CURRENCIES AND BONDS January 27, 2023
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CURRENCIES AND BONDS
January 27, 2023TOP GAINERS AND LOSERS % TERMS
CURRENCIES & BONDS SUMMING UP
Currency Contract Previous Open High Low Close Net Chg. % Chg.
CURRENCY Spot Closed - - - - - -
USDINR Jan-23 Closed - - - - - -
• The Indian Rupee appreciated against the U.S. dollar on Feb-23 Closed - - - - - -
Wednesday, helped by likely dollar inflows and gains in most major Closed - - - - - -
Asian peers. Spot Closed - - - - - -
• The Rupee settled at 81.5900 per U.S. dollar, compared with EURINR Jan-23 Closed - - - - - -
81.7200 in the previous session. Feb-23 Closed - - - - - -
• It was volatile session, with the local unit trading in a range of 81.50 Closed - - - - - -
to 81.76. Spot Closed - - - - - -
• The flows were probably from Adani Enterprises' follow-on public GBPINR Jan-23 Closed - - - - - -
offering (FPO) which opens on Friday. Feb-23 Closed - - - - - -
• However, gains were capped amid good demand from importers. Closed - - - - - -
• Meanwhile, the offshore Chinese yuan appreciated to 6.7750 to the Spot Closed - - - - - -
dollar and the Korean won advanced, helped by a fall in Treasury JPYINR Jan-23 Closed - - - - - -
yields and aided sentiments this Wednesday. Feb-23 Closed - - - - - -
• Indian markets were shut on Thursday on account of Republic Day
holiday. EURUSD 1.0915 1.0915 1.0929 1.0848 1.0889 -0.0026 -0.24
• In the overseas markets, the dollar index rebounded on Thursday’s GBPUSD 1.2400 1.2400 1.2430 1.2342 1.2406 0.0006 0.05
Spot
USD/JPY 129.59 129.59 130.61 129.01 130.21 0.62 0.48
trade after data showed the U.S. economy maintained a strong
Dollar Index 101.64 101.58 102.18 101.50 101.84 0.20 0.19
pace of growth in the 4th quarter, backing the case for the U.S. Fed
to maintain its hawkish stance for longer. Bonds Previous Open High Low Close Net Chg. % Chg.
• The Euro eased marginally, while the Sterling ended flat on US 2 Year 4.137 4.125 4.222 4.123 4.178 0.041 0.99
Thursday. US 10 Year 3.462 3.442 3.520 3.436 3.491 0.029 0.84
US 30 Year 3.624 3.598 3.700 3.589 3.628 0.004 0.11
BONDS India 10 Year Closed - - - - - -
Germany 10 Year 2.158 2.155 2.216 2.144 2.214 0.056 2.60
• Indian bond yields ended largely unchanged on Wednesday, as UK 10 Year 3.243 3.221 3.329 3.219 3.318 0.075 2.33
caution prevailed ahead of the budget announcement next week, Japan 10 Year 0.435 0.439 0.460 0.436 0.460 0.025 5.69
even as the central government successfully completed its first-
ever sovereign green issuance. FPI FLOWS
• The benchmark 10-year yield ended at 7.3480%, after closing at
7.3453% on Tuesday. Date Net Investment U.S. ($) million
• The government sold green bonds worth a total of 80 billion rupees 19-Jan -12.68
($981.2 million) at yields below comparable government bonds and 20-Jan 151.94
the demand for green bonds was somewhat better than expected. 23-Jan -139.56
• In the overseas markets, U.S. Treasury yields rose on Thursday after 24-Jan 25.00
data showed resilience in the U.S. economy, potentially 25-Jan 113.95
strengthening the case for the Federal Reserve to maintain its
Total for January -1305.10
hawkish posture in coming months as it seeks to cool inflation.
Total for 2022 -18082.72
Total for 2023 -1305.10GOING FORWARD USDINR 1-YEAR (BLUE) AND 6-MONTH (GREEN) IMPLIED YEILDS (DAILY)
CURRENCY
• The Indian Rupee could start on a marginally stronger note
tracking NDF rates and a struggling dollar index this Friday
morning.
• Gains in the equity markets could also aid sentiments.
• However slightly weaker Asian & EM peers, good demand
from importers and RBI’s presence will cap gains.
• So, the Rupee opened at 81.5000 to 81.5200 per dollar this
Friday morning vs. a close 81.5900 on Wednesday.
• Supports for the USDINR spot pair are at 81.28 and 81.06,
resistances are at 81.74 and 81.89 and the pair could
remain within the levels.
• At the same time, It could be a quiet session this Friday
ahead of key events next week.
• Union budget, along with Fed meeting and OPEC meeting
ate scheduled next week.
• In the overseas markets, the U.S. Dollar started marginally
weaker this Friday morning in Asian ahead of the of Fed US 2 & 10-YEAR YIELD CURVE (BLUE) US 5 & 30-YEAR YIELD CURVE (GREEN) DAILY
favoured PCE price index.
• The Euro and the Pound Sterling started weaker, while the
Yen struggled gained against the dollar early Friday morning
trade.
BONDS
• Indian bond yields are expected to open higher in the early
session on Friday, as the market awaited a fresh supply of
debt via a weekly auction later in the day, the third
consecutive trading day of bond sale.
• The benchmark 10-year yield could move in a range of
7.320% to 7.370%.
• U.S Treasury Yields started marginally higher this early
Friday morning in Asian trade supported by aggressive rate
hikes by the U.S. Fed.
• Investors will look to inflation data tonight for further cues.
• The benchmark 10-year yield could move in a range of
3.445% to 3.530%.ASIAN AND EM PEERS (red indicates weakness and green signifies strength)
Currency Previous Open High Low Close Net Chg. % Chg.
Offshore Chinese Yuan 6.770 6.771 6.775 6.724 6.735 -0.036 -0.53
Indonesian Rupiah 14960 14940 14985 14900 14945 -15.00 -0.10
Thailand Baht 32.750 32.760 32.860 32.590 32.810 0.060 0.18
Malaysian Ringgit 4.259 4.255 4.255 4.241 4.243 -0.016 -0.38
Singapore Dollar 1.313 1.313 1.314 1.310 1.312 -0.001 -0.08
Taiwanese Dollar 30.252 30.244 30.298 30.171 30.205 -0.047 -0.16
South African Rand 17.101 17.104 17.252 17.007 17.183 0.083 0.48
Turkish Lira 18.775 18.792 18.822 18.623 18.796 0.021 0.11
Brazilian Real 5.073 5.073 5.119 5.058 5.066 -0.008 -0.15
GLOBAL EQUITIES
Indices Previous Open High Low Close Net Chg. % Chg.
Nasdaq 100 11814.69 11972.57 12055.81 11853.37 12051.48 236.79 2.00
Bovespa 114270.07 114271.19 114835.35 113591.04 114177.55 -92.52 -0.08
DAX 15081.64 15146.29 15151.54 15068.72 15132.85 51.21 0.34
FTSE 100 7744.87 7744.87 7787.57 7744.87 7761.11 16.24 0.21
CAC 40 7043.88 7095.11 7117.53 7078.02 7095.99 52.11 0.74
Shanghai SE Composite Closed - - - - - -
Shenzhen SE Composite Closed - - - - - -
Hang Seng 22044.65 22386.37 22566.78 22329.07 22566.78 522.13 2.37
Taiwan Weighted Closed - - - - - -
Nifty 50 Closed - - - - - -
BSE Sensex Closed - - - - - -Top
Date Time (IST) Country Relevance Indicator Period Reuters Poll Prior
Things 18:30 India FX Reserves, USD
Personal Income MM
20 Jan, w/e
0.2%
572.00B
0.4%
to Watch 19:00
Consumption, Adjusted MM
Core PCE Price Index MM
Dec
-0.1%
0.3%
0.1%
0.2%
in the 27-Jan
United States
High Core PCE Price Index YY
PCE Price Index MM
PCE Price Index YY
4.4% 4.7%
0.1%
5.5%
Market 20:30
20:30
University of Michigan Consumer Sentiment Final
Pending Sales Change MM
Jan
Dec
64.6
-0.9%
64.6
-4.0%
Today
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