02/03/2020

Major developments:

USD is now at 72.22. Rupee opened at 72.07. Expect 71.95-72.30 range for the day. Indian

and Asian Equity indices are surging on hopes of immediate rate cut by Fed. In an unusal statement, Fed Chief said that Fed is ready to act appropriately, if needed, implying early rate cut.

Indian Q3 GDP slowed to 4.7%, due to contraction on capital investment and slow down in Govt consumption expenditure.

-USDINR is at 72.22. Friday’s close was 72.17.

-Indian Equity indices climb higher.

-Indian 10 year G-SEC yield is at 6.34%.

-USDINR 1 yr fwd premia is at 4%.

USDINR @ 72.22, EUR/USD 1.1053, GBP/USD @ 1.2825, USD/JPY @ 108.11, EUR/INR @ 79.82, GBP/INR @ 92.62, JPY/INR @ 66.80.

Gold@1600, WTI Crude @ 46.15, Nifty @ 11342(+138), 10 Year G-SEC @ 6.34.