USDINR
On Wednesday, The Rupee most likely commences the session with a firm note against the greenback as the dollar fell as reports of progress in peace talks between Russia and Ukraine lifted the euro and reduced the safe-haven appeal of the greenback.
Russia said in talks in Istanbul on Tuesday that it would scale down military operations around Ukraine's capital and north, while Kyiv proposed adopting neutral status, in confidence-building steps that were the first signs of progress towards negotiating peace.
Oil prices ended 2% lower as talks progressed between Russia and Ukraine to end their weeks-long conflict, though Moscow negotiators said a promise to scale down some military operations did not represent a ceasefire.
Gold bulls’ aims of staying above $1,900 an ounce — let alone returning to $2,000 highs — are being severely challenged as peace talks over Ukraine go through their twists and turns.
Benchmark 10-year U.S Treasuries retreated to 2.391% while the equivalent 2-year yields were at 2.367%. More than 200 basis points of U.S. interest rate rises are also now priced in for 2022 which, if realised, would be the most in a calendar year since 1994.
Russian Foreign Minister Sergei Lavrov is set to fly to India this week, sources said, finding time to visit one of the biggest buyers of Russian commodities since the international community began isolating Moscow for its invasion of Ukraine.
Day Trend: - BUY ON DIP (Short Term)
Weekly Trend: - UPSIDE SELL (Mid Term)
INTRADAY RANGE – 76.24 (75.99 – 75.74) 75.49
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