USDINR
On Monday, USDINR likely to commence fresh week within range 78.95 – 79.95 near historical high at 79.13/14 levels.
On Friday, The Indian rupee plunged to mark the fourth straight session of record lows, breaking below the 79-per-dollar mark, weighed down by broad strength in the greenback and as investors retreated from the domestic share markets.
India has raised its basic import duty on gold to 12.5% from 7.5%, the government said on Friday, as the world's second biggest consumer of the precious metal tries to dampen demand and bring down the trade deficit.
OIL
On Monday, Oil prices fell in early Asian trade, paring gains from the previous session as fears of global recession weighed on the market even as supply remains tight amid lower OPEC output, unrest in Libya and sanctions on Russia.
Nine refining sources surveyed by Reuters expected Saudi's flagship Arab Light crude official selling price could rise by about $2.40 a barrel from the previous month.
SHARE MARKET
On Monday, Asian share markets started cautiously as a run of soft U.S. data suggested downside risks for this week's June payrolls report, while the hubbub over possible recession was still driving a relief rally in government bonds.
USDINR TECHNICAL
Day Trend: - BUY ON DIP (Short Term)
Weekly Trend: - HOLD
INTRADAY RANGE – 79.25 (79.09 – 78.93) 78.77
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