USDINR
The Rupee is well below 76.00 levels, we are expecting USDINR likely to commence Thursday session between 75.70 – 75.80 levels. The Getting strength from Oil correction, Yields subdued as well as greenback on the back foot.
The US dollar index (DXY) is facing the heat of subdued performance from the US economic indicators and rising demand for risk-sensitive assets after a constructive outcome from the first face-to-face Russia-Ukraine peace talks between their respective officials in Turkey.
US President Biden will speak on Thursday; on how he'll be reducing gasoline prices An oil release would be from the Strategic Reserve. Such releases have been coordinated globally in recent months.
A significant increase in Russian oil imports by India could expose New Delhi to a "great risk" as the United States prepares to step up enforcement of sanctions against Moscow for its invasion of Ukraine, a senior U.S. administration.
On Wednesday, India's antitrust agency raided offices of tyre companies including Germany's Continental AG and India's Apollo Tyres and CEAT in a case of suspected competition law violations, four sources told Reuters.
British foreign minister Liz Truss will visit India on Thursday as part of a "wider diplomatic push" on the war in Ukraine, her office said, a trip which coincides with her Russian counterpart Sergei Lavrov travelling to the country.
Day Trend: - BUY ON DIP (Short Term)
Weekly Trend: - UPSIDE SELL (Mid Term)
INTRADAY RANGE – 76.28 (75.98 – 75.68) 75.38
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