USDINR
The USDINR stuck in range of 82.60 – 82.90 levels from two week despite dollar on hawkish mode, On Tuesday we are expecting Rupee is likely to commence firm between 82.65 – 82.75 level as dollar fell from a seven-week high , tracking a slide in U.S. Treasury yields, as investors consolidated gains after the greenback's recent rise.
USDINR TECHNICAL
Day Trend: - BUY ON DIP
Weekly Trend: - UPSIDE SELL
INTRADAY RANGE – 82.97 (82.84 – 82.57) 82.16
THE DOLLAR DANCE
The dollar's decline was exacerbated by a higher-than-expected drop in U.S. durable goods of 4.5% last month, reversing a huge December boost from Boeing. These so-called durable goods orders increased 5.1% in December.
THE JAPAN
Incoming Bank of Japan Governor Kazuo Ueda “the merits of the bank's current monetary policy outweigh the costs”, stressing the need to maintain support for the Japanese economy with ultra-low interest rates.
THE STERLING
Sterling rose after British Prime Minister Rishi Sunak struck a new deal with the European Union on post-Brexit trade rules for Northern Ireland and said it would pave the way for a new chapter in London's relationship with the bloc.
THE OIL
Oil prices slid about 1% as strong U.S. economic data had investors bracing for more interest rate hikes from the U.S. Federal Reserve to fight inflation, which could slow economic growth and oil demand.
THE NATURAL GAS
The Natural gas, there are increasing signs the worst may be over longs in the game as futures of the heating fuel jumped a third straight day in a row on Monday, gaining nearly 20% in that stretch for their best winning streak since mid-December.
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