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* RBI released its fifth bi-monthly statement for 2019-20 yesterday; maintained status quo .
* Rupee ended at 71.29 a dollar yesterday, up 24 paise against its previous close of 71.53.
* FBIL set reference rate for dollar at 71.7800 and euro at 79.5040.
* Global Funds Buy Net INR6.53b of India Stocks on Thursday: NSE; Foreigners Buy Net INR447M of India Equity Derivatives Thursday.
* Yield on 6.45% bonds maturing July 2029 at 6.61% on Dec. 5.
* US dollar wobbled on recent US-China development while waited for more cues from the economic front.
* US weekly jobless claims fell to seven month low while trade gap stood at lowest in 17 months in October.
* On the data front, US Nonfarm Payrolls is scheduled in the later part of the day.
* Euro edged higher on better data while UK's pound hovered around highs on election prospects.
* Japan’s yen headed for a weekly advance against the dollar as uncertainty over a partial U.S.-China trade deal keeps demand for the haven currency intact.
* PBOC has set the Yuan reference rate 7.0383 versus Thursday's fix at 7.0521.
After a trading flat for most of the day, the Indian currency spiked in the last hour of trading as investors started to digested the central bank's policy outcome. However rising oil prices and weakness in the equity markets capped more upside. Local unit opened at 71.53 a dollar and end the session at 71.29 against its previous close of 71.53. On the previous day, Rupee appreciated by 13 paise.
RBI in its monetary policy decided to keep its interest rates unchanged against market expectations of rate reduction for a sixth time in a row. However, the central bank maintained its accommodative stance but revised down GDP growth forecast along with revised upwards CPI inflation projections. It also hinted more room for a further policy action taking cues from macro-economic numbers. FIIs turned buyers in the capital market segment; bought shares worth Rs 653.36cr as per exchange's provisional figures yesterday. DIIs, on the other end were sellers to the tune of Rs 410.49cr for the same period. Oil prices kept their eyes towards OPEC and allied countries meeting that began yesterday. Now for the markets around the globe, US jobs report will be in focus.
For USDINR pair, 71.39 and 71.60 will be the major levels on the upside. Conversely if 71.13 level breaks, then 71.07 level will be in play.
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