USDINR
Its volatile Tuesday, We are expecting USDINR commence session with a firm note between 75.75 – 75.85 levels as the greenback rose ahead of a slew of central bank meetings this week led by the Federal Reserve, with investors expecting the U.S. central bank to announce it will wrap up its bond purchases sooner than expected, as they look for clues on the timing of interest rate increases next year.
India's retail inflation accelerated in November, led by a rise in food prices, but remained within the medium-term target of the central bank, strengthening views that the bank could keep interest rates on hold at its next meeting in February.
Consumer prices increase 4.91% y/y in November vs Oct's 4.48%
Consumer food inflation up 1.87%y/y in Nov.vs 0.85% in Oct
Core inflation estimated at 6.08%-6.2% in Nov vs Oct's 6%-6.1%
On Monday, Indian shares gave up gains to end lower, weighed by shares of Reliance Industries, ahead of retail data that could provide a glimpse into the inflation picture in the country.
Day Trend: - UPSIDE BUT MARKET IN OVERBOUGHT, RBI INTERVENTION CAN GIVE CHANCE FOR - UPSIDE SELL
INTRADAY RANGE – 76.01(75.86 – 75.70)75.55
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