USDINR
On Tuesday, USDINR most likely commence session between 74.18 – 74.28 levels as Safe-haven currencies such as the yen held firm against riskier currencies as disappointing economic data from China, the spreading Delta variant of the coronavirus and political tension in Afghanistan weighed on risk appetite.
Indian shares extended their record-high closing streak to a third day on Monday, driven by a Tata Steel-led rally in metal stocks, and as Reliance Industries rose after a report said it was in advanced talks to sell stake in the company.
On Monday, Indian Government data for India's annual wholesale price inflation eased to 11.16% in July Vs. June 12.07%, helped by lower increases in the cost of fuel and food items.
• Food prices rose 4.46% in July on the year compared to 6.66% in the previous month while prices of fuel items were up 26.02% year-on-year compared to 32.83% in June, the data showed.
Day Trend: - BUY ON DIP
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