On Thunder Friday fresh topic of clash between USA – CHINA keep dollar on demand globally. We are expecting that USDINR pair start with negative note. Last trading session pair was sold on upper levels.
Market closely waiting for RBI Governor press conference.
The most powerful cyclone to strike eastern India and Bangladesh in over a decade killed at least 82 people.
Indian oil-to-telecoms conglomerate Reliance Industries said on Friday U.S. private equity firm KKR will buy 2.32% of its digital unit Jio Platforms for 113.67 billion rupees.
Indian pharmaceutical company Strides Pharma Science Ltd on Thursday received regulatory approval to start clinical trials of antiviral drug favipiravir, which has been touted as a potential treatment for COVID-19.
INTRADAY RANGE – 75.22 (75.48 – 75.88) 76.16
GLOBAL HIGHLIGHTS
The dollar held gains against major currencies on Friday as worries about renewed diplomatic tensions between the United States and China.
Oil headed for a fourth week weekly gain as production cuts and a nascent recovery in demand kept chipping away at the supply glut.
British Prime Minister Boris Johnson has instructed civil servants to make plans to end UK's reliance on China for vital medical supplies and other strategic imports.
Asian shares were set for another retreat as U.S.-China tensions curbed investor risk appetite.
China omitted a 2020 economic growth target for the first time and pledged government support for the economy.
China said that it will not set a numerical target for economic growth in 2020, deviating from years of precedence.
New Zealand is considering distributing free cash directly to individuals as a way of policy stimulus to help boost the economy.
Japan's core consumer prices fell for the first time in more than three years in April on an annual basis.
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