Major developments:

USD is now at 73.46. USDINR opened at 73.44. Expect 73.32-73.55 range for the day.

Euro is down to 1.2170 against USD. Crosses are declining due to US yield rally. Increased fiscal stimulus is behind the recent developments in Crosses, bonds and Gold. Focus is on Indian CPI, IIP and US retail sales.

-USDINR is at 73.46. Prior day’s close was 73.24.

-Indian Equity indices climb.

-Indian 10 year G-SEC yield is at 5.93%.

-USDINR 1 yr fwd premia is at 4.59%.

USDINR @ 73.46, EUR/USD 1.2174, GBP/USD @ 1.3497, USD/JPY @ 104.20, EUR/INR @ 89.43, GBP/INR @ 99.17, JPY/INR @ 70.75.

Gold@1833, WTI Crude @ 51.92, Nifty @ 14437(+90), 10 Year G-SEC @ 5.93%.

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