On Friday , USDINR most likely to start session with positive note between 72.63 - 72.70 levels as greenback rally again on supported by higher Treasury yields and falling stock markets.
NOTE : - Importers must cover short term exposure on every dip.
INTRADAY RANGE - 72.31 ( 72.49 - 72.71 ) 72.85
GLOBAL OUTLOOKS
U.S. 10-year yield climbed to a more than one-year peak of 1.754% overnight before easing to 1.715%, while Asian stocks followed Wall Street lower.
The Federal Open Market Committee (FOMC) pledged this week to press on with aggressive monetary stimulus, saying a near-term spike in inflation would prove temporary amid their projections for the strongest U.S economic growth in nearly 40 years.
The yen got some support against greenback from a Nikkei report on Thursday that the BOJ was expected to slightly widen an implicit band in which it allows long-term interest rates to move around its 0% target.
The Sterling maintain south side move as the Bank of England warned the outlook for Britain's recovery remained unclear, dampening some speculation the bank would signal a more confident outlook.
Australian employment sparkles February employment numbers blew past expectations, another indication that Australia’s recovery is deepening. The economy created 88.7 thousand, crushing the estimate of 30.5 thousand.
Oil prices south move, extending losses for a sixth day as a new wave of COVID-19 infections wash across Europe, spurring new lockdowns and dampening hopes for a recovery in demand for fuels anytime soon.
Asia Indices down early morning, ending the week in the red as investors remain concerned about the U.S. Federal Reserve’s dovish stance on inflation.
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