Last 5 days USDINR trading in tight range between 72.75 - 73.05 levels , On Tuesday session Domestics Unit most likely to commence session with mild firm note between 72.85 - 72.92 levels as greenback was down on early morning in Asia, hovering near its lowest level in a week as doubts began to creep in about a recent rally fueled by hopes of a faster U.S. economic recovery from COVID-19 than elsewhere.
Last Trading session (Monday) , At the interbank forex market, the Rupee opened higher at 72.86/87 against greenback and climbed further to 72.81/82 in early deals. Rupee hit intraday lows at 72.98/99 levels before finished at 72.96/97 against greenback.
INTRADAY RANGE - 72.67 ( 72.84 - 73.01 ) 73.18
Asian Indices rose on Tuesday after a record-setting day on Wall Street, Reflation on the back of U.S. fiscal stimulus and positive vaccine news remains the major theme for markets. Expectations have been building that inflation would pick up as governments and central banks continue massive spending and easy money policies until officials are certain that their economies will recover from the coronavirus pandemic.
Bitcoin In more volatile cryptocurrency markets, Tesla Inc said overnight it had invested around $1.5 billion in the virtual currency and expects to accept it as payment for its cars in the future. Bitcoin briefly passed $47,000 for the first time, a 20% rise, before paring gains. It was last at $45,669.
Oil also hit 13-month highs, helped by rising optimism about a return in fuel demand. There is a sense that the glut of oil supply is disappearing more rapidly than anybody thought possible. There seems to be a paradigm shift in the market.
Spot gold rose 0.43% to $1,842 an ounce as expectations of a large U.S. economic stimulus package bolstered its appeal as an inflation hedge.
Comments