USDINR
On Tuesday, USDINR looks commence session with positive note between 81.95-82.05 levels and it seems developing short to medium term base near 81.75 – 81.85 levels as previously did.
India's powerful home minister on Monday visited a Himalayan frontier state that China claims as part of its territory to launch a 48-billion-rupee ($585 million) development scheme he said would add to the security of the unmarked border.
India's fuel consumption jumped to a record high in March, data showed on Monday, fuelled by robust economic activity in the world's third biggest oil consumer.
USDINR TECHNICAL
Day Trend: - BUY ON DIP
Weekly Trend: - BUY IN TRANCHE
INTRADAY RANGE – 82.29 (82.09 – 81.89) 81.69
THE DOLLAR GAME
The dollar firmed after Friday's solid jobs report boosted expectations for a U.S. interest rate hike in May, while the yen weakened as new Bank of Japan Governor Kazuo Ueda signaled no hurry to dial back its massive stimulus. The dollar index was last up 0.49% against a basket of currencies at 102.44 after reaching 102.81, the highest since April 3.
THE MAJOR ASIA FX
The Australian and New Zealand dollars fell after China began three days of military drills on Saturday simulating precision strikes against Taiwan, the day after Taiwan President Tsai Ing-Wen returned from a brief visit to the United States. Beijing is a key trading partner for the Antipodean countries.
THE CRYPTO
The bitcoin rose more than 3% to $39,266 and earlier reached $29,311, its highest level since March 24.
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