USDINR
USDINR struggling near historical higher levels (83.29/83.30) as dollar as well as oil price hitting higher high. We are expecting pair commence Monday session between 83.20 /83.30 levels as dollar index climbed on early Asian session on Monday, building on four straight weeks of gains, after the U.S. government avoided a shutdown and economic data again supported the view that the Federal Reserve will keep interest rates higher for a longer period of time.
USDINR TECHNICAL
Day Trend: - HOLD
Weekly Trend: - HOLD
INTRADAY RANGE – 83.44 (83.34 – 83.08) 82.95
THE USA TREASURY
Treasury yields rose, with the benchmark 10-year note hitting 4.703%, as averting a government shutdown reduced demand for U.S. debt, while the data highlighted the economy's resiliency despite the Fed's target rate in restrictive territory.
THE JAPANESE YEN
The Japanese yen weakened the greenback at 149.772, after falling to 149. 901.The yen has come under pressure against the dollar as the BOJ remains a dovish outlier among global central banks, especially since the Fed began its aggressive rate-hike cycle in March 2022. Japan's Finance Minister Shunichi Suzuki said authorities were closely watching FX moves with a "strong sense of urgency" as it neared the 150 marks, but declined to comment on whether intervention was a possibility at this point.
THE OIL PRICE
The Oil prices dipped in early Asian trade after falling to a three-week low in the previous session on a strengthening U.S. dollar and traders taking some money off the table from the last quarter's chunky gains.
AUSTRALIA CENTRAL BANK
RBA is expected to keep its key interest rate steady at 4.10% on Tuesday, according to a Reuters poll, but one more hike is on the cards with a 4.35% peak seen by the end of this year as inflation remains above target.
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