USDINR
The Domestic Unit (Rupee) deliver some resilience on last trading session, we are expecting USDINR commence Thursday session with some correction between 79.70 – 79.80 levels as US Dollar Index seesaws around 108.50-60, picking up bids of late, as traders struggle for clear directions during Thursday’s Asian session.
USDINR TECHNICAL
Day Trend: - UPSIDE SELL
Weekly Trend: - HOLD
INTRADAY RANGE – 80.08 (79.90 – 79.71) 79.53
US GOVT YIELDS $ MARKET
US 10-year Treasury yields rose the most in a week while refreshing a two-month high of around 3.10% whereas the Wall Street benchmarks printed mild gains, which in turn helped S&P 500 Futures to remain mildly bid at around 4,150 at the latest.
THE BANK OF KOREA
The central bank raised its key interest rate on Thursday in a bid to keep inflation under control and prevent capital outflows as the U.S. Federal Reserve gears up for more hikes.
South Korea's central bank said that its Monetary Policy Board hiked the key rate to 2.50% from 2.25% as expected.
The Bank of Korea raises the 2022 CPI forecast to 5.2% from 4.5% in May and cut the 2022 GDP forecast to 2.6% from 2.7%.
THE OIL
Oil prices rose in early Asian trade after Saudi Arabia suggested the Organization of the Petroleum Exporting Countries could consider cutting output, though bearish economic signals from central bankers and falling equities weighed.
HAPPY TRADING
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