next leg of the equity market.
Shares in Asia-Pacific were trading higher on July 13 morning as investors awaited the release of China’s trade data for June.
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However, gains of rupee were capped as crude oil prices climbed once again. Crude saw a mild uptick amid expectations of further declines in US inventories. Brent Crude climbed about 0.3 percent.
“The USD-INR pair is struggling marginally below its sizeable Call base of 75. Looking at the Call open interest addition, we feel a move towards 74.5 is due,” brokerage firm ICICI Direct said.
“The dollar-rupee July contract on the NSE was at 74.75 in the last session. The open interest remained flat for the July series,” the brokerage firm said.
