USDINR
On Tuesday, The Domestic unit (Rupee) firm on dollar subdued, We are expecting USDINR commence session between 74.30-74.38 levels as investors turned to this week's Federal Reserve meeting for clues on the policy outlook, while cryptocurrencies pulled back sharply after an attempt to break out of a monthslong range.
Indian digital payments firm Paytm expects to launch its initial public offering (IPO) at around the end of October, pending regulatory approvals. Paytm, which has filed for a 166 billion rupee ($2.2 billion) IPO that will likely be the largest ever in India, also expects to break even in 18 months, the source said, declining to be named as the matter is not public.
The chief minister of India's Karnataka, the only state ruled by Prime Minister Narendra Modi's party in the country's prosperous south, resigned on Monday in the latest political shake-up in the Hindu nationalist group.
Day Trend: - UPSIDE SELL
INTRADAY RANGE – 74.57 ( 74.44 – 74.28 ) 74.15
THE FED
The Fed meeting is on Wednesday and the focus is on discussions around bond purchases and insight into the bank's comfort with surging inflation, with the upshot for currency markets not clear cut.
STERLING
GBPUSD trading above its 20-day moving average and near a one-week high at $1.3825 as early data seemed to show an ebb in surging COVID-19 cases in Britain in spite of the removal of many social curbs last week.
INDICES
On Tuesday, Asian Indices upside but trade cautiously, after touching year to date lows the day before, with traders keeping at least half an eye on the United States where major companies report earnings and the Federal Reserve meets on policy this week.
Comments