USDINR
We are expecting USDINR to commence the Tuesday session with a firm note between 74.40 – 74.50 levels after finishing the last trading session at 74.2550-74.2650 levels, USDINR getting support from the greenback dollar reached its strongest level in more than a month against the Japanese yen on early Asian session, lifted by a jump in Treasury yields overnight as traders bet on an early Federal Reserve interest rate hike despite surging COVID-19 cases.
India's unemployment rate hit a four-month high in December, data from the Centre for Monitoring Indian Economy.
The unemployment rate rose to 7.9% in December from 7.0% in November, its highest since 8.3% in August.
India's Future Retail has asked a New Delhi court to declare arbitration proceedings in Singapore with Amazon.com as illegal, arguing that India's antitrust agency had suspended a 2019 deal used by Amazon to assert rights over Future.
Indian shares rose more than 1.5% in this year's first trading session on Monday as banking and auto stocks rallied despite a surge in the country's COVID-19 cases.
Day Trend: - BUY ON DIP
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