Free Trial
ENERGY

CHART: Rhine Water Levels

MARKET INSIGHT

Price Signal Summary - Gold Pierces Trendline Resistance

GERMAN AUCTION RESULTS

1.25% Aug-48 Bund

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

USD/INR Holding Above 78.00

INR

Spot USD/INR remains above 78.00, last tracking at 78.08, little changed for the day. The 1 month NDF remains close to 78.30, up from late NY lows of close to 78.10.

  • INR hasn't received much relief from the dip in oil prices, with Brent crude now around $6 off recent highs. Onshore equities are tracking higher, with the Sensex finding support ahead of the 52000 level.
  • Yesterday, the trade deficit printed wider than expected, to a fresh record wide of $24.3bn. This reflected a sharp rise in import growth to 62.8% YoY from 31.0% YoY in April.
  • Gold imports surged and we could see an improvement in coming months, although structurally, India's deficit remains a headwind for the rupee.
  • Locally, covid cases are rising, but from a low base, with the latest daily cases at +12k.
136 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

Spot USD/INR remains above 78.00, last tracking at 78.08, little changed for the day. The 1 month NDF remains close to 78.30, up from late NY lows of close to 78.10.

  • INR hasn't received much relief from the dip in oil prices, with Brent crude now around $6 off recent highs. Onshore equities are tracking higher, with the Sensex finding support ahead of the 52000 level.
  • Yesterday, the trade deficit printed wider than expected, to a fresh record wide of $24.3bn. This reflected a sharp rise in import growth to 62.8% YoY from 31.0% YoY in April.
  • Gold imports surged and we could see an improvement in coming months, although structurally, India's deficit remains a headwind for the rupee.
  • Locally, covid cases are rising, but from a low base, with the latest daily cases at +12k.