USDINR
On Friday, USDINR is likely to commence sessions within a range between 76.25 – 76.35 levels despite greenback for the fourth time in the past five sessions, as economic data on the labour market helped firm expectations the U.S. Federal Reserve will be more aggressive in taking steps to curb inflation.
Indian Oil Corp the country's top fuel retailer will raise prices of a litre of petrol and diesel by 0.80 rupees from Friday, its third such increase this week, a notification sent to fuel dealers showed.
Morgan Stanley economist said the firm now sees 50-basis point hikes at both the Fed's May and June meetings, with 25-basis-point hikes at each meeting after through the rest of the year.
The Japanese yen fell against the U.S. dollar for the fifth session in a row, hitting its lowest since December 2015 at 122.40 with the Bank of Japan expected to keep its soft monetary policy in place, in contrast to most other central banks around the globe.
On Thursday, Norway's central bank raised its benchmark interest rate as expected, and said it now planned to hike at a faster pace than previously intended. The central bank raised its key policy interest rate from 0.5% to 0.75%
Day Trend: - BUY ON DIP (Short Term)
INTRADAY RANGE – 76.62 (76.43 – 76.24) 76.06
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