-RBI minutes showed that members felt that real policy rate is high considering the steep decline in inflation projections. 4 out of 6 favored rate cut due to weak growth impulse and weakening Global growth. Dovish minutes imply one or two more rate cuts this Year, if inflation does not spike.
-ECB has signalled its concern on EU growth on account of BREXIT and trade protectionism.
-USDINR is at 71.18. Y’day’s close was 71.24. Expect 71.05-71.35 range for the day.
-Indian Equity indices trade flat.
-Indian 10 year G-SEC yield is at 7.38%.
-USDINR 1 yr fwd premia is at 4%.
USDINR @ 71.18, EUR/USD 1.1336, GBP/USD @ 1.3028, USD/JPY @ 110.78, EUR/INR @ 80.68, GBP/INR @ 92.73, JPY/INR @ 64.25.
Gold@1324, WTI Crude @ 56.95, Nifty @ 10787 (-2), 10 Year G-SEC @ 7.38.