TUESDAY USDINR OUTLOOK:- USDINR IN RANGE!!

USDINR

On Tuesday Morning, The Rupee is most likely to commence session within a range between 74.60 – 74.70 levels against the greenback as the dollar and the euro both eased on Monday after European Central Bank President Christine Lagarde calmed market expectations of a quick hike in interest rates that pushed regional bond yields in Europe up to multi-year highs.

• Indian Prime Minister Narendra Modi said on Monday his government was trying to keep inflation in check and that doing so has been a priority for him since coming to power in 2014.

• India's central bank is expected to hold its repo rate steady on Thursday but several economists are expecting an increase in the reverse repo rate as part of a process to reduce surplus liquidity poured into markets earlier in the pandemic.

• Indian Indices recorded their worst session in two weeks on Monday, dragged by private-sector lenders and consumer stocks, while a slew of strong earnings from state-controlled banks helped limit more losses.

Day Trend: - BUY ON DIP

INTRADAY RANGE – 74.85(74.75 – 74.64)74.54