USDINR is trading at 70.20 . China has said that it cannot accept trade law changes which are bitter and harmful to its interests and vowed to retaliate, even if talks continue. US spokesman said that China has to make legal changes to
back its trade agreement deal. Market is worried over possible US tariff on the remaining USD 300 bn Chinese imports and retaliatory action by China. Chinese and Asian indices are down in Monday trade. Yuan has declined to 6.85.
USDINR is trading near key 70.30 resistance level. Strong break out above 70.30 could indicate that Rupee will be weaker with first objective of 71.50. Cover Imports on break out above 70.30.
-USDINR is at 70.20. Friday’s close was 69.91.
-Indian Equity indices trade flat.
-Indian 10 year G-SEC yield is at 7.40%.
-USDINR 1 yr fwd premia is at 4.22%.
USDINR @ 70.20, EUR/USD 1.1228, GBP/USD @ 1.3008, USD/JPY @ 109.75, EUR/INR @ 78.82, GBP/INR @ 91.31,
JPY/INR @ 63.96.
Gold@1284, WTI Crude @ 61.75, Nifty @ 11278 (+0), 10 Year G-SEC @ 7.40.