USDINR
Happy Monday, The USDINR is likely to commence with a firm note between 75.90 – 76.00 as the dollar rose helped by robust U.S. job growth numbers for March that firmed market expectations that the Federal Reserve will increase the pace of interest rate hikes in an effort to blunt rising inflation.
BONDS
Global risk sentiment continues to deteriorate and lift the greenback as hopes for a ceasefire in Ukraine fade.
On Monday, Bond markets continued to sound the risk of a hard landing for the U.S. economy as short-term yields surged., two-year yields were up at three-year highs of 2.49% and well above the 10-year at 2.410%.
EURO
The euro failed to find any support from surging eurozone inflation, which climbed to 7.5% in March, hitting another record high and raising pressure on the European Central Bank (ECB) to rein in runaway prices even as growth slows sharply.
RUBLE
The Russian rouble has recovered to levels last reached in the days before Russia launched its invasion in February, defying predictions that the war would send it into freefall.
OIL PRICE
Oil prices extended losses as investors eyed the release of supplies from strategic reserves from consuming nations, while a truce in Yemen could ease supply disruption concerns in the Middle East.
The United Nations has brokered a two-month truce between a Saudi-led coalition and the Houthi group aligned with Iran for the first time in the seven-year conflict. Saudi oil facilities have come under attack by the Houthis during the conflict, adding to supply disruption from Russia.
USDINR TECHNICAL
Day Trend: - BUY ON DIP (Short Term)
Weekly Trend: - UPSIDE SELL (Mid Term)
INTRADAY RANGE – 76.17 (75.99 – 75.81) 75.63
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