USDINR
The Rupee getting some relief after easing Ukraine Russia crisis against the greenback. We believe that USDINR commences the Wednesday session between 75.20 -75.30 levels as Russia said that some of its troops were returning to base after exercises near Ukraine, news that appeared to reduce investor anxiety over the crisis in the region.
Fed officials continue to spar over how aggressively to begin raising rates at their March meeting, with St. Louis Fed President James Bullard on Monday reiterating calls for a faster pace of Fed rate hikes.
India's merchandise trade deficit in January touched $17.42 billion, revised data released by the government showed on Tuesday. India's merchandise exports rose $34.50 billion from $27.54 billion a year earlier, while imports rose $51.93 billion in January from $42.03 billion last year.
Indian shares closed sharply higher on Tuesday, recouping losses from the previous session with broad-based buying, following a report that some Russian troops were returning to their bases in areas near Ukraine.
Cryptocurrencies are akin to Ponzi schemes or worse and banning them is the most sensible option for India to avoid the threat they pose to financial and macroeconomic stability, a deputy governor at the Reserve Bank of India (RBI).
Day Trend: - BUY ON DIP
INTRADAY RANGE – 75.87(75.47-75.07)74.67
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