We are expecting , The domestic unit (Rupee) commence Tuesday session between 72.45 - 72.55 levels despite dollar index up on early morning in Asia, holding onto small gains ahead of a week of central bank meetings, headlined by the U.S. Federal Reserve’s two-day gathering that starts later in the day.
On Last trading session , Rupee surge 32 pips against greenback despite equity market substantial selloff , At the interbank forex market, the local unit opened at 72.72 and witnessed an intra-day high of 72.3925/4025 and a low of 72.7650/72.7750 levels against greenback. Pair finished session at 72.47/48 levels.
Indian shares ended lower on Monday, as COVID-19 cases surged again and government data showed the country’s retail inflation rose to a three-month high in February.
Both indexes(NSE / BSE) fell as much as 1.90% and 1.96%, respectively, earlier in the session.
INTRADAY RANGE - 71.93 ( 72.25 - 72.67 ) 72.88
NOTE: - Importer must cover in tranches
GLOBAL OUTLOOKS
Asian indices were open higher after Wall Street's main indexes closed at record highs and investors awaited comments from the U.S. central bank's meeting later this week.
The USDJPY pair inched up 0.09% to 109.22, with the dollar little changed at 109.170 yen early in the early asian session, after hitting the 109.365-mark overnight. The BOJ will begin its own two-day policy meeting along with an extensive policy review, on Thursday.
USDJPY INTRADAY RANGE - 109.79 ( 109.35 - 108.91 ) 108.47
The EURUSD remained largely unchanged and remained below the $1.20 mark since Mar. 5 as Europe’s COVID-19 vaccine roll out runs into some snags. Germany and France are among the European countries that have suspended the AstraZeneca PLC/University of Oxford shot over concerns about potential side effects.
EURUSD INTRADAY RANGE - 1.2012 ( 1.1955 - 1.1898 ) 1.1841
GBPUSD Struggles ahead of This Week’s Central Bank News Despite lasting optimism in the UK recovery outlook, the Pound US Dollar (GBP/USD) exchange rate is struggling for direction today. Anticipation for upcoming central bank policy decisions is limiting major currency movements.
Comentarios