#USDINR likely to start slightly weaker note as dollar was up in early Thursday Asian trade, reversing earlier losses as investors turn towards the safe-haven asset. On Wednesday , #USDINR showed again surprising selloff after well positioned, Intraday Range was 75.3825 - 73.1375 levels.
#India posted a trade surplus of $790 million in June, its first in over 18 years, with imports plunging as the #coronavirus pandemic depressed domestic demand for #crude oil, #gold and other industrial products, reflecting a slowing economy.
Alphabet's #Google will buy a 7.7% stake for $4.5 billion in #Jio Platforms, taking a seat on its board alongside another big name backer Facebook to help the digital arm of #Reliance Industries realise its lofty ambitions.
The European Union (#EU) seeks an "ambitious" free trade deal with India though "there is still a way to go", European Commission President Ursula von der Leyen said on Wednesday.
INTRADAY RANGE - 74.78 ( 75.01 - 75.27 ) 75.51
Every 25 - 30 pips selloff must be covered by importers for short to Mid term liabilities
GLOBAL HIGHLIGHT
#China world's second-largest economy grew 3.2% in the second-quarter from a year earlier, the National Bureau of Statistics said. The growth was faster than the 2.5% forecast by analysts in a Reuters poll, and followed a steep 6.8% slump in the first quarter, the first such contraction since at least 1992 when quarterly gross domestic product (#GDP) records began. China's #economy returned to growth in the second-quarter after a deep slump at the start of the year, data showed on Thursday.
#AUDUSD pair lost 0.23% to 0.6990. Australia’s economy is heading into a recession as the number of cases climb and some parts of the country re-impose lock downs.
#GBPUSD pair was down 0.19% to 1.2556. Tensions between the U.K. and China are also rising over the U.K. directive to purge #Huawei equipment from the country’s telecommunication network by 2027.
A U.S. judge on Wednesday confirmed a 643 million euro ($734 million) arbitration award favoring a unit of #WarrenBuffett's Berkshire Hathaway Inc that claimed it was fraudulently induced to buy an ailing #German pipemaker that inflated sales to look profitable.
President Donald Trump has not ruled out additional sanctions on top Chinese officials as a result of actions he took on Tuesday to punish China for its handling of Hong Kong, a White House National Security Council spokesman said on Wednesday.
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