USDINR
Happy Monday, the domestic unit is likely to commence between ranges bound at 82.70-82.80 levels against greenback as USA market on holiday on Washington’s Birthday.
India’s foreign minister said the democratic world needed a debate on democracy, labelling billionaire investor George Soros “old, rich, opinionated and dangerous” for his comments on India that didn’t recognize its difficult path from colonization.
The Supreme Court is yet to issue an order on setting up a panel proposed to examine investor protection mechanisms in the wake of Hindenburg Research's Jan. 24 report.
USDINR TECHNICAL
Day Trend: - BUY ON DIP
Weekly Trend: - HOLD
INTRADAY RANGE – 82.98 (82.85 – 82.73) 82.60
THE DOLLAR
The dollar on the front foot on early Asian session supported by a strong run of economic data out of the United States that traders bet will keep the Federal Reserve on its monetary policy tightening path for longer than initially expected.
THE EURO
On Friday, European Central Bank (ECB) policymakers said that interest rates in the euro zone still have some way to rise, pushing up market pricing for the peak ECB rate.
ASIAN MARKET
On Monday, Asian shares got off to a subdued start as a U.S. holiday made for slow trading ahead of minutes of the last Federal Reserve meeting and a reading on core inflation that could add to the risk of interest rates heading higher for longer.
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