USDINR
On Wednesday, USDINR still trading above 77.00 levels which is not good for the domestic economy, We are expecting the Rupee to commence the session between 77.25 – 77.35 levels as the greenback rose early trade in Asia with modest gains as it held near a two-decade high ahead of a key reading on inflation that could provide clues on the Federal Reserve's monetary policy path.
USA MARKET
Overnight, Equities were also choppy and off their initial highs, although a drop in the yield on the benchmark U.S. 10-year note below the 3% level helped lift growth stocks and put the Nasdaq and S&P 500 on track to snap a three-day losing streak.
CRYPTO
Bitcoin last rose 2.22% to $31,627.41 after falling below the $30,000 mark for the first time since July.
AUDUSD
The price of the AUDUSD yesterday fell below the swing low from December 2021 at 0.6990, and the January 2022 swing low at 0.6966. The price closed the day at 0.6946. Today after making a new low at 0.69034 in the Asian session, the price rebounded back above the January 2022 low at 0.6986 as risk-on sentiment improved.
GBPUSD
The GBPUSD fell yesterday to the lowest level since June 29/June 30, 2021, when the low prices came in at 1.20509 and 1.20567. The low price yesterday reached 1.22602 just above that area. Traders leaned against the risk defining level and pushed the price back higher. That area will continue to be a key barometer going forward. Stay above and there is hope for further corrective probing to the upside.
THE OIL
Oil extended declines below $100 a barrel ahead of US and Chinese economic data that will gauge the health of the global economy. The American Petroleum Institute reported US crude stockpiles rose by 1.62 million barrels last week.
USDINR TECHNICAL
Day Trend: - BUY ON DIP (Short Term)
Weekly Trend: - HOLD
INTRADAY RANGE – 77.71 (77.45 – 77.18) 76.92
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