USDINR
On Tuesday, USDINR likely to commence between 82.50 – 82.60 levels despite dollar fell on news that the U.S. services sector barely grew in May as new orders slowed, ending an initial rally sparked by strong jobs growth.
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USDINR TECHNICAL
Day Trend: - HOLD
Weekly Trend: - HOLD
INTRADAY RANGE – 83.00 (82.76 – 82.52) 82.28
THE USA INTEREST RATE
According to the CME Group's Fed-Watch tool, The U.S. central bank is viewed as most likely to leave rates unchanged in June, but fed funds futures traders are pricing in a 65% likelihood of at least an additional 25 basis points rate hike by July.
THE OIL
On Tuesday, The Oil prices edged lower, giving up most of the prior session's gains that followed an announcement by the world's top exporter, Saudi Arabia, that it would further cut output.
THE EUROPE
ECB President Christine Lagarde acknowledged "signs of moderation" in core inflation in the euro zone but reaffirmed it was too early to call a peak in that key gauge of price growth, increasing expectations for more interest rate increases from the ECB this month and the next.
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