USDINR
On Friday, The Domestic Currency (Rupee) very much likely to commence the session with a firm note between 77.35 – 77.45 levels against the greenback slipped across the board overnight, falling to a 2-week low, extending its pullback from a two-decade high, as most major currencies battered by the greenback's advance this year drew buyers.
THE SAFE HAVEN RUSH
Volatility on the rise in global financial markets, the dollar logged sharp declines against the Japanese yen and the Swiss franc, which tend to attract investors in times of market stress or risk. But the dollar also fared poorly against riskier currencies, including the Australian and the New Zealand dollar, as deep year-to-date losses for these currencies attracted some buyers.
THE EURO
The euro rose to a more than 1-week high against the dollar, as investors priced in the chance of an aggressive near-term tightening path by the European Central Bank.
THE CABLE
Overnight Britain's pound rose 1.2% against the dollar but remained close to the 2-year low touched last week as soaring inflation combined with a murky growth outlook capped gains.
THE OIL
On Friday, Oil prices were little changed as worries about weaker economic growth offset expectations that crude demand could rebound in China as Shanghai lifts some coronavirus lockdowns.
USDINR TECHNICAL
Day Trend: - BUY ON DIP (Short Term)
Weekly Trend: - HOLD
INTRADAY RANGE – 77.76 (77.64 – 77.41) 77.07
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