USDINR
Happy Monday, USDINR very much likely to commence between 82.40 – 82.50 levels as dollar rose after May's non-farm payrolls report showed employment numbers surged, while traders weighed the merits of the U.S. Federal Reserve possibly skipping a rate hike in June.
India says it hopes Beijing will allow Indian journalists to continue to work in China
India's Apollo Hospitals to sell stake in healthcare platform
BRICS meet with 'friends' seeking closer ties amid push to expand bloc
USDINR TECHNICAL
Day Trend: - BUY ON DIP
Weekly Trend: - HOLD
INTRADAY RANGE – 82.88 (82.54 – 82.32) 82.21
THE USA ECONOMY
The report showed that payrolls in the public and private sector increased by 339,000 in May, far outstripping the 190,000 forecast on average by economists polled by Reuters. May's jump followed a 253,000 rise in April.
Despite strong hiring, the unemployment rate rose to 3.7% from a 53-year low of 3.4% in April.
Fitch Ratings said the United States' "AAA" credit rating will remain on negative watch, despite the debt limit agreement, citing repeated political standoffs and last-minute suspensions of the ceiling before the deadline.
THE OIL GAME
On Monday, Oil prices jumped more than $1 a barrel after the world's top exporter Saudi Arabia pledged to cut production by another 1 million barrels per day from July, counteracting macroeconomic headwinds that have depressed markets.
THE ASIAN MARKET
On Monday, Asian shares extended a global rally on optimism the Federal Reserve would pause its rate hikes this month after a mixed U.S. jobs report, while oil jumped as Saudi Arabia pledged big output cuts in July.
Comments