Pre-Trading Thoughts

Net foreign assets (NFAs) of the banking system declined from USD-19.4 billion in July to USD-20.09 billion in August (net foreign liabilities (NFLs)) position. We assume those movements are related to the CA deficit. We expect urban annual inflation to increase to 14.9% YoY (1.4% MoM) on continued increase in some Items including food items and tobacco. The IMF will release its latest World economic outlook on Wednesday, and will hold their annual meetings in Washington, DC, next week,...