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2020-08-03 /MONDAY

The U.S. dollar ticked up in Asian Market opening trades today, clinging to its rebound late last week, but mounting concerns about a slowing U.S. economic recovery from coronavirus epidemic kept a lid on gains. But the dollar\'s decline is likely to continue. Real U.S. interest rates are declining even as the country is running a big current account deficit, a situation we had not had for a long time. U.S. bond yields have fallen to their lowest level since the market turmoil in March triggered by the pandemic, with the 10-year yield slipping to near 0.50%, undermining the yield attraction of the dollar. That reflected worries U.S. economic recovery could be undercut by a resurgence in COVID-19 cases. U.S. policy makers have so far struggled to clinch a deal to pump more money into the world\'s largest economy even as an expanded unemployment benefit, worth about $75 billion per month and accounting for nearly 5% of personal income, expired on Friday. A growing U.S. fiscal deficit to finance the stimulus prompted Fitch Ratings to revise the outlook on the United States\' triple-A rating to negative from stable. In currencies, the dollar rose 0.3% to 106.20 yen, having gained almost 1% on Friday thanks in part to month-end buying following its dive into a 4-1/2-month low of 104.195, currently trading at 105.82. The euro also shed 0.3% to $1.1744, off Friday\'s two-year high of $1.1908, while the Pound is trading flat at $1.3090.  The Indian Rupee opened weaker with a gap of almost 09 paise at 74.90/91 against its previous session’s close of 74.81/82 and is expected to trade in a range between 74.70 – 75.10 today.
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INR Rates

Symbol   Bid  ASK
USD74.63 74.64
GBP93.06361 93.07854
EUR83.86173 83.88412
JPY0.69449 0.69456
CHF78.86505 78.88172
AUD51.77829 51.80068
SGD53.51355 53.53659
CAD55.03281 55.04905
NZD48.711 48.74832
*Closing Rates on : 2020-07-03

Stock Indices

IndexPointsChange
BSE Sensex36939.6-667.29
S&P CNX Nifty10891.6-181.85
NASDAQ11046.423140.542
HangSeng24458.13-137.22
DJ IA26656.65228.33
DAX12650.51337.15
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