TUESDAY : - USDINR FIRM , DOLLAR IN RANGE , USA - CHINA CONFLICT !!

We are expecting , Domestic unit (Rupee) likely to will commence trading with weaker note against greenback as outflow from local equity market as well as Government 10 Year yields trading in tight range between 5.80% - 5.90%.

• On Monday , Rupee depreciated by 24 pips to settle at around four-week low of 73.85/86 against greenback as muted domestic equities ahead of USA presidential election. The local unit opened at 73.78 at the interbank forex market and lost lost further ground to hit a low of 73.8950 in the day trade.

India's Future Retail Ltd (FRL) will go into liquidation if its deal to sell assets to Reliance Industries fails, the group told a Singapore arbitrator while arguing against Amazon.com Inc's bid to scupper the deal, a legal order seen by Reuters showed.

India will be the major driver of global energy demand in the years to come, but will hold down carbon emissions even as its power consumption soars, Prime Minister Narendra Modi said on Monday.

INTRADAY RANGE - 73.62 ( 73.78 - 74.07 ) 73.33

GLOBAL OUTLOOKS

The dollar is subdued in early Asian session, giving up earlier gains. Tensions between the U.S. and China are rising and concerns, and continuing worries over the second wave of COVID-19 drove the steepest stocks selloff in a month and a bond rally.

• On the COVID-19 front, the U.S., Russia and France all set new records for the number of daily COVID-19 cases. There are over 43.4 million cases globally as of Oct. 27, according to Johns Hopkins University data.

• U.S.-China tensions mounted over a potential $2.4 billion sale of U.S. anti-ship missiles to Taiwan, potentially encompassing as many as 100 Harpoon Coastal Defense Systems built by Boeing. The systems in turn include up to 400 land-based missiles China reacted to the news by slapping sanctions on U.S. companies, including Lockheed Martin, Boeing Defense and Raytheon “in order to uphold national interests,” Chinese Foreign Ministry spokesman Zhao Lijian said on Monday.

Investors are already starting to bet on a Biden victory, with positioning data showing long bets on the safe-haven yen shrinking for a fourth consecutive week. But a fall in short bets against the yen pointed to increased uncertainty about the election’s outcome.

The optimism on progress this week had been tempered somewhat following reports the U.K. is waiting until after the U.S. election to reveal its negotiation strategy as a Joe Biden victory could weaken Britain’s negotiation stance. Biden had previously stressed that a U.K.-U.S. deal would depend on Britain securing a deal with the EU.

Describing themselves as "human beings, not dust", thousands of Thai protesters demanding reforms of the monarchy marched to the German embassy in Bangkok on Monday to put pressure on King Maha Vajiralongkorn, who spends much of his time in Germany.