USDINR
Everyday USDINR creating new higher level of all time. On Friday , The Rupee is most likely to commence session within 78.95 – 79.95 levels against greenback that rally remains largely intact, given rising worries about a global recession, but today, we saw the dollar gave back some ground after today's data did nothing to allay concerns about the U.S. economy lurching towards a recession over the coming year.
India's federal fiscal deficit between April and May touched 2.04 trillion rupees ($25.84 billion), or 12.3% of the year-to-March budgeted target.
In first two months of the current fiscal year, net tax receipts were 3.08 trillion rupees while total expenditure was 5.86 trillion rupees, the data showed.
USDJPY
The dollar also traded just below a fresh 24-year peak of 137 Japanese yen touched on Wednesday. The gap between a hawkish Federal Reserve and a dovish Bank of Japan continues to weigh heavily on the Japanese currency, which was last trading at 135.56 yen per dollar.
THE CRYPTO
Bitcoin dipped back below the $20,000 milestone level on persistent market ructions. It was also hurt by the U.S. Securities and Exchange Commission rejecting a proposal to list a spot Bitcoin exchange-traded fund by digital asset manager Grayscale. Bitcoin last fell 6.28% to $18,922.55.
THE OIL
On Thursday, the OPEC+ group of producers, including Russia, agreed to stick to its output strategy after two days of meetings. However, the producer club avoided discussing policy from September onwards. Prices fell around 3% on Thursday.
USDINR TECHNICAL
Day Trend: - BUY ON DIP (Short Term)
Weekly Trend: - HOLD
INTRADAY RANGE – 79.27 (79.05 – 78.88) 78.79
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