USDINR
Happy Monday, We are expecting USDINR likely to commence the session within a range between 75.95 -76.05 with a weaker note as Asian shares slipped in the early trading session on Monday ahead of a week thronging with central bank meetings and U.S. inflation data, while the euro eked out a gain on relief the far right did not win the first round of the French presidential elections.
INDIAN 10YR YIELDS
Indian 10 year Government bond yields last traded at 7.11%, it is surprising that the Indian central bank still maintains a dovish stance.
MR. MODI & BIDEN
President Joe Biden will meet virtually with Indian Prime Minister Narendra Modi on Monday, the White House said, at a time when the United States has made clear it does not want to see an uptick in Russian energy imports by India.
OIL PRICE
Oil prices slipped in early Asian trading, following the second straight weekly decline after world consumers announced plans to release crude from strategic stocks and as Chinese lockdowns continued.
THE FED
Markets have raced to price in the risk of ever-larger rate hikes from the Federal Reserve with futures implying rises of 50 basis points at both the May and June meetings.
USDINR TECHNICAL
Day Trend: - BUY ON DIP (Short Term)
Weekly Trend: - HOLD
INTRADAY RANGE – 76.44 (76.12 – 75.80) 75.48
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