On Friday , Domestic Unit likely to commence trading with positive note between 73.75 - 73.85 levels against greenback. USDINR trying to build base near support at 73.60 - 73.80 levels , despite heavy FII inflow as well as dollar continue moving south USDINR able to hold short term support level with help of central bank slow but steady buying greenback.
India's economy is likely to have shown signs of a pick-up in the quarter to September after a record contraction the previous quarter, and is expected to recover early next year on hopes of better consumer demand fed by progress on coronavirus vaccines.
Indian police on Thursday used water cannons and tear gas shells to disperse thousands of farmers marching towards New Delhi in a protest against legislation they fear would end price support for their produce, officials said.
INTRADAY RANGE - 73.62 (73.77 - 73.92 ) 74.08
GLOBAL OUTLOOKS
Argentina's Diego Maradona, one of the world's greatest ever soccer players, was buried on Thursday amid a global outpouring of grief from the streets of Buenos Aires to Naples in Italy.
The dollar was down on Friday morning in Asia, holding steady amid small market moves. However, it looks set to see weekly losses as improved risk appetite continue to apply pressure.
The pound saw a near three-month high as well on Thursday, with investors look towards progress on Brexit talks between the U.K. and the European Union (EU). EU chief negotiator Michel Barnier is reportedly due to speak with some EU fisheries ministers later in the day to discuss the current state of the trade discussions.
European Central Bank (ECB) chief economist Philip Lane and the minutes from the ECB’s October meeting further confirmed the expected announcement of stimulus measures when the central bank meets in December.
The minutes showed policymakers in agreement that complacency is not an option as Europe continues to struggle through a second wave of COVID-19 cases and beginning to prepare for more stimulus measures.
The euro saw little change against the dollar but did reach a more than two-months high on Thursday in the wake of the minutes’ release.
Oil was mixed in early Asian morning , with continued demand optimism over imminent vaccine rollouts and concern about signs of dissent within OPEC the main drivers. Overall volume was low due to the U.S. Thanksgiving holiday.
Comentários