Free Trial
USDCAD TECHS

Remains Vulnerable

AUDUSD TECHS

Northbound

US TSYS

Late SOFR/Eurodollar/Treasury Option Roundup

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 Bounces Off Simple 50-Day MA, NEER Still Pushing Higher Though

INR

USD/INR is slightly firmer since the open, in line with broader USD gains. The pair last near 81.57. Yesterday's low was close to the simple 50-day MA, (81.27). Still, the INR NEER (J.P. Morgan index) is back to early October levels. CNH/INR is up off recent lows (last 11.23), but still looks to be maintaining a downtrend.

  • The data calendar swings back into gear tomorrow with IP figures for September due (+2% forecast), but there will be more focus next Monday on CPI and wholesale inflation prints. A step back in both measures is expected (CPI to 6.70% y/y, from 7.41% prior).
  • Onshore equities are lower today, but the flow from offshore investors continues, last +$1.44bn for November to date, already comfortably above October's total of just over $1bn.
  • Onshore bond yields are lower, the 10yr last at 7.374%, but the simple 50 (7.334%) and 100-day (7.353%) MAs are close by, and we haven't been able to see downside traction through these support levels in recent months.
  • Reuters reports that government spending could lower for the first time in 3 years (see this link link for more details).
188 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.

USD/INR is slightly firmer since the open, in line with broader USD gains. The pair last near 81.57. Yesterday's low was close to the simple 50-day MA, (81.27). Still, the INR NEER (J.P. Morgan index) is back to early October levels. CNH/INR is up off recent lows (last 11.23), but still looks to be maintaining a downtrend.

  • The data calendar swings back into gear tomorrow with IP figures for September due (+2% forecast), but there will be more focus next Monday on CPI and wholesale inflation prints. A step back in both measures is expected (CPI to 6.70% y/y, from 7.41% prior).
  • Onshore equities are lower today, but the flow from offshore investors continues, last +$1.44bn for November to date, already comfortably above October's total of just over $1bn.
  • Onshore bond yields are lower, the 10yr last at 7.374%, but the simple 50 (7.334%) and 100-day (7.353%) MAs are close by, and we haven't been able to see downside traction through these support levels in recent months.
  • Reuters reports that government spending could lower for the first time in 3 years (see this link link for more details).