FRIDAY FX OUTLOOKS:- RUPEE FIRM, DOLLAR CALM, OIL UP, GOLD DOWN!!

USDINR

Happy Friday, the domestic unit (rupee) is very much likely to commence on firm note between 82.60-82.70 levels against greenback as despite dollar clung to modest gains against its major peers, bolstered by strong economic data.

USDINR TECHNICAL

Day Trend: - UPSIDE SELL

Weekly Trend: - UPSIDE SELL

INTRADAY RANGE – 82.86 (82.77 – 82.58) 82.29

THE FED

The dollar is likely to build on its recent gains in the weeks ahead as there aren't many catalysts for bears to latch onto that could sway expectations for the three more Federal Reserve rate hikes.

THE OIL

Oil prices settled up 2% on expectations of steep cuts to Russian production next month, but a stronger dollar and a sharper-than-expected jump in U.S. inventories added to demand concerns.

GOLD

On Friday, Gold prices rose slightly, but were set for a fourth consecutive week in red amid growing uncertainty over U.S. monetary policy, with markets seeking more cues from a reading on the Federal Reserve’s preferred inflation gauge later in the day.