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TUESDAY USDINR OUTLOOK:- USDINR NEAR RESISTANCE!!

USDINR

On Tuesday, The Rupee is likely to commence with a mild weaker note between 74.35 – 74.45 levels as the dollar edged higher against safe-haven currencies such as the yen and Swiss franc after reassuring news on the Omicron COVID-19 variant, while units like the Australian dollar that had weakened in recent weeks on growth worries also advanced.


  • U.S. Treasury yields rose and stocks gained after news that initial observations suggested Omicron patients had only mild symptoms, reversing some of Friday's heavy selloff.


  • The Reserve Bank of India will likely hold off on raising its key borrowing and lending rates on Wednesday, as it adopts a cautious tone amid the spread of the Omicron coronavirus variant.


  • India and Russia signed 28 investment pacts on Monday, including deals on steel, shipbuilding, coal and energy.


  • Indian shares closed nearly 2% lower on Monday, hurt by a selloff in information technology stocks, as increasing cases of the Omicron coronavirus variant spooked investors ahead of the central bank's decision on interest rates.


Day Trading : - HOLD (upside sell)


INTRADAY RANGE – 75.81(75.53 – 75.25)74.97

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