On Monday , The Domestic Unit (Rupee) likely to start session within range of 72.95 - 73.07 against greenback, pair getting positive sentiment from domestic equity market.
Police in India's capital New Delhi will allow thousands of protesting farmers to drive through the city after this week's Republic Day military parade, despite security concerns, a senior official said on Sunday.
INTRADAY RNAGE - 72.78 ( 72.92 - 73.05 ) 73.19
Greenback held ground against riskier currencies as weak economic data from Europe and fresh worries about the coronavirus supported investor demand for safe-havens, stretching greenback selling positions.
The Federal Reserve is also due to hand out its policy decision on Wednesday, amid hopes that Fed Chairman Jerome Powell will reassure investors that $120 billion worth of monthly bond purchases won’t be reduced any time soon.
INTRADAY RANGE - 90.59 ( 90.34 - 90.09 ) 89.84
Asia Pacific stocks were mostly up on early Monday morning, but a worsening COVID-19 pandemic and prospects for U.S. stimulus measures remain challenges to global economic recovery.
Global economy is facing a tougher-than-anticipated start to 2021 thanks to numbers of new COVID-19 cases globally that show no signs of slowing down and lags in COVID-19 vaccine rollouts. Doubts are also starting to creep in on whether U.S. President Joe Biden will muster Republican support to pass his proposed $1.9 trillion stimulus package through Congress.
The number of global COVID-19 cases is fast approaching 100 million, with the number of deaths surpassing 2 million as of Jan. 25, according to Johns Hopkins University data.
Chinese President Xi Jinping will speak at the World Economic Forum’s “The Davos Agenda 2021” online event later in the day. Topics to be discussed at the event include fair economic and social systems, as well as digitization and the climate crisis.
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