On Friday, USDINR expected to start with firm note after yesterday closed near day high at 75.5650/75.5750 levels. USDINR getting regular bid on every dip but upside pressure still persist keep pair in range bound between 75.10 – 75.96 levels from start of this month (MAY’20).
INTRADAY RANGE – 75.10 (75.35 – 75.63) 75.88
SENTIMENT – IMPORTER BUY ON DIP
GLOBAL HIGHLIGHTS
Global funds are betting on developing Asian debt as the region takes aggressive steps to contain the pandemic and help their economies bounce back.
USD/IDR: Indonesian rupiah trims losses despite awful Indonesian Trade data.
AUD/JPY: Pullback from session highs continues after mixed China data.
PBOC keeps interest rate on 1-year MLF unchanged at 2.95%.
USD/JPY better bid near 107.40 amid talks of additional US stimulus.
Oil headed for its third week of gains as the market stabilizes on signs that top producers are scaling back crude shipments.
President Donald Trump’s increasing souring on China is sending waves of delight through gold buyers.
The Dow made an impressive comeback on Thursday, bouncing back from deep losses, led by a surge in financials.
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