USDINR
Welcome to X-MAS week, We are expecting USDINR to commence Monday Session between 76.00 -76.10 levels as DXY (Dollar Index) stays firmer, keeping Friday’s bullish breakout of monthly resistance near 96.70 during Monday’s Asian session, as amid talk of interest rate hikes by central bankers and concerns about the spread of Omicron cases.
The risk of reinfection with the Omicron coronavirus variant is more than five times higher than the Delta variant and has shown no sign of being milder, a new study from England showed. The findings were released as European countries weigh further travel and social restrictions.
Oil prices fall by about 2% early Asian session on Monday as surging cases of the Omicron coronavirus variant in Europe and the United States stoked investor worries that new restrictions on businesses to combat its spread may hit fuel demand.
India's antitrust agency suspended Amazon.com's 2019 deal with Future Group on Friday, potentially denting the U.S. e-commerce giant's attempts to block the sale of Future's retail assets to an Indian market leader.
The Reserve Bank of India's plans to move towards card tokenisation is likely to hit a wide range of companies from major e-commerce firms and food delivery firms to lenders, while increasing the use of cash, said industry sources and bankers.
RBI issued guidelines in March 2020 saying that merchants will not be allowed to save card information on their websites to boost data security. It issued fresh guidelines in September 2021 giving companies until the end of the year to comply with the regulations and offering them the option to tokenise.
Day Trend: - USDINR BUYING TREND SEEMS ABOUT TO CHANGE
INTRADAY RANGE – 76.36(76.16 – 75.97)75.77
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