USDINR
On Friday, We are expecting The Domestic unit (Rupee) commence session with mild positive note between 73.00 – 73.10 as greenback headed for a weekly loss, as traders' initial concerns at taper talk in Federal Reserve minutes ebbed - with actual tapering seeming distant - while pandemic recovery boosted other currencies.
Day Trend: - BEARISH BUT IN OVERSOLD TERRITORY.
INTRADAY RANGE – 72.78 (72.92 – 73.15) 73.25
GBPUSD
Sterling is perched close to its highest since 2018 as high vaccination rates support a stronger-than-expected economic recovery. Analysts said retail sales figures, as well as May PMIs later on Friday might deliver a further boost.
Day Trend: - BULLISH.
INTRADAY RANGE – 1.4327 (1.4234 – 1.4141) 1.4048
T- BOND
USA 10-year Treasury yields fell to 1.6340% overnight and have range-traded between roughly 1.5% and 1.7% for two months, after jumping by more than 80 basis points in the first quarter of 2021. Fed Funds futures price the first full rate hike by January 2023.
COMMODITY FX
The Australian and New Zealand dollars, which are near multi-year highs as lofty commodity prices and strong pandemic recoveries provide support, looked to close the week broadly steady.
On Thursday AUDUSD has reversed directions and posted strong gains. In the North American session, AUD/USD is trading at 0.7776, up 0.64% on the day. In economic news, Australia releases Retail Sales for March, with expectations for a slight gain of 0.5%.
GOLD
Bullion is trading near the highest level in more than four months amid rising inflation expectations and concerns over the resurgence of coronavirus cases in some countries. Holdings in exchange-traded funds backed by the precious metal have resumed an uptrend. Gold may have also been supported after the extreme volatility in crypto currencies this week.
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