USDINR THURSDAY PROJECTION

On Thursday, USDINR likely to start with mild positive note. On Wednesday domestic currency was slip due to greenback demand, intraday range was 75.56 – 75.8725. It seems from lower levels USDINR pair getting bullish sentiment.

• RBI may need to aggressively cut rates alongside fiscal stimulus – economists.

• Cyclone kills 14 in India, Bangladesh leaving trail of destruction.

• New Nepal map hardens position over land disputed with India.

• India to allow some domestic flights from May 25 - civil aviation minister.

• Citing COVID uncertainty, India's ACME Solar cancels deal to supply power at record low tariff.

INTRADAY RANGE – 75.35 (75.52 – 75.92) 76.07

SENTIMENT –

• IMPORTER BUY ON DIP

• EXPORTER GO FOR PART POSITION ON UPPER LEVELS

GLOBAL HIGHLIGHTS

• The dollar nursed broad losses on Thursday and riskier currencies held gains as investors looked to a bright recovery from the COVID-19.

• wave of dollar liquidity, which eased a global credit crunch, has left Japanese and South Korean bonds reeling in its wake.

• USD/JPY rallies on broad based USD strength in Tokyo.

• Mexican peso bounces off eight-week top amid mixed catalysts.

• Oil prices edged higher on Thursday after data showed U.S. crude inventories fell again, easing concern about a supply glut.

• AUD/USD stays depressed below 0.6600 after RBA’s Lowe.

• US Pres. Trump: China is on a massive disinformation campaign, it’s a disgrace.

• China’s second wave shows stark changes, NZ considers four-day work week.