USDINR
Happy Monday, The Rupee is enjoying positive movement as dollar on back-foot on slew of data continued to show that the U.S. economy was slowing down in the wake of multiple hefty interest rate hikes from the Federal Reserve, with the market anticipating a pause in tightening this year.
Major Asian market on holiday
USDINR TECHNICAL
Day Trend: - UPSIDE SELL
Weekly Trend: - BUY FOR LONG TERM
INTRADAY RANGE – 81.37 (81.16 – 80.95) 80.74
THE BRAZIL & ARGENTINA
Brazil and Argentina aim for greater economic integration, including the development of a common currency, Brazilian President Luiz Inacio Lula da Silva and Argentine leader Alberto Fernandez said in a joint article they penned.
THE GOLD
Gold prices rose slightly, trading close to a nine-month high as markets awaited more U.S. data this week to gauge whether the world’s largest economy was facing a potential recession in 2023.
THE OIL
Glowing forecasts of an economically-resurgent China helped oil bulls coast to a second winning week, with analysts saying the endurance of the rally will be decided by manufacturing and growth numbers due from the No. 2 economy later this month and next.
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