USDINR
Happy Monday, The Domestic unit (Rupee) is most likely to commence a fresh week with a positive note between 75.05-75.15 levels as the dollar edged lower end its five-week winning streak, as global risk appetite rebounded, helping reduce demand for the safe-haven currency.
Rupee main concern is regular surging oil price as well as Government Bond Yields headed north despite domestic equity indices at a record high.
Oil advanced at the open of trading in Asia after an eighth weekly gain with the market facing a global energy crunch ahead of winter. Oil demand is rebounding across the globe as nations recover from the pandemic.
India’s diesel consumption is gathering pace with the onset of annual festivals, boosting sales to about pre-virus levels in the first half of October.
Global stock markets have rallied previous week as fears about a stagflationary economy have been eased by forecast-beating corporate earnings in the United States.
Day Trend: - Trend changing (BUY to SELL)
INTRADAY RANGE – 75.41 (75.24 – 75.07) 74.90
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