14/09/2020

Major developments:

USD is now at 73.32. USDINR opened at 73.40. Expect 73.25-73.45 range for the day. Indian CPI is the key data release. Indian IIP contracted -10.4% in July as compared to July 2019. Revised data showed industrial production contracted 15.7% in June and 34% in May. July IIP was 8.44% compared to June 2020. Manufacturing, mining and electricity contracted 11.1%,13% & 2.5% respectively.

-USDINR is at 73.32. Prior day’s close was 73.54.

-Indian Equity indices climb.

-Indian 10 year G-SEC yield is at 6.05%.

-USDINR 1 yr fwd premia is at 4.28%.

USDINR @ 73.32, EUR/USD 1.1850, GBP/USD @ 1.2820, USD/JPY @ 106.05, EUR/INR @ 86.89, GBP/INR @ 94, JPY/INR @ 69.26.

Gold@1955, WTI Crude @ 37.53, Nifty @ 11538(+73), 10 Year G-SEC @ 6.05.

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