USDINR
On Thursday, The Domestic Unit (Rupee) moving southward likely to commence session between 74.25 – 74.35 levels as the dollar surged on one-year high, world’s largest reserve currency, seen as a safe-haven bet at times of market stress, has strengthened in recent days as investors instead focused on fears of a global slowdown, a rise in energy prices and higher U.S. Treasury yields.
On Wednesday, Indian bonds rose while the rupee weakened to its lowest level in a month, as expectations the U.S. Federal Reserve would soon start to unwind bond purchases gained momentum again and lifted the dollar. Indian shares fell, skidding further away from last week's record highs amid losses in private banking stocks, with growing economic uncertainty and U.S. inflation worries weighing on global sentiment.
OIL
Oil demand globally is recovering from the summer Delta variant spike faster than some observers had expected.
Many analysts and oil companies see global oil demand returning to the pre-crisis levels of 2019 as early as the start of next year, if not earlier, by the end of 2021
Analysts and members of OPEC expect the gas crisis to boost oil demand by up to 1 million BPD this winter.
GLOBAL
China Non-Manufacturing PMI above forecasts (52.7) in September: Actual (53.2)
Chinese Factory activity contracts first time since Feb 2020, AUD steady
China NBS Manufacturing PMI below forecasts (50.1) in September: Actual (49.6)
Reuters Poll: 'Natural' for global bond yields to rise from here
US Treasury yields near 15-week top amid anxious markets
Overbought RSI probes DXY bulls at yearly high
Day Trend: - BUY ON DIP (USDINR entered overbought zone)
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