USDINR
On Thursday, Now seems some relief from the global front but the challenges are not over yet, We are expecting the Rupee to commence the session with a firm note between 76.25 – 76.35 levels against greenback Oil at one point fell more than 17% after OPEC member UAE said it would support boosting supply into a market in disarray because of supply disruptions and sanctions on Russia.
Persistent high oil prices prompted by Russia's invasion of Ukraine could cut a full percentage point off the growth of large oil-importing developing economies
The DXY is oscillating around 98.00 ahead of US inflation and Initial Jobless Claims. The risk-on impulse has brought a sell-off in the greenback index. Investors brace an aggressive tightening policy by the Fed.
U.S. stocks surged on Wednesday, with the tech-heavy Nasdaq jumping over 3%, rebounding from several days of declines as oil prices pulled back sharply and investors gauged developments in the Ukraine crisis.
Russia’s rating was downgraded to C by Fitch Ratings late Tuesday, with the rating agency saying that a bond default is “imminent” as a result of measures ushered in since the war in Ukraine.
Day Trend: - BUY ON DIP
INTRADAY RANGE – 76.90 (76.58 – 76.26) 75.94
Comments