08/01/2021

Major developments:

USD is now at 73.35. USDINR opened at 73.38. Expect 73.28-73.50 range for the day.

USDINR is pulling back from sub 73 levels as Crosses dip against USD. US Bond yields are surging higher on expectation of increased US Govt fiscal stimulus. Equity indices climb further, Crude rallied and Gold dipped.

US nonfarm payroll data is the key event for the day.

-USDINR is at 73.35. Prior day’s close was 73.32.

-Indian Equity indices climb more than 1%.

-Indian 10 year G-SEC yield is at 5.89%.

-USDINR 1 yr fwd premia is at 4.44%.

USDINR @ 73.35, EUR/USD 1.2260, GBP/USD @ 1.3558, USD/JPY @ 103.85, EUR/INR @, 89.92, GBP/INR @ 99.45, JPY/INR @ 70.63.

Gold@1910, WTI Crude @ 51, Nifty @ 14265(+129), 10 Year G-SEC @ 5.89%.

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