USDINR
USDINR enjoying high yields and mounting Oil prices, We are expecting pair commence Tuesday session with a firm note between 75.35 – 75.45 levels as the dollar rose early Asian sessions as surging energy prices prompted investors to seek safe havens, with the greenback hitting a nearly three-year high against the yen on expectations the U.S. Federal Reserve will announce a tapering of its bond purchases next month.
Volatility in the prices of crude oil, edible oils and metal products pose concerns for India's economy, though inflation is expected to ease in the coming months.
Indian shares hit fresh peaks on Monday, with the Nifty 50 index crossing the 18,000 mark for the first time as auto stocks rallied on expectations of a sales surge during the upcoming festive season.
India's largest port operator Adani Ports and Special Economic Zone that its terminals would no longer handle the export and import of container cargoes from Iran, Pakistan and Afghanistan from Nov. 15.
Day Trend: - BUY ON DIP (Pair in Overbought territory)
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