USDINR
On Wednesday, USDINR stuck in range between 74.10-74.35 from couple of days, We are expecting today opening between 74.25-74.35 levels as greenback firm a one-week peak posting its largest single daily gain in roughly two weeks, as new coronavirus outbreaks threatened to derail a global economic recovery.
Day Trend: - IN RANGE (UPSIDE PRESSURE NEAR 74.30 – 74.35).
INTRADAY RANGE – 74.05 (74.18 – 74.35) 74.45
NEW INFECTION
Fears over the spread of the highly infectious Delta variant of the virus are denting sentiment at a time markets are on.
Indonesia is grappling with record high cases, while Malaysia is set to extend a lockdown and Thailand has announced new restrictions. Spain and Portugal are imposing travel restrictions on unvaccinated British travellers, even as some states in Australia tightened movement curbs.
USDCHF
USDCHF Further increase of the bulls’ momentum may push the price to the $0.92 resistance level, in which it may increase to $0.93 and $0.94 levels. Should the bears break down the support level at $0.91 level, the support level of $0.90 and $0.89 may be tested.
EURUSD
EUR/USD has weakened today as a strengthening US Dollar limits the appeal of the Euro. At the time of writing the EUR/USD exchange rate is trending around the $1.1903 level as a slew of positive economic data from the Eurozone is not enough to bolster the single currency.
GBPUSD
GBP/USD dropped low in favor of the US Dollar as risk-on traders are discouraged by the spread of the Covid Delta variant in the UK. Since the session opened, the rate has fallen to $1.3851.
OIL PRICE
Oil up in early morning Asia after the Organization of the Petroleum Exporting Countries and allies delayed its meeting this week on production policy.
Oil prices have surged about 50% in 2021 as fuel demand rebounded in key markets such as the U.S. and China thanks to their on-going economic recovery from COVID-19.
GOLD PRICE
Gold headed for the biggest monthly drop in more than four years as the dollar strengthened, with investors weighing the outlook for monetary policy after the Federal Reserve’s hawkish shift.
Bullion has resumed a downtrend as the Fed pulled forward its expected timing and pace of interest-rate increases, and started a discussion of when to taper asset purchases.
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