Globally,
US equity markets closed in red after the release of disappointing US consumer
confidence data. US consumer confidence released at 84.8 against the previous reading
of 91.7. US dollar index remained broadly unchanged as it seen consolidating
near 93 handle. US dollar index will take further cues from speech of FED
Chair, Powell, which is scheduled for Thursday.
On
domestic front, 10 year bond yield eased after RBI’s operation twist announcement
of INR 20,000 cr. It is noteworthy that northward journey of yield was
initiated by MPC’s meeting minutes. MPC has been clearly uncomfortable with
spike in inflation in recent months. Yesterday, USDINR pair gave away its
intra-day gains after retesting 74.50. Intra-day range seen as 74.08-74.50.
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