USDINR
After BJP loss Bengal election we are expecting that Rupee commence Monday session with weaker note between 74.25 / 74.35 against greenback.
Day Trend: - About to change (for Bullish).
INTRADAY RANGE – 73.85 (74.04 – 74.41) 74.76
GLOBAL OUTLOOK
On Monday, Greenback clung to a recent bounce as investors made a cautious start to a week crammed with central bank meetings and big-ticket U.S. economic data, looking for clues on the outlook for global inflation and for policymakers' response.
The index dropped 2% through April as a positive view of global recovery prospects lifted trade-exposed currencies at the dollar's expense.
U.S Treasury yields held above the 1.6% mark at the close of the previous session. Inflation concerns are back in the spotlight as U.S. economic data, including GDP and initial jobless claims, released during the previous week indicated potential inflation pressures and increased talk of a possible pullback in central bank support.
The Australian and New Zealand dollars both rose through April, but dropped on Friday when strong U.S. consumption figures boosted the U.S. currency.
In Australia, no policy changes are expected on Tuesday although traders will look to a speech by deputy Reserve Bank of Australia governor Guy Debelle on Thursday for insight into the bank's thinking around its bond purchases outlook.
Crypto currency ether hit a record high of $3,017 on Monday, extending last week's rally in the wake of a report that the European Investment Bank (EIB) could launch a digital bond sale on the ethereum block chain network.
Ether rose 2% on the Bitstamp exchange to hit the milestone early in Asia trade. It is up more than 300% for the year so far, outpacing a 95% rise in the more popular bitcoin.
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