08/07/2020

Major developments:

USD is now at 74.92. Rupee opened at 74.86. Expect 74.75-75.05 range for the day.

ECB cut EU GDP growth to -8.7% for 2020. Fed member expressed concern over rising infections as it may stall early revival signs. US ISM(non mfrg) beat estimates.

-USDINR is at 74.92. Prior day’s close was 74.93.

-Indian Equity indices trade flat.

-Indian 10 year G-SEC yield is at 5.78%.

-USDINR 1 yr fwd premia is at 3.92%.

USDINR @ 74.92, EUR/USD 1.1280, GBP/USD @ 1.2557, USD/JPY @ 107.55, EUR/INR @ 84.52, GBP/INR @ 93.08, JPY/INR @ 69.67.

Gold@1807, WTI Crude @ 40.49, Nifty @ 10808(+8), 10 Year G-SEC @ 5.78.

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