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* Modern Land defaulted on a bond payment, the latest Chinese property developer to do so, adding to worries about the wider impact of the debt crisis at behemoth China Evergrande Group and weighing on shares in the sector.

* Oil fell after industry data showed crude oil stock piles rose more than expected and fuel inventories unexpectedly increased last week in the US.

* Gold holds drop on broader marker optimism ahead of ECB meeting.

* Dollar index climbed erasing earlier losses as US equities came off a session high.

* A two-year US treasury auction saw strong demand while short end yields ticked higher for the day as the curve flattened.

OUTLOOK - USDINR

Inability to push past 75.15 suggest that we may have moved into a consolidation band before attempting the 75.25-75.48 move again. As long as 75.07 holds upsides, expect USDINR to slip in to the 74.8-74.7 vicinity, as suggested yesterday as well. A major collapse is still not on cards, though.

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