GBP Futures: remains sidelined for the time being

CME Group’s flash data for GBP futures markets showed open interest rose by almost 8.7K contracts on Tuesday, reversing the previous drop. Volume, instead, went down by around 3.9K contracts.

GBP/USD further rangebound likely

Cable remains within a consolidative theme below the 1.2200 handle amidst erratic volume and a relentless up trend in open interest. In the near term, this pattern is likely to prevail at least until some strong catalyst turns up.

Aug 7, 2019

India Reverse Repo Rate came in at 5.15%, below expectations (5.25%)

RBI cuts rates by 35 bps, a bigger-than-expected cut (USD/INR stays below 71.00)

The Reserve Bank of India (RBI) cut its benchmark interest rate, Repo rate, by an unconventional 35 basis points on Wednesday, its fourth cut in 2019.