MNI BRIEF: Treasury's Yellen: Inflation Moving To Fed's Target

MNI BRIEF: China State Planner To Increase Trade-in Support

MNI China Daily Summary: Thursday, July 25

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

LFS Employment Growth Exceeds RNS Estimates In Q2

Improvement In Industrial Confidence In Q2

US EIA:NAT GAS STORAGE +22 BCF TO 3,231 BCF JUL 19 WK

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Rupee Marginally Weaker In Early Dealing, RBI On Tap

INR

USD/INR has opened dealing ~0.1% firmer printing at 82.55/60 as broader USD/Asia trends dominate flows.

  • Ranges have been narrow in recent dealing, the pair has see-sawed around the 20-Day EMA (82.49) with little follow through.
  • The pair remains in a technical up-trend, bulls look to target a break of the 83 handle. The RBI intervened in the FX market earlier in the year when we came close to the handle. Bears look to target the low from May 4 at 81.6563.
  • On 6 June Global Investors bought $134.48mn in local equities. The NSE Nifty 50 sits a touch off its all time peak which was registered in December (18887.59), the index closed at 18726.40 yesterday.
  • The RBI's monetary policy decision crosses in around 45 minutes, the bank is expected to hold rates steady at 6.50%. Focus is likely to be on the statement and the policy stance. our bias rests with it being too early for the RBI to shift to neutral (see the full preview here).
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.