USD is now at 81.70. USDINR opened at 81.66. Fwd premia – 1 year fwdpremia is at 2.25% p.a.
-Fed raised rates by 25 bps and indicated pause in June meeting.
-Fed Chairperson said that inflation is still elevated and ruled out rate cuts in near term.
-Fed Chairman also indicated that Fed will be guided by data, meaning that if inflation shows uptick, they will not hesitate to hike rates again.
-ECB is also likely to hike rates today. ECB communication is also important for new direction in FX Currency pairs.
-Crude prices declined significantly.
-US 10 Year yield declined to 3.33%. Indian G-SEC yield is also down to 7.03%.
RBI ref rate:
-USDINR is at 81.70 .Prior day’s close was 81.83.
-Indian Equity indices climb.
-Indian 10 year G-SEC yield is at 7.03%.
-USDINR 1 yr fwd premia is at 2.24%.USDINR @ 81.70, EUR/USD@ 1.1087, GBP/USD @ 1.2590, USD/JPY @ 134.49, EUR/INR @ 90.60, GBP/INR @ 102.86, JPY/INR @ 60.76.
Gold@2053, Brent Crude @ 73, Nifty @ 18127(+40), 10 Year G-SEC @ 7.03%.
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