USDINR likely to start between with weaker note as greenback was down in Asia, giving up gains from Tuesday and adding to investor interest in the yellow metal as well as dented from crumbling U.S. yields, as the latest coronavirus relief package got bogged down in Congress and investors braced for a bumpy ride to economic repair.
Yesterday , USDINR was under-pressure on upper levels at 75.15 - 75.18 levels , intraday range was 75.18 - 74.9850 before finished at 75.04 / 05 levels.
India's top private-sector lender HDFC Bank Ltd has received the approval to name insider Sashidhar Jagdishan its chief executive officer, the bank said on Tuesday, as it steers itself through the coronavirus downturn.
INTRADAY RANGE - 74.76 ( 74.92 - 75.18 ) 75.31
GLOBAL HIGHLIGHTS
The price of gold continues to be supported by ongoing weakness in the dollar as well as light at the end of the tunnel of negotiations for a new COVID-related aid package in the U.S. Gold was up on Wednesday morning in Asia, continuing to set record highs after breaking past the $2,000 per ounce mark. Gold futures were up by 0.63% to $2,0121.
The euro last sat at $1.1808, after twice testing support around $1.17, as focus turns to U.S. private jobs data due later in the day and the Washington stalemate.
The dollar has been sliding since March, as central bank liquidity measures and calmer markets have eased demand for the world's reserve currency.
The yield on inflation-protected 10-year U.S. debt is at a record low of -1.05% and nominal 10-year yields sit near their lowest since the height of the March panic, at 0.5118%.
Oil climbed to the highest level in nearly two weeks after an explosion at Lebanon’s main port rocked the capital Beirut, stoking fears over instability in the region.
U.S. Trade Representative Robert Lighthizer and Chinese Vice Premier Liu He, would take place on or around Aug. 15, six months after the agreement took effect, as directed in the text of the accord, the people said.
IMPORTANT ECONOMIC DATA
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