USDINR
On Thursday, USDINR is very much likely to commence between 81.45 – 81.55 levels as dollar edged higher stabilizing after overnight losses amid uncertainty from the U.S. midterm elections and ahead of key inflation data later this week.
The Rupee get some resistance after three day winning street from 82.93 to 81.2175 against greenback, yesterday rupee settled at 81.43/44 levels against greenback.
Day Trend: - BUY
Weekly Trend: - HOLD
INTRADAY RANGE – 82.08 (81.67 – 81.26) 80.85
THE USA MID TERM
The results from the U.S. midterm elections are still uncertain, with the Republicans seemingly heading towards taking control of the House of Representatives. However, the Senate race looks too close to call at this point with many of the most competitive races still undecided.
A Republican victory in one of the U.S. chambers and consequent gridlock could pose a challenge to further fiscal stimulus, and also raise the prospect of clashes over government funding deadlines and the U.S. debt ceiling.
THE EURO
ECB policymakers have made it clear that further rate hikes are on the way, after the central bank lifted interest rates by 75 basis points late last month even as growth in the Eurozone suffers.
THE OIL
Oil prices sank by roughly $3 a barrel after industry data showed that U.S. crude stockpiles rose more than expected and on concerns that a rebound in COVID-19 cases in top importer China would hurt fuel demand.
THE CRYPTO
The plunge that we have seen in the crypto space over the last two days caught up with risk sentiment today, resulting in weak stock and commodity prices.
Bitcoin was trading at $16,181 down 14.50% on the day. It was the largest one-day percentage loss since June 13.
BITCOIN $64000 TO $16000 WITHIN YEAR, WHAT A JOKE!!!!
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