USDINR
On Wednesday, The Domestic unit (Rupee) is most likely to start session between 75.40 – 75.50 levels as greenback hovering around year high on expectations the U.S. Federal Reserve will announce a tapering of its massive bond-buying program next month, and as concerns over soaring energy prices also sent investors to the safe-haven greenback.
Indian Two year Government Yields (4.48%) jumped to their highest in more than 18 months, as investors sold Government debt, reckoning that surging energy prices would fuel inflation and add to pressure on the Central bank to take action sooner than anticipated.
India's retail inflation eased to a five-month low in September, helped by softer food prices and weak consumer demand, amid rising concerns among businesses and policymakers about soaring global energy prices.
Treasury Secretary Janet Yellen and Federal Reserve Board Chairman Jerome Powell will meet with their Indian counterparts this week to address issues ranging from the economic recovery from the COVID-19 pandemic and financial regulation to climate finance.
Day Trend: - BUY ON DIP (Pair in Overbought territory)
Comments