USDINR
Happy Monday, USDINR is very much likely to commence session with weaker note between 76.50 -76.60 levels as greenback trading near two-year high on early asia session, continuing to draw support from Federal Reserve Chair Jerome Powell's, as well as his remarks on a likely consecutive rate hikes this year.
RBI
Almost all members of India's monetary policy committee argued in favour of action to curb inflationary pressures at their April 6-8 meeting despite continuing risks to economic growth, minutes released on Friday showed.
INDIA GDP BY UBS
UBS cut India's 2022-23 economic growth forecast by 70 basis points to 7% on Friday, citing slowing global growth due to high commodity prices, and weak local demand because of energy price hikes, inflationary pressures and a struggling labour market.
FRANCE
French President Emmanuel Macron's comfortable Sunday defeat of far-right rival Marine Le Pen, the outcome largely expected by markets and political analysts.
Macron's clear victory is likely to reassure the markets that the European dynamic will continue. In the short term, the main logical beneficiary of this election could be the euro, which was still flirting last Friday with two-year lows against the dollar.
THE OIL
On Monday Morning, Oil prices extended losses amid persistent worries that prolonged COVID-19 lockdowns in Shanghai and potential U.S. rate hikes would dent global economic growth and fuel demand.
USDINR TECHNICAL ANALYSIS
Day Trend: - BUY ON DIP.
Weekly Trend: - HOLD
INTRADAY RANGE – 76.69 ( 76.58 – 76.28 ) 76.08
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