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* Corona virus death tally increases past 1100
* RBI keeps rates unchanged at 5.15 percent
Yesterday, Indian Rupee remained flat while the Dollar Index increased by 0.33 percent. In December 2019, consumer price inflation was pegged at 7.35 per cent. It kept on growing since January 2019, when it was recorded at 1.97 per cent.
U.S. Federal Reserve Chair Jerome Powell on Tuesday signaled that the central bank would hold interest rates steady for now while the risks to the U.S. economic outlook remain. Powell noted that some of the uncertainties around trade have diminished recently, but risks to the U.S. economic outlook remain, particularly from the novel coronavirus outbreak. China reported 97 new coronavirus deaths on Wednesday, a daily record, bringing the total number of people killed in the country surpassing 1100. Meanwhile, Non-farm payroll data from US came in at 225000 for Jan’20 against market expectations of 163000.
USDINR is expected to move sideways in today’s session
EURUSD decreased by 0.39 percent yesterday whereas EURINR appreciated by 0.15 percent.
According to the official report, Industrial Production in the Union fell in December by 2.1% monthly basis, and by 4.1% when compared to a year earlier. European Central Bank (ECB) President Christine Lagarde said on Tuesday that monetary policy "cannot and should not be the only game in town," arguing that fiscal and structural policies also have to play their part in upholding the effectiveness of ECB's stimulus measures.
EURINR is expected to appreciate in today’s session.
Yesterday, GBP increased against the USD by 0.07 percent while the GBPINR depreciated by 0.08 percent.
UK PM Johnson said that the kingdom would walk away without a trade agreement if the EU does not agree to a Canada-style deal, something Brussels is unwilling to offer. Meanwhile, UK Foreign Secretary Dominic Raab is working other fronts. This Monday, he said that he is confident of achieving a trade deal with the US in wave one.
GBPINR is expected to move sideways in today’s session.
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