USDINR THURSDAY PROJECTION

On Thursday, USDINR expecting to start with range bound despite Greenback on demand after Powell dismiss negative interest rate scenario.

Yesterday, Domestic currency slips up to 75.5175 after firm opening at 75.30 levels against greenback. Intraday USDINR settled at 75.46/47 level.
India’s government said on Wednesday it will offer nearly $60 billion of loan guarantees for small businesses, shadow banks and power companies as part of measures to combat the economic damage caused by the novel corona-virus pandemic.
Economists said that the credit guarantees will have limited impact on the government’s budgeted spending as new loans would be largely funded by state run banks and financial institutions.

INTRADAY RANGE – 74.92 (75.24 – 75.55) 75.88

The United States and other countries are easing restrictions to allow factories and shops to open again for business, but there are significant risks of a second wave of infections and a full-fledged economic recovery is likely to remain distant until a vaccine for the corona-virus is available.
The dollar held gains after U.S. Federal Reserve Chairman Jerome Powell dismissed speculation that policymakers will adopt negative interest rates.
AUD/USD Drops to 0.6430, confirming ascending triangle breakdown, Job losses are heart-breaking.
Oil: CFTC warns of negative prices again as expiry approaches next week.
Gold Holds onto Safe-Haven Hat as Powell Warns about U.S. Economy China needs more active fiscal policy as pressure on economy increasing - People's Daily.
Market Analysts Are Getting Nervous About a Second Wave of Virus.
PBOC sets Yuan reference rate at 7.0875.