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Retail Sales Rises By 5.7% In October


Extends losses


Services PMI 55.9

RBI toes the line, leaving INR.....>

EMERGING MARKETS: RBI toes the line, leaving INR stable
-The Reserve Bank of India cut rates further Friday, trimming the main repo and
reverse-repo rates by 25bps, alongside expectations. The RBI's decision not to
rock the boat left USD/INR broadly stable, trading either side of the 50-dma at
70.8570. Short-end INR vols sold off following the decision.
-Elsewhere, KRW outperforms although domestic news remains the quiet. Korean
markets were closed Thursday, with KRW having to play catch-up slightly.
Nonetheless, USD/KRW struck the lowest levels since Sep24, narrowing the gap
with the 100-dma support at 1189.91.
-Outside of the US payrolls report, Russian inflation data for September is also
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |