USDINR
We are expecting that USDINR commence Tuesday session between 73.28 – 73.38 levels greenback edged lower as inflation jitters, exacerbated by record high prices paid in a regional U.S. manufacturing survey, benefited riskier currencies at the greenback's expense.
Day Trend: - Bearish trend intact with oversold territory.
INTRADAY RANGE – 72.84 (73.12 – 73.42) 73.64
EURUSD
EURUSD is bullish on the long-term outlook. The currency pair remains under the control of the bulls for more than a month. The price is steadily increasing as the bulls are increasing their momentum. The former resistance levels of $1.18, $1.19 and $1.20 have turned to supports. The price is testing the resistance level of $1.22.
Day Trend: - BULLISH.
INTRADAY RANGE – 1.2224 (1.2180 – 1.2136) 1.2092
GBPUSD
GBP/EUR Exchange Rate Range bound Despite Growing Confidence in UK Economy the Pound Euro exchange rate rose today as the UK further eases lockdown restrictions, allowing pubs and restaurants as well as people across the country being allowed to socialize indoors.
Day Trend: - BULLISH.
INTRADAY RANGE – 1.4248 (1.4177 – 1.4106) 1.4035
T- BOND
U.S. 10-year Treasury yield was little changed as market participants sought clues regarding the Federal Reserve's tolerance for near- and medium-term inflation.
GOLD
Gold rose to the highest in more than three months as concerns over the pace of a global recovery crept back in following a flare up in coronavirus cases in parts of Asia. Gold’s rebound puts it close to erasing this year’s declines, with recent inflows into bullion-backed exchange-traded funds signaling a boost to investor sentiment. Expectations for further increases in consumer prices could start to bolster demand for gold as a hedge.
COVID REALITY
The pandemic is wiping out “entire families” in villages in India, where more people are saying the scale of the crisis is much bigger than official numbers reveal. The World Economic Forum is canceling the annual meeting it was planning to hold this August in Singapore, while cases in Thailand have surged.
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