USDINR
On Friday, The Domestic Unit(Rupee) likely to commence with weaker note against greenback between 82.00-82.10 levels as dollar index climbed to a two-week high after USA economic data showed the labour market remained on a solid footing, giving the Federal Reserve a possible cushion to continue raising interest rates.
US expects more cooperation with India in South China Sea
ICICI Bank to delist broking arm in $622 million share swap deal
India tightens disclosure norms for offshore funds
Indian banks' bad loan ratio could improve from 10-year lows, RBI says
Indian shares hit record highs; Nifty closes a notch below 19,000
USDINR TECHNICAL
Day Trend: - BUY ON DIP
Weekly Trend: - BUY
INTRADAY RANGE – 82.22 (82.12 – 82.01) 81.91
THE FX MARKET
Fed Chair Jerome Powell, at an event held by the Spanish central bank in Madrid on Thursday, indicated the central bank is likely to resume their rate hike path after a pause earlier this month.
The dollar strengthened against the Japanese yen for a third straight day, hitting a fresh 7-1/2 month high of 144.90, as U.S. and Japanese central bank policy plans are expected to remain at opposite ends of the spectrum.
Sweden's crown hit a record low of 11.8502 against the euro after the Riksbank modestly raised its policy rate and increased the pace of its bond sales.
Japan and South Korea agreed to revive a $10-billion currency swap deal, a symbolic but significant step as the countries' leaders seek to improve long-strained ties amid increasing geopolitical risks.
OIL PRICE
On Friday, Brent crude oil prices were little changed in early trading, but were set to notch their first monthly gain this year as a steep drawdown in oil stocks and OPEC+ plans to cut output outweighed demand fears stemming from rising interest rates.
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