USDINR
On Tuesday, We expect The Domestic Unit (Rupee) likely to commence within the range between 76.20 -76.30 levels against the greenback. Yesterday Indian rupee dropped to its lowest at 76.44/45 in nearly a month against the dollar, tracking losses in the stock market and weighed by sharp gains in global crude oil prices, while bond yields pulled back from session highs on short-covering.
The benchmark 10-year bond yield was trading down 3 basis points at 7.15%, after earlier rising to a high of 7.26%.
INDIA INFLATION
India's annual wholesale inflation rate accelerated to 14.55% in March, data showed, completing a year in the double-digit territory as firms grapple with rising input costs and pass on higher prices to consumers.
THE OIL
Oil rose as the shutdown of Libya’s biggest oil field strains an already under-supplied market, overshadowing signals that China’s drastic pandemic lockdowns are weighing on economic growth.
THE GOLD
Gold rose and trading near a one-month high, just shy of the $2,000 an ounce level, as concerns around the Russia-Ukraine conflict and rising inflationary pressures increased safe-haven bids for the precious metal.
COVID INDIA
India's tally of daily COVID-19 cases nearly doubled on Monday from the previous day to more than 2,000 for the first time in a month, government data showed, and the southern state of Kerala reported a big jump in deaths.
USDINR TECHNICAL
Day Trend: - BUY ON DIP (Short Term)
Weekly Trend: - HOLD
INTRADAY RANGE – 76.63 (76.44 – 76.14) 75.90
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