USDINR
USDINR most likely to commence Thursday session with positive note between 73.15 – 73.25 as greenback bounce after Fed minutes, several policymakers said that a discussion about reducing the pace of asset purchases would be appropriate "at some point" if the economic recovery continue to gain momentum.
On last trading session (Wednesday) USDINR witnessed rally from intraday lows at 72.9250 to high at 73.19 as European indices fall on inflation concern, Crypto currency plunge give some room to greenback rally.
Day Trend: - BEARISH BUT IN OVERSOLD TERRITORY.
INTRADAY RANGE – 72.77 (73.00 – 73.30) 73.57
CRYPTO
On Wednesday Crypto currencies were volatile after suffering one of their biggest losses in the wake of China's decision to ban financial and payment institutions from providing digital currency services.
Bitcoin and ethereum posted their largest one-day drop since March last year, with losses in the market capitalization for the entire crypto currency sector approaching $1 trillion.
Bitcoin last traded down 3% at $35,654, having fallen to as low as $30,066, which represented a whopping 54% fall from its record high hit just over a month ago.
T- BOND
The Fed minutes lifted U.S. bond yields a tad, with the 10-year Treasuries yield at 1.671%, compared with around 1.65% just before the release of the minutes.
OIL
On Thursday, Oil prices fell after a slump in the previous session, as rising U.S. stockpiles added to concerns about a hit to demand from surging corona virus infections in Asia and possible U.S. rate hikes.
The decline in prices this week was given added impetus on Wednesday after media reports said the U.S. and Iran have made progress in talks over Tehran's nuclear programme that could result in sanctions being lifted and more supply coming to the market.
GOLD
Rising inflation expectations and a resurgence of corona virus cases in some countries has revived interest in gold as a hedge and haven asset, with a rebound seen in holdings in bullion-backed exchange-traded funds.
Gold steadied near the highest level in more than four months as investors assessed the minutes from the Federal Reserve’s meeting in April that flagged the possibility of a debate on scaling back asset purchases.
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