USDINR
On Wednesday, USDINR is most likely to commence a session between 76.10 – 76.20 levels as greenback lower on early session trade in Asia as a boost from comments by U.S. Federal Reserve Chair Jerome Powell that boosted the greenback on the previous day faded and a rise in equities markets helps boost risk-on sentiment.
Traders are pricing in a 61.6% chance of a 50-basis-point hike at the Fed's May meeting, CME's FedWatch Tool, up from slightly more than 50% a week ago.
Indian Oil Corp, the country's top fuel retailer, will raise petrol and diesel price by 0.80 rupees a litre from Wednesday, the second such increase in pump prices in as many days, a notification sent to dealers showed on Tuesday.
Crude oil processing by Indian refiners rose about 10% year-on-year in February, provisional government data showed, as demand in the world's third-biggest oil importer and consumer grew.
The pound could mount a further recovery against the euro intraday, and is poised for wild swings as data showing inflation remains red-hot could renew bets on Bank of England rate hikes.
The London Metal Exchange has no current plans to ban from its system metal from Russian producers, such as nickel and copper from Norilsk Nickel or aluminium.
Crude prices settled down but off Tuesday’s lows after the energy ministry in Moscow warned that Russian and Kazakhstan oil exports via the Caspian Pipeline Consortium, or CPC, may fall by up to 1 million barrels daily due to storm-damaged berths.
Day Trend: - HOLD
INTRADAY RANGE – 76.76 (76.35 – 75.94) 75.53
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