USDINR
USDINR maintaining bullish momentum as inflation fear mounting, We are expecting that Indian rupee likely to commence Tuesday session within a range between 74.85 -74.95 level as greenback trading near multi-month highs against the riskier Australian dollar and British pound on early Asian session, as fears grow that a rampant coronavirus variant could upend the global economic recovery.
On Monday, Indian shares fell more than 1% on their worst day in over two months, dragged down by HDFC Bank-led banking stocks, while a surge in worldwide coronavirus cases hurt global stocks and further dented sentiment.
The Adani Group will offer a 50% discount on charges to liquefied natural gas (LNG)-fuelled ships at Mundra, India's largest commercial port, according to a notice seen by Reuters, as the country seeks to cut emissions under its green ports plan.
Day Trend: - BUY ON DIP.
INTRADAY RANGE – 75.21 (75.00 – 74.78) 74.57
VIETNAM CURRENCY
Vietnam has pledged not to deliberately weaken its dong currency to gain an export advantage, reaching an agreement with the U.S. Treasury to refrain from "competitive devaluation" and make its monetary and exchange rate policies more transparent.
The agreement, announced in a joint statement by Treasury Secretary Janet Yellen and State Bank of Vietnam Governor Nguyen Thi Hong after a virtual meeting on Monday, follows months of U.S. pressure on Vietnam over its currency practices and ballooning U.S. trade surplus.
OIL FALL
In the last trading session, Oil prices fall by $5 a barrel, closing out its worst day since March, after an OPEC+ agreement to boost output stoked fears of a surplus just as rising COVID-19 infections once again threaten demand.
INDICES
On Tuesday, Asian Indices were mostly down, continuing their losses from a day earlier.
Japan’s Nikkei 225 was down 0.36%.
South Korea’s KOSPI was down 0.39%.
Australia, the ASX 200 edged down 0.11%.
Hong Kong’s Hang Seng Index was down 0.58%.
China’s Shanghai Composite fell 0.56%.
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