WEDNESDAY GLOBAL OUTLOOKS:- USDINR FIRM, YIELD UP, 🇷🇺 EASE FX CONTROL!!

USDINR

After yesterday's last hour session USDINR got sharper momentum as the domestic share market fell suddenly in the last hour of trade on Tuesday, We are expecting that pair to commence Wednesday session with a weaker note between 76.40 -76.50 levels as the greenback surged to a 20-year high against the Japanese yen, underpinned by the divergence in monetary policy between a Federal Reserve determined to keep a lid on soaring inflation and a Bank of Japan that has kept interest rates ultra-low.

JAPAN

Japanese Finance Minister Shunichi Suzuki said on Tuesday the damage to the economy from a weakening yen at present is greater than the benefits accruing to it, making the most explicit warning yet against the currency's recent slump versus the dollar.

• The yen's fall has worsened imported inflationary pressures in Japan amid a spike in global commodity and oil costs, and an increase in supply snags, which have intensified in the wake of the Ukraine crisis.

USA BOND YIELDS

U.S. yields. U.S. benchmark 10-year Treasury yields hit 2.93%, the highest since December 2018, while U.S. 10-year inflation-linked bond yields rose to -0.01%, on the cusp of turning positive for the first time in two years.

THE RUSSIAN ECONOMY

The Russian central bank said on Tuesday it had decided to ease forex currency control measures for Russian export-focused companies outside the commodities and energy sectors.

USDINR TECHNICAL

Day Trend: - BUY ON DIP (Short Term)

Weekly Trend: - HOLD

INTRADAY RANGE – 76.90 (76.62 – 76.33) 76.05