https://www.scribens.com/

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The USDINR pair opened sharply higher on account of strengthening dollar. The Dollar

index (DXY) reclaimed 100 mark. Further selloff in domestic equities as covid-19 cases

are rising sharply despite 21-day lockdown nationwide weighed on the local currency.

The domestic bourses ended with 2% cut. RBI today injected 250b rupees of liquidity

into the banking system through its targeted long-term repo operation. The number of

cases around the world linked to the coronavirus has crossed over 10 lakhs and

fatalities around 54,000. In India, nearly 2,500 coronavirus cases have been reported so

far. The bond yields ended higher by 16 bps to close at 6.30% on account of FPI selling.

Euro slipped after ECB’s warning of a sovereign debt crisis, whereas the GBPUSD pair

traded lower and dropped below 1.23 mark as the market mood sours. Final UK

Services PMI dropped to 34.5 points, worse than expected. US Non-Farm Payrolls

numbers are awaited by market participants.

Markets Recap

After opening higher, USDINR pair extended

its bullish leg and ended the sesssion near

high point of the day at 76.17.

Domestic indices skid by 2% on rising Covid-19

cases and Banking sector downgrade

USDINR CHART (Daily Chart)

The benchmark indices continued their downward trend, settled with over 2 % loss as

coronavirus cases showed no signs of abating. A ratings downgrade for the Banking

sector, due to the impact of Covid-19 and subsequent stressed asset concerns,

impacted the financial stocks. At close, the Sensex was down 674 points at 27591, and

the Nifty was down 170 points at 8084.

News of the day

Technical corner

IFA GLOBAL TREASURY RESEARCH ACADEMY| www.ifaglobal.net |

● Dollar Rupee Month End Forward Premium

● Market Activity ● Institutional Activity

Equity Debt Hybrid Total

April 21193 -5099 634 16728

May 7920 1187 2264 11371

June 2596 8319 2196 13111

July -12419 9433 -17 -3003

Aug -17592 11672 49 -5871

Sep 7548 -990 25 6583

Oct 12368 3670 31 16069

Nov 25231 -2358 126 22999

Dec 7338 -4617 39 2760

Jan 12123 -11119 -46 958

Feb 1820 4734 2416 8970

March -61973 -56211 -19 -118203

Total 6153 -41379 7698 -27528

* updated as on 03-April-2020

● Commodity Activity ● Rupee Counterpair data

LAST %CHANGE Open High Low Close

1642.00 0.24 USDINR 75.96 76.20 75.78 76.17

14.74 0.52 EURINR 81.95 82.51 81.93 82.18

26.95 6.20 GBPINR 93.70 94.16 93.20 93.58

100.71 0.53 CHFINR 78.41 78.51 77.69 77.94

JPYINR 70.14 70.45 69.95 70.19

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FY 2019 -

20

European stock markets slipped on Friday, erasing modest gains for the week, as more

companies flagged a hit to business from the coronavirus pandemic while oil prices

extended their previous day's gains on hopes of a global supply cut. With virus-fighting

lockdowns raising the risk of a prolonged global downturn, investors continued to seek

the safety of the US dollar and government bonds, pushing US Treasury yields near

their lowest in three weeks.

SILVER ($/ounce)

WTI CRUDE ($/brl)

DOLLAR INDEX

US NFP numbers and updates on Covid-19 will

continue to dominate the price action

INR crores

1 Year Libor

Nifty

US 10y bond yield

April 3, 2020 DAILY CURRENCY HIGHLIGHTS

India 10y bond yield

Highest OI for Call

Forward Premia

Market At Glance

76.17

USDINR future (Apr)

USDINR closing rate

ClosingKey rates

76.78

The Evening Sunshine

GOLD ($/ounce)

74.00 strike (Apr)

0.59%

6.30%

8084 (-170)

1.06%

74.00 strike (Apr)

Highest OI for Put

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